Science & Technology
Science and Technology
Science and Technology
Tue, August 4, 2009
Mon, August 3, 2009
General Metals Corporation : General Metals Announces Annual and Special Meeting September 12, 2009, Reno, NV
RENO, NV--(Marketwire - August 3, 2009) - General Metals ( Company President and CEO Steve Parent commented: "We have enjoyed a year full of progress, especially considering the economic difficulties faced by all companies this year. We owe a great debt of thanks to our shareholders who provided funding and support through these tough times. We are on target to achieve our goal of near term production as permitting and financing is advancing favorably." CFO Dan Forbush commented in an interview with Wall Street Reporter in mid-July and the link attached to that interview was in error. The correct link is below. To view the interview in its entirety, please go here[ http://www.wallstreetreporter.com/2009/07/general-metals-corp-otc-bb-gnmt-cfo-interview/ ] A detailed description of the Company's permitting activities leading to production is available at [ www.gnmtlive.com ] About General Metals Corporation: General Metals Corporation is an aggressive junior minerals exploration and development company, based in Reno, Nevada. The Company is actively exploring its 100% controlled Independence property strategically located in the prolific and highly prospective Battle Mountain Mining District, Nevada. Permitting and Engineering for heap leach production is underway at the Independence Mine. The Company recently sold its 150 sq. km. mining concession for gold, diamonds and base metals in Ghana, West Africa for $1,012,500 in cash and stock and retains a royalty. Notice Regarding Forward-Looking Statements This current report 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, including but not limited to, any mineralization, development or exploration of the Independence Mine and the Company's ability to arrange financing on acceptable terms to the Company. 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 and difficulties associated with obtaining financing on acceptable terms. 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 most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission. 1. The Company's Independence Project has all the elements to be a company builder and exhibits many similarities to the Glamis' Picacho Mine which was the profitable property that started that company and provided the foundation of a very successful mining company which eventually resulted in a sale of the Company to Goldcorp for more than $50 per share. 2. The Independence Project includes both a shallow and a deep component. The shallow mineralization appears to be amenable to low cost open pit mining and heap leaching. 3. The Company's business plan is to become a mid-tier mining company using the Glamis model beginning with the Independence and acquiring other projects which will allow it to become a more than 200,000 ounces per year gold producer. 4. We are progressing on the permitting to bring the project into production as soon as possible.
