Nierenberg Investment Management Co., Inc. acquires common shares in Metallic Ventures Gold Inc.

    TORONTO, Jan. 23 /CNW/ - Nierenberg Investment Management Co., Inc. (the
"Offeror"), on behalf of The D3 Family Funds, is pleased to announce that it
has acquired 120,000 common shares (the "Shares") of Metallic Ventures Gold
Inc.("Metallic"), a mining company based in Reno, Nevada.
    As a result of the acquisition of the Shares, the Offeror, together with
the investment vehicles constituting The D3 Family Funds, has ownership and
control of 9,447,861 common shares of Metallic, representing approximately
18.2% of the issued and outstanding of common shares of Metallic, and warrants
to purchase 371,700 common shares of Metallic at a price of $10.00 per share.
On a partially-diluted basis, these holdings represent approximately 18.8% of
the common shares of Metallic.
    The Shares were acquired through the facilities of the Toronto Stock
Exchange in the ordinary course of business for investment purposes only. The
Offeror may from time to time acquire additional securities, dispose of some
or all of the existing securities or may continue to hold securities. Metallic
is listed on the Toronto Stock Exchange under the symbol "MVG".

For further information:

For further information: The Offeror is located at 19605 NE 8th Street,
Camas, Washington, 98607. For further information please contact Henry E.
Hooper at (360) 604-8600

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