Silvermet Announces Exercise of Warrants

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 that 5,725,000 of the warrants issued in connection with the May 1,
2009 private placement have been exercised prior to their expiry on November 5,
2010. Accordingly, the Company has issued 5,725,000 shares at $0.10 per share
for total proceeds of $572,500. 


With the issuance of these shares, the issued and outstanding common shares of
Silvermet have increased to 156,130,216 shares, including the 16,000,000 shares
that were issued to Befesa as part of the recent joint venture transaction. 


About Silvermet:

Silvermet's Waelz kiln operations in Iskenderun, Turkey were acquired in
February 2009 and have been operating since mid-May 2009 to recover zinc
contained in the EAFD that is produced as a waste product by local steel mills.


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.