Silvermet Inc. announced that Mr. Jeff Dawley, CA, CPA (Illinois), has accepted the role of Chief Financial Officer for the company. Mr. Dawley is a Chartered Accountant with over 16 years experience in corporate financial management, governance and reporting in Canada. Mr. Dawley has most recently served as the Chief Financial Officer, Vice President of Finance and Technology, and Corporate Secretary of NexgenRx Inc.

Silvermet Inc. announced that it has signed a deal with Korea Zinc Co. for a $3 million private placement and a commitment to finance an expansion of Silvermet's zinc operations in Turkey. Silvermet, with help from Korea Zinc, will focus on producing zinc, lead, and other by-products from the recently acquired assets of Metox AS in Turkey.

Silvermet Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net loss and comprehensive loss of $1,105,101 or $0.01 per share on net revenue of $456,330 against net loss and comprehensive loss of $271,106 for the same period a year ago. Loss from operations was $322,968. Operating loss before income tax was $1,105,101 compared to $271,106 for the same period a year ago. Net cash used in operating activities was $1,513,706 compared to $649,197 for the same period a year ago. Acquisition of equipment was $137,097 compared to $772 for the same period a year ago. For the six months, the company reported net loss and comprehensive loss of $1,601,489 or $0.02 per share on net revenue of $456,330 against net income and comprehensive income of $358,888 for the same period a year ago. Loss from operations was $322,968. Operating loss before income tax was $1,601,489 compared to $543,867 for the same period a year ago. Net cash used in operating activities was $2,789,935 compared to $1,993,245 for the same period a year ago. Acquisition of equipment was $175,444 compared to $2,475 for the same period a year ago.