Silvermet Inc.

Silvermet Inc.

August 14, 2007 12:08 ET

Silvermet Appoints Senior Executives for its Waelz Kiln Zinc Project in Turkey

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2007) - Silvermet Inc., ("Silvermet")(TSX VENTURE:SYI) is pleased to announce the appointment of Erden Yuksel, P.Eng., as Vice President and General Manager of its Turkish subsidiary Cevmetco (Cevresel Metal Donusum Madencilik Senayi ve Ticaret A.S).

Silvermet is also pleased to announce the appointment of Pierre Demers, P.Eng., (Consultant) as Vice President and Development Co-ordinator, Turkey, of the parent company Silvermet Inc.

Erden Yuksel has over 40 years of experience in mine development and operations in Turkey, North America, the United Kingdom, Spain, South Africa and Central Africa. Starting as a production engineer, he progressed through positions from senior mining engineer, manager, general manger to vice president and managing director. His mining exposure included projects in copper, gold, zinc and lead, chromium, diamond, iron and coal. Mr. Yuksel had senior roles in Cominco in the U.S.A. and in Turkey. Most recently he was Vice President and General Manger of Anatolia Minerals and Development Ltd.

Pierre Demers has over 38 years of experience including senior positions with SNC Lavalin Inc., in diversified mineral processing and heavy industry projects worldwide. Mr. Demers also held senior roles with Le Consortium Met-Chem Pellemon, Kilborn Tecsult Inc., and Kilborn et Associes Ltd. in Montreal. Key exposure areas included design, pilot plant testing, ore characterization, equipment specification and project design supervision, project development and operation start-ups.

The Chairman advises that these appointments reflect the continued positive progress with Silvermet's project in Turkey.

Silvermet is designing an installation consisting of twin 60,000 tonnes Waelz kilns to produce a minimum of 150 million pounds of payable zinc metal per year. Silvermet will also produce a lead concentrate as by-product to its mining and processing operations. Payable cadmium (Cd) and Silver (Ag) are expected to report in the concentrates. The saleable product from the kilns will be greater than 65 percent zinc.

Silvermet Inc. is an exploration and development company presently focused on developing a number of zinc projects in Turkey and exploring its nickel-copper-platinum group metals project located in Nunavut, Canada.

Caution concerning forward-looking statements: The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raised additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events except as may be required under applicable securities laws.

The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Silvermet Inc.
    Clifford H. Frame
    (416) 203-8336
    (416) 203-9483 (FAX)
    Silvermet Inc.
    Stephen G. Roman
    President and CEO
    (416) 368-3949
    (416) 203-9483 (FAX)