SOURCE: General Metals Corporation

March 03, 2010 08:43 ET

General Metals Awarded Key Water Rights for Independence Mine Operation

RENO, NV--(Marketwire - March 3, 2010) -  General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT: GMQ) reports that the State of Nevada, Division of Water Resources (NDWR) has formally awarded General Metals water rights which will be immediately available to the Company upon completion of a well. The permit is subject to certain requirements, the first of which is that General Metals complete the production well and provide proof of the installation to NDWR on or before August 5, 2011.

The water right granted is for 1.34 cubic feet per second (cfs) or approximately 600 gallons per minute (gpm). This amount of water is sufficient to provide makeup water, dust control and other necessary uses for the Company's 2,400 gallon per minute process facility as planned by Dyer Engineering of Reno, Nevada.

Securing adequate water rights is a crucial step in the path to production for the Independence Property. In Nevada, a very arid state where most water basins are either fully or over allocated, it is critical that mines secure adequate sources of water. The Company has also applied for a separate additional permit to divert up to an additional 900 gpm. This application is pending with NDWR.

Further details regarding the Independence 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