MTC MetalCorp Limited

MetalCORP Limited (TSX VENTURE:MTC) is pleased to announce the commencement of
the first phase of a deep drilling program on its 100% owned Hemlo East
property, immediately east-southeast along trend from Barrick Gold's Hemlo mine,
and approximately 35 km east of the town of Marathon in Northwestern Ontario.
The initial three holes, to a minimum depth of 1000m, will test the first of two
high priority targets identified in thorough data compilations done by
MetalCORP's technical team. The Company has planned an additional phase of
drilling to test the second target, Gouda Lake, which is farther to the
southeast, later in the spring. The giant Hemlo gold deposit, located 2km from
the Hemlo East claim boundary and still in production, hosts approximately 100
million tonnes @ 8.0 g/t Gold (Au) (representing approximately 23 million ounces
of gold).


"We are extremely eager to begin this first phase of exploration on the Hemlo
East property," commented Naomi Nemeth, CEO. "Our first target is immediately
adjacent to the three Hemlo mines, and is structurally and stratigraphically
along trend. This horizon is clearly traceable at surface, in anomalous
geochemical and geophysical results and in existing drill hole data."


Over the past six months, MetalCORP's geological team has completed a thorough
compilation of a multitude of geological, geochemical and geophysical surveys,
which had been undertaken on the property following the discovery of the Hemlo
deposit in the early 1980s. The compilation also incorporated the results of an
Aeroquest AeroTEM II airborne magnetic and electromagnetic survey undertaken in
late 2007 by MetalCORP. This airborne geophysics survey, in combination with the
results of previous multi-parameter surveys, was used to outline the current
drill targets. 


The initial target, the Upper Anomalous Zone (UAZ), will be tested in
combination with what is known as the Egg Lake Horizon, which lies
stratigraphically and/or structurally below the UAZ. The UAZ dips northerly at
moderate angles and has been traced at surface, outlined geophysically, and
intersected predictably in a considerable number of holes drilled by Lac
Minerals in the 1980s. The UAZ can be traced across a strike length of at least
2 km and to a depth of approximately 450 meters, where it remains open. The UAZ
is typically on the order of several meters or more thick, and is essentially a
white mica- and sulphide-bearing (pyrrhotite-pyrite) schist. Together with the
Egg Lake Horizon, the UAZ displays broad zones of anomalous geochemistry, and,
as demonstrated in the 1990s by research geologists Pan and Fleet, the rocks
commonly contain a distinctive and unusual mineralogy which shows marked
similarities to the gold mineralization at Hemlo. As a consequence, the rocks of
the UAZ are considered to be the along-strike equivalent of the ore zones at
Hemlo. Assay results of the UAZ in drill core by Lac yielded consistently
anomalous gold values, typically in the range of 0.4 to 0.7 g/t gold across
several meters or more, but with individual meter-scale samples ranging up to 5
g/t gold. 


Prior to MetalCORP's initial acquisition of parts of the Hemlo East property in
2007, and its final consolidation in late 2009, the property had been held
continuously by Lac Minerals since the discovery of the Hemlo deposit. During
that time, Lac, along with optionees Placer Dome and Teck, thoroughly tested
many near-surface targets, and drilled nearly 150 diamond drill holes on a
variety of targets. One of the areas tested was the Gouda Lake gold zone on the
southern part of the property, which hosts a modest non-compliant NI 43-101 gold
resource. As a consequence, there is a rich exploration database on the property
that is largely available in the public domain. 


Charles Greig, P. Geo., is the Qualified Person for the information contained in
this press release and is a Qualified Person within the meaning of National
Instrument 43-101. 


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 a
total area of more than 85,000 acres, include the Hemlo East property, the Big
Lake copper-zinc-silver-gold property, the North Rock copper-nickel-platinum
property, and the Dorset, Pickle Lake, Black Bear and Keezhik Lake gold
properties.


MetalCORP has 56,349,471 common shares outstanding and approximately $2,000,000
in cash and no long-term debt. To find out more about MetalCORP visit its
website at www.metalcorp.ca. 


Except for statements of historical fact contained herein, the information in
this press release may constitute "forward-looking information" within the
meaning of Canadian securities law. Other than statements of historical fact,
all statements are "Forward-Looking Statements" that involve such various known
and unknown risks, uncertainties and other factors. 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 press
release are cautioned not to place undue reliance on these "Forward-Looking
Statements". Except as otherwise required by applicable securities statutes or
regulation, the Company expressly disclaims any intent or obligation to update
publicly forward-looking information, whether as a result of new information,
future events or otherwise. While historical results mentioned in this press
release are not 43-101 compliant and should not be relied upon, they have been
filed in government offices with assessment reports.

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