Xmet Receives Drilling and Ground Geophysics Permits from MNDM on Blackflake West's 'All Channel' EM Graphite Target

TORONTO, ONTARIO--(Marketwired - Jun 16, 2014) - Xmet Inc. (TSX VENTURE:XME) ("Xmet") is pleased to announce that it has received all of the necessary permits from Ontario's Ministry of Northern Development and Mines ("MNDM") to begin its ground geophysics work program and drill testing on the Blackflake West's 'All Channel' Electromagnetic graphite target.

Alexander Stewart, Chairman and CEO of Xmet states, "We are moving aggressively towards conducting ground geophysics and drilling this "All Channel" EM target on Blackflake West, as soon as ground conditions allow. The anomaly appears to be conductive at its surface and the conductivity continues to the limits of what VTEM can detect, which is 600 metres. This is precisely that type of response you want when you're targeting graphite, and it is the same type of "All Channel" response that Zenyatta received on its East and West graphite pipes."

The Blackflake West Project is an option joint venture between Xmet and Metals Creek Resources (See News Release May 22, 2014) in which Xmet has the option to earn a 60% interest in the project.

The technical information contained in this news release has been approved by William Yeomans, 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.