Virgin Metals Inc.
TSX VENTURE : VGM

Virgin Metals Inc.

February 24, 2012 13:30 ET

Virgin Metals Inc. Engages CHF Investor Relations

TORONTO, ONTARIO--(Marketwire - Feb. 24, 2012) - Virgin Metals Inc. (TSX VENTURE:VGM) is pleased to announce that it has engaged CHF Investor Relations, a highly regarded Canadian investor relations firm headquartered in Toronto, as its IR partner.

"We are looking forward to getting our story out with CHF to the Canadian investment community," commented Chris Frostad Virgin Metals' President and CEO. "In particular, we expect that the positive January 2012 Preliminary Economic Assessment on our Los Verdes copper-molybdenum project will garner new interest for our Company. Likewise in the Sonora state of Mexico, we have two 100%-owned copper-moly properties adjacent to each other that, we believe, can be developed successfully behind Los Verdes."

Effective immediately, the services agreement for investor relations is for a term of twelve months, and may be extended for up to one year. Under the terms of the services agreement, which is subject to TSX Venture Exchange approval, CHF will receive $6,000 per month in fees and reimbursement of expenses. CHF has been granted a total of 400,000 VGM stock options of which 200,000 have an exercise price of $0.30 per share and 200,000 have an exercise price of $0.40 per share. The options vest quarterly over twelve months and have a 3-year term, expiring on February 23, 2015. Upon termination of the services agreement, any vested options will be cancelled after 30 days, as is required for TSX Venture's Tier 2 Issuers.

Prior to the grant of options outlined above, CHF had no direct or indirect interest in the Company or its securities.

About CHF Investor Relations

CHF will act as the Company's outsourced, low-cost equivalent to an internal investor relations department. CHF serves an international portfolio of CNSX, TSX Toronto Stock Exchange and TSX Venture-listed companies, and others that may seek to list on Canadian and U.S. Exchanges that operate in a broad range of industries including resource exploration and development, mineral production, oil & gas, high-tech, bio-tech, industrial and business services and products, special situations and "green" companies. CHF's capital market experience dates back to the late 1970's. Its head office is in Toronto, with branch offices in Calgary, New York; São Paulo; and Shanghai.

About Virgin Metals Inc.

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 currently the subject of a pre-feasibility study while the other, Cuatro Hermanos, is the focus of ongoing exploration efforts.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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