SOURCE: General Metals Corporation

October 04, 2007 09:06 ET

General Metals Completes First Five Drill Holes at the Independence Mine in Battle Mountain, Nevada With Assay Results to Follow

RENO, NV--(Marketwire - October 4, 2007) - General Metals Corporation (OTCBB: GNMT) (FRANKFURT: GMQ) (the "Company") is pleased to announce that the first five drill holes at the Independence mine have been completed and samples are at ALS Chemex assay lab in Elko, NV. The Phase 1 drilling program will take place in stages, beginning with the first 25 holes at an average depth of about 400 feet (10,000 feet).

Sam Nunnamaker, P. Geo in charge of Phase 1 exploration drilling, said: "The drilling program is moving along as planned and we are seeing typical mineralization that has already been identified from previous drilling efforts. Turn around time for assays, which is normally one week is now 2-3 weeks due to the busy drilling activity in the Battle Mountain/Elko, NV area. Our objective with these next 100 or so holes is to end up with a working mine model that is Guide 7 compliant giving us proven and probable reserves/resources."

Drilling results will be published as available over the next several weeks and these results will be used to generate a comprehensive report under SEC Industry Guide 7 over the next few months at the conclusion of Phase 1.

About General Metals Corporation, Inc.: General Metals is a gold and silver mining Company that operates the Independence Mine in Battle Mountain, NV and has recently acquired 150 sq. km. with a full prospecting license for gold, diamonds and base metals in Ghana, West Africa. Historical and recent geologist and engineering reports discuss an estimated 235,000 ounces of gold and 2.5 million ounces of silver in the Independence shallow target and from 818,000 - 2 million ounces of gold in the Independence deep target. Phase 1 shallow drilling is now underway. The Company also has several Confidentiality agreements in place in Nevada and Mexico relating to new business.

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, estimated ounces of gold or silver may not prove out and the drilling may not result in any proven or probable reserves or resources. 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 fiscal year 2007, 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:
    Steve Parent
    President & CEO
    steve@gnmtlive.com
    775.686.6078 office
    775.721.6428 cell