3D Seismic Survey To Begin On Bouhajla Permit In Tunisia

January 5, 2011

Number: 01-12

3D SEISMIC SURVERY TO BEGIN ON BOUHAJLA PERMIT IN TUNISIA

VANCOUVER, British Columbia (January 5, 2012) - Knight Metals Ltd. (TSXV: KNP) ("Knight Metals" or the "Company") reports that DualEx Tunisia Inc. ("DualEx") has entered into a contract with CGGVeritas Services SA, one of the world's largest geophysical service providers, to shoot a 55 square kilometres 3D seismic survey over the Bouhajla North Prospect on the Bouhajla Permit, onshore Tunisia. Surveying and permitting is scheduled to begin in January 2012, with field recording anticipated to be completed around the end of February 2012.

On December 2, 2011, Knight Metals completed the transaction to acquire Watutatu Inc. ("Watutatu"), a private Ontario company with certain oil and gas assets in Tunisia, North Africa. Knight Metals, through Watutatu, has a right to earn 47.5% of DualEx's share in the Bouhajla Production Sharing Contract by spending US$7,250,000 on the Bouhajla Permit, encompassing 416 square kilometres, located onshore in the Pelagian Basin of east-central Tunisia.

ON BEHALF OF THE BOARD OF

KNIGHT METALS LTD. "Harvey Keats"

Chief Executive Officer

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