TSX:VGM

Virgin Metals Inc. announced that it has completed a private placement of 7,981,818 equity units ("Units") at a price of $0.055 per Unit resulting in gross proceeds of $439,000 to Virgin Metals. Each Unit consists of one common share of Virgin Metals ("Common Share") and one common share purchase warrant ("Warrant"). One whole Warrant will entitle the holder to subscribe for one Common Share at $0.09 at any time for two years from closing.

The net proceeds of the financing will be used for general corporate purposes.

All of the securities issued in connection with the financing will be subject to a four month hold period from the date of issue.

About Virgin Metals

Virgin Metals is a junior exploration and development company; its projects include two copper-molybdenum porphyry properties in Sonora, northern Mexico. One of these, Los Verdes, has been the subject of a pre- feasibility study and is expected to evolve rapidly towards production while the other, Cuatro Hermanos, has been the focus of an intense exploration effort.

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