SOURCE: General Metals Corporation

November 29, 2007 08:06 ET

General Metals Update: Management Discussion of November 27, 2007 Assay Results and Clarification of New Mineralized Discovery at Independence Mine

RENO, NV--(Marketwire - November 29, 2007) - General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT: GMQ) -- In response to several questions from shareholders, Management is pleased to provide a brief explanation of the final drill results (assays) contained in its November 27, 2007 Press Release and the significance of the mineralized material discussion that followed the assay information.

The prior Press Release contained the following presentation:

"Holes 1, 2, 3 and 5 form a 'fence' of drill holes along Section 1600 N. The holes drill tested the projected extension of mineralization southerly beyond the Wilson Independence Mine in an area of favorable geology. As may be seen on the attached cross-section, (see 11/27/07 PR) all holes encountered mineralization over drill intercepts ranging from 30 to 55 feet. The drilling indicates mineralization from the surface which remains open at depth and along strike to the North and South."

The following Table presents the salient drill data from the holes discussed in this press release.

Drill  |             Mineralized Intercepts               | Gold Equivalent
Hole   |                                                  |
         From   To  Intercept Gold   Gold   Silver Silver  oz/t Au   g/t Au
        (feet) (feet)(feet)   oz/t   g/ton   oz/t   g/ton  Equiv @  Equiv @
                                                            $15 Ag   $15 Ag
                                                           $800 Au  $800 Au
GM-1       50    95    45     0.046  1.431   1.38   42.92   0.072     2.236
GM-2      165   195    30     0.012  0.373   1.37   42.61   0.038     1.172
GM-3      155   210    55     0.015  0.467   1.03   32.04   0.034     1.067
GM-5      150   205    55     0.032  0.995   1.58   49.27   0.062     1.919
Including 160   175    15     0.070  2.177   2.89   89.89   0.124     3.863
GM-6                         PENDING

Note: All notations of "t" and "ton" refer to a US "short" ton weighing 2000 pounds. All gold equivalent is calculated at a gold price of $800 (US) and a silver price of $15 per ounce, and does not consider variations which may exist in metallurgical recovery.

Explanation of Presentation of Drill Results and new mineralized discovery:

The location of these drill holes are about 300 feet south of the Independence mine workings (see attached Independence Mine Drill map) and represent a new discovery and an extension of the now known mineralization from 1,500 feet to 1,800 feet of strike length. This could increase the volume of mineralized material previously thought to exist by about 18% or more, should future holes provide the required continuity. Open at depth and along strike to the North and South means that the extent of mineralization has yet to be determined in all directions. What is known so far is limited by the extent of the drill holes only. The objective of the drill program is to FIND and DEFINE those limits.

The above table presents the ounces and grams/ton of both gold and silver over the contained depth of intercept in the designated drill hole as well as gold equivalent ounces per ton. Gold Equivalent is a method whereby, in a polymetallic gold deposit, the gross value of metals other than gold are converted to dollars-per-ton, then to equivalent ounce-per-ton values of gold. The 'equivalent' ounce-per-ton values are then added to the actual ounce-per-ton gold values to indicate the total value of the polymetallic rock in ounces per ton of gold. This allows comparison in ounce-per-ton value of polymetallic gold deposits with 'gold only' deposits. As an example, GM-1 has 0.046 opt gold, which equals $36.80 /ton. Using the gold equivalent calculation of 0.072opt gold equivalent, the result for the same rock equals$57.60/ton, which is the gross value, unadjusted for metallurgical or recovery variances.

An extensive technical discussion follows in the November 27, 2007 Press Release which shows that the identical signature elements that were present in the famous Fortitude deposit, the giant Phoenix project and the Cove McCoy project are present at Independence and that there is substantial evidence that the shallow mineralization is most probably a result of feeder systems from the deep mineralization that has already been identified historically.

As stated in the previous release: "The presence of coincident gold - silver - bismuth anomalies together with classic epithermal path finder elements such as arsenic and antimony support management's opinion that the near surface mineralization at the Wilson Independence property represents the epithermal expression of a leakage halo associated with, gold skarn style mineralization in the Independence Deep target. The Independence Deep target has an estimated potential 1-2 million ounces of gold.

These initial drill results support the model of near surface, potentially bulk mineable mineralization in the vicinity of the historic Wilson Independence Mine. The Independence Shallow target potential is estimated at 235,000 ounces of gold and 2,500,000 ounces of silver and target potential in the Independence Deep target is estimated at 1-2 million ounces of gold established through historical drilling and reports."

More information on the balance of the initial 25 drill holes that have been completed will be forthcoming once final assays have been received. The Company commenced drilling on Stage 2 of Phase 1, the next 25 holes, today. Management is encouraged by these initial discoveries and results.

About General Metals Corporation: The Company controls 100% of the 240-acre Independence property located in the southern part of the Battle Mountain Mining District, Humboldt County, Nevada., which is an island in the giant Phoenix Project. The Company also owns 150 sq. km. of mining concessions for gold, diamonds and base metals in Ghana, West Africa and plans to commence exploration activities this year.

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 Phase 1 drilling at its Independence Mine in Nevada or any shallow mining production later this year, the budget for the Phase 1 drilling program, that an estimated 235,000 ounces of gold and 2,500,000 ounces of 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 2007 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