MTC MetalCorp Limited

MetalCorp Limited ("MetalCorp" or the "Company") (TSX VENTURE:MTC) is pleased to
announce that the Company is moving ahead with plans to re-establish a resource
at Gouda Lake gold zone on the Company's Hemlo East property. MetalCorp is also
pleased to announce that geophysical and geochemical survey work at the Black
Bear property near Red Lake, Ontario, has been completed, and that the Company
plans to drill several precious metals targets on the property.


MetalCorp's resource definition program at its 100%-owned Gouda Lake Property
near Hemlo, Ontario, is aimed at an identified mineralized zone upon which an
in-house resource estimate was calculated in the early 1990's (that resource
estimate pre-dated NI 43-101 and, accordingly, is non-compliant with the
requirements of NI 43-101; it therefore cannot be relied upon). MetalCorp, in
keeping with recent changes in its corporate strategy to include development
efforts, has completed an internal review of the Gouda Lake resource which
suggests that it may be viable to mine.


In order to move the Gouda Lake project forward, MetalCorp has completed a
detailed geophysical survey of the area, and intends to move forward with a
drill campaign which is scheduled to start in late September or early October
2010. The intent of the program is to begin the process of bringing the Gouda
Lake resource up to current regulatory standards.


"Gouda Lake represents MetalCorp's first potential development project. If we
are successful in defining a deposit and confirming or improving on its size and
grade as previously estimated, we may be able to move it into production in as
little as 18 months from a production decision, based on our current concept",
said Chris Dougherty, MetalCorp's President.


The focus of the drill campaign at Gouda Lake will be to develop the data to
allow a proper 43-101 compliant resource estimate to be completed. This will be
followed by a pre-feasibility study, and with that in hand, MetalCorp would be
in a position to make a production decision.


Chris Dougherty sees this as a major development for MetalCorp: "If the resource
is confirmed, this will be a watershed event for the company, and it will allow
us to not only develop an economic deposit, but also graduate MetalCorp from an
explorer to a producer," he said.


On the Company's 100%-owned Black Bear gold property, good progress has been
made and a drilling campaign is now planned. The property, which lies 20 km
Northeast of Red Lake in northwestern Ontario, covers a key part of the East Bay
deformation zone in the historic Red Lake gold camp. The East Bay zone hosts
three past-producing mines and a number of exciting exploration projects,
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.


"We are very excited about the information returned during the recently-
completed work on our Red Lake property. The combined Mag, IP and MMI surveys
have provided some excellent indications of potential mineralization, and we are
looking forward to drilling at our Black Bear property", said Chris Dougherty.


The Company is moving ahead with planning and logistics to support the drilling,
which will begin after freeze-up in December or January.


Finally, MetalCorp wishes to announce further progress in its efforts to change
strategic direction from pure exploration to exploration and development.
Metalcorp has completed a number of internal operational changes, which include:




--  securing a new office and working facility in Thunder Bay, Ontario, at
    659 Maureen Street. The new facility provides MetalCorp with a new
    corporate headquarters and a base of operations from which to coordinate
    and direct its various projects, and to store and analyze drill core
    returned from the field. 
    
--  a change to the corporate logo and identity. The new corporate logo is a
    reflection of MetalCorp's changing focus and the represents a
    reinvigoration of the Company's efforts. These changes will include a
    completely revamped website, scheduled to be unveiled in October. It
    will be designed to provide shareholders and the investment community
    with a much better interface for keeping up to date with the Company's
    efforts, and for keeping in touch with its management team. 
    



"Progress over the last two months has been significant for the Company, both in
terms of its corporate infrastructure and in advancing its projects toward the
goals of identifying economic deposits and pursuing potential development
efforts. It has been a very busy time for MetalCorp, and the next several months
will see many exciting developments", summarized Dougherty.


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.


To find out more about MetalCorp visit its website at www.metalcorp.ca.

Except for statements of historical fact contained herein, 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 news
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 intention or obligation to
update publicly any forward-looking information, whether as a result of new
information, future events or otherwise. Historical results mentioned in this
press release are not 43-101 compliant and should not be relied upon.

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