TORONTO, ONTARIO--(Marketwire - Oct. 31, 2012) - Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME)(XMTTF) is pleased to announce that it has retained the services of Renmark Financial Communications Inc. to handle its investor relations activities.
"We are pleased to announce that we have selected Renmark to reinforce Xmet's profile in the financial community and enhance the visibility of our projects, specifically in our Duquesne District consolidation project on the Quebec side of Porcupine-Destor fault. We choose Renmark because its standards and methodologies fit best with the message we wish to communicate to the investing public," noted Charles Beaudry, President and CEO of Xmet Inc.
In consideration of the services to be provided, Xmet Inc. has agreed to a monthly agreement with a retainer of $7,000 to Renmark Financial Communications Inc.
Renmark Financial Communications Inc. does not have any interest, directly or indirectly, in Xmet Inc. or its securities, or any right or intent to acquire such an interest.
About Xmet Inc.
Xmet is gold exploration company focused on consolidating the Duquesne Mining District located along the Porcupine-Destor fault in the Abitibi region of Quebec. Building on its successful exploration on the Duquesne-Ottoman Property where Xmet took a small historic resource and in 18 months expanded that into a NI43-101 compliant 853,000 inferred gold ounces in 4.1 million tonnes grading 6.36 g/t Au, the company has signed agreements with its adjacent neighbors that will add 355,000 ounces of indicated gold resource in 2.0 million tonnes at 5.9 g/t Au and a further 380,000 gold ounces of inferred resources in 2.6 million tonnes at 4.4 g/t Au. This transaction will allow Xmet to take control of over 8 kilometres of strike on the Porcupine-Destor fault and open the immediate exploration potential to significantly add ounces by exploring the boundary zones between the properties and the extensions around the old shaft on the Duquesne mine property.
Mr. Charles Beaudry, P.Geo., Xmet's President, COO and Director, is the designated Qualified Person responsible for this release.
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