Message #5 From:
Stock News Bot Date: February 20, 2007 05:38:00 AM
GNLM News General Metals Establishes Advisory Board and Appoints P.K. Rana Medhi as Chairman
RENO, Nev.--(BUSINESS WIRE)--General Metals Corporation (OTCBB:GNLM) is pleased to announce that P.K. Rana Medhi, of Casa Grande, Arizona, has agreed to serve as Chairman of the Company’s Advisory Board. Medhi is an independent consultant and a principal of Minerals Management, International -- a cooperative of mining professionals which provides comprehensive mining management services and technical support internationally to mineral industry and financial institutions. Currently, Medhi also serves as the Chairman of the Board of Governors of the Arizona Department of Mines and Mineral Resources and Trustee of the Boards of the Mining Foundation of the Southwest and AIPG Foundation.
In 1994 Medhi retired from Cyprus Amax Minerals Company after twenty-eight years of service to start his own private consulting practice. At Cyprus, he held various senior technical and management positions, including general manager of several of its operating divisions. There, Medhi participated in many of the industrial mineral, base metal and gold discoveries and mine development projects and played a key role in developing roasting, leaching and SX-EW technology. During early years of his career, Medhi served in various technical and supervisory capacities in Australia, India, South America and Southwestern United States with Callahan Mining Corporation, Inspiration Consolidated Copper Corporation and Cerro-de-Paso Corporation.
Medhi holds an M.S. degree from the University of Arizona and is a Registered Mining and Engineering Geologist in the states of Arizona and Oregon and a Certified Professional Geologist with the American Institute of Professional Geologists. He is also an adjunct professor of mining technology and geology with community colleges of Arizona.
The Company’s President and CEO, Steve Parent, said: ”To have Rana bring his expertise and worldwide mining industry contacts to assist management in the rapid global development of our Company offers us a tremendous resource. I have known and worked with Medhi since 1995, when he began his private consulting career and enjoyed his substantial contributions to the Companies that we have worked with.” Medhi is currently reviewing our proposed Ghana, West Africa, projects as well as our Independence Mine in Nevada.
The Independence claims are completely surrounded by Newmont Mining’s Phoenix Mine, www.newmont.com, and is a 240-acre island with legal access.
From 1983-1997 there were several exploration campaigns conducted by Noranda, Teck Exploration, Northern Dynasty and Great Basin Minerals which resulted in about 80 reverse circulation and core drill holes being drilled and reported. The 1997 Carrington Report, the 1997 Akright Report, the 2006 Carew Report and the 2005 Frost and Larsen findings are available for review in their entirety at the Company’s office in Reno, Nevada. An Executive Summary is available on the Company’s website, www.generalmetalscorporation.com.
An initial budget of $1,350,000 will be expended for geology, geophysics, phase 1 drilling and early permitting Targeted recovery: 235,000 oz. of gold and 2.5 million oz. of silver.
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, the financing of, and budget for, our proposed Phase/drilling and permitting program at our Independence Mine project, the existence and amounts of any economically recoverable mineralized material or reserves at the Independence Mine and any proposed acquisition 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. 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.
