Knight Metals Ltd.: 3D Seismic Survey To Begin On Bouhajla Permit in Tunisia

Knight Metals Ltd. (TSX VENTURE:KNP)(FRANKFURT:KRL) ("Knight Metals" or the
"Company") reports that DualEx Tunisia Inc. ("DualEx") has entered into a
contract with CGGVeritas Services SA, one of the world's largest geophysical
service providers, to shoot a 55 square kilometres 3D seismic survey over the
Bouhajla North Prospect on the Bouhajla Permit, onshore Tunisia. Surveying and
permitting is scheduled to begin in January 2012, with field recording
anticipated to be completed around the end of February 2012.


On December 2, 2011, Knight Metals completed the transaction to acquire Watutatu
Inc. ("Watutatu"), a private Ontario company with certain oil and gas assets in
Tunisia, North Africa. Knight Metals, through Watutatu, has a right to earn
47.5% of DualEx's share in the Bouhajla Production Sharing Contract by spending
US$7,250,000 on the Bouhajla Permit, encompassing 416 square kilometres, located
onshore in the Pelagian Basin of east-central Tunisia. 


ON BEHALF OF THE BOARD OF KNIGHT METALS LTD.

Harvey Keats, Chief Executive Officer

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "schedule", "believe", "plans",
"intends" and similar expressions are intended to identify forward-looking
information or statements. More particularly and without limitation, this news
release contains forward-looking statements and information concerning Knight
Metals' future operations and prospects. The forward-looking statements and
information are based on certain key expectations and assumptions made by Knight
Metals, including expectations and assumptions concerning equipment and crew
availability, and joint venture partner financial capability. Although Knight
Metals believes that the expectations and assumptions on which such
forward-looking statements and information are based are reasonable, undue
reliance should not be placed on the forward looking statements and information
because Knight Metals can give no assurance that they will prove to be correct.
By its nature, such forward-looking information is subject to various risks and
uncertainties, which could cause Knight Metals' actual results and experience to
differ materially from the anticipated results or expectations expressed. These
risks and uncertainties include, but are not limited to, reservoir performance,
labour, equipment and material costs, access to capital markets, interest and
currency exchange rates, and political and economic conditions. Additional
information on these and other factors is available in continuous disclosure
materials filed by Knight Metals with Canadian securities regulators. Readers
are cautioned not to place undue reliance on this forward-looking information,
which is given as of the date it is expressed in this news release or otherwise,
and to not use future-oriented information or financial outlooks for anything
other than their intended purpose. Knight Metals undertakes no obligation to
update publicly or revise any forward-looking information, whether as a result
of new information, future events or otherwise, except as required by law.

Knight Metals Ltd. (TSXV:KNP)
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