Xmet Announces Annual Meeting Results and Expiry of Option

TORONTO, July 3, 2013 - Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME) (OTCQX:XMTTF) announces that its annual meeting was held on June 27, 2013. All directors were re-elected, the appointment of auditors was approved, the company's stock option plan was approved for the ensuing year and the creation of a class of preferred shares issuable in series was approved. The voting details will be posted on Sedar.

Xmet also announces the expiration of its agreement to purchase 75% interest in the Duquesne Ottoman project. "The terms of the Duquesne acquisition were not financeable in the current junior resource market, however we look forward to focusing on our two 100% owned projects, Grasset and Authier along with other opportunities," said Alex Stewart, CEO of Xmet Inc.


About Xmet Inc.

Xmet is a gold exploration company focused on advanced projects in existing mining camps in Canada where exploration and mining costs are minimized and where previous and historic producing mines make for much easier permitting.


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.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Xmet assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Xmet. Additional information identifying risks and uncertainties is contained in filings by Xmet with Canadian securities regulators, which filings are available under Xmet's profile at www.sedar.com.



Contact

Xmet Inc.
Alexander Stewart, Chief Executive Officer
(416) 644-6588
astewart@xmet.ca

Xmet Inc.
Stephen Stewart, VP Corporate Development
(416) 644-6588
sstewart@xmet.ca