Silvermet Announces Management Change

8 King Street East, Suite 1700 Toronto, Ontario, Canada M5C 1B5 Telephone: (416) 203-8336 Facsimile: (416) 368-5146

SILVERMET ANNOUNCES MANAGEMENT CHANGE

TORONTO, January 21, 2010: Silvermet Inc. (“Silvermet” or the “Company”) (TSXV: SYI) announced today that a number of management changes are in the works at Silvermet, as the company moves forward in developing its EAFD zinc processing operations in Turkey.

Effective immediately, Mr. Rein Lehari will step down as President & COO, but will remain as a director of the Company. Mr. Lehari joined Silvermet as Chief Financial Officer and took on the roll of President to complete the acquisition and commissioning of the zinc plant in Iskenderun. The Company plans to now add to its engineering and operating team to complete modernization of the current plant, and develop future expansion plans.

“The Board of Silvermet sincerely thanks Mr. Lehari for his outstanding efforts in negotiating the acquisition of the Iskenderun zinc plant and getting it successfully commissioned,” said Stephen G. Roman, Silvermet’s CEO. “As Silvermet has now become a producing zinc company, we are putting experienced operating personnel in key positions as we build our business."

About Silvermet:

Silvermet’s Waelz kiln operations in Iskenderun, Turkey have been operating since mid-May to recover zinc contained in the Electric Arc Furnace Dust (“EAFD”) that is produced as a waste product by local steel mills.

For further information, please contact:

Silvermet Inc.

Stephen G. Roman, Chairman & CEO (416) 203-8336 Website: www.silvermet.ca

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The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release.

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.