Virgin Metals Provides Update on Mexico Projects



    TSX
    Symbol: VGM
    Shares Outstanding: 78,951,885

    TORONTO, Nov. 7 /CNW Telbec/ - Virgin Metals Inc. (TSX: VGM) ("Virgin
Metals" or the "Company") provides the following update on its molybdenum and
copper projects in Sonora, northern Mexico.
    At Los Verdes, engineering work for the feasibility study is approaching
completion with conceptual plant and associated earth works design essentially
complete. Capital and operating cost estimates are currently being prepared.
The Company is presently working on an interim resource model, based on
reverse circulation drilling only and including mineralization located on the
Bacanora claim, which was excluded from the previous resource estimate and on
which drilling has now been completed. A total of 75 reverse circulation holes
and 25 diamond drill holes have now been drilled on the property. However, the
model will not be NI 43-101 compliant until diamond drill data and historical
data from 1970's is incorporated into the model. Assays from diamond drill
data are still awaited and a final resource model is not expected until
January 2008, after which a mining schedule will be prepared for inclusion in
the final feasibility study report.
    It should be noted that the coarse nature of the molybdenite
mineralization and the rubbly nature of much of the drill core dictated that
whole core sampling be employed. Exhaustive geologic logging, geotechnical
analysis and density data were obtained from the core before submittal for
analysis. Core from three holes has been retained for visual and geologic
reference.
    At Cuatro Hermanos, assay results for the current reverse circulation
drill program are starting to trickle in, but the Company faces the same
problem as all exploration firms, of massive delays at commercial assay
laboratories. It is currently taking up to nine weeks from submittal of
samples until assay certificates are received. The company hopes to release
assays from holes CHRC05-07 to CHRC11-07 within the next few weeks.
    Drilling is currently in progress on hole CHRC16-07, after major delays
due to stuck rods in CHRC15-07. A total of 22 drill holes are planned for the
Sulfate and Main zones, which lie on the northeast and east side of the
porphyry system, respectively. One of the goals of the present exploration
campaign is to demonstrate that copper-molybdenite mineralization is
contiguous between the two zones, and in so doing the Company will ultimately
produce NI 43-101 compliant mineral resources for the areas. Hole CHRC16-07 is
planned to step out from the high grade molybdenum values recorded in hole
CHRC04-07. The Company then plans to move the drill to the west end of the
property, to evaluate high grade molybdenum values noted at surface there,
before returning to the Main and Sulfate zones for completion of the 22 hole
program in the light of additional assay results.
    The Company also announces the appointment of Mr. Patrick Gorman to the
Board of Directors. Patrick is a mining engineer with qualifications from both
the Royal School of Mines and Colorado School of Mines. He currently practices
as a consultant and has recently worked on numerous due diligence assignments.
His consulting background includes work at Micon and MRDI and his career
experience includes appointments at Cluff Resources, BHP and Anglo American.
Patrick has extensive experience of working in Latin America, where he has
held senior project responsibility, including preparing the feasibility study
for the Escondida project.

    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, is undergoing a feasibility study and is
expected to evolve rapidly towards production while the other, Cuatro
Hermanos, is presently the focus of an intense exploration effort.

    FORWARD-LOOKING STATEMENTS

    This press release includes certain "forward-looking 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, forward-looking 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 forward-looking information contained
herein is Virgin Metal's 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: Valerie Kimball, Investor Relations,
vkimball@virginmetals.com, (303) 703 1210; Renmark Financial Communications
Inc.: Barbara Komorowski: bkomorowski@renmarkfinancial.com; Neil Murray-Lyon:
nmurraylyon@renmarkfinancial.com; Media - Vanessa Napoli:
vnapoli@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717,  
www.renmarkfinancial.com

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VIRGIN METALS INC.

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