SOURCE: General Metals Corporation

December 28, 2010 06:24 ET

General Metals Receives Regulatory Approval for Forward Split

RENO, NV--(Marketwire - December 28, 2010) - General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT: GMQ) is pleased to announce that the Company received approval from Financial Industry Regulatory Authority (FINRA) for the record date of December 29, 2010 and an effective date of January 4, 2011 for the forward stock split on the basis of ten (10) old for eleven (11) new shares of common stock (the "Forward Split"). The Forward Split was approved by the Company's stockholders on May 15, 2010 at the Company's Annual and Special Meeting.

"We are excited to implement the Forward Split approved by the Company's shareholders," said Dan Forbush, the Company's CEO and CFO. "The shareholders have earned this reward through their continued support of the Company this past year. We enter 2011 with renewed enthusiasm for progressing the Independence Project towards production. We will keep you posted on the advancements we make."

Further details regarding the Independence mineralization, drilling efforts, both historical and current, together with current permitting activity are available on the Company's website www.generalmetalscorporation.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-K for the most recent fiscal year, our quarterly reports on Form 10-Q 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