Phoenix Metals Corporation announced that it has entered into a Formal Option Agreement that which the company has been granted an option to acquire a cumulative 60% interest in and to the licenses of the Salamaua Chromite-Olivine Project in the Morobe Province of Papua New Guinea (the "Property"). Phoenix has the exclusive option to acquire a 60% interest in the Property by making cash payments of USD 625,000 and spending USD 2.0 million developing the project over 36 months. An initial cash payment of USD 50,000 is due on or before May 15th, 2014. Upon exercise of the option the parties will form a Joint Venture reflecting their initial 60/40 interests.

The company announced the appointment of Michael Dehn as President of the company. Mr. Dehn has over 20 years of experience in the mining industry. His expertise ranges from grassroots to advanced mineral exploration and development, with extensive experience in the marketing and financing of junior resource companies, as well as new exploration and mineral processing technologies. Upon obtaining a Bachelor of Science degree from the University of Waterloo in 1993, Mr. Dehn began his career in the sector working as an exploration geologist with Goldcorp Inc. where he later became the Senior Geologist. He is a past President, CEO and Director of Argex Mining. Mr. Dehn has been an officer and a director of multiple publicly traded mining companies.