April 29, 2009
MetalCorp Announces New Management Appointments
Toronto, Canada (April 29, 2009) - MetalCorp Limited (TSX-V: MTC) is pleased to announce the appointment of new, highly-qualified members to its management team. Beginning immediately, Ken Booth will assume the role of Vice President, Corporate Development and David Mallalieu will assume the role of Vice President, Exploration.
Mr. Booth has worked in the mining industry for over 20 years with a focus on exploration, brokerage and finance, investor relations and corporate management. Former employers include Kidd Creek Mines and Falconbridge, where he served as a geologist, BMO Nesbitt Burns and RBC Dominion Securities, where he served in Investment Banking - Mining, and Bema Gold and Aurcana Corporation, where he served in a senior management capacity. For the past 8 years, Mr. Booth has been providing management and investment consulting services to the mining sector, principally junior exploration companies operating in Mexico and Latin America. Mr Booth holds both an Honours Geology degree and an MBA.
Mr. Mallalieu was a highly-ranked precious metals analyst with BMO Nesbitt Burns and Scotia Capital for over 14 years. Prior to his tenure as a financial analyst, Mr. Mallalieu worked as a geologist for Placer Dome, Kidd Creek Mines and Falconbridge for eight years focused on VMS-style deposits in the Western Cordilleran and Archaean greenstone belts of Canada. For the past three years, Mr. Mallalieu has been provided research analysis to funds investing in the resource sector. Mr. Mallalieu has a B.Sc. Honours degree in Geology from Carleton University and an MBA from Queen's University.
As part of their compensation, each of the new appointees was granted options to purchase 100,000 common shares of MetalCorp at an exercise price of $0.135 per share, one-half of which vest immediately and the remaining half will vest after 4 months; the options have a maximum term of 5 years, subject to earlier termination 30 days after the later of termination of their agreement or ceasing to be a service provider to MetalCorp.
"The Board of Directors of MetalCorp is both pleased and honoured to have two members of management with such vast experience in the resource sector and long history of success," commented Donald Sheldon, CEO. "Ken will oversee the strategic aspects of growing MetalCorp's business and David will oversee the mineral exploration programs on the company's current projects. Both Ken and David are well-known and well-respected in the mining and exploration sector and we are confident that they will advance MetalCorp and its exploration projects through the next stage of growth. We welcome both to our team."
MetalCorp is a mineral exploration company based in Thunder Bay, Ontario with base metal and gold 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 65,000 acres, include the Big Lake copper-zinc-silver-gold property, the North Rock copper-nickel-platinum property, the new Python nickel-copper-zinc property and the new Fearless zinc-copper-gold property, all of which are under active exploration. MetalCorp's four gold projects, with a claim area of more than 20,000 acres, include the Dorset Joint Venture, Pickle Lake, Black Bear and Keezhik Lake properties.
MetalCorp has 49,106,636 common shares outstanding and approximately $1,750,000 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:
Donald A. Sheldon, President; CEO and CFO
T: 416 595-0147
© 2017 MetalCorp Inc.