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News Releases - Friday, August 24, 2007
Primary Metals Announces that Sojitz Corporation Mails Offer to
Shareholders
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Primary Metals Inc. (TSXV: PMI) ("Primary") announced today that Sojitz
Corporation ("Sojitz") has filed with Canadian securities regulators
its formal offer (the "Offer") to acquire, through its wholly-owned
subsidiary, Sojitz Tungsten Resources, Inc., all of the outstanding
shares of Primary (the "Shares") and has commenced the mailing of the
Offer and related documents to Primary shareholders. Primary has
concurrently filed and commenced mailing of a directors' circular
concerning the Offer.

The Board of Directors of Primary has unanimously approved the proposed
transaction and recommends that shareholders tender their Shares to the
Offer. Capital West Partners, Primary's financial adviser, has
provided an opinion to Primary's Board of Directors that the
transaction contemplated by the Offer is fair, from a financial point
of view, to Primary's shareholders. A copy of the fairness opinion is
attached to the directors' circular.

Primary shareholders wishing to accept the Offer are encouraged to
tender their Shares by completing the letter of acceptance and
transmittal accompanying the documents mailed to them and returning it,
together with certificates representing their Shares and all other
documents, to the offices of Computershare Investor Services Inc. in
accordance with the instructions in the letter of acceptance and
transmittal. If Shares are held by a broker or other financial
intermediary, Primary shareholders should contact such intermediary and
instruct it to tender their Shares.

Questions About the Primary Offer
For further information about the Offer, Primary shareholders should
contact Georgeson at 1 888 605 7632 (Toll free, North America) as
directed in the Offer documents.

About Primary Metals
Primary owns a 100 percent interest in the Panasqueira tungsten mine in
Portugal, which is currently producing wolframite concentrates
containing some 100,000 MTUs of tungsten trioxide per annum, with
further improvements underway. The Panasqueira mine has a long history
of production of high-quality wolframite concentrates and is the
dominant producer of high-grade tungsten concentrates outside China.
Further information is available under Primary's profile at
www.sedar.com and on Primary's website at www.primarymetals.ca.

About Sojitz Corporation
Sojitz, one of Japan's leading trading companies, is listed on the
Tokyo Stock Exchange with revenues of C$42 billion, net assets of C$4.2
billion and a market capitalization of C$5.3 billion. Sojitz conducts
its operations in 50 countries through approximately 500 consolidated
subsidiaries and affiliated companies with over 19,000 employees
worldwide. Its business activities cover machinery and aerospace,
energy and mineral resources, chemicals and plastics, real estate
development, forest products and consumer lifestyle-related businesses.
Further information is available on Sojitz's website at
www.sojitz.com.

On Behalf of the Board of Directors,

"James Robertson"
______________________
James Robertson, P. Eng.
Director

For further information contact:

Vancouver Office:
James Robertson
Phone: 604.669.8988
Email: info@primarymetals.ca
Website: www.primarymetals.ca

Investor Relations:
Jamie Mathers, Ascenta Capital Partners Inc.
Phone: 604.628.5800 extension 236
Toll free: 1.866.684.4209
Email: jamie@ascentacapital.com

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this release.

Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the Ontario
Securities Act or "forward-looking statements" within the meaning of
Section 21E of the Securities Exchange Act of 1934 of the United
States. Forward-looking statements are subject to a variety of risks
and uncertainties which could cause actual events or results to differ
from those reflected in the forward-looking statements, including,
without limitation the company's expectations as to the results of
planned work programs, potential mineralization, resources, reserves,
mine production levels and future tungsten prices. Such statements are
based on certain assumptions, including continued demand for tungsten,
availability of capital, equipment and personnel to carry out and
complete the planned work programs and accuracy within a reasonable
range of reported exploration and development results, and involve
various risks and uncertainties, including global economic factors,
future commodity prices, lack of availability of equipment or
personnel, and results of exploration and development. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Other important factors that could
cause actual results to differ materially from the Company's
expectations are disclosed under the heading "Risk Factors" and
elsewhere in the Company's documents filed from time-to-time with
regulatory authorities and on www.sedar.com.

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Copyright (c) 2007 PRIMARY METALS INC. (PMI) All rights reserved. For
more information visit our website at http://www.primarymetalsinc.ca/
or send mailto:info@primarymetalsinc.ca
Message sent on Fri Aug 24, 2007 at 12:13:51 PM Pacific Time
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