SOURCE: General Metals Corporation

May 24, 2010 09:29 ET

General Metals Corporation Appoints Mike Powell to Board of Directors

RENO, NV--(Marketwire - May 24, 2010) -  General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT: GMQ), is pleased to announce the appointment of Mike Powell to the Company's Board of Directors. Dr. Powell is a venture capitalist and General Partner at Sofinnova Ventures, a venture capital firm with approximately $1 billion under management, and offices in San Francisco, Menlo Park, San Diego and Tokyo. Dr. Powell replaces Mr. Bigler as former director, and the Company wishes Mr. Bigler well.

Mike Powell, Ph.D., has more than 25 years of pharmaceutical development experience, and he has focused interest in clinical-stage product companies. He joined Sofinnova Ventures as a General Partner in 1997. Prior to becoming a venture capitalist, Mike worked on 20 clinical products and authored almost 100 papers and books, including an 1,100-page treatise on vaccine design. Mike was an early investor in Actelion, InterMune, Anesiva, Orexigen Therapeutics, Seattle Genetics, and Threshold Pharmaceuticals, as well as several private companies such as Trius Therapeutics. Mike is currently Board President of AVAC (AIDS Vaccine Advocacy Coalition), a past Advisor to the Bill and Melinda Gates Foundation, a Strategic Advisor to One World Health, and a Founding Venture Advisory Board member of the IAVI Innovation Fund. Dr. Powell helped develop the recently tested AIDS vaccine, listed as one of the 50 best inventions of 2009 by Time magazine. 

Prior to Sofinnova, Dr. Powell held several industry positions, including Group Head of Drug Delivery at Genentech (1990-97), Director of Product Development at Cytel (1987-90), and Senior Scientist at Syntex Research (1984-87). Mike had the honor of being the first scientist from the biotechnology industry to be elected a Fellow of the American Association of Pharmaceutical Scientists. He was also an Adjunct Professor at the University of Kansas, an Editorial Board member of J. Pharm. Sci., and a Scientific Advisor to the Controlled Release Society.

He received his Ph.D. in Physical Chemistry from the University of Toronto in 1981, and completed his post-doctorate work in Bioorganic Chemistry at the University of California, where he was subsequently a faculty member (1981-84).

Dr. Powell is an experienced venture capitalist with expertise in spin-outs and numerous IPO's, and extensive experience in corporate governance and finance that will allow the Company to grow smoothly towards near term gold production. 

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