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Silvermet to Extend Normal Course Issuer Bid; Shares Up 25%

Silvermet Inc. (SYI.V) announced today that it has filed a Notice of Intention to make a Normal Course Issuer Bid with the TSXV, which will extend the current NCIB (March 12, 2012 - March 11, 2013) under which the Company purchased a total of 5,081,000 common shares through the close of trading March 8, 2013 at an average price of $0.075 per common share.

On renewal of the NCIB and subject to regulatory approval, the Company may purchase up to 10,828,988 common shares which number of common shares is equal to 10% of the Company's public float as of the date hereof, during the 12 month period ended March 11, 2014 through D&D Securities Inc.

As announced in its news release dated February 27, 2013 Silvermet has arranged senior project financing for the construction of a new production facility which on completion and operation, will materially increase the Company's production volumes and earnings.

Silvermet said it is of the opinion that the current market price of its common shares does not reflect fair value and as such purchases made under the NCIB represent good value to Silvermet and its shareholders.

Shares are up 2 cents (25%) late morning, to 10 cents. Volume traded is 59,000.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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