Re: News - Thursday, August 05, 2010
INV Metals Reports Q2/2010 Results and Provides Operational
Update
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TORONTO, ON -- August 5, 2010 -- INV Metals Inc. ("INV Metals" or
"Company") (TSX: INV) reports its financial results for the three and
six month periods ended June 30, 2010 and provides an operational
update (see INV's unaudited interim consolidated financial statements
and MD&A filed on SEDAR at www.sedar.com and on the Company's web site
at www.invmetals.com).

Mr. Robert Bell, President and CEO, stated, "The drill programs at the
Rio Novo property, Brazil and the Kaoko property, Namibia are on
schedule and proceeding as planned. We are pleased with the progress
of the drilling to-date and look forward to reporting the results of
the programs once the assay results are received and interpreted."

At Rio Novo, the planned diamond drill program is on-going with an
estimated 1,500 metre drill program currently in progress at the RN-5
target. A total of 1,570 meters was drilled at the RN-7 target, while
1,971 meters were drilled at RN-11, assays pending. Further mapping
and soil sampling at selected areas are also planned for the remainder
of the year. Soil sampling is underway at the Rio Novo North area,
after which an auger drill program is planned to assess the potential
of the area. The eastern boundary of the Rio Novo North claim is
located approximately two kilometres west of the well known Serra
Pelada gold and precious metals deposit.

A 30 hole, 3,993 metre reverse circulation drill program at the
Okohongo, Sesfontein and Horseshoe targets was completed in July.
Assays are pending. A 1,200 meter diamond drill program is planned at
the Manuela target within the next few months after an Induced
Polarization ("IP") survey is completed. INV Metals also expects to
complete an IP survey at the Oruvandjai target. Regional mapping and
prospecting are also expected to occur at a number of target areas for
the remainder of the year to identify and prioritize a drill program
for 2011.

As at June 30, 2010, the Company had cash resources of approximately
$10.5 million. The Company recorded a net loss of $484,636 or $0.01
per share for the three month period ended June 30, 2010 ("Q2/2010"),
compared with a net loss of $635,594 or $0.01 per share for the
corresponding period ended June 30, 2009 ("Q2/2009"). General and
administration expenses for Q2/2010 were $388,111, compared to $364,325
for Q2/2009.

About INV Metals Inc.

INV Metals is an international mineral resource company focused on the
acquisition, exploration and development of base and precious metal
projects in Brazil, Namibia and Canada. Currently, INV Metals' primary
assets are: (1) its option to acquire 50% of the Rio Novo property,
located in Brazil, (2) its option to acquire 50% of the Kaoko property,
located in Namibia, (3) its 100% owned Itaporã gold properties, located
in Brazil and (4) its option to acquire 50% of the Thorne Lake gold
property, located in northwestern Ontario. Please also refer to INV
Metals' Management's Discussion and Analysis dated May 11, 2010,
available on SEDAR at www.sedar.com and the corporate presentation on
INV Metals' website at www.invmetals.com to view additional details
relating to the properties.

Forward-Looking Statement

This press release contains certain forward-looking statements. These
forward-looking statements are subject to a variety of risks and
uncertainties beyond INV Metals' ability to control or predict which
could cause actual events or results to differ materially from those
anticipated in such forward-looking statements. In this news release
there is no guarantee that any drill targets or economic mineral
deposits will be found on INV Metals' properties. Forward looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievement
of INV Metals to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, risks
related to the actual results of current exploration activities,
conclusions of economic evaluations, uncertainty in the estimation of
mineral resources, changes in project parameters as plans continue to
be refined, future prices of metals, economic and political stability
in Canada, Namibia and Brazil, environmental risks and hazards,
increased infrastructure and/or operating costs, labour and employment
matters, and government regulation. For a more detailed discussion of
such risks and other factors, refer to INV Metals' annual information
form with Canadian securities regulators available on www.sedar.com
under the profile of International Nickel Ventures Corporation or INV
Metals' website at www.invmetals.com. Potential quantity and grade is
conceptual in nature. There has been insufficient exploration to
define a mineral resource on the Rio Novo and Kaoko Properties to-date,
and it is uncertain if further exploration will result in the target
being defined as a mineral resource.

For further information, please contact:

Candace MacGibbon
President and Chief Financial Officer
(416) 703-8416
E-mail: cmacgibbon@invmetals.com

or

Robert Bell
Chief Executive Officer
(416) 703-8416
E-mail: rbell@invmetals.com