SOURCE: Wall Street News Alert

Wall Street News Alert

May 02, 2007 09:37 ET

Wall Street News Alert: Breaking News Alert - GNLM! May 2, 2007

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL--(Marketwire - May 2, 2007) - Wall Street News Alert's "stocks to watch" this morning are: General Metals Corporation (OTCBB: GNLM), Harmony Gold Mining Co. Ltd (NYSE: HMY), IAMGOLD Corporation (NYSE: IAG) and Meridian Gold Inc. (NYSE: MDG).

General Metals Corporation (OTCBB: GNLM) is out with great news this morning! This morning the company has announced that it is appearing today in the Corporate News Section of Investors Business Daily (IBD), for Wednesday May 2, 2007 print. Furthermore, the company also announced that its wholly owned subsidiary Mikite Gold Resources has received an offer from the Minerals Commission in Ghana to have its 150 sq. km. Nyhinahin mineral concession upgraded from a reconnaissance license to a full prospecting license.

The Nyhinahin mining concession, near Bibiani, Ghana, has the mineral rights for gold, diamonds and base metals. The property shares borders with several major mining companies, including Newmont Mining, Napoli Gold and Dunkwa Continental Goldfields. The district is home to the famous Ashanti Goldfields-Obuasi Mines and is one of the most active exploratory areas in the world. Newmont Mining, alone, plans to spend three billion dollars exploring for gold and developing gold mines in Ghana.

Steve Parent, General Metals President and CEO comments: "This acquisition gives us an operational Ghanaian corporation and a group of interested shareholders familiar with the area to assist in the development. The upgraded status allows us to conduct substantially more exploration than was previously allowed. This infrastructure will enable us to aggressively seek to acquire additional mining properties in the area as they become available. We are currently reviewing a fully permitted gold mine that may be available on favorable terms that is in the Confidentially stage at this time. Having Newmont as a neighbor gives us added confidence as well."

Dan Forbush, CPA,MBA and the Company's CFO, said: "Acquisitions were the method we used at Glamis to rapidly grow the operations of the Company and we are of the same mind here at General. We are studying several near term production opportunities in Nevada, Ghana, Mexico and Columbia at this time."

See the company's press release for full details of the acquisition terms.

Wall Street News Alert is continuing to place Aggressive Investors on alert to monitor the progress of General Metals! General Metals Corporation controls 100% of the Independence claims, which are completely surrounded by Newmont Mining's Phoenix Mine and is a 240-acre island with legal access. Newmont enjoys 8.5 million ounces of gold and 660 million pounds of copper in reserves with substantial additional mineralized material, which is target to be upgraded. The Phoenix Mine is the largest operating gold mine in the US.

GNLM stock closed Tuesday at around Twenty-Nine cents.

For Wall Street News Alert's in-depth and updated profile of General Metals Corporation, visit: http://www.thenewssvc.com/GNLM050207.html

To view all of Wall Street News Alert's special early morning trading alerts for this morning, visit www.WallStreetNewsAlert.com, where you may also sign up to receive free email alerts in advance of our press releases being issued.

Harmony Gold Mining Co. Ltd (NYSE: HMY) down 0.6% on 1.6 million shares traded.

Harmony Gold Mining Company Limited engages in the exploration, processing, smelting, refining, and beneficiation of gold in South Africa, Australia, and Papua New Guinea.

IAMGOLD Corporation (NYSE: IAG) down 1.1% on 1.2 million shares traded.

IAMGOLD is the top mid tier gold producer with production of over 1 million ounces and the tenth largest gold company in the world. IAMGOLD is a strong believer in the outlook for gold and holds roughly US$90 million in physical bullion as currency diversification.

Meridian Gold Inc. (NYSE: MDG) up 0.3% on 891,000 shares traded.

Meridian Gold Inc. is a different kind of gold company. The focus is on profitability, and the quality of the ounces produced, not the quantity of ounces produced. The quality of these ounces is measured by the value delivered to all stakeholders during the process; including all shareholders, employees and the communities and environment in which Meridian lives and operates.

Market Commentary:

"ExxonMobil Corp. said that for 2007's first quarter they had a 10% rise in profits, the best-ever first quarter. The world's largest oil giant earned $9.3 billion in the January-March period," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.

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