Virgin Metals Inc.

Virgin Metals Inc.

March 28, 2008 11:17 ET

Virgin Metals Announces Filing of its 2007 Year End Disclosure Documents

TORONTO, ONTARIO--(Marketwire - March 28, 2008) - Virgin Metals Inc. ("Virgin Metals" or the "Company") (TSX:VGM) today filed its Annual Information Form, its audited consolidated financial statements and accompanying notes for the year ended December 31, 2007 and related Management Discussion and Analysis with Canadian Securities Regulatory Authorities. Copies of Virgin Metal's 2007 disclosure documents may be obtained at or by e-mailing the Company at

The Annual Information Form includes by reference the independent National Instrument 43-101 Technical Report on the Los Verdes Project dated February 29, 2008 prepared by Chlumsky, Armbrust & Meyer, LLC, which has also been filed today.

Update on Operations

It is anticipated that the technical study currently in progress will be completed in the next two months. The Company's consultants have advised the Company that it expects the study to reach pre-feasibility study standard, although a substantial amount of work to date has reached feasibility study standard.

At the request of consultants, the Company will carry out further metallurgical testwork to determine response of different ore types in order to more precisely determine metallurgical recoveries and product qualities so that detailed mine planning can be prepared. Test work to date has shown excellent recoveries of molybdenum. Work will also be completed on securing water supply, finalizing surface rights agreements and completing condemnation and geotechnical drilling programmes to finalize plant, tailings, water impoundment and waste dump locations and designs. Results of the above and other work would then be incorporated into a final feasibility study that the Company anticipates receiving from its consultants during the fourth quarter of 2008.

Virgin Metals is also pleased to announce that it has recently promoted Rene Mladosich to General Manager, Mexico Operations. Mr. Mladosich has been employed with Virgin Metals since July 2007, and has played a key role in advancing the development of the Los Verdes project. Mr. Mladosich is a Mexican national who has extensive experience in advancing mining projects to production in Mexico. He was most recently manager of logistics at the Dolores project and previously was responsible for administration at the Magistral project in Sinaloa with responsibility for community relations, permitting and personnel. He is a graduate of the University of Sonora in mining engineering.

The technical contents of this release have been reviewed by Christopher Kaye, B. Eng. (Chemical), of Mine and Quarry Engineering Services Inc. (MQes Inc.), a Qualified Person pursuant to National Instrument 43-101. MQes Inc., is coordinating the preparation of the feasibility study on the Los Verdes project.

About Virgin Metals

Virgin Metals is a junior exploration and development company; its projects include two copper-molybdenum porphyry properties in Sonora, northern Mexico. One of these, Los Verdes, is undergoing a feasibility study and is expected to evolve rapidly towards production while the other, Cuatro Hermanos, is presently the focus of an intense exploration effort.


This press release includes certain "forward-looking information" within the meaning of the Securities Act (Ontario), including, but not limited to, statements as to timing and extent of exploration programs and the availability of exploration results. As such, forward-looking information addresses future events and conditions and so involves inherent risks and uncertainties, as disclosed under the heading "Risk Factors" and elsewhere in Virgin Metals documents filed from time to time with the Ontario Securities Commission and other regulatory authorities. Actual results could differ significantly from those currently projected as a result of, among those factors, adverse weather, regulatory changes, delays in receiving permits, accidents and delays in completing exploration activities not all of which are in the control of Virgin Metals. The forward-looking information contained herein is Virgin Metal's reasonable estimate today of future events and conditions, but no assurance can be given that such events or conditions will occur.

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