bcMetals Corporation

bcMetals Corporation

January 07, 2005 19:05 ET

bcMetals Corporation: News Release


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BCMETALS CORPORATION

TSX VENTURE SYMBOL: C

JANUARY 7, 2005 - 19:05 ET

bcMetals Corporation: News Release

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 7, 2005) - bcMetals
Corporation's (TSX VENTURE:C) board of directors today granted two
50,000 share stock options to vice-presidents of the Company, as
provided for under terms of the Employee Stock Option Plan. Each option
is exercisable for a 5-year period at a price of $0.69 per share. The
board is exploring other forms of incentive payment for employees and
considering phasing out issuance of further Stock Options due to high
associated costs to existing shareholders.

bcMetals' key goal is to obtain the Red Chris Environmental Assessment
Certificate by the end of April, 2005. The Company will then proceed to
obtain the two most critical permits, the Special Use Permit for the
access road and the Mines Act Permit to start pre-production
construction activities for mining operations. Completing a timber
cruise along the access road alignment will be required before issuance
of a Licence to Cut by the Ministry of Forests. The cruise will identify
the quantity of merchantable timber to be cut for road construction to
start under the Special Use Permit.

The board authorized funding to complete a Scoping Study for Red Chris
incorporating the HydroCopper™ process. Forecast completion date is
February 28th.

The HydroCopper™ Process Tests for Red Chris Concentrate Report has
been received. The Report covers the bench scale testing conducted from
August to December, 2004. According to the results of this test program,
Red Chris copper concentrate is proven to be appropriate material for
the HydroCopper™ process. The concentrate grade to be used in the
HydroCopper™ plant is now being determined with a new series of
tests. These preliminary investigations are scientific and do not infer,
or reflect, any economic results. Before any commercial value could be
determined, additional investigation is required including a Feasibility
Study to incorporate HydroCopper™. This FS will utilize, and be an
addition to, the Company's already completed Feasibility Study based on
shipping copper-gold concentrate to Pacific Rim smelters.

Carl Zuber, Chairman and CEO

This release contains forward-looking statements within the meaning of
the "safe harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These statements are based on management's current
expectations and beliefs and are subject to a number of risks and
uncertainties that could cause actual results to differ materially from
those described in the forward-looking statements.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    bcMetals Corporation
    Carl Zuber
    Chairman and CEO
    (604) 683-0140
    (604) 683-0126 (FAX)
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this news release.