Silvermet Strengthens Board & Management Team

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

SILVERMET STRENGTHENS BOARD & MANAGEMENT TEAM

TORONTO, July 26, 2010: Silvermet Inc. (“Silvermet” or the “Company” TSXV: SYI) is pleased to announce a number of personnel changes as it continues to enhance its Board, management and technical team for its zinc operation in Iskenderun, Turkey.

The Board of Directors have appointed Terence Ortslan, P.Eng., MBA and Richard Faucher, P.Eng., as new Directors of the Company.

Mr. Ortslan is the Managing Director of TSO & Associates, a firm focusing on independent mining, metals and fertilizer research. Mr. Ortslan obtained his degree in engineering in Mining and Applied Geophysics as well as an MBA from McGill University. His most recent business association at the corporate level in the investment industry has been with BBN James Capel Inc. until 1995 and previously with other national and international investment dealers. Over the years, Mr. Ortslan has interacted with most senior managements and directors of mining firms and has been highly ranked for his independent research and analysis by unsolicited investment industry sources. He has also kept faculty appointments at McGill, lecturing on mining and international business. Mr. Ortslan has been an active member of MRAG (Minerals Industry Analyst Group) since 1975 and part of its Executive Committee. He chaired the submissions of MRAG to the Mineral Industry Task Force and has been in dialogue with various bodies about the quality and direction of industry and mining research. MRAG plays an active role in mining research and industry recognition and all senior analysts in Canada are members. Mr. Ortslan spent a number of years living and attending school in Turkey, and is fluent in the Turkish language. He has maintained his business connections in Turkey and is prepared to take an active role in developing Silvermet’s long term growth strategy.

Richard Faucher is a metallurgical engineer and presently provides advisory services to various companies. He was President and Chief Executive Officer of Canadian Royalties Inc. until August 2008. Mr. Faucher has held senior management positions in several mining companies, including President of Niocan Inc., Vice-President of Brunswick Mining & Smelting, President & General Manager for Falconbridge Dominicana, and President & COO of Princeton Mining Corp. Mr. Faucher brings excellent operational skills to the Silvermet team including experience operating furnaces for the recovery of metals.

Jeffrey Dawley has resigned as CFO of the Company as he has recently become a father and has found an alternative situation that does not require travel. He is being replaced by Ian Atacan. Ian is a CMA (Canada), MBA (London, UK) and Electrical Engineer (Turkey). Ian is of Turkish descent and began his career working for Proctor & Gamble in Istanbul until 1994. He then joined DHL in Brussels until 1998, when he moved to Canada. He has since held controllership roles in various public companies, including Epsilon Energy, Impax Energy Services and Consumers’ Waterheater Income Fund. Ian brings outstanding financial skills to Silvermet and with his fluency in the Turkish language will be directly in charge of implementing financial controls and reporting functions at the Turkish operations.

Arda Yorenc has joined Silvermet as Financial Controller at the Iskenderun plant. Mr. Yorenc is a CPA with substantial experience working with international companies in Turkey. Prior to joining Silvermet, he held positions as plant controller for British American Tobacco and Finance Manager for Beckman Coulter Biomedical, as well as various accounting positions with Stoeger Sila San (Beretta), Renault Trucks, CPG Ericsson, Abbott International and Best Foods International.

Andrew Rickaby and George Whyte have resigned as Directors of Silvermet. “We are very appreciative of the time and commitment these gentlemen devoted to making Silvermet a successful company. We are pleased and excited about our new Directors and operating team members who have significant Turkish experience. We believe the depth of our management team is increasing and will help us achieve our growth targets” stated Stephen G. Roman, Silvermet’s Chairman and CEO.

Additionally, Silvermet wishes to announce the issuance of 13.2% convertible debentures in the amount of $500,000, the proceeds of which are being used for general working capital in its Turkish operations. The debentures are repayable on June 30, 2011 and are convertible at $0.10 per common share. In connection with the debentures, 5 million warrants, exercisable at $0.10 per share until June 30, 2011, were also issued. An insider of the Company participated in $250,000 of the debentures.

About Silvermet:

Silvermet is a producer of zinc concentrate from its Waelz Kiln Plant located in Iskenderun, Turkey. Silvermet produces the zinc concentrate through the reprocessing of Electric Arc Furnace Dust (EAFD) that is produced by local steel mills. Silvermet’s product is sold to smelters around the world.

For further information, please contact:

Stephen G. Roman, Chairman & CEO Silvermet Inc.

Tel: (416) 203-8336 Website: www.silvermet.ca

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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.