Mr. Chris Frostad reports

VIRGIN METALS INC. ANNOUNCES SPECIAL BOARD COMMITTEE AND FINANCING EXTENSION

Virgin Metals Inc. is currently reviewing several strategic transactions, better positioning the company to take advantage of current market conditions. These transactions involve a number of alternatives focused on providing necessary financing as well as opportunities to increase the asset base of the company. To ensure proper oversight, the board has appointed a special committee of independent members to evaluate these transactions and provide recommendations.

"Over the past year, we have been evaluating a broad number of alternatives with the objective of ensuring not only the secure advancement of the company's projects, but the opportunity to position Virgin into the future," said Chris Frostad, president and chief executive officer. "We are now looking to evaluate and choose the best alternative for the company."

To accommodate a possible transaction, the company has postponed its annual general meeting originally scheduled for June 20, 2013. A new date will be set as soon as practical.

The company is also announcing the extension of its financing (see press release dated May 10, 2013) to July 10, 2013. The private placement consists of 20 million units at a price of 7.5 cents per unit. Each unit comprises one common share and one common share purchase warrant of the company. Each warrant will entitle the holder to purchase one common share for a period of 24 months following the closing date of the private placement at a price of 10 cents per common share. The net proceeds of the private placement will be used to further advance the prefeasibility report on the company's Los Verdes property, as well as for working capital and general administrative purposes.

We seek Safe Harbor.