SOURCE: NYMET Holdings Inc.

Nymet Holdings Inc.

September 17, 2009 16:51 ET

NYMET Holdings Inc. (NYMH) Announces the Finalization of Agreements With Sub Contractors for the Commencement of Marine Salvage Operations

NEW YORK, NY--(Marketwire - September 17, 2009) - NYMET Holdings Inc. (PINKSHEETS: NYMH), an innovative metals and mining company headquartered in Port Jefferson, N.Y., announces the successful finalization of agreements for the processing of ferrous and non-ferrous metals from the M/V Fresno and the M/V San Leandro with Enterprise Marine Company, Inc.

NYMET has successfully concluded contract negotiations with Enterprise Marine for the demolition and processing of all ferrous and non-ferrous metals derived from both ferry barges. Enterprise Marine is a marine salvage company servicing the San Francisco Bay, as well as the Delta Waterway. Enterprise Marine has already deployed their own surveyor to conduct and quantify the available steel tonnage and stated: "2,000 tons is a very conservative estimate based on a visual inspection of both barges."

In addition, NYMET has concluded contract negotiation with professional diving company, B'NEATH THE WAVES, Inc., which is located in Sheridan, California. B'NEATH THE WAVES is owned and operated by Mr. Mark Hicks, a former naval diver. Mr. Hicks brings a wealth of maritime knowledge, as well as proficiency related to maritime laws and procedures. B'NEATH THE WAVES is expected to greatly increase the efficiency and value of NYMET's new marine salvage terminal operations.


The results described herein cannot be guaranteed. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. These expectations and assumptions are subject to risks and uncertainty, which could affect NYMET Holdings Inc.'s future. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of NYMET Holdings Inc. to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. NYMET Holdings Inc. undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in NYMET Holdings Inc.'s expectations.

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