Xmet Inc.

Xmet Inc.

August 09, 2011 07:00 ET

Xmet Completes First Phase of Trenching Program on Duquesne-Ottoman Property

TORONTO, ONTARIO--(Marketwire - Aug. 9, 2011) -

Editors Note: There is a photo associated with this Press Release.

Xmet Inc. (TSX VENTURE:XME) is pleased to report that a major stripping and channel sampling program is underway at the Duquesne-Ottoman property near Rouyn-Noranda, Quebec. Approximately 7,000 cubic meters of overburden have been excavated in eight (8) trenches (approximately 75 meters long, 6 meters wide and 2 meters deep). The trenching program was designed to expose mineralization and structural controls at the 20-20 Zone and Shaft Zones.

Eight trenches were completed and cleaned, four on each of the two zones. The two eastern trenches on the 20-20 Zone show intensively fractured, carbonated mafic pillowed flow in contact with the quartz-feldspar porphyry (see attached schedule). At the Shaft Zone the vein trends N070 degrees and appears to correspond to the zone that was investigated in the early 1980's by sinking a shallow shaft near high grade historic drill holes. Intense alteration and sulphide mineralization are consistent with features of the zones observed in drill core; channel samples have been shipped to the laboratory for rush analysis. In the second phase of trenching, to be executed as soon as assays are available, the gold-bearing structures will be exposed along strike between the trenches to allow detailed sampling to confirm grade continuity along the veins and optimal drill hole spacing.

A major diamond drilling program will commence around the middle of September upon completion of the trench mapping and sampling program.

About Xmet Inc

Mr. Bill Yeomans, P. Geo., is a qualified person under National Instrument 43-101 and was responsible for this news release. Xmet Inc., through its wholly-owned subsidiary Duquesne-Ottoman Mines Inc. ("Duquesne-Ottoman Mines"), carries out gold resource exploration and development. Pursuant to the terms of a mining option agreement between Duquesne-Ottoman Mines and Duparquet Assets Ltd., Duquesne-Ottoman Mines can earn an option to purchase 75% of the common shares in the capital of Duparquet Assets Ltd, which legally and beneficially owns 20 claims (commonly referred to as Duquesne West) and 40 claims (commonly referred to as Ottoman) covering an area of 928.6 hectares located approximately 30 kilometres north of the city of Rouyn-Noranda and 10 kilometres east of the village of Duparquet within the townships of Duparquet and Destor in the Province of Quebec.

Mr. Bill Yeomans, P.Geo., Xmet's V.P. Exploration, is the designated Qualified Person responsible for this release.

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