Metco Resources inc.

Metco Resources inc.

March 14, 2008 15:52 ET

Metco Resources: The Special Shareholders' Meeting is Postponed to April 11th, 2008

MONTREAL, QUEBEC--(Marketwire - March 14, 2008) - Metco Resources Inc. ("Metco") (TSX VENTURE:MKO) announces that the Special Shareholders' Meeting scheduled for March 28th, 2008 is now postponed to April 11th, 2008 at 10 am at the new location of Salon Verriere B of the Delta Hotel Centre-Ville, 777 University, Montreal, Quebec. The Special Meeting being held on April 11th 2008, the Effective Date of the Arrangement will become April 15th 2008 instead of April 1st, 2008.

Some technical problems have rendered impossible the delivery of the notice, the proxy form, the letter of transmittal, the circular and its schedules in due time for the non registered shareholders such that the officers of Metco could not be assured that all of its shareholders would receive the documentation at least 21 days prior to the Meeting.

With the agreement of Breakwater Resources Ltd. ("Breakwater"), it has been decided to postpone the Special Meeting of Metco Shareholders to April 11th, 2008. You will be requested to consider the same resolutions which are the special resolution to reduce the paid-up share capital and the special resolution to approve the proposed business combination involving Breakwater and Metco to be implemented by way of a Plan of Arrangement which is the Annex C of the Circular that you should have received by now. We have preferred to postponed the Special Shareholders' Meeting in order to ensure that the regulation is thoroughly respected and that all the shareholders, registered and non-registered receive all the documentation within the prescribed time limits.

The Board of Directors of Metco believes that the business combination of Metco and Breakwater is a positive step for Metco and its Shareholders. We hope that you will be able to attend the Meeting. However, if you are unable to attend, please complete and return the proxy form that you have already received with the Circular to ensure that your vote on this important matter is recorded.

The ultimate date for the reception of the proxy forms is now April 9th, 2008 at 17:00 pm (instead of March 26th 2008).

Florent Gauthier, P.Eng., is the qualified person who has reviewed the content of this news release. For further information, please consult the Company's website at

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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