Donner Metals Ltd.: $2,409,930 Financing Closed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2010) - Mr. David Patterson, Chairman of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), reports that the Company has closed a non-brokered private placement totaling $2,409,930. The funds were raised by the Company by issuing a total of 8,033,100 non-flow through units ("NFT Unit") at a price of $0.30 per NFT Unit.

Each NFT Unit consists of one common share and one share purchase warrant exercisable into one common share at a price of $0.45 per share until February 2, 2011.

The Company has undertaken to pay commissions and finder fees of $147,695.10 and issue 492,317 Finder's Warrants where each Finder's Warrant is exercisable into a Finder's Unit. Each Finder's Unit consists of one common share of the Company and one warrant (the "Unit Warrant"). Each Unit Warrant is exercisable for 12 months from the closing date of the Offering at a price of $0.55 per common share, in connection with the private placement.

In addition, the Company has granted 9,169,950 incentive stock options to certain of its directors, officers, employees, and consultants exercisable at a price of $0.28 per share for a period of one year.

ON BEHALF OF THE BOARD OF DONNER METALS LTD.

David Patterson, Chairman

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