bcMetals Corporation

bcMetals Corporation

January 17, 2007 20:33 ET

bcMetals Reviewing Announcment of Increased Imperial Offer

Shareholders Urged Not to Tender to Taseko Offer

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 17, 2007) - bcMetals Corporation (TSX VENTURE:C) announced today that its Board of Directors is reviewing the announcement made earlier today by Imperial Metals Corporation ("Imperial") that it is increasing the purchase price it is offering for all of the common shares of bcMetals to $1.165 per common share. The latest offer by Imperial also amends the conditions to its offer to remove the condition regarding the proposed joint venture between bcMetals and Global International Jiangxi Copper Mining Company Limited.

In accordance with the terms of the Support Agreement between bcMetals and Imperial, bcMetals has received a formal notice from Imperial in relation to these changes, which the Board of Directors is considering. The Board is reviewing the revised Imperial offer in light of recent developments and expects that it will shortly make a further announcement in relation to the increased Imperial offer.

As the revised offer by Imperial exceeds the current offer of $1.15 per share from Taseko Mines Limited ("Taseko"), shareholders are urged not to tender to the taseko offer. The Taseko offer expires at midnight (Pacific time) on January 19, 2007.

Ian Smith, President and Chief Executive Officer

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • bcMetals Corporation
    Ian Smith
    President and Chief Executive Officer
    (604) 683-0140
    (604) 683-0126 (FAX)
    Website: www.bcmetalscorp.com