Xmet Inc. provided updates for its three current Projects, the Win-Win, Blackflake West and Grasset. Xmet plans to commence work on its Win-Win project this summer with a ground reconnaissance program and a geophysical survey. Results pending this would be followed by a drill program aimed at areas of thickening of the mineralization along the known NW-SE trending mineralized trend and will test for NE-SW trending structures, parallel to the Monster trend.

Historical drilling results on Win-Win are very encouraging and demonstrate shallow mineralization less than 80 metres downhole ranging from 2.13 gpt to 4.61gpt over 2.35 metres to 6.6 metres. The Blackflake West drill campaign confirmed the existence of an extensive Volcanogenic Massive Sulphide system with wide zones of mineralized rock. Assay results from the detailed sampling along the four holes confirms the anomalous base metal and gold values obtained in the rush sampling.

The El Gordo target returned a maximum of 0.34% Zn over 4.0 metres in siliceous metamorphosed rhyolite with sulphide stringers and the El Nino target returned a maximum of 0.36% Zn and 503ppm Cu over 3.0 metres in semi massive to massive sulphide. Xmet management is reviewing the data from the project, specifically the lithogeochemical sample results in order to decide the next steps to be taken on the project. The data received from the drill program and its subsequent testing will be further evaluated given the presence of a Volcanogenic Massive Sulphide system as opposed to a hydrothermal graphite occurrence following which Xmet will finalize its exploration strategy going forward.

The company has spent the necessary funds to retain its option in good standing through May of 2017 and has completed sufficient work for assessment purposes to hold the claims at least through 2018. The Grasset drill campaign focused on two distinct target environments, one originating from the VTEM survey as per the Release of December 11, 2014 and the other which was a group of targets identified from an Induced Polarization program completed in 2013. The VTEM target were drilled and tested for gold and Polymetallic potential while the IP targets were tested for gold.

All initial drilling on the Grasset focussed on ground IP targets along the location of the previously estimated SLDZ. The assay values returned a maximum grade of 0.4g/t Au/1.0m in DDH GR-15-01B within a felsic intrusive unit with chloritic alteration seams. The drilling of the VTEM anomaly on the eastern part of the Grasset claim block returned grades of a maximum of 0.2g/t Au/1.0m, 0.2% Cu/1.0m, and 0.2% Zn/1.0m in DDH GR15-11 within sections of semi-massive to massive sulphides with chlorite alteration and zones of a mixture of highly siliceous-sericitized foliated rock of fine grained amphibolite and granodiorite injections. It is apparent that the Detour-Sunday Lake Deformation Zone is a complex fault up to a kilometre wide on Xmet's 100% owned land package.

The company believes its Grasset project has additional potential for discovery as there are numerous targets that could not be drilled as a result of the onset of spring breakup. Xmet plans to follow up on these targets when conditions permit.