HMZ Metals Inc.

HMZ Metals Inc.

November 15, 2007 18:00 ET

HMZ Provides Corporate Update

TORONTO, ONTARIO--(Marketwire - Nov. 15, 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.

Previously announced legal and other initiatives against the Company's Chinese joint venture partners have taken a definitive step forward with the recently announced Arbitration process and parallel action in the Peoples' High Court, Guangxi, China.

The Company expects to file audited financial statements for the year ended December 31, 2005 shortly and the remaining outstanding financial statements as soon as practical thereafter.

Data review and preliminary negotiations associated with new potential projects inside and outside of China continue.

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