TMXgroup

March 9, 2010

Peregrine Metals Ltd. (the "Company") - An application has been granted for the original listing in the Mining category of 164,184,600 common shares of the Company, of which 117,480,539 common shares will be issued and outstanding, and 46,704,061 common shares will be reserved for issuance upon completion of an initial public offering (the "Offering").

An application has also been granted for the listing of 11,500,000 common share purchase warrants (the "Warrants"), of which 10,000,000 Warrants will be issued and outstanding, and 1,500,000 will be reserved for issuance. Each Warrant entitles the holder to purchase one common share at a price of $2.00 per share at any time prior to 4:30 p.m. (Toronto Time) on the date that is 18 months following the closing date of the Offering.

Listing of the common shares and Warrants will become effective at 5:01 p.m. on Wednesday, March 10, 2010 in anticipation of the Offering closing on Thursday, March 11, 2010. The common shares and Warrants will be posted for trading at the opening on Thursday, March 11, 2010.

The Company is subject to the reporting requirements of Section 501 of the Toronto Stock Exchange Company Manual.

Capitalized terms not otherwise defined are as defined in the Company's prospectus dated March 3, 2010 (the "Prospectus").

Common Shares:
Stock Symbol: "PGM"
CUSIP: 71390A 10 6
Trading Currency: CDN

Warrants:
Stock Symbol: "PGM.WT"
CUSIP: 71390A 13 0
Trading Currency: CDN

Temporary Market Maker: W.D. Latimer Co. Limited

Other Markets: none

Head Office Address: 201 - 1250 Homer Street
Vancouver, B.C.
V6B 1C6

Email Address: info@peregrinemetals.com

Website: www.peregrinemetals.com

Head Office Telephone Number: (604) 669-8800

Fax Number: (604) 408-8881

Investor Relations: Michael Westerlund
Tel: (604) 669-8800
Email: mike@peregrinemetals.com

Chief Financial Officer: Gregory Shenton

Corporate Secretary: Beverley Downing

Incorporation: The Company was incorporated under the Canada Business Corporations Act on September 20, 2005.

Fiscal Year End: December 31

Nature of Business: The Company is engaged in the acquisition, exploration and development of precious and base metal mineral properties in South America. The principal focus of the Company is the development of the Altar Project in San Juan Province, Argentina.

Transfer Agent & Registrar: Computershare Investor Services Inc. at its principal offices in Vancouver and Toronto.

Dividends: The Company has not declared or paid any dividends since incorporation and does not intend to pay dividends in the foreseeable future.

Public Offering: Pursuant to the terms of the Prospectus, 20,000,000 units (the "Units") are being offered to the public by GMP Securities L.P., Dundee Securities Corporation and Canaccord Financial Ltd., as agents, at a price of $1.00 per Unit. Each Unit will consist of one common share, and one-half of one Warrant. The Units will separate immediately upon closing of the Offering.

Warrants: Each whole Warrant will entitle the holder to purchase one common share of the Company at a price of $2.00 per share at any time before 4:30 p.m. (Toronto time) on the date that is 18 months following the closing date of the Offering. The Warrants will be governed by the terms of a warrant indenture to be dated March 11, 2010 between the Company and Computershare Trust Company of Canada. The warrant indenture provides for appropriate adjustments to the Warrants in the event of stock dividends, subdivisions, consolidations and other terms of the capital reorganization.