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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Bearcatbob who wrote (44065)7/6/2007 9:07:10 AM
From: Jean East  Read Replies (1) of 78424
 
Primary Metals hit with shareholder oppression lawsuit

2007-07-05 18:45 ET - News Release
Shares issued 12,940,259
PMI Close 2007-07-03 C$ 2.56

Mr. James Robertson reports

Primary Metals Inc. has been served with a petition filed in the Supreme Court of British Columbia by seven shareholders of the company alleging that they hold a total of 159,200 shares of Primary seeking, among other things, a declaration that the affairs of the company are being conducted in an oppressive manner, rescission of a May 31, 2005, agreement between the company and Almonty LLC, or an order requiring the company to repurchase the plaintiffs' shares.

The company considers the allegations made against it to be without merit. The matter has been referred to litigation counsel and a response will be filed in due course.
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