General Metals Corporation (OTCBB: GNLM)
RENO, Nev.–(BUSINESS WIRE)–General Metals Corporation (OTCBB:GNLM – News) is pleased to announce that it has accepted an invitation to be one of 8 presenting Companies at the Equities Mining Day Conference, held on April 24, 2007, at the Yale Club in New York, NY. The Mining Ministers of Mexico and Canada will be in attendance, as well as notable guest speakers that will address an audience of targeted institutional and private investors. The Conference is being sponsored and hosted by Equities Magazine, which since 1951 has been the leading proponent of undiscovered small-cap companies. General Metals presented at the Trans Atlantic Conference on September 15, 2006, at The American Stock Exchange in NY, which was also hosted and sponsored by Equities Magazine.
Company President and CEO Steve Parent comments: “This represents a great opportunity for our relatively new mining company to gain greater exposure to the mining industry and to its investors. We believe that we offer an uncommon investment opportunity, being located in the Battle Mountain-Cortez Trend in and adjacent to the largest producing gold mine in the US, Newmont’s Phoenix Project (www.newmont.com). The addition of Daniel J. Forbush, CPA, MBA and former CFO for Glamis Gold as our New CFO adds a dynamic to our management group that should also inspire investor interest and confidence. Dan helped build Glamis from a one-project company to a large mining company in a short period of time and has committed to help us do the same.”
The Company is proceeding with drilling and permitting at its Independence Mine in Nevada, which is an island inside Newmont mining’s claims that contain their Phoenix Mine. The Independence Mine is predominantly a silver mine that produced intermittently from 1938-1987 and reported production of 11,000 ounces of gold and 750,000 ounces of silver.
At current prices of over $650 per ounce gold and $13.50 per ounce silver, and with an estimated 235,000 ounces of gold and 2,500,000 ounces of silver contained in the mineralized material in the “Shallow Target,” according to Ackright in his 1997 report, timing for development has never been better. In addition to the shallow target, the “Independence Deep Target” was thought to contain 2,000,000 ounces of gold, according to an interoffice memo from Noranda when they completed 25,000 feet of diamond drilling. We have all of the core at the mine which has been re-logged and re-assayed. Please visit the Company’s website, www.generalmetalscorporation.com, for a full discussion under “Executive Summary and Exploration Plan.”
As a part of its global acquisition and development strategy, the Company recently acquired 100% ownership of 150 sq. km. of gold, diamond and base metals mining concessions in Ghana, West Africa, and plans to commence exploration activities in the near future.
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 Company intends to proceed with drilling and permitting at its Independence Mine in Nevada as well as to pursue its global acquisition and development strategy, that an estimated additional 235,000 ounces of gold and 2,500,000 ounces of silver are contained in the mineralized material in the “Shallow Target,” and that, in addition to the shallow target, the “Independence Deep Target” may contain 2,000,000 ounces of gold, and the commencement of exploration activities by the Company in Ghana, West Africa.
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 2004 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:
General Metals Corporation
Steve Parent, President & CEO
775-686-6078 office
775-721-6428 cell
generalmetals@hotmail.com
Source: General Metals Corporation
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