DNI Concludes Flow Through Financing

    




 DNI METALS INC.  

 TORONTO, Dec. 22, 2011 /CNW/ - DNI Metals Inc.  is pleased to announce that it has completed a non-brokered private  placement of 2,990,000 flow-through shares, at a price of 40 cents per  share, with arm's length and non-arm's length parties, for aggregate  gross proceeds of $1,196,000. Of the foregoing placements, $600,000  were subscribed for by an insider of DNI who is at arm's length to  DNI's management. The securities issued under the private placements  are subject to a four-month hold period expiring on April 23, 2012. 

 An aggregate of $82,600, were paid by way of finder fee in connection  with a portion of the placements, in addition to 206,500 broker  warrants entitling the holders to acquire 206,500 shares of DNI for a  period of eighteen months from closing at a price of 40 cents per  share. 

 The placements are exempt from the formal valuation and minority  shareholder approval requirements of MI 61-101 as neither the fair  market value of any shares issued to or the consideration paid by such  persons will exceed 25% of DNI's market capitalization. 

 Proceeds of the financing will be applied toward DNI's polymetallic  shale projects, Athabasca region. 

 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: 63,399,284 (post-financing) 

DNI Metals Inc.


CONTACT:  DNI Metals Inc. - Shahe Sabag, President & CEO or Denis Clement,Chairman - 416-595-1195email [e-mail]. Also visit www.dnimetals.com 


    

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