Emergent Metals Corporation press release

Non-Brokered Private Placement to Raise $476,795 With the MineralFields Group

2008-08-27

TSXV - TSX Venture Exchange · Gold · Silver · Copper · Molybdenum · Zinc · Graphite · Canada

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Trading Symbol: TSXV-MTB

VANCOUVER, Aug. 27 /CNW/ - The Company is pleased to announce it has agreed with the MineralFields Group ("MineralFields") to complete a private placement to raise proceeds of up to $476,795. It has been agreed the offering will be comprised of up to 3,178,633 flow-through units at a price of $0.15 per unit. The units will be comprised of one common share and one non-flow-through warrant, with each warrant being exercisable for the purchase of an additional share, at a price of $0.25 per share, for a two year period. The private placement remains subject to receipt of necessary stock exchange approvals.

Proceeds of the offering will be expended on mineral exploration on the Company's properties.

This is the fifth financing that MineralFields has entered into with the Company recently.

The Company has agreed to pay a cash commission of 5% of the proceeds raised and a warrant equal to 10% of the units sold, exercisable at a price of $0.15 per unit for a two year period.

Mountain Boy Minerals Ltd. is a Canadian-based mineral exploration company whose activities are in the Stewart and Mackenzie area of B.C. It is actively exploring for gold-silver-base metals on the Silver Coin project, silver-zinc metals on the Barbara project, silver-base metals on their American Creek properties, copper-gold in the Stewart area, porphyry molybdenum in the Stewart and Mackenzie areas and copper-nickel-platinum group metals in the Mackenzie area.

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities(R), a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.

ON BEHALF OF THE BOARD OF DIRECTORS

"Randolph Kasum"

Randolph Kasum, Director

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this release.

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