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Re:   News - Tuesday, January 31, 2012
      INV Metals Reports 2012 Outlook
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TORONTO, ON - JANUARY 31, 2012 - INV Metals Inc. ("INV Metals" or
"Company") (TSX:INV) is pleased to provide guidance on the Company's
2012 operating budget and exploration program. INV Metal's unaudited
cash balance as at December 31, 2011 was approximately $12.8 million.
The Company's 2012 exploration and operating budget is estimated at
$6.4 million, including planned exploration expenditures of $1.1
million at the Rio Novo copper-gold property ("Rio Novo"), $2.4 million
at the Kaoko copper property ("Kaoko") and $250,000 at the Itapor� gold
property.

Kaoko Property, Namibia

The extensive Kaoko copper property is located in northwest Namibia.
The primary target at Kaoko is sediment hosted copper and silver
deposits similar to those in the African Copper Belt.

The 2011 exploration program included the reporting of the initial
inferred resource at the Okohongo target of 10.2 million tonnes grading
1.1% copper and 17.8 grams per tonne silver, at a cut-off grade of 0.3%
copper. The Company is currently awaiting the results of the follow-up
drill programs completed in December 2011 at the Omatapati target,
where initial drilling intersected 19 metres grading 2.0% copper and
119.8 grams per tonne silver, and at the Okozonduno target where
initial drilling intersected 20 metres grading 1.2% copper and 24.6
grams per tonne silver.
 
The 2012 exploration program will focus on drilling at the
Otjohorowara, Otjite, NS Showing and Epunguwe targets, follow-up
drilling at the Omatapati and Okozonduno targets if warranted and the
completion of an extensive soil sampling program which commenced in
2011. The Company is also undertaking an extensive structural basin
analysis to determine controls on mineralization which may aid in the
further identification of large scale targets which are not exposed at
surface.

Rio Novo Property, Caraj�s, Brazil

At the Rio Novo North target, located in the Caraj�s district, Brazil,
which is contiguous and along strike to the Serra Pelada precious
metals deposit, drilling is on-going to continue to test the potential
for high grade precious metals mineralization.

Itapor�, Brazil

The exploration program at Itapor� consists of two Diamond drill holes
to complete the program initiated in late 2011. INV Metals is currently
awaiting the results of the two holes completed in 2011. The program
was designed to test gold in soil geochemical anomalies and to follow
up on previous drilling completed by INV Metals in 2009.

For further information regarding the Kaoko property's Okohongo initial
inferred resource please refer to the Company's technical report filed
on SEDAR at www.sedar.com and entitled "Technical Report on the
Okohongo Copper-Silver Property in Northwest Namibia" prepared by
Philip John Hancox and Sivanesan Subramani and dated effective March
31, 2011. There has been insufficient exploration to-date to define a
mineral resource on the Rio Novo or Itapor� properties and it is
unknown if further exploration will result in such properties being
delineated as a mineral resource.

INV Metals entered into agreements with a subsidiary of Teck Resources
Limited which provide INV Metals the right to acquire an initial 50%
interest in the extensive Kaoko property, located in northwest Namibia
and the Rio Novo property, located in Brazil (see INV Metals' press
release dated August 4, 2009).

All scientific and technical information contained in this press
release has been prepared under the supervision of, and verified by
Keith Webb, an INV Metals employee and a "qualified person" within the
meaning of National Instrument 43-101 of the Canadian Securities
Administrators.

About INV Metals

INV Metals is an international mineral resource company focused on the
acquisition, exploration and development of base and precious metal
projects in Brazil, Namibia and Canada.  Currently, INV Metals' primary
assets are: (1) its option to acquire 50% of the Rio Novo property,
located in Brazil, (2) its option to acquire 50% of the Kaoko property,
located in Namibia, and (3) its 100% owned Itapor� gold properties,
located in Brazil.

Forward-Looking Statement

This press release contains certain forward-looking statements. Forward
looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievement of INV Metals to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements.  Such factors include, among others, risks
related to the actual results of current exploration activities,
conclusions of economic evaluations, risks associated with mining and
mineral exploration activities, uncertainty in the estimation of
mineral resources, including, without limitation, the assumptions on
which such estimates are based, changes in project parameters as plans
continue to be refined, future prices of metals, economic and political
stability in Canada, Namibia and Brazil, environmental risks and
hazards, increased infrastructure and/or operating costs, availability
of future financing, labour and employment matters, and government
regulation. There is no guarantee that any drill targets or economic
mineral deposits will be found on INV Metals' properties. For a more
detailed discussion of such risks and other factors, refer to INV
Metals' annual information form filed with Canadian securities
regulators available on www.sedar.com.

For further information, please contact:

Robert Bell
Chief Executive Officer
(416) 703-8416
E-mail: rbell@invmetals.com

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Copyright (c) 2012 INV METALS INC. (INV)  All rights reserved.  For
more information visit our website at http://www.invmetals.com/ or send
mailto:info@invmetals.com
Message sent on Tue Jan 31, 2012 at 5:07:17 AM Pacific Time
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