Malitao Ruling in Favor of Philippine Metals Subsidiary

Philippine Metals Inc. ("Philippine Metals" or the "Company") (TSX
VENTURE:PHI)(OTCQX:PHIXF)(FRANKFURT:PM7) is pleased to report that the Panel of
Arbitrators of the regional Mines and Geosciences Bureau (the "Panel") has now
ruled on the formal objection to the Company's Malitao Exploration Permit
Application ("EPA"). In its ruling, the Panel upheld that Pacific Metals Canada
Philippines Inc. ("PMCPI"), a wholly-owned subsidiary of Philippine Metals, is
the rightful title holder of the Malitao EPA under Philippine law and that the
adverse claim was without merit.


"This has been a frustrating and unforeseen experience for our Company. Our
focus on creating wealth for all stakeholders, including local communities, has
been unnecessarily diverted. The Company has already signed a Memorandum of
Agreement with the local community and has received sign off from the National
Commission on Indigenous Peoples. We will now work diligently with the Mines and
Geosciences Bureau to push forward the remaining application and approval
process for the granting of our Malitao exploration permit," stated Marshall
Farris, President of Philippine Metals.


Mr. Leo Dominguez, Director of PMCPI and a lawyer who co-authored the bill that
became the 1995 Philippine Mining Act added, "This objection filed on the
Malitao EPA was completely without merit and we are delighted that the EPA
review process as set out under the Mining Act has been successfully
administered to yield a just outcome."


The Company wishes to acknowledge and express its deep appreciation for the
strong and visible support received by our Company from the Governor of the
Province of Apayao, the Congresswoman of the Province of Apayao and the Mayor,
council members and community of Sitio Malitao, which has been extremely helpful
in advancing due process. The Company's stated objective to work with all
stakeholders in creating a stronger and healthier community has garnered a
strong partnership from which to build as it will now prepare to begin work on
the project.


Philippine Metals and PMCPI also wish to express their sincere appreciation for
the professionalism shown by members of the Mines and Geosciences Bureau and the
Department of Environment and Natural Resources in the resolution of this
matter.


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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