Xmet Inc.

Xmet Inc.

September 16, 2014 09:00 ET

Xmet Receives Drill Permits for Its 100% Owned Grasset Property, the Eastern Extension of Balmoral Resources' Grasset

TORONTO, ONTARIO--(Marketwired - Sept. 16, 2014) - Xmet Inc. ("Xmet" or the "Corporation") (TSX VENTURE:XME) is pleased to announce that it has received its work and drill permit for its Grasset Property from the Province of Quebec's Ministry of Natural Resources.

During our previous geophysical work on the Grasset property, Xmet identified four high priority targets that have been selected for diamond drill testing. The project is located immediately adjacent to and along strike to Balmoral Resources' Grasset project, which lies on the Detour/Sunday Lake deformation zone. Balmoral has had excellent results on its Grasset project yielding significant gold, nickel and platinum group metal intersection in recent months. As a result, Xmet has decided to pursue its own aggressive exploration and drill program.

"As noted in previous news releases, the Blackflake West is our priority and we are currently in the midst of our work program on that property. However our Grasset project also deserves significant attention given our previous geophysical results along with the results that our neighbour, Balmoral Resources, have delivered as of late. Our Grasset Project is highly prospective and holds significant potential for Xmet and its shareholders," said Alexander Stewart, Xmet's Chairman and CEO.

To view the first map associated with this release, please visit the following link: http://media3.marketwire.com/docs/968134_map1.pdf.

To view the second map associated with this release, please visit the following link: http://media3.marketwire.com/docs/968134_map2.pdf.

About Xmet's Grasset Property

Two mineral occurrences have been identified on the property. The Ingamar occurrence consisting of 0.93 g/t Au over 1.83 metres and the Harricana-Turgeon occurrence of 0.50% Cu over 1.0 metres, both of which are located along the south shore of the lake. In addition, on the western shore of the lake, a few hundred metres from the property boundary is a showing reported to have assayed 5.5 g/t Au in a grab sample. Charles Beaudry, the QP for this news release, visited the property in the early 1980's and sampled the outcropping occurrences for another company, confirming the presence of elevated gold and copper values. However analytical results from this sampling were not submitted for assessment work and are not presently available for publication.

Ground Geophysics Completed to Date by Xmet

In March 2012 Xmet 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.

The technical information contained in this news release has been approved by Charles Beaudry, a director of Xmet, who is a qualified person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral projects."

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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