MMTEC Inc V.MTC

Drill News Today -- re: Playter Moly Project

[innismor]

Breaking News MetalCORP; Drilling Intersects Molybdenum (Mo) Bearing Quartz Vein in All Six (6) Drill Holes on its Big Lake Property in Northern Ontario 10:32 EDT Thursday, September 27, 2007 THUNDER BAY, ON, Sept. 27 /CNW/ - MetalCORP Limited (MTC: TSXV) is pleased to announce that drilling has intersected the Molybdenum (Mo) bearing quartz vein in all six (6) holes on the Playter Moly Project. The project is located in Northern Ontario,Canada , approximately 20km southwest of the Hemlo gold deposit, on the western end of the Big Lake property. This initial drill program tested this large Mo bearing quartz vein down to the 200 and 275 metre levels with 6 drill holes. Previous drilling from the early 1970's had only tested down to the 90 metre level. Holes 1 & 2 (BL07-81 & 82) were drilled from the same setup but at angles of -50 degrees and -60 degrees respectively. Hole 1 intersected approximately 8.7 metres of molybdenum bearing quartz vein whereas hole 2 intersected approximately 8.2 metres. Holes 3 & 4 (BL07-83 & 84) were drilled from the same setup, but 175 metres east of holes 1 & 2, at angles of -50 degrees and -60 degrees respectively. Hole 3 intersected approximately 23.0 metres of molybdenum bearing quartz vein whereas hole 4 intersected approximately 15.4 metres. Holes 5 & 6 (BL07-85 & 86) were drilled from the same setup, but 225 metres east of holes 3 & 4, at angles of -50 degrees and -60 degrees respectively. Hole 5 intersected approximately 13.5 metres of molybdenum bearing quartz vein whereas hole 6 intersected approximately 8.0 metres. All intersections are core lengths of the Playter structural zone consisting mostly of quartz veining but with minor amounts of sheared host rock. A plan map and longitudinal section can be viewed at the Company websitewww.metalcorp.ca. Samples have been submitted for analysis to ALS Chemex Labs with assays pending. "We are very encouraged with this initial drill program on the Playter Moly Project, which shows considerable size and remains open in all directions," commentedAubrey Eveleigh , Vice President, Exploration and Chief Operating Officer. "These results represent the first phase of a more extensive drilling program planned for this significant new project. Given the strong market demand for molybdenum, the Playter Moly Project represents another important asset in MetalCORP's portfolio of properties." The Mo-Ag occurrence is hosted in a quartz vein up to 18.0 metres wide and has been traced by historical drilling for 500 metres. Surface grab samples of the vein have yielded up to 5.36% Mo and 112.0 g/t Ag and indicated by prospecting to be a total of 1200 metres in length, associated with a granodiorite porphyry. A total of 20 drill holes were completed by Citadel Mines and Galex Mines from 1969 - 1971 testing the vein down to the 90 metre level. All holes intersected the molybdenum bearing quartz vein with the best intersection being 0.26% Mo over 27.0 feet (8.2 metres). The molybdenum vein has not been drill tested since the early 70's and never had previous reporting of silver values. Recent grab sampling by MetalCORP has also shown this large quartz vein to contain silver (Ag) with a value up to 112.0 grams per tonne or 3.3 ounces per ton. A visit of the area by Ontario's Geological Survey (OGS) in 1988 described the occurrence as a 6.0 metre wide crack-seal quartz vein exposed in trenches for in excess of 400 metres. Two (2) grab samples consisting of quartz with seams of molybdenite, chalcopyrite, pyrite and galena mineralization taken by the OGS geologist were sent for analyses and yielded 5.36% Mo and 1.27% Mo respectively. (source: Resident Geologist, Ministry of Northern Development and Mines Assessment Files, Thunder Bay; The historical assays have not been verified and, as such, should not be relied upon). A map showing the location and photos of the Mo-Ag bearing quartz vein can be seen at the Company website atwww.metalcorp.ca. These large planar quartz vein systems are common in the Canadian Shield as evidenced by the numerous gold-bearing quartz vein systems in the established mining camps such as Red Lake, Timmins, Kirkland Lake and Val d'Or. They have been Canada's most important gold producers and tend to have a much greater length and depth than width. Molybdenum is used as an alloying agent in steel to enhance strength and resistance to wear and corrosion. It is also used in lubricants developed for high temperature and pressure applications. There are no known substitutes for molybdenum's unique properties which is used in most of the present day super-alloys. The price of molybdenum oxide has gone from$3/lb to over $30 /lb over the last couple of years due to the strong demand and short supply. Exploration on the Playter Moly Project is carried out under the supervision ofAubrey Eveleigh, P.Geo. (QP - NI43-101). MetalCORP samples are sent to ALS Chemex Labs for analysis by ICP-AES. MetalCORP is a mineral exploration company based in Thunder Bay, Ontario with base metal and gold projects in the Canadian Shield of Northern Ontario,Canada , one of the most prolific mineral districts in the world. The projects, with an area of more than 65,000 acres, include the Big Lake copper-zinc-silver-gold property, the North Rock copper-nickel-platinum property, the new Python nickel-copper-zinc property and the new Fearless zinc-copper-gold property, all of which are under active exploration. MetalCORP's four gold projects, with a claim area of more than 20,000 acres, include the Dorset, Pickle Lake, Black Bear and Keezhik Lake properties. By identifying early stage properties that may be enhanced by exploration, MetalCORP's experienced management team has assembled a great portfolio of projects. MetalCORP has 44,216,636 common shares outstanding and approximately $11,500,000 in cash and no debt. To find more about MetalCORP Limited (TSX-V: MTC), visit our website at www.metalcorp.ca. 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: Mr. Aubrey Eveleigh, P.Geo, COO & VP Exploration, Tel [phone] or Dan Courtney, Director of Investor Relations, [phone]