SOURCE: General Metals Corporation

May 13, 2008 09:54 ET

General Metals Welcomes David L. Holmes, President, CEO, CIO of Adagio Trust Company of Reno, NV to Our Advisory Board

RENO, NV--(Marketwire - May 13, 2008) - General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT: GMQ) is pleased to announce that David L. Holmes, President, CEO and Chief Investment Officer of Adagio Trust Company of Reno, NV has joined our Advisory Board.

Mr. Holmes is the founder of Adagio Trust Company. He brings a strong academic and professional background in trusts and investments to his role as President, CEO and Chief Investment Officer of Adagio. He holds a BS in Accounting and an MBA in Finance from Brigham Young University, a Certified Trust and Financial Advisor certificate (CTFA), and a Certified Management Accountant (CMA) certificate. He also completed Morgan Stanley's rigorous eight-month Portfolio Management and Capital Market Training program in 1990. At Adagio, he has helped the firm grow from concept phase to managing $355 million from offices located in Reno and Las Vegas Nevada while achieving excellent composite performance on client accounts derived from internally generated investment strategies and products.

His work experience includes 10 years during the 1980s in accounting management culminating in 5 years as VP Finance of Realty Income Corporation. From 1990 through year-end 1994, he managed individual client money as a broker with Morgan Stanley. For the next five years he served as Vice President and Portfolio Manager for Whittier Trust Company managing all client assets in the Nevada office and a majority of the assets in the San Francisco office. At Whittier, Mr. Holmes played a key role in maintaining and developing Whittier's internal equity strategies where he served as strategy lead manager on three strategies and back up manager on three others. During his tenure at Whittier, assets under management for the Nevada office grew from under $200 million to $1 billion and firm assets grew from $2.2 billion to $4 billion.

Mr Holmes commented: "This is a tremendous project and a historical time for gold development. I appreciate the opportunity to be of assistance in the financial development of a local company whose vision is to become a substantial producer in the industry."

Company President and CEO, Steve Parent said: "Mr. Holmes appreciates the needs of a start up mining company and shares our vision of growth and has committed to help guide us in our current and future development financing activities. He enjoyed a recent visit to the Independence Mine and appreciated a comprehensive tour with our consulting geologists and management."

Company CFO, Dan Forbush, says: "I have known David for several years and he has expressed a priority commitment to management to assist in the overall financial development strategy of our Company. We are very fortunate to have his talent and vision on our team. David followed my career at Glamis and understands the opportunity for significant leverage that our Company represents at this early stage."

About General Metals Corporation: The Company is production and growth oriented and controls 100% of the strategically situated Independence Mine property located in the prolific Battle Mountain Mining District on the Battle Mountain - Eureka gold trend, in Humboldt County, Nevada, adjacent to the giant Phoenix project. The current drilling program is designed to confirm early estimates of mineralized material thought to contain 235,000 oz. gold and 2,500,000 oz. silver and to expand the mineralized envelope which enhances near term production numbers. 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.

A detailed description of the exploration and production history of the Independence property is available on the Company's web site at www.gnmtlive.com. Equities Magazine's May issue contains an article on General Metals' progress in 2007 and can be found in bookstores on page 108, or online at www.equitiesmagazine.com.

The Company also wishes to advise shareholders that it has moved its offices to a more permanent address as follows: 615 Sierra Rose Drive, Suite 1, Reno, NV 89511. The new phone numbers are listed below.

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

  • Contact:
    Wayne Meyerson
    Investor Relations
    General Metals Corporation
    wayne@gnmtlive.com
    775.621.5400 office
    775.830.6429 cell
    1.877.329.8902 Toll Free