Message #7 From:
Stock News Bot Date: February 22, 2007 05:08:00 AM
GNLM News General Metals Welcomes Robert G. Carrington P.Geo to the Advisory Board and to Our Operations Team
RENO, Nev.--(BUSINESS WIRE)--General Metals Corporation (OTCBB:GNLM) is pleased to announce that Robert G. Carrington, P.Geo., B.Sc., Consulting Geologist, of Reno, Nevada has joined the Company’s Advisory Board. Robert G. Carrington is a Registered Professional Geologist and a Registered Engineering Geologist with more than 28 years of experience in domestic and international exploration, development and production. He is currently the President and owner of Carrington Consultants, a Nevada-based mining consultancy company established in 1984. Mr. Carrington has been a co-founder, officer and director of many public and private companies throughout the Americas and Circum Pacific region. He has extensive experience in Nevada, including in the Carlin and Battle Mountain – Cortez gold trends. During his career he was involved in the discovery and development of deposits containing more than 40 million ounces of gold. Mr. Carrington is a graduate of the Mackay School of Mines and Geology in Reno, Nevada.
As a young geologist in Nevada, Carrington worked for United Mining, which was one of the operators of the Independence Mine, now controlled by Genera Metals Corporation. Since that time, he has been involved over the years with the mine, its owners, operators and virtually all the exploration campaigns conducted in the 1980s and 1990s. He has provided reports and records of these activities to the Company which have enabled us to more accurately evaluate the known mineralization, providing a greater level of confidence in the historical information. He was also instrumental in bringing this project to our Company.
Carrington will also be involved in our Operations Team and will lead the drilling team operated by Drift Drilling and Exploration of Calgary, Alberta in the Phase 1 & 2 campaigns. Carrington comments as follows: “I am excited about the future prospects for the Independence Mine. The fact the we are involved in expansion discussions regarding the deep target is evidence that we are committed to making this a world class project that I am very proud to be involved with.” He goes on to say, “I worked with the Company’s President, CEO Steve Parent, COO Dave Salari and Rana Medhi in the construction and operation of the Plum Mine’s cyanide heap leach operation in the Comstock lode, near Virginia City, Nevada, in 2003 and we worked very well together. The production part of the shallow Independence will virtually be a cookie-cutter duplication of that operation. We accomplished that ahead of schedule and under budget and I am sure this start up will be even smoother.”
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, that the Company intends to proceed with Phase 1 or Phase 2 drilling at its Independence Mine in Nevada, any similarities between the Independence Mine and the Plum Mine, that an estimated 235,000 ounces of gold and 2,500,000 ounces of silver are contained in the mineralized material in the shallow target, that, in addition to the shallow target, the deep target may contain 2,000,000 ounces of gold, and the budget and expenses associated with any Phase 1 drilling program.
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 2006 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time to time with the Securities and Exchange Commission.
