| ||July 08, 2015|
Philippine Metals Inc. Completes Acquisition of Cuatro Ciénegas Project
| ||Vancouver, July 8, 2015 - Philippine Metals Inc. ("PMI" or the "Company") (TSX-V: PHI) is pleased to announce that it has completed its acquisition of all of the issued and outstanding shares of Compania Minera Coronado S.A. de C.V., which holds a 100% interest, subject to a 3.5% net smelter royalty, in the Cuatro Ciénegas Project (See News Release dated April 22, 2015). The Cuatro Ciénegas Project consists of six concessions totaling approximately 3,408 hectares in the state of Coahuila, Mexico. "The acquisition of the Cuatro Ciénegas Project provides the Company with exposure to a project with high growth potential in a stable, established mining jurisdiction and reduces our current reliance on the Philippines, which continues to present operating challenges. We remain dedicated to realizing value from our Philippine assets, but recognize the need to diversify our asset base geographically", stated CEO Craig Lindsay.|
Forward Looking Information
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Transactions, the concurrent financing or any contemplated name change of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulations.
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For further information, contact:
Philippine Metals Inc.
Marshall L. Farris, President and Director
Phone: 604.637.6373 ext. 1
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