Azarga Metals arranges $1-million private placement

Mr. Gordon Tainton reports AZARGA METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT Azarga Metals Corp. has arranged a non-brokered private placement of up to 10 million units at a price of 10 cents per unit for gross proceeds of up to $1-million. Each unit consists of one common share of the company and one-half of one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at a price of 20 cents per warrant share for a period of two years from closing of the private placement. Finders' fees may be payable on the private placement, subject to the acceptance of the TSX Venture Exchange. The company intends to use the proceeds of the private placement to prepare an exploration program on the company's 100-per-cent-owned, high-grade, copper-rich VMS (volcanogenic massive sulphide) Marg project, located within the Keno Hill silver district of Yukon, and for general working capital purposes. The securities issued in connection with the private placement will be subject to a four-month-and-one-day hold period under applicable securities laws. The private placement is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the exchange. We seek Safe Harbor.