Xmet Inc. provided a comprehensive update on its Blackflake East and West projects and other corporate items. Xmet has received the assay results from the lab on four drill holes aimed at its first target. There was no economic graphite mineralization reported. The drilling program was halted after testing four preliminary holes due to spring runoff preventing access to other drill targets on the Blackflake East property.

The first target had been selected due to its close accessibility to a logging road. Once ground conditions permit and water levels recede, Xmet will proceed to prioritize the remaining seven pipe like targets on Blackflake East. The initial four drill holes on target one tested a circular magnetic low with coincident VTEM electromagnetic response.

This anomaly was explained by highly altered syenite basement beneath 40 meters of overburden cover, limestone and clay. The remaining seven untested drill targets on the Blackflake East property include potential kimberlite diatremes described in the 2014 Geotech VTEM survey report. These targets will require additional ground geophysical surveys and will be prioritized for drilling pending the results of the upcoming surveys.

A potential massive sulphide target with excellent access will also be further ground tested on the Blackflake East project. Graphite continues to be the high priority exploration target for Xmet on the Blackflake East and West properties. High Priority Graphite Target with 'All Channel' EM Response on Blackflake West Claims: The recently optioned 'top priority' Blackflake West VTEM target is considered to have excellent potential for a graphitic source.

An electromagnetic "All Channel" response is a multi-depth continuous profile of a conductor with a response close to surface and at depth. A graphitic source would produce this type of response with an associated magnetic low intensity. This target is easily accessible and is located 6 km due west of the Zenyatta Albany pipe in an area where limestone cover is suspected to be less than 10 meters thick.

Xmet plans more detailed EM airborne survey and ground geophysics surveys followed by continuation of the drill program once low-lying areas inundated by spring runoff become accessible.