October 19, 2009
MetalCorp Announces Naomi Nemeth as New Chief Executive Officer
Donald Alexander Sheldon appointed to chairman of the board of directors
Toronto, Canada (October 19, 2009) - MetalCorp Limited (TSX-V:MTC) is pleased to announce the appointment of Naomi Nemeth as President and Chief Executive Officer to lead its management team effective immediately. She has been a director of MetalCorp since July 2007.
Ms. Nemeth has worked in the mining and mineral exploration industry for the past five years with a focus on investor relations and corporate management. She has held senior Investor Relations positions with Homeland Energy Group (coal, South Africa), African Copper PLC (copper, Botswana), Wolfden Resources (gold and base metal exploration, Canada), Sanatana Diamonds (Canada) and Desert Sun Mining (gold producer, Brazil). Prior to returning to the mining field in 2004, Ms Nemeth held senior investor relations and communications roles in the pharmaceutical (GSK, Biovail, MDS) and financial services (Manulife Financial, Clarica-Sunlife Financial) sectors. Ms Nemeth began her career as a field exploration geologist in the Yukon and northern Ontario following completion of an Honours BSc in Geology and Biology at Brock University and a Masters degree in Journalism from the University of Western Ontario
As part of her compensation, Ms. Nemeth was granted options to purchase 400,000 common shares of MetalCorp at an exercise price of $0.19 per share, one-half of which vest immediately and the remaining half will vest after four months; the options have a maximum term of five years, subject to earlier termination 30 days after the later of termination of their agreement or ceasing to be a service provider to MetalCorp. Other officers and directors were concurrently granted options on a total of 400,000 common shares on the same terms.
"The Board of Directors of MetalCorp is both pleased and honoured to have Naomi accept the role of leading MetalCorp's management. She has a vast experience in the resource sector and long history of success," commented Donald Alexander Sheldon, the former President and CEO, who was concurrently appointed as non-executive Chairman of the Board. "Naomi will oversee day-to-day management as well as the strategic aspects of growing MetalCorp's business and the financing of its mineral exploration projects. Naomi is well-known and well-respected, especially in investor relations, in the mining and exploration sector and we are confident that she will advance MetalCorp and its exploration projects through the next stage of growth."
MetalCorp is a mineral exploration company based in Thunder Bay, Ontario with gold and base metal projects in the Canadian Shield of Northern Ontario, Canada, one of the most prolific mineral districts in the world. The projects, with an area of more than 85,000 acres, include the new Hemlo East gold-nickel-copper-zinc property, the Big Lake copper-zinc-silver-gold property, the North Rock copper-nickel-platinum property, the Dorset Joint Venture, the Pickle Lake property, the Black Bear property and the Keezhik Lake property.
MetalCorp has 49,106,636 common shares outstanding and approximately $1,250,000 in cash and no long-term debt. To find out more about MetalCorp visit its website at www.metalcorp.ca.
For further information, please contact:
Naomi Nemeth, President and CEO
© 2018 MetalCorp Inc.