MetalCORP Limited
TSX VENTURE : MTC

MetalCORP Limited

May 20, 2009 08:30 ET

MetalCORP/Trelawney Dorset Joint Venture Moving Ahead Toward Bulk Sample

TORONTO, ONTARIO--(Marketwire - May 20, 2009) - MetalCORP Limited ("MetalCORP" or the "Company") (TSX VENTURE:MTC) announces that its Dorset Gold Property located near Wawa, Ontario is being advanced by its joint venture partner, Trelawney Mining and Exploration Inc. ("Trelawney"). Trelawney recently announced (see Trelawney news release dated May 15, 2009) that it is moving ahead with preparations to extract a bulk sample. Its plans include additional metallurgical testing, obtaining the necessary permitting and securing a contractor for road construction and the mining of the bulk sample.

Trelawney reported that it completed standard preliminary laboratory bottle roll cyanidation, flotation and an acid base accounting ("ABA") test on one small sample (approx. seven kilograms) collected from surface mineralization from one of the zones, the Dorset "B" zone. The test indicated the sample is non-acid generating but it is refractory to cyanidation with approximately 20% gold recovery. Bottle roll leach and "ABA" testing was completed by Process Research Associates, Richmond, B.C. and flotation testing was conducted by metallurgical consultant, Mr. Gary Hawthorn, of Westcoast Mineral Testing Inc., Vancouver. Due to the small sample size and with only one sample analyzed, Trelawney reported that the gold recovery may not be representative of the entire Dorset "B" zone; accordingly, Trelawney expects that additional testing will be completed on the "B" zone in June. Additionally, since no metallurgical testing has been completed on the Dorset "Main" zone, Trelawney expects to complete metallurgical testing samples from this area in June prior to finalizing plans to extract the bulk sample.

The Dorset Property consists of 2,480 acres (992 hectares) and hosts several gold occurrences. It is located adjacent to Wesdome's producing Eagle River gold mine. In 2008, MetalCORP formed a joint venture on the Dorset Property with Trelawney. Currently, Trelawney owns 53% and manages the joint venture. MetalCORP owns the remaining 47%. Trelawney commissioned a NI 43-101 compliant resource estimate on the Dorset Property which provided an initial estimate (using a 0.50 grams of gold per tonne cut-off) consisting of an Indicated Resource of 780,000 tonnes grading 1.42 grams/tonne gold containing 40,000 ounces of gold and an Inferred Resource of 4.76 million tonnes grading 1.19 grams/tonne gold containing 180,000 ounces of gold. Pursuant to the terms of the Joint Venture Agreement, Trelawney as operator has the right to present exploration, development and mining programs to the joint venture parties from time to time and each party has the right to elect whether or not to participate; if a party elects not to participate to its full percentage interest, its interest in the Joint Venture may be diluted. MetalCORP anticipates that Trelawney will present such programs to MetalCORP from time to time for participation decisions as further testing, permitting and bulk sampling plans are developed and results are obtained.

Robert Duess, P.Geo., is a Qualified Person as defined in National Instrument 43-101 and is responsible for the technical information presented in this news release.

This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities regulation, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "anticipates", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information