MetalCORP Announces Appointment of President
TORONTO, ONTARIO -- (Marketwire) -- 06/23/10 -- MetalCORP Limited (TSX VENTURE: MTC) is pleased to announce the appointment of Chris Dougherty, P. Eng., as President of MetalCORP. Mr Dougherty has more than 22 years of experience as a consulting engineer designing and managing the development and construction of underground and open-pit mining and related projects around the world.
'MetalCORP is extremely pleased to have Chris working with us as we prioritize and advance our exploration projects in northwestern Ontario,' commented Donald A. Sheldon, who has been re-appointed Chief Executive Officer. 'Chris' extensive experience in exploration, mine development and mining will be an invaluable resource to our company. We also thank Naomi Nemeth for her service to MetalCORP as President and CEO and wish her every possible success in her new position with Continental Gold. We are pleased that Naomi is continuing as a director of MetalCORP.'
As part of his compensation, Mr Dougherty has been granted options to purchase 600,000 common shares of MetalCORP at an exercise price of $0.11 per share. The options are exercisable for a maximum period of five (5) years subject to earlier termination 30 days after his agreement with the company ends or he ceases to be a service provider to the company.
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.
MetalCORP has 62,699,471 common shares outstanding and approximately $1,500,000 in cash and no long-term debt. To find out more about MetalCORP visit its website at www.metalcorp.ca.
Contacts:
MetalCORP Limited
Donald A. Sheldon
Chief Executive Officer
416-595-0147
dasheldon@metalcorp.ca