News Releases
| August 14, 2006 Retraction | |
| THUNDER BAY---14 August 2006 -- MetalCORP Limited (TSX-V:MTC) has been advised that the quoting of Gross Metal Values is not acceptable under Appendix 3F of the TSX Venture Exchange Policies. Accordingly, MetalCORP wishes to retract those values from its press release issued earlier today. Gross metal value does not factor in any capital costs associated with bringing a property into production, nor allow for adjustments due to recovery percentages, metallurgical issues (for example, dealing with undesirable minerals), the availability of infrastructure (for example, roads, electric power, rail lines, labour, mills etc.), mining and taxation laws, reclamation costs and other relevant factors. From an infrastructure perspective, MetalCORP's 100% owned Big Lake property is well located. It is 10 km southeast of Marathon, Ontario and 10 km southwest of the Hemlo gold mines. The BL14 Zone, which was the subject of the Company's latest press release, is located under and to the east of the Umbata Falls Road approximately 10 km south of the Trans-Canada highway (Hwy 17) and the CPR rail line which runs parallel to and just south of Highway 17. A Hydro One 115kV power transmission line runs north of and parallel to the highway and the rail line in that area. A new hydro-electric generating station at Umbata Falls is currently being constructed with a 23 km 115 kV transmission line to run along the Umbata Falls Road to connect the hydro-electric generating station with the Hydro One transmission line. MetalCORP Limited is a mineral exploration company based in Thunder Bay, Ontario with a focus on nickel, copper and gold in northwestern Ontario. The Company has 33,449,780 common shares outstanding and approximately $1,800,000 in cash and no debt. For further information contact: Mr. Aubrey Eveleigh, P.Geo, VP Exploration, Tel (807) 346-2760 or visit the Company's Website at www.metalcorp.ca. The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's forward-looking statements and expectations. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. | |