THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Silvermet Inc. ("Silvermet" or the "Company") (TSX VENTURE:SYI) is pleased to
announce the release of its financial and operating results for 2010.


Highlights



--  Silvermet achieved cash flow positive operations in Q3, 2010. 
--  Silvermet signed a 51%/49% joint venture with Befesa Medio Ambiente,
    S.A. ("Befesa") of Spain, and formed Befesa Silvermet Turkey S.L.
    ("BST"). 
--  Production increased 110% to 11,548 DMT (Dry Metric Tonnes zinc
    concentrate containing 68% zinc) from 5,484 DMT in 2009. 
--  Sales volumes increased 222% to 12,581 DMT from 3,903 DMT in 2009. 
--  Revenues increased 251% to $15.9 million (at 100%) in 2010 from $4.5
    million in 2009 due to increased shipments of zinc concentrates and
    higher zinc prices 

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                                            For the year ended December 31, 
                                                         2010               
                                      2010 100%  proportional     2009 100% 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Revenue                           $  15,936,718 $  14,276,672 $   4,531,233 
----------------------------------------------------------------------------
Income (loss) from operations         2,053,425     1,721,468      (322,660)
----------------------------------------------------------------------------
EBITDA(1)                             1,274,897       903,914    (1,139,479)
----------------------------------------------------------------------------
Comprehensive income (loss)                         1,019,821      (635,067)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Basic income/(loss) per share                   $       0.008       ($0.006)
----------------------------------------------------------------------------
Diluted income/(loss) per share                 $       0.008       ($0.006)
----------------------------------------------------------------------------
Basic weighted-average number of                                            
 shares outstanding                               131,591,447   112,097,156 
----------------------------------------------------------------------------
Diluted weighted-average number of                                          
 shares outstanding                               133,206,460   112,097,156 
                                                                            
(1) EBITDA is a non-GAAP measure, does not have a standardized meaning      
 prescribed by GAAP and may not be comparable to similar terms and measures 
 presented by other issuers. EBITDA comprises net income (loss) before      
 income taxes, interest and financing expense (including accretion of       
 liabilities), amortization expense, gain on dilution, non-controlling      
 interest and stock option expense. The Company believes it is appropriate  
 to exclude stock option expense, gain on dilution and non- controlling     
 interest from EBITDA as a measure of operating performance that excludes   
 non-recurring items.                                                       



"Silvermet is now an operationally stable company with significant growth
potential through expansion of its operations in Turkey. During the past three
quarters we have been generating positive cash flow from our business. Our joint
venture company, BST, currently has $5.3 million cash available to be used for
capital improvements to the existing facility and to further progress with a new
kiln," said Stephen G. Roman, Silvermet's Chairman, President and CEO. "For 2011
we will focus on continued improvements and building additional capacity".


About Silvermet:

Silvermet's principal business activity is the recycling of electric arc furnace
dust ("EAFD") obtained from steel companies through a Waelz kiln to recover zinc
concentrates that are then sold to zinc smelters throughout the world. The
Company's Waelz kiln facility is located in Iskenderun, Turkey and has been
operational since May 2009.


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.
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