SOURCE: General Metals Corporation

October 25, 2007 08:11 ET

General Metals Update: Assays on First Four Drill Holes at the Independence Mine Confirm Historical Mineralization and Identify New Mineralized Zone

RENO, NV--(Marketwire - October 25, 2007) - General Metals Corporation (OTCBB: GNMT) (FRANKFURT: GMQ) (the "Company") is pleased to announce that the initial four drill hole assays received from ALS Chemix in Reno, NV from Phase 1 drilling at the Independence mine confirm expected mineralization that has previously been identified by historic drilling campaigns and identified a new mineralized zone previously undiscovered. 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).

Hole GM1 showed a 45 foot mineralized intercept from 50-95 feet deep which averaged 0.046 ounces per ton (opt) of gold. This included 15 feet of 0.116 opt of gold. Hole GM2 showed 15 feet of mineralized intercept averaging 0.018 opt of gold and the drill bit got stuck in mineralization and had to be removed. The hole was abandoned and GM3 was started about 10 feet away and showed 45 feet of mineralized intercept averaging 0.017 opt of gold. GM5 showed 45 feet of mineralized intercept averaging 0.017 opt of gold which included 15 feet of 0.04 opt of gold. No results for GM4 were reported. These were partial results and silver and other elements known to exist in this mineralization historically will be reported subsequently for these same holes.

Sam Nunnamaker, P. Geo in charge of Phase 1 exploration drilling, said: "These initial holes were drilled as a fence to assist in defining the extent of mineralization. We now know there is consistent mineralization to the south. We are pleased to see 45 foot intercepts in mineralization in the expected zones but even more excited to see an entirely new zone of mineralization which will mandate additional drill holes in the new area."

Steve Parent, CEO and President, said: "We elected to get these partial results as soon as possible to provide guidance for our drilling program which has already completed over 15 holes. Once our assays catch up to the drilling operation, we can add additional holes to our program designed to establish continuity of mineralization. The new zone offers a possible expansion of the previously known limits for shallow mineralization and we will pursue its exploration."

More results for these same holes will be forthcoming as available. Drilling results from additional holes 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, 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