Metals Plus Income Corp T.MPI

News Release....

[mfarris]

For Immediate Release: July 17, 2001 Continued Success on the Brookshire Field Mira Properties Ltd. (CDNX – MPI) reports that further to the news release dated May 23, 2001, a number of successful developments have occurred since the Company acquired its working interest. On May 4, 2001, Mira Properties Ltd. (“Mira”) purchased a 1% interest and an option to acquire an additional 2% interest in a syndicate with assets consisting of 200 leases (611 drillable acres) in the Brookshire Field in Waller County, Texas. Mira intends to exercise the balance of its option within the next 30 days. The Brookshire Field is a prolific salt dome estimated to be 6,000 acres located in Waller County, 30 miles west of Houston, Texas. The wells drilled to date are relatively shallow (less than 4,500 ft deep) and thus far, small independents have been drilling very prolific wells in Miocene reservoirs perched on the crest of this well-known salt dome. The drilling and completion costs per well are approximately US$125,000 and usually take about a month to drill, complete, and if successful, begin production. The wells are capable of producing as much as 500 bopd from depths of less than 4,000 ft with as many as eight productive zones being present. Oil is not the sole attraction, a gas zone occurs at approximately 1,200 ft in most of the wells, some of which can produce as much as one million cubic feet of gas per day (mcfgpd). The syndicate that Mira has acquired an interest in has been very active with their drilling. They have had a high rate of individual well success (17 for 17) and plan on drilling anywhere between 150 – 200 more wells. The syndicate has been drilling 2 wells per month with a target of eventually drilling 4 wells per month. The following is a brief summary of the activities by the Syndicate to date: The Dachshund Leasehold The Syndicate has successfully drilled 11 wells on the Dachshund Leasehold. These wells are either producing oil and or gas, or are at various stages of being completed and brought on line. A 12th well is currently being drilled and the Syndicate plans to drill additional wells on this leasehold. The Nursery Leasehold The Syndicate has successfully drilled one well (Nursery #2) on the Nursery Leasehold. This well is currently producing gas. Additional targets have been identified and will be drilled at a later date. The Mitchell Leasehold The Syndicate has successfully drilled 2 wells on the Mitchell Leasehold. Tanks and surface equipment are being set in place and are awaiting power. The wells should be completed and producing gas imminently. The Sams Leasehold The Syndicate has successfully drilled one well (Sams #1) on the Sams Leasehold. This well, the Sams #1, a gas producer, is currently awaiting a completion rig. Other additional targets have been identified and will be drilled at a later date. The Weido Leasehold The Syndicate has just finished drilling a well (Weido #1) on the Weido Leasehold. This well, the Weido #1, is currently being logged and the results will be evaluated shortly. Other Interests: The Syndicate continues to be very active in leasing additional acreage in the Brookshire area. The Peggy Lynne Leasehold The Syndicate has an interest in the Peggy Lynne leasehold successfully drilled by another operator. The first well drilled on the leasehold (Peggy Lynne #1) has been deemed an oil and gas producer. Tanks and surface equipment have been set in place and production has begun. Here are the Syndicate’s 2001 production numbers: 2001 January February March April May OIL FIELDS Dachshund Production(Barrels)3,537.40 1,923.75 2,809.11 7,210.71 6,235.29 GAS FIELDS Dachshund Production (MCF) 7,832.00 4,933.00 7,936.00 6,273.00 4,556.00 Nursery Production (MCF) 4,102.00 446.00 0.00 3,743.00 232.00 For further information, please contact: Victory Corporate Consulting Inc. Suite 709, 700 West Pender Street Vancouver, B.C. V6C 1G8 Tel: [phone] Fax: [phone] Toll: 866-684-4743 On Behalf of the Board: Craig Walker, President The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.