MetalCORP Announces Completion of Pickle Lake Drilling and Discovery of Two New Gold and Copper Mineralized Zones

MetalCorp Limited ("MetalCorp" or the "Company")(TSX VENTURE:MTC) is pleased to
release the results of its drilling campaign at its 100% owned Pickle Lake
property.


This program was a nine-hole exploratory campaign focused on testing areas of
the North Tarp claim block previously unexplored by drilling. Drilling tested
prospective targets identified from recent geophysical and geochemical surveys
completed during the third quarter of 2010 (see press release November 30,
2010).


The drilling effort identified two new mineralized zones, the first a quart-vein
related gold occurrence near on the north east part of the property and the
second a copper occurrence on the west side of the property.


New Gold Discovery

The gold discovery, currently unnamed, was located in hole PL10-42 and consists
of multiple quartz veins that returned values of 4.75 g/t, 0.31 g/t, and 0.67
g/t, over widths of 0.6, 0.6, and 0.3 meters each respectively. Given the long
history of quartz-vein related gold in this area, this is an exciting discovery,
and a target for further exploration for the company.


New Copper Discovery

The copper discovery, also currently unnamed, was located in hole PL10-44, and
anomalous values were also returned from hole PL10-45. Copper values are as high
as 0.5% over 1 meter within a 3.55 meter section averaging 0.2%, but anomalous
values ranging from 0.02% to 0.5% extend over several broad sections within the
hole, including an 8.5 meter section averaging 0.12%, with 1 meter at 0.26%.
Similarly, PL10-45 returned strongly anomalous assays, ranging from 0.06% to
0.26% over significant widths. These intercepts were encountered at vertical
depths between 29 and 100 meters. Finally, hole PL10- 46 also yielded anomalous
copper grades, ranging from 0.03% to 0.18% over broad widths, in depths ranging
from 35 to 165 meters from surface. These three holes are nearly 500 meters
apart, covering a distance of approximately 1km, demonstrating that this is a
significant occurrence. (see the attached map).


"These two new zones are a significant discovery for MetalCorp and demonstrate
the strength and depth of the potential in the Pickle Lake camp", said Chris
Dougherty, President of MetalCorp.


"Discovering a very interesting copper occurrence is something we did not
expect. Significant copper mineralization is known to occur elsewhere in the
area, particularly at the past-producing Thierry Mine, and prior work in the
area made no mention of significant copper values. To intersect significant
copper values over widths of 3.6 to 8.5 meters, with assays up to 0.5% is very
positive and encouraging, particularly as drilling completed in this effort were
still at relatively shallow depths, and as the occurrence extends for a
kilometer north to south", concluded Dougherty.


The 3000 meter campaign at Pickle Lake was carried out during March and early
April of 2011 by Full Force Drilling. Assays were completed by Activation
Laboratories of Thunder Bay, Ontario.


In addition to MetalCorp's drilling results, PC Gold recently announced
discovery of a new gold mineralized zone that appears to dip onto MetalCorp's
property. MetalCorp is actively monitoring ongoing work on this PC Gold
discovery.


"Our focus going forward on the Pickle Lake property is threefold. First, we
will be working to complete our mapping effort in areas of the property which
have not been fully explored. Second, we will plan to follow up our new
discoveries through further fieldwork ahead of a new drilling campaign. Finally,
we continue to monitor the progress made by our friends at PC Gold, which appear
to extend onto our property. We envision many more positive developments to
come", stated Dougherty.


MetalCorp's exploration programs are carried out under the supervision of Jim
Garber, P. Geo., Manager of Exploration, who is the Qualified Person for the
information contained in this press release and who is a Qualified Person within
the meaning of National Instrument 43-101.


The full assays and drill results for this campaign will be posted on
MetalCorp's website, at www.metalcorp.ca, in the coming days.


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 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.


To view a map associated with this release, please visit the link below:

http://media3.marketwire.com/docs/mtcmap512.pdf
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