Philippine Metals Inc.: Corporate Update

   Philippine Metals Inc. ("Philippine Metals" or the "Company") (TSX VENTURE: PHI)(OTCQX: PHIXF)(FRANKFURT: PM7) announces that Mr. Craig Lindsay has agreed to join the Company's Board of Directors replacing Lou Clinton who has resigned his position as a Director of the Company to pursue other interests.

Mr. Lindsay has in excess of 20 years experience in corporate finance, investment banking and business development in both North America and Asia and is currently the President and CEO of Otis Gold Corp. and Managing Director of Arbutus Grove Capital Corp., a private company offering corporate finance and merchant banking services. Mr. Lindsay is a former resident of Hong Kong where he was a senior executive at The Pacific Rim Group, which provided financial advisory, venture capital and related services to Asian and North American clients. He was a co-founder and CFO of OneAsia.com, an innovative B2C internet retailer of Asian language entertainment products, which was acquired by tom.com Limited, a company associated with Hutchinson Whampoa Ltd. Mr. Lindsay has extensive experience in the natural resource sector at the Director and Officer level, and currently sits on the boards of Tarsis Resources Ltd. and Galena Capital Corp.

Mr. Lindsay is active in the community, currently serving as the President of the Hong Kong Canada Business Association, Vancouver Section and a Director of the Association's National Board. Additionally, he is a former Chairman of the Family Services of Greater Vancouver.

Marshall Farris, President of Philippine Metals stated, "We are very pleased to welcome Craig to our board. His diverse business experience in both Asia and in the mining industry will be a significant asset to the Company. On behalf of the Company's management and its Board of Directors I wish to thank Mr. Clinton for his invaluable support in helping guide the Company during this early stage of its operations in the Philippines and wish him well with his future endeavors."

About Philippine Metals Inc.

Philippine Metals Inc. is focused on the exploration, discovery and development of highly prospective copper and copper-gold deposits in the Philippines. Based on the region's geological environment, the company's management team recognizes the country's potential for hosting large, world-class deposits of copper and copper-gold.

The Company's initial projects, Taurus, Malitao and Dilong, are examples of management's ability to source quality, highly prospective targets. The management team combines strong financial capabilities with world-class experience in mineral exploration, discovery and mine development.

ON BEHALF OF THE BOARD OF PHILIPPINE METALS INC.

Feisal Somji, Chief Executive Officer

This news release contains forward-looking information including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations and potential mineral recovery. Forward-looking information includes disclosure regarding possible future events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. When used in this news release. The words "estimated", "plan", "anticipated", "expected", "intend", believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. For any forward-looking information given, management has assumed that the analytical results it has received are reliable, and has applied geological interpretation methodologies which are consistent with industry standards. Although management has a reasonable basis for the conclusions drawn, there can be no assurance that forward-looking statements will prove to be accurate and actual results may differ materially from those currently anticipated in such statements. Forward-looking statements included in this news release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

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.

Contacts: Philippine Metals Inc. Marshall Farris President & Director 604.684.4743 ext. 222 403.398.0693 (FAX) [e-mail] www.philippinemetals.com Ascenta Capital Partners Inc. Jamie Mathers Investor Relations 604.684.4743 ext. 236 or 866.684.4209 [e-mail]