Xmet Inc XMTTF

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Metals Creek receives Blackflake exploration permit 2014-06-16 09:11 ET - News Release Also News Release (C-XME) Xmet Inc METALS CREEK RESOURCES CORP.: BLACKFLAKE (FEAGAN LAKE) PROPERTY "ALL CHANNEL" EM GRAPHITE TARGET RECEIVES DRILLING AND GROUND GEOPHYSICS PERMIT FROM MNDM Metals Creek Resources Corp. has received its drilling and ground geophysics exploration permit from the Ministry of Northern Development and Mines (MNDM) on its Blackflake West (Feagan Lake) graphite project. Metals Creek discovered several conductive electromagnetic targets on the Blackflake West (Feagan Lake) graphite property. These new electromagnetic (EM) conductive responses were flown with the VTEM plus time domain system targeting previously identified magnetic lows that resulted in the discovery of several new exploration targets exhibiting similar features to that of Zenyatta's hydrothermal graphite discovery. One of the EM responses in particular returned a strong conductive response on all channels with an associated magnetic low. Metals Creek recently optioned the property to Xmet Inc. (TSX-V:XME). Xmet Inc. has the option to earn a 50% interest (see news release May 22, 2014) in the Blackflake West (Feagan Lake) Graphite Project by paying an aggregate of $20,000 plus issue up to 3,000,000 common shares and incur exploration expenditures in the amount of $885,000 within a three year period. In order to earn the additional 10% interest, Xmet must pay $100,000 plus issue 1,500,000 common shares within 90 days of earning 50% and incur exploration expenditures of $1,000,000 in year four. Xmet is going to be moving aggressively towards conducting ground geophysics and drilling this "All Channel" EM target on Blackflake West, as soon as ground conditions allow. Michael MacIsaac, P. Geo, VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release. © 2014 Canjex Publishing Ltd. All rights reserved.