MetalCORP Updates Drilling on BIG LAKE High Grade Copper-Zinc-Silver-Gold-Cobalt Project



    THUNDER BAY, ON, April 11 /CNW/ - MetalCORP Limited (TSX-V:MTC) is
pleased to provide an update of the on-going drill program at its 100% owned
Big Lake project, located 10km southeast of Marathon or 10km southwest of the
Hemlo gold mines, Ontario.

    BL14 Copper (Cu) - Zinc (Zn) - Silver (Ag) - Gold (Au) - Cobalt (Co) Zone

    A systematic drill investigation has taken place over a swamp northeast
of the previously tested areas of the high grade BL14 Cu-Zn-Ag-Au-Co Zone
intersected and announced in the last few months. The purpose of the program
was to step-out further to define the Zone in that direction and to prepare
for a preliminary deposit inventory. A total of 17 holes (~4000 metres) have
been completed with greater than 1600 samples out for analysis at ALS Chemex
Labs. Drilling continues to intersect copper-zinc sulphide mineralization over
widths of 1.0 - 5.0 metres and has now been traced for 250 metres along strike
and to a depth of 250 metres, where it remains open.

    Reconnaissance Drill Program

    A second drill rig has been testing the numerous other airborne EM
conductors and geochemical targets in the area immediately east and west of
the BL 14 Zone. A total of 7 holes (~2500 metres) have been completed with
greater than 1100 samples sent for analysis at ALS Chemex Labs. One hole
located 400 metres west of the BL14 zone intersected the proper stratigraphic
horizon with strong alteration and stringers of chalcopyrite-sphalerite
mineralization. Another hole located 200 metres east of the BL14 zone also
intersected this stratigraphic horizon with strong alteration and chalcopyrite
stringers and veinlets. Under this recent drill program the Company has
identified the BL14 stratigraphic horizon, alteration and copper sulphide
mineralization to extend for a total of 850 metres in strike length up to this
point.
    The BL14 Cu-Zn-Ag-Au Zone displays characteristics of a high temperature
Archean Volcanic Hosted Massive Sulphide (VHMS) mineralizing system but with a
very high grade copper, silver and gold content. The well mineralized zone
consists of 20-80% stringered to semi-massive sulphides, with local sections
of massive chalcopyrite, pyrrhotite, sphalerite occurring within an altered
komatiitic basalt. This altered unit is composed of strongly brecciated
chlorite-biotite / phlogopite-talc-anthophyllite schist, often containing
fragments of siliceous sediment. The footwall alteration sequence consists of
a highly variable, often banded, schistose assemblage of chlorite,
biotite-phlogopite and anthophyllite with lesser amounts of talc, cordierite
and sillimanite. Recent mineralogical and petrographic work by Dr. Ruslan
Liferovich has concluded that the rich massive-to-semi massive copper-rich
sulphide ores represent the stringer zone of a VMS system. You can view the
Dr. Liferovich report at the MetalCORP website. The BL14 stratigraphy is
interpreted as an overturned and south facing (north dipping) sequence. The
thickest drill intersection to date was from hole 32 which yielded 7.0 metres
(23.0 feet) of high grade mineralization assaying 5.7% Cu, 1.8% Zn, 95.0 g/t
Ag and 1.0 g/t Au. The highest grade interval was from hole 24 which
intersected 4.0 metres (13.1 feet) of high grade mineralization assaying
7.5% Cu, 2.2% Zn, 138.0 g/t Ag and 9.2 g/t Au.
    A plan map and table showing previous holes drilled are available for
viewing on the Company website at www.metalcorp.ca.
    The Company remains very excited with the on-going success in expanding
this large mineralized system. Another 4000 metre drill program is expected to
start-up in early June to further test the depth extent of the BL14 Zone and
other airborne EM conductors and structures on the Big Lake Property. Several
high priority Copper-Nickel, Platinum Group Metal as well as our newly
discovered Volcanogenic Hosted Massive Sulphide targets remain to be tested by
drilling. Management will provide additional news on the sample analysis as
they become available from the lab in approximately 2-3 weeks.
    The Big Lake program is being carried out under the supervision of Allan
MacTavish, P.Geo. (QP - NI43-101). Core is split and sent to ALS Chemex Labs
for analysis by ICP-AES. MetalCORP routinely introduces standards and blanks
into the sample stream with check assays being carried out by SGS Minerals
Services.

    MetalCORP Limited is a mineral exploration company based in Thunder Bay,
Ontario with a focus on base metals in Northwestern Ontario. The Company has
44,091,636 common shares outstanding and approximately $14,000,000 in cash
with no debt.

    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.

    %SEDAR: 00002399E




For further information:

For further information: Mr. Aubrey Eveleigh, P.Geo, COO & VP
Exploration, Tel (807) 346-2760

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METALCORP LIMITED

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