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CALGARY, ALBERTA--(Marketwire - June 7, 2010) - Philippine Metals Inc. (the "Corporation") (TSX VENTURE:PHI)(FRANKFURT:PM7) is pleased to announce that the company has completed an initial ground geophysics program focused on the Taurus Project on Leyte Island in the Philippines as previously announced on April 28^th, 2010.

The results from the surveys have been received and indicate several areas of anomalous chargeability and resistivity interpreted to potentially be geophysical responses to areas of subsurface mineralization. The results have been submitted for geophysical modeling for further evaluation. The initial data is posted on the company's website and the modeling of the data is expected shortly.

The ground geophysical program focused on two local areas of the Taurus Project: i) Kambalantong-Malayahay mineralized corridor and ii) the Palo-Curajo historic mines area.

1. At the Kambalantong-Malayahay mineralized corridor a total of 11.2 line-km of survey were accomplished in 16 separate lines of 700 meters per line:
1. 2 lines of ground base moving loop time domain electromagnetic survey for calibration
   lines of IP dipole dipole survey
2. 16 lines of ground magnetic survey
2. At the Palo-Curajo mines area a total of 1.8 line-km of geophysical surveys were conducted in 3 lines of 600 meters length each:
1. 3 lines of IP dipole dipole survey
2. 3 lines of ground magnetic survey

The Kambalantong-Malayahay corridor is located in the central portion of the Taurus project. It contains zones of sulphide mineralization that extend over a width of 500 m and a strike length of about 1,500 m. Within the corridor various historic production and exploration workings have encountered and locally exploited massive chalcopyrite plus chalcocite plus pyrite and/or bornite sulphide mineralization. The mineralization occurs as gently dipping veins, lenses and breccias.

The Palo-Curajo historic mining area is located on the southern portion of the Taurus project. Numerous historic small open cast mining operations populate the local area supplemented by underground tunnels. Subvertical massive sulphide bodies occur within the area dominated by pyrite plus chalcopyrite plus sphalerite.

This current ground geophysical program is the initial part of a much larger airborne geophysical survey planned to cover the entire Taurus project area. The later program will also include 2,000 m of diamond drilling for the initial testing of the anticipated geophysical targets generated. In all $427,000 is budgeted for the Phase 1 exploration of the Taurus project.

About the Taurus Project

The Taurus project, located on Leyte Island, consolidates the entire ophiolite related copper mining belt with two contiguous exploration tenure blocks. The blocks cover an area of approximately 9,895 contiguous hectares. Spatially within the blocks, the mines and massive sulphide-sulphide breccia mineral occurrences align in two trends that each trace distances of approximately 17 kilometers.

The eastern edge of Leyte Island is comprised of mafic to ultra mafic ophiolite complex representing a tectonically obducted slice of the ocean floor related to the subduction processes associated with the island arc archipelago which is the Philippines. The rocks comprise a belt that host numerous historic copper mines and occurrences. The mineralization is interpreted to be of the Cyprus type volcanogenic massive sulphides type.

The current geophysical surveys referred to herein were performed by Elliot Geophysics International Pty. Ltd. of Melbourne, Australia. The surveys were conducted using JORC and NI 43 101 compliant standards of QA and QC procedures for data verifications.

For more detail of the geological observations and budget references above please refer to the NI 43 101 compliant report "Technical Report and Proposed Exploration Program for the Leyte Copper Project" which is available on the company's website.

William Dynes, P Geol, is the qualified person, as defined in NI 43-101, who has reviewed and verified the scientific and technical disclosures contained in this press release.

About Philippine Metals Inc.
Philippine Metals Inc. is focused on the exploration, discovery and development of high-prospective copper and copper-gold deposits in the Philippines. Based on the region's geological environment, the company's management team recognizes the country's potential for hosting large world-class deposits of copper and copper-gold.

The company's initial projects, Taurus, Malitao and Dilong, are excellent examples of management's ability to source quality, highly prospective targets. The management team combines strong financial capabilities with world-class experience in mineral exploration, discovery and mine development.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.