Silvermet Inc.
TSX VENTURE : SYI

Silvermet Inc.

August 23, 2007 10:18 ET

Silvermet Inc. Grants Stock Options

TORONTO, ONTARIO--(Marketwire - Aug. 23, 2007) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Silvermet Inc., ("Silvermet") (TSX VENTURE:SYI) is pleased to announce that, in accordance with Silvermet's stock option plan, it has granted to certain of its directors, employees and consultants incentive stock options to purchase up to an aggregate of 1,120,000 common shares exercisable until May 31, 2012, at a price of $0.50 per share.

There are currently 74,163,019 common shares of Silvermet issued and outstanding.

Silvermet wishes to clarify its press release dated May 25, 2007 announcing the closing of the $8,714,000 million private placement in that Westwind Partners Inc. and D&D Securities Company, the agents for the private placement, received an aggregate of $275,640 in commission and were issued an aggregate of 689,100 brokers' warrants. The brokers' warrants are subject to a four month resale restriction.

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.

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 raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. Silvermet 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.

Contact Information

  • Silvermet Inc.
    Clifford H. Frame
    Chairman
    (416) 203-8336
    (416) 203-9483 (FAX)
    or
    Silvermet Inc.
    Stephen G. Roman
    President and CEO
    (416) 368-3949
    Website: www.silvermet.ca