Primary Metals Inc.
TSX VENTURE : PMI

Primary Metals Inc.

July 11, 2007 08:30 ET

Primary Metals Receives US$653,000 for Past Debt Settlement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2007) - Primary Metals Inc. ("Primary" or the "Company") (TSX VENTURE:PMI) is pleased to announce the receipt of a further net sum of US$653,000 from S.A. Minera Regina en Liquidacion ("Minera Regina") in settlement of certain past debts. Minera Regina was previously a subsidiary of the Company with tungsten properties in Peru and funds had been loaned to Minera Regina before it declared bankruptcy several years ago. Rights to any benefits arising were transferred to the Company. The loans had been fully written down at that time and the current payment has been received as a result of the acquisition of Minera Regina from liquidation by an unrelated third party.

Primary owns a 100 percent interest in the Panasqueira tungsten mine in Portugal and is currently producing wolframite concentrates containing some 100,000 MTUs of tungsten trioxide per annum. The Panasqueira mine has a long history of production of high-quality wolframite concentrates and is the dominant producer of high-grade tungsten concentrates outside China. Further information is available at www.sedar.com and on the Company's website at www.primarymetals.ca.

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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