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Exploration, discovery and development of precious and base metals mineral deposits in Australia and Canada (V.MMW)

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Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Have a great Sunday, especially those of you like me that are celebrating Orthodox Easter ... As well as those of you who are also like me and mourning another Maple Leafs Game 7 exit ... Ugggh!

Sincerely,

George et al

Message: Magma Metals to spn oout its West Australian gold projects
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Perth, Western Australia – Magma Metals Limited (ASX & TSX: “MMW”) (“Magma” or

the “Company”)

is pleased to advise that it intends to spin-out its West Australian gold

projects in a new gold focused exploration company, to be named Greenstone Metals

Limited (“Greenstone”), subject to completion of commercial and legal agreements and

relevant approvals.

The decision by Magma to transfer its Lake Grace, Griffins Find, Laura River, Roe and Mt

Jewell projects to Greenstone will allow the Company to focus all its resources on

progressing the Thunder Bay North platinum-palladium-copper-nickel project in Ontario

towards development.

Key points on the proposed IPO include:

The Greenstone IPO will be launched in the first half of 2012, subject to market

conditions;

Capital raised in the IPO will fund the advancement of these prospective West

Australian gold projects;

Greenstone will seek admission to the ASX;

Magma will retain a significant equity ownership in Greenstone and its shareholders

will therefore be exposed to Greenstone’s exploration success; and,

Eligible Magma shareholders will be offered a priority entitlement in the IPO.

Please direct enquiries or requests for further information to:

Keith Watkins Greg Taylor

Managing Director & CEO Investor Relations

Magma Metals Limited Magma Metals Limited

Tel: +61 (0)8 9287 7300 (Perth) Tel: +1-905-337-7673 (Toronto)

Mob: +1-416-605-5120

E:

[email protected] E:

[email protected]

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