Philippine Metals Working With MGB to Overturn Cancellation of Dilong EPA

Philippine Metals Inc. ("Philippine Metals" or the "Company") (TSX
VENTURE:PHI)(OTCQX:PHIXF)(FRANKFURT:PM7) announces that since the date of the
local elections in Tubo, Abra last October, the Company has accelerated its
constructive efforts to work with the new local government and community leaders
to gain their support for its Exploration Permit Application ("EPA") at Dilong.
Negotiations with the rightful indigenous peoples to acquire Free and Prior
Informed Consent (FPIC) have been initiated and are progressing positively and
consultation with the Local Government Unit's Sanggunian has been ongoing, both
key aspects of the EPA process. However, as a result of the Philippine
government Mines and Geosciences Bureau's (the "MGB") "use it or lose it
policy", which it has now taken steps to enforce, the Company has recently
received formal notification from the MGB that its Dilong EPA has been
cancelled. The Company believes that its permit has not been cancelled legally
and it is currently in discussions with the MGB to resolve this matter and has
filed with the MGB central office the appropriate objection notice, supported by
documentation already filed with the MGB regional office demonstrating that the
Company has been actively progressing its permit application and complying with
all of the requirements set by the government, as described above. In addition,
the Company notes that in its case, the MGB appears not to have observed its
"three-letter-policy" of notification in exacting compliance in respect of its
Dilong EPA.


The Company will continue to engage with the MBG to rectify this situation and
expects that its Dilong EPA will be reinstated in due course. The Company is
supportive of the MGB's efforts to drive reform in the Philippines mining
industry and will continue to engage with and support the government in its
efforts to implement its reform program. The Company will provide a further
update as developments require.


About Philippine Metals Inc. 

Philippine Metals Inc. is focused on the exploration, discovery and development
of highly prospective copper and copper-gold deposits in the Philippines. Based
on the region's geological environment, the company's management team recognizes
the country's potential for hosting large, world-class deposits of copper and
copper-gold.


The Company's initial projects, Taurus, Malitao and Dilong, are examples of
management's ability to source quality, highly prospective targets. The
management team combines strong financial capabilities with world-class
experience in mineral exploration, discovery and mine development.


ON BEHALF OF THE BOARD OF

PHILIPPINE METALS INC.

Feisal Somji, Chief Executive Officer

This news release contains forward-looking information including but not limited
to comments regarding the timing and content of upcoming work programs,
geological interpretations and potential mineral recovery. Forward-looking
information includes disclosure regarding possible future events, conditions or
results of operations that is based on assumptions about future economic
conditions and courses of action, and therefore, involves inherent risks and
uncertainties. When used in this news release. The words "estimated", "plan",
"anticipated", "expected", "intend", believe", and similar expressions are
intended to identify forward-looking statements. These statements involve known
and unknown risks, uncertainties and other factors that may cause the actual
results, performance or achievements of the Company to be materially different
from any future results, performance or achievement expressed or implied by such
forward-looking statements. For any forward-looking information given,
management has assumed that the analytical results it has received are reliable,
and has applied geological interpretation methodologies which are consistent
with industry standards. Although management has a reasonable basis for the
conclusions drawn, there can be no assurance that forward-looking statements
will prove to be accurate and actual results may differ materially from those
currently anticipated in such statements. Forward-looking statements included in
this news release are made as of the date of this press release and the Company
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise,
except as expressly required by applicable securities legislation.
Philippine Metals (TSXV:PHI)
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