Silvermet Reports 2013 Q1 Results

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 financial and operating results for Q1, 2013.


Highlights (in US$)

Corporate



--  In Q1, 2013 Silvermet adopted IFRS 11 and as a result changed the
    accounting for its interest in the Befesa Silvermet Turkey, S.L. ("BST")
    joint venture from proportionate consolidation to the equity method. 
--  At March 31, 2013, cash on hand at the corporate level was $1.6 million.
--  During Q1, 2013, Silvermet repurchased and cancelled 373,000 common
    shares under its normal course issuer bid at an average price of C$0.09
    per share for a total cost of C$34,209.



Joint Venture (expressed at 100%): 



--  Sales volume in Dry Metric Tonnes ("DMT") in Q1, 2013 decreased by 32%
    to 2,919 DMT of zinc concentrate, containing 4.3 million pounds of zinc,
    compared to the 6.4 million pounds of zinc sold in Q1, 2012, mainly due
    to higher opening inventory levels in Q1, 2012 and a 32 day shutdown
    related to kiln refractory brick replacement during Q1, 2013. 
--  Production in Q1, 2013 decreased by only 6% to 3,431 DMT zinc
    concentrate (containing 67% zinc) compared to Q1, 2012 production of
    3,657 DMT due to much higher daily productivity rates, despite the 32
    day shutdown during Q1, 2013. 
--  The cash cost per pound (treatment & transportation costs + direct
    operating costs / pounds zinc sold) in Q1, 2013 has remained stable at
    $0.61/lb. 
--  EBITDA(1) in Q1, 2013 decreased by 37% to $0.68 million compared to
    $1.08 million in Q1, 2012, reflecting primarily the decrease in sales
    volume. 
--  At March 31, 2013, cash on hand at BST was $5.3 million.

(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 earnings before   
    income taxes, interest expense (income) and financing expense (including
    accretion of liabilities), amortization expense, foreign exchange loss  
    (gain), other expenses including gain on dilution and stock option      
    expense. The Company believes it is appropriate to exclude stock option 
    expense, gain on dilution and accretion of liabilities from EBITDA as a 
    measure of operating performance that excludes non-recurring items.     



Expansion: 

Progress continues to be made in the Turkish expansion plans:



--  Environmental permits have been received for the planned Adana and Izmir
    plants. 
--  $49 million European Bank for Reconstruction and Development ("EBRD")
    project financing for the Adana plant (out of a total cost of $70
    million) is pending completion of documentation. 
--  Various operating and construction agreements are under negotiation;
    construction of the Adana plant is scheduled to begin in Q3, 2013. 
--  Silvermet is in discussions with investors on funding its $10 million
    share of the equity component of Adana project costs.



About Silvermet:

Silvermet's principal business activity is the recycling of electric arc furnace
dust ("EAFD"), a waste product created by steel mills, through a Waelz kiln to
produce a zinc concentrate that is sold to smelters throughout the world. The
Company owns 49% of Befesa Silvermet Turkey ("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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Silvermet Inc.
Stephen G. Roman
Chairman, President & CEO
1 (416) 203-8336
info@silvermet.ca


Silvermet Inc.
Ian D. Atacan
Chief Financial Officer
1 (416) 203-8336
iatacan@silvermet.ca


Silvermet Inc.
8 King St. East, Suite 1700
Toronto, ON, M5C 1B5, Canada
1 (416) 203-8336
www.silvermet.ca
Silvermet Inc. (TSXV:SYI)
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