SOURCE: General Metals Corporation

May 16, 2007 10:39 ET

General Metals Corp Clarifies Record Date of May 22, 2007 for 11:10 Forward Split and Shareholders Entitled to Vote at the Annual & Special General Meeting

RENO, NV -- (MARKET WIRE) -- May 16, 2007 -- General Metals Corporation (OTCBB: GNLM) (FRANKFURT: GMQ) -- On May 10, 2007 the Company announced that it has set a record date of May 22, 2007 for its upcoming annual and special general meeting of shareholders scheduled to be held on June 29, 2007 in Reno, Nevada. A 14(a) proxy statement will be sent to shareholders of record.

The Company has also set the record date of May 22, 2007 for shareholders of record to participate in the proposed 11:10 forward stock split which is anticipated to be approved at the annual and special general meeting scheduled for June 29, 2007. The effective date of the forward split will be shortly after its approval at the annual and special general meeting.

What this means exactly is that as market transactions, trades must be settled by the record date to qualify for the forward split. Trades conducted on that date are pending trades and as such will not qualify. Purchasers are advised to confirm with their brokers when trades need to settle to participate.

As warrant exercise or Private Placement, the money must be received by our Reno, NV office with the proper paperwork with adequate advance notice to enable a treasury order to be issued and shares to be issued by the transfer agent before close of business on May 22, 2007.

The Company has been advised that another $250,000 or so of warrants are in the process of being exercised prior to the record date. An 8-k will be filed accordingly.

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 the actual date of the annual and special general meeting and the approval of the forward stock split.

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 2006 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