Mr. Julien Davy reports

CANADIAN METALS ANNOUNCES PRIVATE PLACEMENT OF UP TO $2.3 MILLION

Canadian Metals Inc. has arranged a non-brokered private placement of units and flow-through units for gross proceeds of up to $2.3-million. This financing is intended to advance the company's exploration programs on its five properties in the Bathurst mining camp, New Brunswick.

The offering will consist of up to $2.3-million in aggregate gross proceeds, comprising up to 8,181,818 units at a price of 11 cents per unit and 11,666,666 flow-through (FT) units at a price of 12 cents per FT unit. Each unit will comprise one common share in the capital of the company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share at a price of 18 cents for a period of 18 months from the closing of each tranche of the offering. Each FT unit will comprise one common share issued as a flow-through share and one-half of one common share purchase warrant. Each whole FT unit warrant will entitle the holder thereof to purchase one common share at a price of 20 cents for a period of 18 months from the closing of each tranche of the offering.

The offering is being conducted on a non-brokered basis and all shares and warrants issued will be subject to a statutory hold period of four months and one day from the closing of each tranche of the offering. The company may pay finders' fees on a portion of the offering, subject to compliance with the policies of the Canadian Securities Exchange and applicable securities legislation. Closing of the offering is subject to certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals and the acceptance of the CSE.

The company intends to use the gross proceeds from the sale of the FT units to incur exploration expenses that are eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as such terms are defined in the Income Tax Act (Canada).

About Canadian Metals Inc.

Canadian Metals is a diversified resource company focused on creating shareholder value through the development of large-scale mineral deposits in specific commodities and safe jurisdictions. The company currently has over 250 square kilometres of highly prospective land in New Brunswick, Canada; the projects are within and bordering the prolific Bathurst mining camp (BMC) and are 100 per cent owned. The properties cover a range of geological target types typical within Appalachian Orogenic environment. Those targets include silver-lead-zinc VMS (volcanic massive sulphide), structurally controlled gold, porphyry copper-gold-molybdenum, antimony-gold-arsenic associated with intrusions and skarn lead-zinc-copper-silver mineralization.

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