August 6, 2008
MetalCORP Announces Grant of Stock Options
THUNDER BAY, ONTARIO--(Marketwire - Aug. 6, 2008) - MetalCORP Limited (TSX VENTURE:MTC) is pleased to announce that it granted 1,005,000 incentive stock options to its directors, officers and consultants today. The options, which are priced at $0.50, have a five-year term and will vest one-third immediately, one-third in twelve months and one-third in twenty-four months. These options have been priced at market value as of the end of trading Tuesday, August 5, 2008. Of the 1,005,000 stock options, an aggregate of 695,000 were granted to insiders of MetalCORP.
MetalCORP is a mineral exploration company based in Thunder Bay, Ontario with base metal and gold projects in the Canadian Shield of Northern Ontario, Canada, one of the most prolific mineral districts in the world. The projects, with an area of more than 65,000 acres, include the Big Lake copper-zinc-silver-gold property, the North Rock copper-nickel-platinum property, the new Python nickel-copper- zinc property and the new Fearless zinc-copper-gold property, all of which are under active exploration. MetalCORP's four gold projects, with a claim area of more than 20,000 acres, include the Dorset, Pickle Lake, Black Bear and Keezhik Lake properties. By identifying early stage properties that may be enhanced by exploration, MetalCORP's experienced management team has assembled a great portfolio of projects.
MetalCORP has 46,291,636 common shares outstanding and approximately $4,500,000 in cash and no debt. To find out more about MetalCORP Limited (TSX VENTURE:MTC), visit our website at www.metalcorp.ca. The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's forward-looking statements and expectations.
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