SOURCE: General Metals Corporation

February 02, 2010 07:38 ET

General Metals Completes 2009 - 2010 Drilling Program

Builds Management Team to Transition Company to Production

RENO, NV--(Marketwire - February 2, 2010) - General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT: GMQ1), is pleased to announce the successful completion of the Company's 2009 - 2010 drilling program of 12,895 feet in 44 drill holes. This drilling program was designed to augment our drilling and add drill density to the Hill Zone area to confirm continuity of grade and increase the volume of mineral resources included in the Measured and Indicated Categories. Results of the program will be released as pending final assays are received, reviewed and interpreted.

The Company also wishes to announce that, in keeping with its historic and ongoing efforts to maximize shareholder value, it has been reviewing highly qualified candidates to transition the Company from its current status as a junior explorer to an effective and profitable producing company. To facilitate this transition, Steve Parent has joined the Company's Advisory Board and stepped down from the Board of Directors and as President and CEO. The Board of Directors has appointed Robert Carrington to the Board of Directors and as interim President to assist in the transition. Carrington has long been associated with the Independence Property and was instrumental in the Company's acquisition of the property. He has more than 30 years experience in exploration and mining, is a Registered Professional Geologist and a Registered Professional Engineering Geologist, and has served as an executive officer and on boards of numerous public company's both in the US and Canada.

The Company thanks Steve Parent for his leadership, tenacity, foresight and continued support, providing valuable continuity to future management as the Company transitions into a producer.

Signed
"Robert G. Carrington"
President

Further details regarding the Independence mineralization, drilling efforts, both historical and current together with current permitting activity are available on the Company's website www.gnmtlive.com

About General Metals Corporation: General Metals Corporation is an aggressive junior minerals exploration and development company, based in Reno, Nevada. The Company is actively exploring and developing its 100% controlled Independence property strategically located in the prolific and highly prospective Battle Mountain Mining District of Nevada where the Company recently announced resources containing in excess of one million ounces of gold and 3.8 million ounces of silver. Permitting and Engineering for our proposed heap leach production is underway at the Independence Mine.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that the proceeds from the recent private placement will allow the Company to proceed with permitting at its Independence Mine in Nevada or any shallow mining production later this year, that any estimated ounces of gold or silver are contained in the mineralized material in the "Shallow Target," and is proposed to be mined and loaded onto a cyanide heap leach pad, or any future financings that the Company may enter into.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Wayne Meyerson
    Investor Relations
    General Metals Corporation
    615 Sierra Rose Dr. Suite 1
    Reno, NV 89511
    wayne@gnmtlive.com
    775.583.4636 office
    775.830.6429 cell