01:38 PM EST - First Energy Metals Ltd. : Has terminated its option agreement on the Russel Graphite property located in Gatineau area of Quebec and will be returning the property back to the vendor. Management decision to discontinue the option was based on its desire to focus its efforts on 100% optioned Phyllis Cobalt property in Ontario and with that being said, will continue to work towards furthering its exploration efforts on the Phyllis property. In addition, the Company will not continue to pursue its letter of intent originally signed on September 23 to acquire Muzhu Mining Ltd. First Energy Metals Ltd.
shares FE:CSE are trading unchanged at $0.08.
