Philippine Metals Inc. Announces Completion of Share Consolidation

Philippine Metals Inc. (the "Corporation" or "Philippine Metals") (TSX
VENTURE:PHI)(FRANKFURT:PM7) announces that it has completed a consolidation of
its common shares on the basis of one (1) new post-consolidation common share
for every eight (8) pre-consolidated common shares. The approximately 44,316,260
common shares of the Corporation outstanding will be reduced to approximately
5,539,533 common shares, as approved by shareholders at the Corporation's annual
general and special meeting held on April 5, 2013. No fractional shares will be
issued. Any fractions of a share will be rounded to the nearest whole common
share. A new CUSIP number of CA7182572072 replaces the old CUSIP number of
CA718257108, to distinguish between the pre- and post-consolidated shares. The
Corporation's name and trading symbol will remain unchanged.


Philippine Metals' common shares are expected to begin trading on a
post-consolidation basis on the TSX Venture Exchange when markets open on
Wednesday, August 21, 2013.


Additionally, the Corporation announces the resignation of Mr. James Glass as a
director. The Corporation would like to thank Mr. Glass for his valuable
contributions to the Corporation and wishes him well in his future endeavors.


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.


ON BEHALF OF THE BOARD OF PHILIPPINE METALS INC.

Craig Lindsay, CEO and Director

Neither the TSX Venture Exchange nor its Regulation 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.


Statements in this press release contain forward-looking information within the
meaning of applicable securities law. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements that certain
events or conditions "may" or "will" occur. Readers are cautioned that
assumptions used in the preparation of forward-looking information may prove to
be incorrect. Although we believe that the expectations reflected in the
forward-looking information are reasonable, there can be no assurance that such
expectations will prove to be correct. We cannot guarantee future results, level
of activity, performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same, in whole or in
part, as those set out in the forward-looking information. The forward-looking
information contained in this news release is expressly qualified by this
cautionary statement. The Corporation undertakes no obligation to update or
revise any forward-looking statements to conform such information to actual
results or to changes in our expectations except as otherwise required by
applicable securities legislation. Readers are cautioned not to place undue
reliance on forward-looking information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Philippine Metals Inc.
Marshall L. Farris
President and Director
604.637.6373 ext. 1
marshall@philippinemetals.com
www.philippinemetals.com

Philippine Metals (TSXV:PHI)
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