Philippine Metals Inc.
TSX VENTURE : PHI
FRANKFURT : PM7

Philippine Metals Inc.

October 14, 2010 09:46 ET

Philippine Metals Inc. Announces Shareholder Approval of the Re-Election of Board and Shareholder Rights Plan

CALGARY, ALBERTA--(Marketwire - Oct. 14, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Philippine Metals Inc. (the "Corporation" or "Philippine Metals") (TSX VENTURE:PHI)(FRANKFURT:PM7) is pleased to announce the results of the Annual General and Special Meeting of Shareholders held yesterday (the "AGM"). Marshall Farris, the President, Feisal Somji, the Chief Executive Officer, J. Roberto Delgado, James Glass, Edward Farrauto and Louis Clinton were re-elected as the Board of Directors of the Corporation for the upcoming year. In addition to the annual resolutions, including the appointment of auditors, a resolution was passed re-approving the Corporation's existing stock option plan as required by the TSX Venture Exchange. The Corporation also received shareholder approval of the proposed shareholder rights plan initially announced on September 10, 2010 at its AGM. The Corporation wishes to thank its shareholders for the overwhelming support.

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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