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August 12, 2010 Vancouver,
Canada. Next Gen Metals Inc. (CNSX:
N) ("Next Gen" or the "Company")
wishes to announce that
further to the non-brokered
private placement of up to
$500,000 announced July 19,
2010, and the closing of the
first tranche of the private
placement announced on July 30,
2010 for gross proceeds of
$435,750, the private placement
has been oversubscribed. The
private placement has been
increased from 3,333,334 units
to 5,200,000 unit ("Units"), for
total gross proceeds of
$780,000, under the same terms
and conditions as set out in the
July 19, 2010 news release. Net
proceeds will be used for the
exploration of the Company's
projects and for general working
capital. Finder's fees may be
payable.
The private placement and
finders fees are subject to
regulatory approval.
About Next Gen Metals Inc.
Next Gen Metals Inc. "Next Gen"
or the "Company" is a
diversified mineral exploration
company with a focus on gold,
silver and base metals projects
in North America. Next Gen is
developing the Silver Chalice
Property, located in Alaska and
the recently acquired Fate Gold
Project located in the Abitibi
Greenstone Belt of Northwest
Québec, one of the most famous
gold and base metals regions in
the world.
Next Gen is the newest company
to join the International Metals
Group and is listed on the CNSX
under the symbol "N". The new
Board of Directors is comprised
in part with directors from the
International Metals Group
(www.internationalmetalsgroup.com)
who, along with the new
management group, have a
combined 150 years or more of
experience in all aspects of
managing public companies
related to the resource
industry.
For further information in
regards to Next Gen Metals,
please visit our website at
www.nextgenmetalsinc.com
On behalf of the Board of
Directors
"Harry Barr"
Harry Barr
President & CEO
Next Gen Metals Inc.
Neither the TSX Venture Exchange
nor its Regulation Services
Provider (as that term is
defined in the policies of the
TSX Venture Exchange) accepts
responsibility for the adequacy
or accuracy of this release.
Note: this release contains
forward-looking statements that
involve risks and uncertainties.
These statements may differ
materially from actual future
events or results and are based
on current expectations or
beliefs. For this purpose,
statements of historical fact
may be deemed to be
forward-looking statements. In
addition, forward-looking
statements include statements in
which the Company uses words
such as "continue", "efforts",
"expect", "believe",
"anticipate", "confident",
"intend", "strategy", "plan",
"will", "estimate", "project",
"goal", "target", "prospects",
"optimistic" or similar
expressions. These statements by
their nature involve risks and
uncertainties, and actual
results may differ materially
depending on a variety of
important factors, including,
among others, the Company's
ability and continuation of
efforts to timely and completely
make available adequate current
public information, additional
or different regulatory and
legal requirements and
restrictions that may be
imposed, and other factors as
may be discussed in the
documents filed by the Company
on SEDAR (www.sedar.com),
including the most recent
reports that identify important
risk factors that could cause
actual results to differ from
those contained in the
forward-looking statements. The
Company does not undertake any
obligation to review or confirm
analysts' expectations or
estimates or to release publicly
any revisions to any
forward-looking statements to
reflect events or circumstances
after the date hereof or to
reflect the occurrence of
unanticipated events. Investors
should not place undue reliance
on forward-looking statements.
Except as required by law, the
Company undertakes no obligation
to update any forward-looking
statements.
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