Xmet Inc.

Xmet Inc.

February 23, 2015 16:00 ET

Xmet Commences Drilling on Its Grasset Project

TORONTO, ONTARIO--(Marketwired - Feb. 23, 2015) - Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME) is pleased to announce that it has commenced drilling on its 100% owned Grasset project located along the Detour Sunday Lake Deformation Zone and adjacent to Balmoral Resources Grasset Project.

Rouillier Drilling was engaged to complete the scheduled 2,200 metre program which includes ten diamond drill holes. The targets where delineated from the airborne VTEM recently completed by Xmet and previous ground IP work completed by Xmet. The drill program is expect to be complete towards the end of March 2015.

"We are fortunate to be in the unique position to be starting our second drill campaign of 2015 and we are looking forward to discovering the potential of our property along the Detour Sunday Lake Deformation Zone which Detour Gold and Balmoral Resources have developed so successfully," said Alexander Stewart, Xmet's Chairman and CEO.

Xmet would also like to invite its shareholders and interested parties to visit our Booth #2322 in the Investors Exchange at the Prospectors and Developers Association of Canada conference. The PDAC is being held at the Metro Toronto Convention Centre March 1-4, 2015.

About Xmet's Grasset Property

In January 2015 Xmet completed a 330 line kilometre Versatile Time Domain Electromagnetic ("VTEM") and Magnetic Gradiometer Survey on its 100% owned Grasset Project. The survey was a follow up to its March 2012 geophysics when the Company mobilized a geophysical crew onto the property to carry out 28 line km of a gradient induced polarization survey over the interpreted trace of the Detour-Sunday Lake Deformation Zone. Results of the completed part of the survey were announced on 3 May, 2012. The survey clearly identified a favourable gold target in the survey. Phase two of ground geophysics was completed in March 2013 totalling 68 line km of gradient IP with an additional 8 line km of a detailed pole-dipole survey also covering the SLDZ.

Neither 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.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Xmet assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Xmet. Additional information identifying risks and uncertainties is contained in filings by Xmet with Canadian securities regulators, which filings are available under Xmet's profile at www.sedar.com.

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