Xmet Inc. provided an update on the status of its Blackflake West and Grasset Projects. Grasset Update: The company has completed its airborne VTEM survey over its 100% owned Grasset Project and it has interpreted the results. The VTEM survey has confirmed its drill program targets which were identified by a previously completed Induced Polarization survey.

The VTEM survey also identified new targets, some of which are planned to be included in the company's upcoming Grasset drill program. Xmet has engaged Rouillier Drilling to complete the diamond drilling program. Preparations for the Grasset drill program, including access and ice drill pad thickening, have been underway since early January, 2015.

The drill is expected to be on site and operational by mid-February with the expectation of about 2,200 metres of diamond drilling being completed within a four to six week timeframe from commencement.