Virgin Metals Inc.

Virgin Metals Inc.

July 03, 2007 10:16 ET

Virgin Metals Completes Acquisition of Cuatro Hermanos Property

TORONTO, ONTARIO--(Marketwire - July 3, 2007) - Virgin Metals Inc. ("Virgin Metals" or the "Company") (TSX:VGM) reports that it has completed the previously announced acquisition of 100% ownership (including the 3% net smelter royalty) of the Cuatro Hermanos copper/molybdenum property located in State of Sonora, Mexico from Morgain Minerals Inc. ("Morgain") in exchange for a payment of U.S. $2.5 million and the issuance of 500,000 common shares of Virgin Metals to Morgain.

Cuatro Hermanos is a copper/molybdenum porphyry exploration target that has been the subject of a number of drill campaigns over the past four decades. Prior surface mapping and drilling have outlined porphyry mineralization over an area of about 4.5 square kilometers. The Company expects to mobilize a drill to the property within a few days to begin further exploration of the property.

The Company also reports that it has engaged Valerie Kimball as Manager, Investor Relations. Valerie comes to us with extensive experience in both the securities industry and in investor relations with junior resource companies.

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 expected to evolve rapidly towards production while the other, Cuatro Hermanos, is expected to be the focus of expanded 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.

Shares Outstanding: 77,989,385

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