Aegean Extends Letter of Intent for Hot Maden Gold-Copper Prospect, Turkey

Aegean Metals Group Inc. (TSX VENTURE:AGN)(FRANKFURT:A91) ("Aegean" or the
"Company") announces a 30-day extension (the "Extension") to the previously
announced binding Letter of Intent (the "LOI") with Lidya Madencilik Sanayi ve
Ticaret A.S. ("Lidya"), a Turkish exploration company, for Lidya to acquire a
70% interest in the Company's Hot Maden gold-copper prospect ("Hot Maden" or the
"Property") in Artvin Province, Eastern Turkey. The Extension was mutually
agreed upon by both Aegean and Lidya for the completion of further due
diligence.


About Aegean Metals Group Inc.

Aegean Metals Group Inc. (TSX VENTURE:AGN) is a Canadian junior exploration
company focused on the acquisition, exploration and development of high grade
gold, copper and polymetallic deposits in favourable jurisdictions that have the
potential to become operating mines with strong cash flows. The Company
currently holds two projects in Turkey: the 100% owned Hot Maden gold and base
metal prospect in northeast Turkey (subject to a 2% NSR to Teck Resources
Limited) and the Ergama high sulfidation epithermal gold prospect in western
Turkey, where Aegean will ultimately retain a 49% interest upon completion of
Teck Resources' back-in expenditure commitments. An LOI has also been signed for
the Vicuna-Llareta property in Northern Chile. For more details on the Company,
please visit www.aegeanmetalsgroup.com.


Forward-Looking Statement

This news release includes certain "forward-looking information" within the
meaning of that phrase under Canadian securities laws. Without limitation,
statements regarding potential mineralization and resources, exploration
results, and future plans and objectives of the Company contain forward-looking
information that involves various degrees of risk. Forward-looking information
reflects management's beliefs and assumptions and subject to known and unknown
risks and uncertainties, both general and specific to the Company. Although the
Company believes the expectations expressed in such forward-looking information
are reasonable, such information and statements are not guarantees of future
performance and actual results or developments may differ materially from those
in our forward-looking information. The following are important factors that
could cause the Company's actual results to differ materially from those
expressed or implied by such forward-looking information: changes in the world
wide price of commodities, general market conditions, risks inherent in
exploration, risks associated with development, construction and mining
operations, the uncertainty of future profitability and the uncertainty of
access to additional capital. Additional information regarding the material
factors and assumptions that were applied to develop this forward-looking
information as well as the various risks and uncertainties we face are described
in greater detail in the "Risk Factors" section of Management's Discussion and
Analysis of our financial results and other continuous disclosure documents and
financial statements we file with the Canadian securities regulatory authorities
which are available at www.sedar.com. The Company undertakes no obligation to
update this forward-looking information except as required by applicable law.


Neither 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Aegean Metals Group Inc.
Kelly Earle
Investor Relations
[phone]
[e-mail]


Aegean Metals Group Inc.
Eric Roth
President & CEO
[phone]
[e-mail]
www.aegeanmetalsgroup.com