Philippine Metals Inc. Announces Voting Results of Annual Meeting and Grant of Stock Options

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.


Philippine Metals Inc. (the "Corporation" or "Philippine Metals") (TSX
VENTURE:PHI)(OTCQX:PHIXF)(FRANKFURT:PM7) is pleased to announce the results of
the Annual General and Special Meeting of Shareholders held on January 6, 2012
(the "AGM"). Marshall Farris, the President, Feisal Somji, the Chief Executive
Officer, J. Roberto Delgado, James Glass, Edward Farrauto and Craig Lindsay were
re-elected as the Board of Directors of the Corporation for the upcoming year.


In addition to the annual resolutions, including the appointment of auditors, a
resolution was passed approving a new stock option plan (the "New Plan") of the
Corporation. The New Plan is a 20% fixed stock option plan and contains certain
provisions with respect to withholding requirements adopted by Canada Revenue
Agency on employee stock option benefits. For additional information, refer to
the management information circular dated December 7, 2011 prepared in respect
of the AGM, a copy of which is available under the Corporation's SEDAR profile
at www.sedar.com. The Corporation wishes to thank its shareholders for the
overwhelming support.


The Corporation also announces that it has issued an aggregate of 365,000
options to Mr. Lindsay, a director of the Corporation. The options have an
exercise price of $0.15 per share and will expire on January 6, 2017. The stock
option grant is subject to regulatory approval. The Corporation has determined
that exemptions from the various requirements of TSX Venture Exchange Policy 5.9
are available for the grant of stock options to Mr. Lindsay.

Philippine Metals (TSXV:PHI)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024