DNI CONCLUDES FINAL TRANCHE FINANCING TO COMMENCE DRILLING ON ITS ALBERTA POLYMETALLIC BLACK SHALE PROJECTS, ATHABASCA REGION, A

TORONTO, Dec. 23 /CNW/ -- 
DNI METALS INC. (DNI : TSX-Ven, DG7 : Frankfurt)


TORONTO, Dec. 23 /CNW/ - DNI Metals Inc. (DNI:TSX-Ven, DG7:FSE) is pleased to announce that it has completed the second closing of a
 non-brokered private placement of flow-through shares with an insider
 for aggregate gross proceeds of $240,000. The securities issued under
 the private placement are subject to a four-month hold period expiring
 on April 24, 2011.


The financing consisted of the placement of 2 million flow-through
 shares at a price of 12 cents per share. A commission was paid in
 connection with the placement, consisting of an aggregate of $19,200
 and issuance of 160,000 warrants, each warrant entitling the holder to
 purchase an additional common share of the company at a price of 12
 cents for a period of eighteen months from closing. Shares underlying
 the broker warrants are subject to a four-month hold period expiring on
 April 24, 2011.


Proceeds of the financing, together with funds secured during the past
 few months, will be applied toward commencing a winter drilling program
 to advance the two Potential Mineral Deposits previously identified
 (announced November 10, 2008) through resource studies toward scoping
 and economic studies.


DNI continues to focus its efforts on its polymetallic black shale
 Properties in Alberta, and on its carried interest in the diamond
 discovery on its Attawapiskat Property, Ontario.


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.


DNI - TSX Venture
DG7 - Frankfurt
Issued: 37,800,217 (Post-Financing)



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pDNI Metals Inc. - Shahe Sabag, President & CEO or Denis Clement,  Chairman - 416-595-1195br/ email a href="mailto:[e-mail]"[e-mail]/a. Also visit a href="http://www.dnimetals.com"www.dnimetals.com/a/p

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