$DMNKF Signs LOI Valued up to $4.5 Million Toronto, Ontario--(Newsfile Corp. - December 16, 2016) - DNI Metals Inc. (CSE: DNI) (FSE: DG7N) (OTC Pink: DMNKF) ("DNI" or the "Company"). DNI completes a Letter Of Intent "LOI", with Cougar Metals to develop DNI's Vohitsara, Madagascar Graphite Project. Cougar owns 8 drill rigs, and has competence to complete a 3,000m drilling program, a 1,000m trenching program, a NI 43-101 resource study, and a NI 43-101 PEA for DNI's Vohitsara Project. As per the LOI, this work should be completed by June 30, 2017. Summary of the $4.5 million potential. 1.Cougar pays DNI Cash payments of A$300,000 2.Cougar pays Cash payment of U$150,000 (approx. C$196,000) to previous owner of the Vohitsara project (last payment owed by DNI) 3.When Cougar completes the drilling/resource/PEA, (by June 30, 2017), Cougar will earn 49% of the Vohitsara project. DNI's board had set a budget of C$1.5 million to complete the drilling/resource/PEA. 4.If DNI opts out of its first right, Cougar can purchase DNI's remaining 51% for AUD$2.5 million. The specific terms of the deal are below. http://www.newsfilecorp.com/release/24136/DNI-Metals-Inc.-Signs-LOI-Valued-up-to-4.5-Million #graphite