Virgin Metals Inc. announced that subject to TSX Venture Exchange approval, it is increasing its non-brokered private placement to $1.5 million from $1 million. Efforts to complete this private placement remain ongoing. The net proceeds of the private placement will be used to further advance the pre-feasibility report on the company's Los Verdes property, as well as for working capital and general administrative purposes.

Virgin Metals Inc. is increasing its non-brokered private placement from CAD 750,000 to CAD 1 million. Net proceeds will be used to further advance the pre-feasibility report on the Los Verdes copper-molybdenum porphyry property in Sonora state, Mexico, as well as for working capital and general administrative purposes.

Virgin Metals Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported loss before the undernoted items interest, loss on held for trading investments and foreign exchange gain of CAD 329,755 against CAD 277,040 a year ago. Net loss and comprehensive loss for the period was CAD 352,721 or CAD 0.00 against CAD 278,134 or CAD 0.01 basic and diluted per share a year ago. For the nine months, the company reported loss before the undernoted items interest, loss on held for trading investments and foreign exchange gain of CAD 888,138 against CAD 806,167 a year ago. Net loss and comprehensive loss for the period was CAD 983,910 or CAD 0.02 against CAD 814,942 or CAD 0.02 basic and diluted per share a year ago. Net cash flows used in operating activities were CAD 1,973,316 against CAD 949,897 a year ago. Purchase of mineral property was CAD 1,630,773.