Primary Metals Inc.
TSX VENTURE : PMI

Primary Metals Inc.

October 24, 2006 14:01 ET

Primary Metals Graduates to Tier 1 on TSX Venture Exchange

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 24, 2006) - Primary Metals Inc. ("Primary" or the "Company") is pleased to announce that is has graduated to Tier 1 as a Mining Issuer on the TSX Venture Exchange (the "Exchange"), with effect from October 23, 2006.

"We are delighted with this listing on the Exchange's premier tier in recognition of Primary as one of the Exchange's most advanced Issuers, producing tungsten concentrates from our profitable mining operations in Portugal," said Mr. Lewis Black, Chairman and CEO of the company.

Primary Metals Inc. owns a 100% interest in the Panasqueira tungsten mine in Portugal, currently producing wolframite concentrates containing some 100,000 MTUs of tungsten trioxide per annum with further improvements underway. Information about the company is available on the company's website at www.primarymetals.ca and under the company's profile at www.sedar.com.

On Behalf of the Board of Directors,

James Robertson, P. Eng., Director


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

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