Virgin Metals Announces Closing of Private Placement



    TSX
    Symbol: VGM

    TORONTO, May 19 /CNW Telbec/ - Virgin Metals Inc. ("Virgin Metals")
announces that it has completed a private placement of 13,750,000 equity units
("Units") at a price of $0.04 per Unit resulting in gross proceeds of $550,000
to Virgin Metals. Each Unit consists of one common share of Virgin Metals
("Common Share") and one-half of one common share purchase warrant
("Warrant"). One whole Warrant will entitle the holder to subscribe for one
Common Share at $0.08 at any time for two years from closing.
    The net proceeds of the financing will be used for general corporate
purposes.
    All of the securities issued in connection with the financing will be
subject to a four month hold period from the date of issue.

    About Virgin Metals

    Virgin Metals is a junior exploration and development company; its
projects include two copper-molybdenum porphyry properties in Sonora, northern
Mexico. One of these, Los Verdes, has been the subject of a pre-feasibility
study and is expected to evolve rapidly towards production while the other,
Cuatro Hermanos, has been the focus of an intense exploration effort.

    FORWARD-LOOKING STATEMENTS

    This press release includes certain "forwardlooking information" within
the meaning of the Securities Act (Ontario), including, but not limited to,
statements as to timing and extent of exploration programs and the
availability of exploration results. As such, forwardlooking information
addresses future events and conditions and so involves inherent risks and
uncertainties, as disclosed under the heading Risk Factors and elsewhere in
Virgin Metals documents filed from time to time with the Ontario Securities
Commission and other regulatory authorities. Actual results could differ
significantly from those currently projected as a result of, among those
factors, adverse weather, regulatory changes, delays in receiving permits,
accidents and delays in completing exploration activities not all of which are
in the control of Virgin Metals. The forwardlooking information contained
herein is Virgin Metals reasonable estimate today of future events and
conditions, but no assurance can be given that such events or conditions will
occur.




For further information:

For further information: Kookie Miller, (416) 364-9988,
kmiller@virginmetals.com

Organization Profile

VIRGIN METALS INC.

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