June 27, 2012
Metalcorp Closes Sale to Barrick Gold of Three Mining Claims in its Hemlo East Property
THUNDER BAY, ONTARIO, CANADA (June 27, 2012) ‐ MetalCorp Limited (“MetalCorp”) (TSXV – MTC) is pleased to announce the closing of a sale to Barrick Gold Inc. (“Barrick”) of three unpatented mining claims in its Hemlo East Property near Marathon, Ontario (the “Purchased Assets”).
Under the terms of the agreement, MetalCorp has sold the Purchased Assets to Barrick for gross proceeds of $100,000. Additionally, MetalCorp has retained a 2% NSR Royalty on the Purchased Assets.
“We are pleased with the sale of the three mining claims to Barrick and look forward to further success in the coming year.” says Chris Dougherty, President of MetalCorp.
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. To find out more about MetalCorp visit its website at www.metalcorp.ca.
For further information, please contact: Chris Dougherty, P.Eng., President Phone: (807) 683â1731, or via email: info(at)metalcorp(dot)ca
Except for statements of historical fact contained herein, information in this press release may constitute "forwardâlooking information" within the meaning of Canadian securities laws. Other than statements of historical fact, all statements that involve various known and unknown risks, uncertainties and other factors are "forwardâlooking statements". There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this news release are cautioned not to place undue reliance on these "forwardâlooking statements". Except as otherwise required by applicable securities statutes or regulation, MetalCorp expressly disclaims any intention or obligation to update publicly any forwardâlooking information, whether as a result of new information, future events or otherwise.
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