Stock Banger

Breaking News: General Metals (GNMT) Newly Discovered Hill Zone Contains Three Mineralized Zones and Drills Additional 140 Feet 0.043 opt Au Equiv.

RENO, NV–Jul 29, 2008 — General Metals Corporation intersected additional high grade oxide surface mineralization including 140 feet averaging 0.043 opt Au Equiv. which included 35 feet assaying 0.101 opt Au Equiv. in hole GM-57. Other significant drill intercepts include 45 feet averaging 0.051 opt Au in hole GM-58, while hole GM-59 intersected 35 feet which assayed 0.068 opt Au Equiv. All drilling is oriented perpendicular to mineralized zones and reported intercepts are believed to represent approximate true widths of the mineralization.

These holes confirm and expand the high grade oxide mineralization in the Hill Zone recently discovered by the Company’s exploration team. The Hill Zone is a large, highly mineralized area north of the Canyon Fault and the Independence Shallow Target. Unlike the Independence Shallow Target, there is no historic mining in the high grade areas of the Hill zone, so all the mineral is still in place.

“This discovery significantly enhances the mineral potential of the 60% of the property which lies north of the Canyon Fault,” explained Steve Parent, President and CEO of the Company. “Drilling in the Hill Zone indicates three parallel zones of mineralization, each of which is comparable in width and grade to the single mineralized zone found in the Independence Shallow Target to the south,” he continued.

Robert Carrington, consulting geologist and member of the Company’s Advisory Board, stated, “I have been involved in this project for over 30 years and it is exciting to see the Independence exceed even my expectations … it’s no longer a question of if, but how big a mine the Independence is going to be.”

Drill Holes GM-57 and 58, drilled on Section 3800 North, encountered broad zones of near surface oxide mineralization and tested mineralization down dip surface and on strike from mineralization projected north from Section 3400 North and south from Section 4000 North. GM-57 returned 140 feet from 210 to 350 feet assaying 0.043 opt Au Equiv. and GM-58 encountered 125 feet averaging 0.024 opt Au Equiv. from 60 to 185 feet.

GM-59 drilled roughly 230 feet down dip from holes GM-55 and 56 (previously reported), also on Section 4000 North, traces mineralization down dip for more than 660 feet from the surface. The hole intersected a previously unknown zone of mineralization from 30 to 65 feet which assayed 0.068 opt Au. Equiv. as well as the main Hill Zone target which assayed 0.013 opt Au Equiv over the 75 foot interval from 450 to 525 feet. Each of the holes GM-55, 56 and 59 intersects two mineralized zones. The upper most intersection in hole 59 appears to be a previously unknown zone of mineralization and does not correlate with other intercepts in adjacent drill holes. The deeper zone in holes GM-55 and GM-56 are clearly a deeper zone parallel with the main Hill Zone mineralization. Interpretation of drilling on this section clearly indicated three parallel mineralized zones and indicates that hole GM-59 was not drilled deep enough to intersect the lowermost of these three important zones. The mineralized zones continue to exhibit excellent continuity along strike and to depth.

Table 1 below presents the salient drill data for hole GM-57, 58 and 59 as discussed in this press release.

Table 1

Mineralized Intercepts Gold Equivalent

oz/t g/t
Drill From To Intercept Gold Gold Silver Silver Au Au
Hole (ft) (ft) (ft) oz/t g/ton oz/t g/ton Equiv. Equiv.

GM-57 210 350 140 0.038 1.18 0.24 7.46 0.043 1.32
Including 210 245 35 0.093 2.89 0.40 12.44 0.101 3.13
GM-58 60 185 125 0.024 0.75 0.36 11.32 0.031 0.96
Including 110 155 45 0.037 1.15 0.75 23.27 0.051 1.59
GM-59 30 65 35 0.042 1.31 1.40 43.39 0.068 2.12
Also 450 525 75 0.010 0.31 0.15 4.60 0.013 0.40

Note: All notations of “t” and “ton” refer to a US “short” ton weighing 2000 pounds. All gold equivalent is calculated at a gold price of $800 (US) and a silver price of $15 per ounce, and does not consider variations which may exist in metallurgical recovery.

“The discovery of multiple, parallel, mineralized zones containing high grade mineralization in the newly discovered Hill Zone north of the Canyon Fault significantly increases the exploration potential on the northern portion of the Independence Property,” said CFO Dan Forbush. “The interpreted target zone for surface mineralization at the Independence is now more than one mile long and open to depth. The extent of mineralization is limited only by drilling to date and is open to the north along strike and to depth,” he also said.

Drilling by the company in the Hill Zone demonstrates oxide mineralization over a vertical range of more than 600 feet, in near surface targets up to 400 feet wide. Historic drilling by Noranda and Great Basin Gold indicate a total vertical range of the mineralized system in excess of 3,000 vertical feet. The geometry of the mineralized zones suggests this near surface oxidized mineralization amenable to mining by open pit methods and potentially recoverable by low cost heap leach processing.

For sampling, assaying and quality control procedures, please refer to previous press releases.

A detailed description of the exploration and production history of the Independence property is available on the Company’s web site 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. The Company also owns 150 sq. km. of mining concessions for gold, diamonds and base metals in Ghana, West Africa and plans to commence exploration activities this year.

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 proceeds from the recent private placement will allow the Company to proceed with Phase 1 drilling at its Independence Mine in Nevada or any shallow mining production later this year, the budget for the Phase 1 drilling program, 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,” and is proposed to be mined and loaded onto a cyanide heap leach pad, or any future financings that the Company may enter into.

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 2007 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact:

Contact:
Wayne Meyerson
Investor Relations
General Metals Corporation
wayne@gnmtlive.com
775.583.4636 office
775.830.6429 cell

Source: General Metals Corporation

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