Philippine Metals Inc.

Philippine Metals Inc.

December 07, 2010 09:31 ET

Leo Dominguez & Tom Vaillancourt Join Philippine Metals' Operating Subsidiary Board

CALGARY, ALBERTA--(Marketwire - Dec. 7, 2010) - Philippine Metals Inc. (the "Company") (TSX VENTURE:PHI)(OTCQX:PHIXF)(FRANKFURT:PM7) is pleased to announce that it Mr. Leo Dominguez and Mr. Tom Vaillancourt have agreed to join the Board of Directors of the Company's Philippine operating subsidiary Pacific Metals Canada Philippines Inc. ("PMCPI").

Mr. Dominguez recently retired from Quisumbing Torres, a leading Philippine law firm and member firm of Baker & McKenzie International. In the firm, he was a senior partner specializing in mining law, oil and gas law, environmental advisory, and mergers and acquisitions. He also chaired the firm's Energy, Mining and Infrastructure Group. Mr. Dominguez is a leading figure in the Philippine mining industry having co-authored the bill that became the Philippine Mining Act of 1995. He has been a key speaker and resource industry spokesperson for many Philippine government international road shows promoting mining in the Philippines. Mr. Dominguez was the Corporate Secretary of PMCPI until July 2010.

"We are delighted that Mr. Dominguez has agreed to continue his involvement with the Company," said Marshall Farris, President of Philippine Metals. "Leo has already made a significant contribution to the Company in his previous role and we are thrilled that he has chosen to continue his association with the Company as he pursues other interests following his retirement from practicing law. He is a highly respected legal practitioner who brings a wealth of practical knowledge and experience working with the mining industry and government in the Philippines. We are fortunate to have Leo among our team and I look forward to working closely with him in the future as we continue to build a successful mining company in the Philippines."

Mr. Dominguez stated, "I am excited to continue my association with Philippine Metals. Philippine Metals is a fine example of a developing junior mining company working effectively with local communities and local and regional governments to promote mining and mining exploration in the Philippines. The Company is working respectfully within the communities in which its projects are based to create value for the benefit of all stakeholders. I am pleased to lend my continuing support to the Company's efforts in the Philippines as it develops its existing mining projects and looks to identify new prospective projects."

Mr. Tom Vaillancourt has been the Company's Vice President of Operations based in the Philippines for the past three years where he has directed the logistics and support for exploration camps and projects and overseen the management and training of field crews. He has a wide-ranging business background that includes experience in accounting, finance, business administration, and investment and risk analysis. He began working in the geological exploration industry more than 15 years ago and his recent work running the PMCPI's country office and operations in the field has given him a deep appreciation of the resource industry in the Philippines. Mr. Vaillancourt has also worked closely with engineers in developing sites, processing plants and systems. He has an abundance of international experience and is well versed in multi-cultural management.

"Tom's contribution to the early-stage operations of the Company in the Philippines has been immeasurable," stated Feisal Somji, CEO of Philippine Metals. "He has successfully integrated himself into the culture and the communities of the Philippines and, in acknowledgement of his working commitment to the resource industry, he has recently been asked to act as the Large Scale Mining Representative to sit on the Tacloban City Mining Regulatory Board, where Philippine Metals' Taurus Project is located, and also the Provincial Mining Regulatory Board of Apayo where the Company's Malitao Project is located. The Company is proud of his achievements in the Philippines and now looks forward to now also working with him at the Board level."

In connection with their appointments to the PMCPI Board of Directors, Mr. Dominguez and Mr. Vaillancourt have each been granted 85,000 stock options in the Company exercisable at $0.45 and expiring on December 6, 2015.

About Philippine Metals Inc.

Philippine Metals Inc. is focused on the exploration, discovery and development of highly prospective copper and copper-gold deposits in the Philippines. Based on the region's geological environment, the company's management team recognizes the country's potential for hosting large, world-class deposits of copper and copper-gold.

The Company's initial projects, Taurus, Malitao and Dilong, are examples of management's ability to source quality, highly prospective targets. The management team combines strong financial capabilities with world-class experience in mineral exploration, discovery and mine development.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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