TORONTO, ONTARIO--(Marketwire - May 4, 2011) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Silvermet Inc. ("Silvermet" or the "Company") (News - Market indicators) is pleased to announce the release of its financial and operating results for 2010.

Highlights

• Silvermet achieved cash flow positive operations in Q3, 2010.
• Silvermet signed a 51%/49% joint venture with Befesa Medio Ambiente, S.A. ("Befesa") of Spain, and formed Befesa Silvermet Turkey S.L. ("BST").
• Production increased 110% to 11,548 DMT (Dry Metric Tonnes zinc concentrate containing 68% zinc) from 5,484 DMT in 2009.
• Sales volumes increased 222% to 12,581 DMT from 3,903 DMT in 2009.
• Revenues increased 251% to $15.9 million (at 100%) in 2010 from $4.5 million in 2009 due to increased shipments of zinc concentrates and higher zinc prices

"Silvermet is now an operationally stable company with significant growth potential through expansion of its operations in Turkey. During the past three quarters we have been generating positive cash flow from our business. Our joint venture company, BST, currently has $5.3 million cash available to be used for capital improvements to the existing facility and to further progress with a new kiln," said Stephen G. Roman, Silvermet's Chairman, President and CEO. "For 2011 we will focus on continued improvements and building additional capacity".

About Silvermet:

Silvermet's principal business activity is the recycling of electric arc furnace dust ("EAFD") obtained from steel companies through a Waelz kiln to recover zinc concentrates that are then sold to zinc smelters throughout the world. The Company's Waelz kiln facility is located in Iskenderun, Turkey and has been operational since May 2009.

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.