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Xmet Inc. Expands Drilling Program on Duquesne-Ottoman Property

^{Published on 2010-11-25 06:20:32 - Market Wire}
 

TORONTO, Nov. 25 /CNW Telbec/ - Xmet Inc. (TSXV-XME) is pleased to report that the ongoing Duquesne-Ottoman Phase 1 diamond drill program announced on September 7, 2010, has been expanded from 7,000 to 12,000 metres. A second drill rig has been contracted to accelerate the program. This will provide for a higher volume of news flow from the property over the winter drilling season.

Charles Beaudry, president and COO of Xmet comments: "The very competitive drilling contract that we signed with drilling contractor Foramex for the Duquesne-Ottoman project justifies the expansion of the current drilling program. Drilling was suspended for 3 weeks in October due to the hunting season but is now back in full operation."

The drills are currently on holes DO-10-08 and DO-10-09 and a total of 3,700 metres of drilling have been completed.  Drill results are anticipated in the near future and will be reported when they become available, after all QAQC has been completed and the data have been validated.

About Xmet Inc

Xmet Inc., through its wholly-owned subsidiary Duquesne-Ottoman Mines Inc. ("Duquesne-Ottoman Mines"), carries out gold and resource exploration and development. Pursuant to the terms of a mining option agreement between Duquesne-Ottoman Mines and Duparquet Assets Ltd., Duquesne-Ottoman Mines can earn an option to purchase 75% of the common shares in the capital of Duparquet Assets Ltd, which legally and beneficially owns 20 claims (commonly referred to as Duquesne West) and 40 claims (commonly referred to as Ottoman) covering an area of 928.6 hectares 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.

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. Mr. Bill Yeomans, P.Geo., Xmet's V.P.  Exploration, is the designated Qualified Person responsible for this release.