HMZ provides Corporate update TORONTO, CANADA, January 24, 2008 HMZ Metals Inc. ("HMZ" or the "Company") HMZ provides its bi-weekly update pursuant to the Management Cease Trade Order announced April 18, 2006.

As indicated in the Company's news release dated January 18, 2008 HMZ has filed unaudited financial statements for the interim periods ended March 31, 2006, June 30, 2006 and September 30, 2006 and expects to file remaining outstanding financial statements as soon as practical. Previously announced legal and other initiatives against the Company's Chinese joint venture partners and data review and preliminary negotiations associated with new potential projects inside and outside of China continue.

For more information visit www.hmzmetals.comor call Kerry Smith at 416-214-3270 ext 222

2 Toronto Street, 5th Floor, Toronto, Ontario, Canada M5C 2B6

Tel: (416) 214-3270 Fax: (416) 214-3276

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