Metallum Resources Provides Corporate Update

Metallum Resources Inc. (TSX VENTURE:MRV) ("Metallum" or "Company") announces
that it has decided to withdraw from its Option and Joint Venture Agreement with
Silver Standard Resources Inc. on the M-18 gold property in Argentina. The
Company has informed Silver Standard Resources Inc. of its decision and has
begun the process of winding down its activities in Argentina.


Metallum's Board of Directors is actively searching for new opportunities for
the Company.


About Metallum Resources Inc.

Metallum has 70,945,009 common shares outstanding and approximately $7,000,000
in cash, with no debt.


Further details may be obtained from the Company's website:
www.metallumresourcesinc.com.


Neither TSX Venture Exchange nor its Regulations 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.


Forward Looking Information Caution:

This press release presents "forward-looking statements" within the meaning of
Canadian securities legislation that involve inherent risks and uncertainties.
Forward-looking statements include, but are not limited to, statements with
respect to the Metallum's ability to successfully establish, acquire or enter
into a transaction for a "new opportunity". Generally, these forward-looking
statements can be identified by the use of forward looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Metallum to be
materially different from those expressed or implied by such forward looking
statements, including but not limited to: risks related to the search for "new
opportunities"; risks related to international operations, risks related to the
integration of acquisitions; risks related to joint venture operations; actual
results of current or future reclamation activities; and delays in obtaining
governmental and/or regulatory approvals or financing. Although the management
and officers of Metallum believe that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions and have
attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements, there may
be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Metallum Resources does not undertake to
update any forward-looking statements that are incorporated by reference herein,
except in accordance with applicable securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Metallum Resources Inc.
Robert Suttie
Interim CEO
(416) 848-6865
rsuttie@mdcorp.ca
www.metallumresourcesinc.com

Metallum Resources Inc. (TSXV:MRV)
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