SOURCE: General Metals Corporation

September 07, 2010 09:30 ET

General Metals Appoints Paul Wang as President

RENO, NV--(Marketwire - September 7, 2010) -  General Metals Corporation (OTCBB: GNMT) (FRANKFURT: GMQ) (the Company) today announced that Paul Wang has been appointed by the Company's board of directors to the position of President effective September 3, 2010. Mr. Wang was elected as a Director of the Company and appointed on March 12, 2010 and will remain as a Director. Mr. Robert G. Carrington, who has been serving as the Company's Interim President since February 2010, will continue to support the Company and remains as a Director.

Mr. Wang has extensive experience in strategic mergers & acquisitions, partnerships, and joint ventures with a focus on natural resources, and will round out General Metals' management team as the Company moves to maximize the company valuation. His focus will also be on investor relations, fund raising, acquiring other gold and silver properties, and developing the Company's existing operations.

Mr. Wang has over 15 years experience as a senior management consultant advising companies, and institutional investors on acquisitions, and complex transactions in the United States, Canada, Europe, and the Middle East. He is well versed in corporate governance, ranging from junior US companies to large multi-national corporations. As Chief Financial Officer of United Mining Corp., he assisted in taking that company public and evaluated the Company's Independence Property in Nevada. He recently advised the Multi-National Corps-Iraq as the Subject Matter Expert Banking and Finance on improving the banking and financial institutions within the Iraqi public and private sectors.

Mr. Wang has been a Senior Planner at W.R. Grace & Company, NYC, evaluating natural resource acquisitions, expansions and divestitures in North and South America; Project Finance Advisor at Chase Manhattan Bank, NYC, arranging project financing for natural resource projects; Investment Advisor at Bankers Trust Company, NYC, directing financial planning and strategy in Europe; Chief Financial Officer, for United Mining Corp., NV; and recently Senior Vice President and Limited Partner, APL Ltd., advising private equity clients on international direct investments and cross border leasing.

Mr. Wang holds a degree in Physics from McGill University, Montreal, and an MBA from Wharton School of the University of Pennsylvania.

Further information regarding the Independence including a map of drill holes and composite drill intervals and other information 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.

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