MTC MetalCorp Limited

MetalCorp Limited ("MetalCorp" or the "Company") (TSX VENTURE:MTC) is pleased to
update shareholders on progress within the Company on its various efforts.


The Solomon Pillars property has been the primary focus of MetalCorp's efforts
since acquiring an option on the property during September, 2011. This very
exciting gold property is located in the Beardmore-Geraldton gold belt in
northwestern Ontario, where over 4 million ounces of gold was produced and
companies such as Premier Gold Mines Ltd. and Prodigy Gold Inc. are currently
very active.


Initial efforts completed by Metalcorp on the property during October-November
2011, included channel sampling which yielded results of 8.92 g/t gold (Au) over
4.9 meters and 11.52 g/t Au over 6.0 meters, confirming the gold mineralization
potential of the property (News Release dated November 23, 2011). Ongoing
efforts to date include ground-proofing reported gold occurrences and drill
casings on the property in preparation of modeling the Solomon Pillars gold
deposit and also drill-hole planning toward upgrading the historic resource
estimate to current NI 43-101 standards. This effort was complemented by a
preliminary structural geology examination of the property.


"Like many junior companies in the mining industry, MetalCorp has been adversely
impacted by the overall financial market turmoil. As a result, we are taking
measures to preserve our cash position while still committing to and completing
initial work on the Solomon Pillars property." says Chris Dougherty, President
of MetalCorp.


MetalCorp has secured an extension from Sage Gold Inc. on the completion of
Metalcorp's work commitment for 2012, extending the due date to December 31,
2012. This is being arranged at a cost of $25,000 in Metalcorp shares.


"It has been a very challenging year for juniors, but MetalCorp has an excellent
property portfolio with a tremendous amount of potential in historic mining
camps. We look forward to advancing our efforts and improving our shareholder
value" finishes 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.


The technical content of this news release relating to the Solomon Pillars
project channel sampling has been reviewed by Jim Garber, P.Geo., who is a
Professional Geologist. Jim supervised the sampling effort, and is a Qualified
Person in accordance with the Canadian regulatory requirements as set out in
NI43-101.


Except for statements of historical fact contained herein, information in this
press release may constitute "forward-looking information" within the meaning of
Canadian securities laws. Other than statements of historical fact, all
statements that involve various known and unknown risks, uncertainties and other
factors are "forward-looking statements". 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 NI 43-101 compliant and should not be relied upon.

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