TORONTO,
ONTARIO--(Marketwire - Oct. 19, 2009) - MetalCORP Limited (TSX
VENTURE: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.
|