April 15, 2013

METALCORP DISCOVERS GRAPHITIC CARBON AT PICKLE LAKE GRADING UP TO 1.5% OVER 1.7 METRES

THUNDER BAY, ONTARIO, CANADA (April 15, 2013) - MetalCorp Limited ("MetalCorp" or the "Company") (TSXV – MTC) announces the results of its recent Pickle Lake exploration drilling program.

In February 2013, Metalcorp completed a 708m NQ2 drilling program in Connell Township at the Company’s Pickle Lake Property under deep muskeg. Targeting included untested EM and IP anomalies as well as previous published sampling and drilling results across structural trends north east of the historical Central Patricia mine site and west of the historical Pickle Crow mine site.

The first two holes, PLC-47 and PLC-48, each 212m in length, intersected significant widths of auriferous graphite in an intermediate volcanic tuff which explains the targeted geophysical anomaly. Additional unanticipated auriferous horizons intersected in intermediate volcanic flows indicate the need for further exploration of the un-sampled horizons in both of these holes.

The third hole, PLC-49, totalled 284m in length and intersected successions of mafic to felsic volcanic flows and tuffs. This hole was sampled in its entirety for prospective purposes.

Best results were 0.27 g/t Au (gold) over 12.5m including 0.51 g/t Au over 3.15m along with 0.9% Graphitic Carbon over 2.20m including 1.2% Graphitic Carbon over 1.05m from hole PLC-48. A table of best intersects of all holes is shown below.

BH #

From (m)

To (m)

Interval (m)

Au g/t

Carbon %

PLC-47

113.58

117.60

4.02

0.12

 

incl.

113.58

115.28

1.70

0.23

 
 

112.00

115.28

3.28

 

0.9

incl.

113.58

115.28

1.70

 

1.5

           

PLC-47

166.75

178.95

12.20

0.11

 

incl.

166.75

173.50

6.75

0.18

 
 

166.75

173.50

6.75

 

0.6

incl.

167.50

169.75

2.25

 

0.9

           

PLC-47

182.70

183.85

1.15

0.25

0.4

           

PLC-48

73.25

74.25

1.00

0.26

0.6

           

PLC-48

88.50

101.00

12.50

0.27

 

BH #

From (m)

To (m)

Interval (m)

Au g/t

Carbon %

incl.

95.50

98.65

3.15

0.51

 
 

96.45

98.65

2.20

 

0.9

incl.

96.45

97.50

1.05

 

1.2

           

PLC-48

118.35

124.50

6.15

0.31

 

incl.

120.00

123.00

3.00

0.61

 

incl.

120.00

121.50

1.50

1.18

 
           

PLC-48

130.00

139.00

9.00

0.12

 

incl.

130.00

134.50

4.50

0.16

 

incl.

133.00

134.50

1.50

0.39

 
           

PLC-49

12.50

14.00

1.50

0.23

 
           

PLC-49

79.00

80.00

1.00

0.20

 
           

PLC-49

143.45

149.50

6.05

0.11

 

incl.

143.45

146.60

3.15

0.18

 

incl.

145.90

146.60

0.70

0.64

 

The technical content of this news release relating to the Pickle Lake Project drill core sampling program has been reviewed by Scott Franko, P.Geo., who supervised all drilling and sampling, and is a Qualified Person within the meaning of Canadian regulatory requirements as set out in NI43-101. All samples were submitted with appropriate standards blanks and duplicate samples to an accredited laboratory, Accurassay, in Thunder Bay, Ontario.

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) 683-1731, or via email: info(at)metalcorp(dot)ca

Except for statements of historical fact contained herein, information in this press release may constitute "forward-looking 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 "forward-looking 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 "forward-looking statements". Except as otherwise required by applicable securities statutes or regulation, MetalCorp expressly disclaims any intention or obligation to update publicly any forward-looking information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy, accuracy or contents of this news release.