General Minerals Corporation

General Minerals Corporation

October 12, 2006 13:07 ET

General Minerals Corporation Announces Termination of the Joint Venture on the Monitor Copper-Silver Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2006) - General Minerals Corporation ("GMC" or the "Company")(TSX:GNM) announces that it has received notice from Teck Cominco American Incorporated ("TCAI"), a wholly owned subsidiary of Teck Cominco Limited, that TCAI is terminating its agreement on the Monitor copper-silver property located in southern Arizona. TCAI completed a program in 2005 that included geological mapping, sampling and a geophysical survey. A six-hole, 1,160 metre diamond drill program was completed in January of this year with inconclusive results.

GMC will review the Monitor information when it is received from TCAI. The Company believes that the property has untested potential for porphyry copper mineralization. The Company plans to show the property to other prospective joint venture partners.

General Minerals Corporation is an international minerals exploration company focusing its activities in North and South America. The Company has seven properties in the US, three in Bolivia, one in Chile and five in Mexico. The target mineralization at these sixteen properties is copper, silver and gold. The Company currently has two properties that are under option to major mining companies:

Escalones, Copper - Gold Porphyry Prospect (Chile) with the Phelps Dodge Chilean subsidiary, Minera Aurex (Chile) Limitada;

Markham Wash, Copper - Molybdenum Porphyry Prospect (USA) with TCAI.

Certain statements contained herein constitute "forward-looking statements". These forward-looking statements are based on current expectations and intentions which may change for a number of reasons. Forward-looking statements may include words such as "plans," "intends," "believes" and similar expressions. These forward-looking statements, including statements regarding the Company's beliefs in the untested potential mineralization and the Company's plans with respect to the Monitor property, are based on current expectations and entail various risks and uncertainties. Actual results and plans may materially differ from expectations as more information regarding the property is gathered or if known and unknown risks or uncertainties arise, or if our estimates or assumptions prove inaccurate. The Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.

SEC 12g3-2(b): 82-34810

Contact Information