Silvermet Reports Continuing Profits in Q1 2012

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Silvermet Inc. ("Silvermet" or the "Company") (TSX VENTURE:SYI) is pleased to
announce continuing profits in Q1, 2012.


Highlights (in US$)

The highlights of the Company's Q1, 2012 results include the following
(operational figures expressed at 100%):




--  Silvermet is debt free. At March 31, 2012, it has cash and credit
    facility receivable of $4.0 million, or $0.025 per common share. 
--  EAFD throughput in Q1, 2012 increased by 15% to approximately 15,000 Dry
    Metric Tonnes ("DMT") from approximately 13,000 DMT in Q1, 2011. 
--  Production in Q1, 2012 increased by 15% to 3,634 DMT zinc concentrate
    (containing 67% zinc) compared to Q1, 2011 production of 3,154 DMT. 
--  Sales volume in Q1, 2012 increased by 18% to 4,270 DMT compared to 3,623
    DMT in Q1 2011, 3% higher than production increases, due to the timing
    of individual shipments. 
--  Revenues in Q1 2012 increased by 5% to $5.2 million (at 100%) compared
    to $5.0 million in Q1 2011, as a result of higher sales volume offset by
    lower zinc prices. 
--  EBITDA for both Q1, 2012 and Q1, 2011 were approximately $1.1 million,
    reflecting offsetting effect of increased revenues and increased direct
    operating costs. 



The following table summarizes comparative quarterly results and reconciles net
income, an IFRS measure, to EBITDA. Both 2012 and 2011 figures reflect
operational results at a proportionally consolidated level of 49%.




----------------------------------------------------------------------------
                                 Three months ended March 31,               
                        2012            2012             2011           2011
                        100%             49%             100%            49%
----------------------------------------------------------------------------
Revenue          $ 5,226,028    $  2,560,754    $   4,963,404    $ 2,432,068
                                                                            
----------------------------------------------------------------------------
EBITDA(1)        $ 1,109,561    $    484,045    $   1,147,508    $   540,440
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Net income                      $    285,716                     $   243,701
----------------------------------------------------------------------------
                                                                            
(1) EBITDA is a non-IFRS measure, does not have a standardized meaning      
    prescribed by IFRS and may not be comparable to similar terms and       
    measures presented by other issuers. EBITDA comprises net income (loss) 
    before income taxes, interest and financing expense (including accretion
    of liabilities), amortization expense and stock option expense. The     
    Company believes it is appropriate to exclude stock option expense from 
    EBITDA as a measure of operating performance that excludes non-recurring
    items.                                                                  



Silvermet has been generating positive cash flows since Q3, 2010. The working
capital position of the Company continues to strengthen with no debt,
established operations, relatively stable zinc prices and lower treatment
charges.


Silvermet's Turkish joint venture BST has recently signed two purchase
agreements for plant sites in Adana and Izmir as part of its aggressive
expansion plans. After the planned addition of the two new plants in Turkey,
annual EAFD processing capacity will increase from 60,000 to 280,000 tonnes.


Some recent developments:



--  Detailed engineering is presently underway. 
--  Environmental impact assessments and other related studies are underway
    to support the permit applications. 
--  Discussions are presently underway with financial institutions to secure
    project financing for the plants. 



About Silvermet:

Silvermet's principal business activity is the recycling of electric arc furnace
dust ("EAFD") obtained from steel companies through a Waelz kiln to recover zinc
concentrates that are then sold to zinc smelters throughout the world. The
Company owns 49% of BST, which operates a Waelz kiln facility located in
Iskenderun, Turkey.


Additional Information:

Additional information can be accessed at the Company's website www.silvermet.ca
or through the Company's public filings at www.sedar.com.


Caution concerning forward-looking statements: The information in this release
may contain forward-looking information under applicable securities laws. This
forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause actual results to differ materially from those
implied by the forward-looking information. Factors that may cause actual
results to vary include, but are not limited to, inaccurate assumptions
concerning the exploration for and development of mineral deposits, political
instability, currency fluctuations, unanticipated operational or technical
difficulties, changes in laws or regulations, the risks of obtaining necessary
licenses and permits, changes in general economic conditions or conditions in
the financial markets and the inability to raised additional financing. Readers
are cautioned not to place undue reliance on this forward-looking information.
The Company does not assume the obligation to revise or update this
forward-looking information after the date of this release or to revise such
information to reflect the occurrence of future unanticipated events except as
may be required under applicable securities laws. The TSX Venture Exchange does
not accept responsibility for the adequacy or accuracy of this release.
Silvermet Inc. (TSXV:SYI)
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