Zonte Metals Inc. - Update on private placement of securities

BEDFORD, NS, Nov. 15, 2011 /CNW/ - Zonte Metals Inc. (TSXV: ZON) (the "Corporation") is pleased to announce that further to its press release issued on November 8, 2011, the Corporation today issued an additional 40,000 flow-through shares (at a subscription price of $0.30 per share) in its non-brokered private placement first announced on October 3, 2011.

With the Corporation's issuance today, the total securities issued pursuant to the private placement comes to 796,733 flow-through common shares (the "FT Shares") at a price of $0.30 per FT Share, 1,909,000 units (the "Units") at a price of $0.25 per Unit, and 571,040 Units at a price of $0.25125 per Unit, for total gross proceeds of $859,744 (the "Offering"). The securities issued pursuant to the Offering are subject to a four-month and one day statutory hold.

About Zonte Metals Inc.

Zonte Metals Inc. is a junior explorer focused on gold. Our model is to find projects with large scale potential and to that end the Corporation is actively reviewing and completing field due diligence on projects in the USA, Africa and South America.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.

SOURCE ZONTE METALS INC.

For further information:

Terry Christopher
CEO and President
408 - 1550 Bedford Highway,
Bedford, NS, B4A 1E6
Tel: (902) 405-3520
info@zontemetals.com
www.zontemetals.com

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ZONTE METALS INC.

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