HMZ Metals Inc.

HMZ Metals Inc.

February 23, 2007 16:00 ET

HMZ Provides Corporate Update

TORONTO, ONTARIO--(CCNMatthews - Feb. 23, 2007) - HMZ Metals Inc. ("HMZ" or the "Company") (TSX:HMZ) provides its bi-weekly update pursuant to the Management Cease Trade Order announced April 18, 2006.

The Company reports that it has made considerable progress on the preparation of its 2005 audited annual financial statements and is targeting filing same on or before the end of March, 2007. Previously announced legal and other initiatives regarding the Company's Chinese joint venture interest are on-going.

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