MTC MetalCorp Limited

MetalCORP Limited (TSX VENTURE:MTC) is pleased to provide an update on each of
its active exploration projects in Northwest Ontario - Pickle Lake, Hemlo East
and Big Lake (south east of the Hemlo gold area).


Pickle Lake (Au)

During January and February of this year, MetalCORP re-established and extended
pre-existing cut grids near the northern end of its Pickle Lake property - the
Tarp Lake area - in preparation for ground geophysical surveys including induced
polarization and magnetometer, which are now underway. Re-establishing the
grids, originally cut between the late 1980s and early 2000s, will save the
Company considerable time, effort and expense in providing access and control
for the geophysical work and for MMI (Mobile Metal Ion) soil geochemical surveys
to follow. It is anticipated that this combination of geophysical and
geochemical surveys, as yet untried on this part of the property, will assist in
targeting mineralization in this area, which is largely covered by thick
overburden.


In late Fall 2009, MetalCORP drilled seven holes in the Tarp Lake area of the
Pickle Lake property. The holes returned sub-economic but encouraging values of
gold, silver and base metals across significant widths, as did drilling by
previous operators (see News Release dated December 23, 2009). The
re-established grid is intended to further test this very significant
mineralizing system, which very limited drilling, very sparse outcrop, and
encouraging airborne geophysical parameters suggest extends northward. The
intent is to provide control in the area north of the area drilled in 2009 for
the more gold-rich pyrite-dominated disseminated styles of mineralization
encountered in that drill program. 


Other parts of the property, which the Company will focus on in a later
exploration phase, show good potential for shear zone hosted quartz-carbonate
vein gold deposits, and for iron-formation-hosted gold deposits similar to those
mined historically at the nearby Pickle-Crow and Central Patricia deposits.


Hemlo East (Au)

Drilling continues at MetalCORP's Hemlo East project (35 km south east of the
town of Marathon, Ontario, adjacent to the Hemlo gold mines) where the first of
three deep holes planned for the current phase of the exploration program is
underway. "We anticipate drilling to a depth of at least 1000 metres for each of
these three holes to test one of the highest priority targets on the property,"
commented Charles Greig, VP, Exploration. 


MetalCORP's Hemlo East property is immediately east-southeast along the
structural and stratigraphic trend from Barrick Gold's Hemlo mine. "It is clear
from the core in the upper part of the first hole, which was collared in the
Cedar Lake pluton, that the same sequence of stratified rocks which hosts the
Hemlo deposit dip northward beneath the plutonic rocks. Because the initial
targets, the Upper Anomalous Zone (UAZ) and the Egg Lake Horizon (see News
Release dated January 28, 2010), dip northerly at moderate angles and can be
traced across a considerable strike length (approximately 2 km) at surface and
to shallower depths (approximately 500 metres vertical), the first three holes
will be deeper (1000 metres to 1500 metres) and will be spaced widely (at least
500 metres apart) along that trend," commented Greig. 


The Company has planned an additional phase of work later this spring to test a
second high-priority gold target at Hemlo East, the Gouda Lake zone, which lies
farther to the southeast.


Big Lake (Cu-Zn-Ag-Au)

In late December 2009, MetalCORP began a follow-up drill program focused on its
100% owned Big Lake project, which is located approximately 25 km southeast of
the town of Marathon and 20 km southwest of the Hemlo gold deposit, in
northwestern Ontario. The drilling, completed in February 2010, was designed to
test the three highest priority targets among the 24 potential targets arising
from a largely geological and geophysical reevaluation of previously-obtained
data, which was completed in late 2009 by geophysical consulting firm Quantec
Geoscience. 


This mineralization zone, identified in the results of the BL-14 discovery hole
in 2007, returned 7.5% Copper, 2.2% Zinc, 138.0 g/t Silver and 9.2 g/t Gold over
4.0 metres from an interval of stringer-style and semi-massive sulphides. "Our
focus was on locating an extension to the known mineralization at the BL-14
mineralization zone, and/or discovery of a new, associated, mineralized zone
nearby," commented Charles Greig, VP, Exploration. "Because these first three
targets returned no significant results and, as our current focus is on the
Company's gold projects in the Hemlo and Pickle Lake areas, we have made the
decision to re-prioritize the Big Lake project and resume work on it when
logistics permit."


Other Projects

MetalCORP has several other properties in northwest Ontario for which the
existing data is being compiled and evaluated to determine project priority
and/or potential joint venture opportunities. MetalCORP's additional gold
properties include:


Dorset (Au), SE of Hemlo Gold Mines

The Dorset gold property is located approximately 70 kilometres southeast of the
Hemlo gold mines in the Mishibishu Greenstone Belt of Northwestern Ontario. The
property covers a 1.0 km long gold-bearing zone approximately 6.0 km north of
the Eagle River Mine of Wesdome Gold Mines. Trelawney Mining and Exploration
Inc. (Trelawney), which holds the majority interest in the property through a
joint venture, has drilled more than 80 holes targeting the Dorset gold zone. In
October 2007, Trelawney released a NI 43-101 resource estimate of 780,000 tonnes
grading 1.42 g/t in the Indicated category and 4.76 million tonnes grading 1.19
g/t in the Inferred category. Trelawney continues to be the operator in this
joint venture.


Black Bear (Au), Red Lake Area

The Black Bear Gold Property is situated approximately 20 km northeast of the
community of Red Lake in northwestern Ontario. This property covers a part of
the northeast extension of the East Bay Deformation Zone in the historic Red
Lake gold camp, which hosts a number of known gold occurrences including three
past producers, of which the Cochenour-Willans mine with 1.24 million ounces of
historical gold production is the most significant. The East Bay trend is also
host to a number of exciting exploration plays, including the F2 Zone (Phoenix
gold project) of Rubicon Minerals Corp., the GAZ Gold zone (East Bay property)
of Premier Gold Mines Ltd. and Goldcorp Inc., and the Sidace Lake property of
Planet Exploration Inc. and Goldcorp Inc. 


In 2005 and 2006, Goldcorp spent $1.4 million on Black Bear under an option
agreement which was terminated in 2006. Goldcorp's work included some drilling
and two new and widely separated gold veins were intersected in this very
prospective geological environment. The highest-grade intersection yielded 14.9
g/t Au over 0.3 m, while the second, located nearly 5 km northeast of the first,
yielded 1.73 g/t Au over 1.22 metres.


Because of the highly prospective location of the property, the Company has
plans to reinitiate systematic grid-based exploration on the property, and is
currently considering plans for infill Mobile Metal Ion (MMI) soil geochemical
and ground geophysical surveys.


Keezhik Lake (Au), E of Pickle Lake

The Keezhik Lake property is located approximately 100 km east-northeast of the
town of Pickle Lake, Ontario. During mid-2009, the Company completed assessment
work on part of the property. MetalCORP's geological team is currently compiling
all existing data for the property in order to fully evaluate its exploration
potential and to plan possible programs for 2010.


Each of MetalCORP's exploration programs is carried out under the supervision of
Charles Greig, P. Geo., who 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 $1,100,000
in cash and no long-term debt. To find out more about MetalCORP Limited 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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