General Metals Executives Conclude European Tour With London Stock Exchange Presentation and Follow Up Monday Meetings
General Metals Corporation (OTCBB: GNLM) (FRANKFURT: GMQ) (the “Company”) confirms that our European Tour concluded with our Presentation at the London Stock Exchange on Friday, June 22, 2007 and meetings on Friday and Monday with Investors and Investment Bankers.
Company President and CEO Steve Parent said, “We have opened discussions with both old and new financial contacts on this trip and will be pursuing proposals with several institutions regarding their potential participation in our future $10,000,000 financing activities. We had meetings after the presentation in London on Friday and held follow up meetings on Monday and are encouraged by the keen level of interest in our Independence Mine in Nevada, our Ghana, West Africa project and the properties we currently hold under Confidentiality Agreements.”
We are returning to the US today and will be in Reno for the Annual and Special Shareholders Meeting on Friday, June 29, 2007 held at 1:00PM at our offices. A further discussion will be held at that time. This date is the official record date for our upcoming 11:10 forward split that is proposed to be ratified by shareholder vote at that time.
Our Power Point Presentation will be featured on our website, www.generalmetalscorporation.com later today.
About General Metals Corporation, Inc: General Metals is a gold and silver mining Company that operates the Independence Mine in Battle Mountain, NV and has recently acquired 150 sq. km. with a full prospecting license for gold, diamonds and base metals in Ghana, West Africa. The Independence mine is located as an island in Newmont Mining’s world-class Phoenix mine (www.newmont.com), which is the largest producing gold mine in the US. The Phoenix mine contains 8.5 million ounces of gold and 660 million pounds of copper in reserves. Historical and recent geologist and engineering reports discuss an estimated 235,000 ounces of gold and 2.5 million ounces of silver in the Independence shallow target and from 818,000-2 million ounces of gold in the Independence deep target. Phase 1 shallow drilling is scheduled to commence in a few weeks. We recently executed a Confidentiality agreement with Newmont Mining to consider possible future operations.
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, any future price of the Company’s shares, that an estimated 235,000 ounces of gold and 2,500,000 ounces of silver are contained in the mineralized material in the shallow operation, that the deep target in the southern area of the property could contain mineralized material with 1.4 million ounces of gold at an average grade of 0.17 ounces gold per ton, or 818,000 ounces of gold at a grade of 0.27 ounces gold per ton. It is uncertain whether the Company’s $10,000,000 equity financing efforts will be successful. 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 fiscal year 2007, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact: Steve Parent President & CEO generalmetals@hotmail.com 775.686.6078 office 775.721.6428 cell European contact: Aspen Agency Limited +011 44 870 479 3351 info@aspenagency.eu
SOURCE: General Metals Corporation