Xmet’s New Detailed VTEM Survey Confirms Large ‘All Channel’ Response on Blackflake West

Toronto, Ontario – September 29, 2014 – Xmet Inc. (“Xmet” or the “Corporation”) (TSXV-XME) is pleased to report it has successfully completed its Versatile Time Domain Electromagnetic Surveying (“VTEM”) survey, comprising 215 line kilometres, over the Blackflake West project.

The results indicate that four conductors were identified, including a very large circular conductive anomaly with a diameter of approximately 750 metres. This large anomaly contains the ‘All Channel’ EM anomaly with very clear late channels responses (See Image 2). Analysis concludes that an ‘All Channel’ EM response of this magnitude within the bedrock has the potential for a large graphitic or a volcanogenic massive sulphide source and will be drilled as soon as possible. Geophysical analysis recommends the next course of action to be ground geophysics in the form of induced polarization/resistivity to better define the conductive source and its depth estimation. This geophysical survey is set to begin in the near term.

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