Silvermet Inc.

Silvermet Inc.

June 06, 2007 11:09 ET

Silvermet Retains Dr. Larry Hulbert, an Authority on the Nickel-Copper-Platinum Muskox Intrusion, to Provide Consulting Services

TORONTO, ONTARIO--(Marketwire - June 6, 2007) - Silvermet Inc., ("Silvermet") (TSX VENTURE:SYI) announces that it has retained the consulting services of Nickel-Copper-Platinum Group Metals specialist Dr. Larry Hulbert who is also an authority on the Muskox Intrusion. Dr. Hulbert has a B.Sc, and M.Sc from the University of Regina, and a D.Sc from the University of Pretoria, South Africa where he did his doctoral studies on the Bushveld Complex which has similarities to the Muskox intrusion. Dr. Hulbert has over ten years of direct research and exploration expertise on the Muskox intrusion. Silvermet's claims lie approximately 90 kms south of Kugluktuk (Coppermine).

Silvermet further announces that it has mobilized drilling equipment and camp for its planned 5,000 to 7,000 metre drilling program. Drilling should start next week on targeted geochemical high anomalies which have been located within the claims as a result of the interpretation of approximately 7,000 soil samples.

Silvermet also announces that it has issued to Dr. Larry Hulbert, for consulting services rendered in connection with Silvermet's geochemical program and integration of such program with the extensive geological and exploration data already existing for the Muskox intrusion located in Nunavut, 800,000 options to purchase common shares of Silvermet (the "Options"). The Options shall have a term of five years from the date of issuance and shall have an exercise price of $0.44 per share. The Options and the shares issuable on the excise of the Options are subject a four month hold period and may not be traded until four months and one day after the issuance of the Options.

Silvermet Inc. (TSX VENTURE:SYI) is an exploration and development company focused on exploring its nickel-copper-platinum group metals project located in Nunavut, Canada and its zinc-lead-silver project in Turkey. Silvermet Inc. has the right to earn a 70% interest in each of these projects. In addition, Silvermet Inc. is focusing on establishing Waelz kiln facilities in Turkey to produce zinc metal from a number of sources.

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 does not accept responsibility for the adequacy or accuracy of this release.

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