SOURCE: General Metals Corporation

August 17, 2007 08:08 ET

General Metals Expands Claims and Assets at Independence Mine and Reports That Phase 1 Drilling Has Been Delayed

RENO, NV--(Marketwire - August 17, 2007) - General Metals Corporation (OTCBB: GNMT) (FRANKFURT: GMQ) (the "Company") confirms that on August 16, 2007, the Company executed the First Amendment to the Mining Lease it holds with Independence Gold-Silver Mines, Inc. and has added 4 additional mining claims to its existing lease. These claims cover the area where the existing cyanide decantation mill and operating facilities are currently cited and the area where the Pioneer Haul Road crosses the Independence claims; specifically, Independence #1, #2, DC #83 and An Old Glory. Underground reconnaissance and early drilling has shown that when the proposed open pit mining operation is started that the mill and equipment will be relocated to the private land where the processing and heap leach operation will be cited and that there could be substantial mineralized material contained under the mill site that will be within the Plan of Operation Boundary for the proposed open pit.

Company CFO, Dan Forbush, states: "This Addendum now gives General Metals complete control of all assets associated with the Independence property, including the Mill equipment and existing easements that have been leased by others from time to time. This opens up a new drill horizon that is expected to add additional gold and silver drill results to our current estimates of 235,000 ounces of gold and 2.5 million ounces of silver in the Shallow Target. We have suffered a delay in starting our Phase 1 drilling program due to changes beyond our control with our contract drillers of choice and drilling crew shortages. We are seeking alternatives, but in the end, the cost of the program will dictate which plan we go with. It is management's position that we would rather drill more holes than pay more money for fewer holes, so we may choose to wait a few weeks. We are still within our budget parameters."

Further information will be forthcoming as we make drilling progress and as we expand opportunities currently covered by Confidentiality Agreements.

About General Metals Corporation, Inc: General Metals is a gold and silver mining Company that operates the Independence Mine in Battle Mountain, NV. The Independence mine is predominately a silver mine that produced from 1938 through 1987. Historic production by the various operators totaled 750,200 ounces silver and 11,029 ounces gold. The average recovered grade of all recorded production was 0.17 oz. gold and 11.53 ounces of silver per ton. Historical and recent geologist and engineering reports discuss an estimated 235,000 ounces of gold and 2.5 million ounces of silver in the Independence shallow target (Phase 1) and from 818,000-2 million ounces of gold in the Independence deep target (Phase 2). The Company recently acquired 150 sq. km. with a full prospecting license for gold, diamonds and base metals in Ghana, West Africa and is in Confidentiality in Sonora, Mexico. A more detailed discussion is available at www.generalmetalscorporation.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, any future price of the Company's shares, that an estimated 235,000 ounces of gold and 2,500,000 ounces of silver are contained in the mineralized material in the shallow operation, that the deep target in the southern area of the property could contain mineralized material with 1.4 million ounces of gold at an average grade of 0.17 ounces gold per ton, or 818,000 ounces of gold at a grade of 0.27 ounces gold per ton. It is uncertain whether the Company's Confidentiality efforts with Ofelia will be successful. 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 fiscal year 2007, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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