Xmet Announces Annual and Special Meeting of Shareholders and Management Changes

TORONTO, ONTARIO--(Marketwired - May 2, 2013) - Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME)(OTCQX:XMTTF) is pleased to announce that its annual and special meeting of shareholders will be held at 1 First Canadian Place, 100 King Street West, Suite 1600, Toronto, Ontario at 10:00 a.m. on June 27, 2013.

Xmet also announces that Charles Beaudry has resigned as President and Chief Executive Officer to pursue other opportunities and that Alexander Stewart has resumed the position of Chief Executive Officer, effective immediately. Mr. Beaudry will continue to serve as a director of the Company and will consult to the Company on its Duquesne-Ottoman, Authier and Grasset projects. Xmet thanks Mr. Beaudry for his significant contributions during his tenure as President and Chief Executive Officer and wishes him well on his future endeavours. Xmet's Chairman Alexander Stewart added, 'On behalf of the Board of Directors I sincerely would like to thank Charles Beaudry for his commitment and contribution to Xmet. I wish him well in all future projects and look forward to working with him on Xmet's projects in the future.'

About Xmet Inc.

Xmet is a gold exploration company focused on advanced projects in existing mining camps in Canada where exploration and mining costs are minimized and where previous and historic producing mines make for much easier permitting. Xmet's flagship project, the Duquesne-Ottoman property, which covers an area of 928.6 hectares, is located approximately 30 kilometres north of the city of Rouyn-Noranda and 10 kilometres east of the village of Duparquet within the townships of Duparquet and Destor in the Province of Quebec.

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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