Raytec Closes Non Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA, Jul 10 (MARKET WIRE) --
Raytec Metals Corp. (the "Company" or "Raytec") (TSX VENTURE: RAY).
Raytec is pleased to report that it has closed its non brokered private
placement (the "Private Placement") of 10,900,000 units at $0.30 per unit
(each a "Unit") for total gross proceeds of $3,270,000. Each Unit
consists of one common share (a "Common Share") and one non transferable
share purchase warrant (each a "Warrant"). Each Warrant is exercisable
into one additional Common Share of the Company at a price of $0.50 per
Common Share for a period of two years, until June 29, 2011. In
accordance with the request of the TSX Venture Exchange (the "Exchange")
the proceeds of the Private Placement will be held in escrow pending the
receipt by Raytec of the Exchange's acceptance to Raytec's recently
announced farm-in transaction with Africa Oil Corp. The Company expects
to file a submission to seek such acceptance shortly.

The Company will pay a cash finder's fee of $163,500, equal to 5% of the
total proceeds raised under the Private Placement to Peninsula Merchant
Syndications Corp. (the "Finder") upon the release from escrow of the
Private Placement proceeds. In addition, the Company has issued 545,000
finder's warrants (the "Finder's Warrants"), equal to 5% of the Private
Placement, to the Finder. Each Finder's Warrant is exercisable into one
additional Common Share of the Company at a price of $0.50 per Common
Share for a period of two years, until June 29, 2011.

All securities issued under this Private Placement are subject to a four
month hold period expiring on October 30, 2009.

The proceeds of the Private Placement will be used to fund the
advancement of the Company's interest in the licenses held by Africa Oil
Corp. in Puntland, Somalia and the Republic of Kenya and for general
working capital.

About Raytec:

Raytec Metals Corp. is a well-financed, Canadian exploration company with
a recently signed Farm-In letter of intent with Africa Oil Corp. and a
recently signed letter of intent with Angus Ventures Corp. and Encanto
Potash Corp. Raytec currently holds over 180,000 acres of potash permits
in Saskatchewan, Canada - the largest producing region for potash in the
world. The Company holds approximately a 20 per cent interest in Sulphur
Solutions Inc., an emerging fertilizer company developing
state-of-the-art patented technology for the production of micronized
sulphur fertilizer. The Company is further diversified with an iron ore
project in Ontario, and a uranium joint venture project in the Athabasca
Basin of Saskatchewan.

To find out more about Raytec Metals Corp., please visit the company
website at www.raytecmetals.com or review the documents filed on
www.sedar.com.

On behalf of the Board,

RAYTEC METALS CORP.

Brian Thurston, President and CEO

This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, that address exploration drilling,
exploration activities and events or developments that the Company
expects to occur, are forward-looking statements. Forward-looking
statements in this news release include statements regarding the Offering
(including the anticipated closing date) and future exploration plans and
expenditures. Although, the Company believes the expectations expressed
in such forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results or developments may differ materially from those forward-looking
statements. Factors that could cause actual results to differ materially
from those in forward-looking statements include market prices,
exploration and exploration successes, and continued availability of
capital and financing and general economic, market or business
conditions. These statements are based on a number of assumptions,
including among others, assumptions regarding general business and
economic conditions, the timing and receipt of regulatory and
governmental approvals for the transactions described herein, the ability
of the Company and other parties to satisfy stock exchange and other
regulatory requirements in a timely manner, the availability of financing
for the Company's proposed transactions and programs on reasonable terms,
and the ability of third-party service providers to deliver services in a
timely manner. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments may
differ materially from those projected on the forward-looking statements.
The Company does not assume any obligation to update or revise its
forward-looking statements, whether as a result of new information,
future events or otherwise.

Neither the TSX Venture Exchange nor its
regulation services provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.

Contacts:
Raytec Metals Corp.
Brian Thurston
President and CEO
604 688 6410
604 688 6402 (FAX)
www.raytecmetals.com

Copyright 2009, Market Wire, All rights reserved.

-0-