TORONTO, ONTARIO--(MARKET WIRE)--Apr 14, 2008 -- Silvermet Inc. ("Silvermet") (CDNX:SYI.V - News) Further to its press release of April 8, 2008 regarding the potential spin out of its Muskox interest and rights, Silvermet wishes to make it clear that any potential reorganization of Silvermet's Muskox interest and rights is subject to any number of conditions, one of which includes Silvermet obtaining the prior written approval of Prize Mining Corporation, the property owner. Silvermet anticipates that it will soon approach Prize Mining Corporation to commence discussions in this regard. If the spin out occurs subsequent to Silvermet earning its interest no approval is required from Prize Mining.

Silvermet Inc. is an exploration and development company presently focused on developing a number of zinc projects in Turkey and exploring its nickel-copper-platinum group metals project located in Nunavut, Canada.

Caution concerning forward-looking statements: The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raised additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events except as may be required under applicable securities laws. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release.

     Contacts:
     Silvermet Inc.
     Clifford H. Frame
     Chairman
     (416) 203-8336
     (416) 203-9483 (FAX)
      
     Silvermet Inc.
     Stephen G. Roman
     President and CEO
     (416) 368-3949
     Website: http://www.silvermet.ca