Company Information for Virgin Metals Inc

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Company Statement

Virgin Metals is a junior exploration and development company; its projects include two copper-molybdenum porphyry properties in Sonora, northern Mexico. One of these, Los Verdes, is undergoing a feasibility study and is expected to evolve rapidly towards production while the other, Cuatro Hermanos, is presently the focus of an intense exploration effort.

Current Operations

Los Verdes Property
The Los Verdes project, situated in Sinaloa, northern Mexico, is an occurrence of high grade molybdenum and copper mineralization in a porphyry setting. It occurs near the summit of a prominent ridge and presents an ideal geometry for open pit mining.

The project was initially drilled in the 1970’s by Cominco and Penoles. The land position was consolidated early in 2007; repetition and expansion of that drilling by Virgin in 2006 and 2007 has resulted in a NI 43-101 compliant resource which was recently updated showing 25 million pounds of molybdenum and over 115 million pounds copper in a compact zone of sulfides comprising 8.66 million tonnes at 0.13% Mo and 0.60% Cu.

Our plans for 2008 call for the completion of the Feasibility Study, project financing, permitting and the start of project construction before the end of the year.

Los Verdes Resource Statment

	Tonnes	% Mo	% Cu	Contained lbs Mo	Contained lbs Cu
Non-Oxide Mineralization	8,665,000	0.130	0.601	24,912,000	114,806,000
Oxide Mineralization	4,409,000	0.077	0.093	7,506,000	9,038,000
Total Measured and Indicated Resources	13,074,000	0.113	0.430	32,418,000	123,844,000
Total Inferred Resources	4,392,000	0.063	0.073	6,062,000	7,058,000

Cuatro Hermanos Property
Located in southeast Sonora, just west of the Yaqui River, the 28 sq. km Cuatro Hermanos property is centered over topographic promontory Cerro San Felipe.  The prospect lies along the western flank of the Sierra Madre near the south end of the prolific copper porphyry province of the southwestern United States and northwestern Mexico.  

The prospect has been explored intermittently by several major companies since the 1960s, notably Occidental Petroleum, Amoco, Cominco, BHP, and Phelps Dodge.  Numerous drill holes completed over a period of nearly forty years demonstrate significant copper molybdenum mineralization over an area of at least 4.5 sq. km, however, drill density is on the order of 500 to 700 meters spacing.  Our target is a resource on the order of hundreds of millions of tonnes of mineralization at modest copper grades with molybdenum credits.  Initial drilling has confirmed widespread copper and molybdenum mineralization; grades are generally seen to increase with depth with the presence of potassic alteration. Deep drilling is planned in 2008 to explore the depth potential of this huge system.

Virgin Metals controls an additional 53 sq. km of minerals rights directlyto the southwest of Cuatro Hermanos at San Lorenzo, where reconnaissance prospecting, rock chip sampling, and geologic mapping are underway.

Geographical Spread

Mexico

Board of Directors and Key Management

Chris Davie	Chairman & Director
Patrick Gorman	Director
David Winfield	Director
Bruce Higson-Smith	Director
Brian Murray	Director
Rick Moscone	Director
Mark Shonnard	Company Secretary, CFO
John Spurney	VP Exploration
Rene Mladosich	General Manager Mexico Operations

Company Address 357 Bay Street, Suite 902 Toronto, Ontario, Canada M5H 2T7 Telephone: (416) 364-9988 Facsimile: (416) 364-6624 Email: info[at]virginmetals.com Website: http://www.virginmetals.com

Annual General Meeting Tuesday, May 6, 2008, 10:00am Intercontinental Hotel 225 Front Street Toronto, Ontario (Kingsway Room)

Year End 31 December

Broker/Analyst Reports

01/08/07 - Loeb Aron & Company Ltd - Research Note

Major Shareholders

Sprott Asset Management 12.8%

Related News

08/01/08 - Virgin Metals Has Two Projects In Mexico Which Provide An Ideal Match

Most Recent Statement

02/04/08 - Virgin Metals Extends Limits of Cu-Mo Mineralization at its Cuatro Hermanos Property
28/03/08 - Virgin Metals Announces Filing of its 2007 Year End Disclosure Documents
18/03/08 - Virgin Metals Announces Closing of $1.9 Million Private Placement
14/02/08 - Cuatro Hermanos Drill Program Continues to Delineate Broad Zones of Porphyry Style Cu-Mo Mineralization
11/02/08 - Virgin Metals Adopts Shareholder Rights Plan and Provides Update on Activities
06/12/07 - Virgin Metals Announces Final Diamond Drill Results from Los Verdes