SOURCE: General Metals Corporation

March 12, 2010 09:23 ET

General Metals Appoints Paul Wang to Board of Directors

RENO, NV--(Marketwire - March 12, 2010) - General Metals Corporation (OTCBB: GNMT) (FRANKFURT: GMQ) (the Company) today announced that Paul Wang has been appointed to the Company's board of directors. Mr. Wang is a corporate finance executive with extensive experience in strategic mergers & acquisitions, partnerships and operating agreements with a focus on natural resources that will round out General Metals' management team as the company moves forward and focuses on becoming a profitable gold producer. 

He has arranged cross border funding with the World Bank with insurance credit support and has sourced, negotiated and evaluated deal structures for private equity and direct investments developed with international banks, major European private equity houses, and investors for early stage financing, acquisition and buyout financing. Mr. Wang has over 15 years experience as a senior management consultant advising companies and private and institutional investors on acquisitions and complex transactions in the United States, Canada, the United Kingdom, Switzerland, and the Middle East. He is well versed in corporate governance ranging from junior US companies to large multi-national corporations and as Chief Financial Officer of United Mining Corp., assisted in taking that company public. He recently advised the Multi-National Corps-Iraq on improving banking and financial institutions, and coordinated US Department of State programs with the Iraqi public and private sectors. 

Mr. Wang has been Senior Planner at W.R. Grace & Company, evaluating natural resource acquisitions, expansions and divestitures; Project Finance Advisor to Chase Manhattan Bank, arranging project financing for natural resource projects; Investment Advisor to Bankers Trust Company, NYC (Deutsche Bank), directing financial planning and strategy for Europe; Chief Financial Officer, United Mining Corp.; and Senior Vice President and Limited Partner, APL Ltd., NV, advising clients such as Raytheon Aircraft Co., Air Hanson Ltd., Litton of Canada, Network Solutions Inc., EDO Corp.

Mr. Wang holds a degree in Physics with a minor in Economics from McGill University and an MBA from Wharton Graduate School with a major in Corporate Finance, Money and Banking.

About General Metals Corporation

General Metals Corporation is a 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 productive Battle Mountain Mining District of Nevada. For more information, visit www.gnmtlive.com.

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
    wayne@gnmtlive.com
    775.583.4636 office
    775.830.6429 cell