MetalCORP Extends Exploration Program at Pickle Lake Gold Property, Northwestern Ontario

TORONTO, ONTARIO, Oct 29 (MARKET WIRE) --
MetalCORP Limited (TSX VENTURE: MTC) has extended its current exploration
program at Pickle Lake to further test the Tarp Lake Shear Zone in the
northern part of its 100%-owned Pickle Lake property. Six drill holes
have been completed in October, representing just over 2000m of drilling.
In previous work at the Tarp Lake Shear Zone in the mid-1990s by
Inmet/Minnova, values of up to 7.2 g/t Au over 4.6 metres and 1.4 g/t Au
over 36 metres were returned. The program is located beside an
all-weather road, approximately 15 km north of the past-producing Pickle
Crow Mine near Pickle Lake, Ontario.

The six holes drilled as part of the first exploration phase are testing
an Inmet/Minnova Induced Polarization (IP) geophysical anomaly. While
assay results are pending, initial findings suggest that the program has
extended the mineralized zone southward and to depth.

Initial Results from Current Drilling

Current drilling has encountered a strongly altered well-foliated
sequence of felsic and mafic metavolcanic rocks. All of the drill holes
show broad intervals (typically several tens of metres) of disseminated
sulphides, mainly pyrite, which in previous drilling correlated well with
the highest gold grades. Several of the most recent holes have
intersected more pyrrhotite-rich "stringer" style sulphides (up to 20-25%
total sulphides, based on visual assessment, with accessory sphalerite,
chalcopyrite and, more locally galena.). Other parts of the property show
good potential for shear zone hosted vein gold deposits, and for
iron-formation-hosted gold deposits similar to those mined historically
at the nearby Pickle-Crow deposit.

Next Steps

While MetalCORP's drill program for Pickle Lake has been completed for
the 2009 field season, MetalCORP is formulating plans for a winter
geophysical program which will follow rehabilitation of pre-existing
grids established by a number of exploration companies between the late
1980s and 2004. "A combination of effective geophysical surveys,
including Induced Polarization (IP) and Magnetometer work, along with a
thorough evaluation of previous work in light of MetalCORP's most recent
drilling, should lead to a much clearer understanding of the geology and
controls on the mineralization at the Pickle Lake property," commented
Naomi Nemeth, President and CEO. "This will allow us to generate a number
of intelligent, compelling drill targets to be tested in 2010."

"MetalCORP's field teams have been working in cooperation with the
Mishkeegogamang First Nation for the initial phase of the Pickle Lake
exploration program and look forward to continuing our successful
relationship as we enter the second phase," commented Ms. Nemeth.

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.
The projects, with a total area of more than 85,000 acres, include the
Hemlo East property, the Big Lake copper-zinc-silver-gold property, the
North Rock copper-nickel-platinum property, and the Dorset, Pickle Lake,
Black Bear and Keezhik Lake gold properties.

The Pickle Lake program is being carried out under the supervision of
Charles Greig, P.Geo. (QP - NI 43-101). Core will be split and shipped to
ALS-Chemex Labs in Thunder Bay for analysis. MetalCORP routinely
introduces standards and blanks into the sample stream.

MetalCORP has 49,106,636 common shares outstanding and approximately
$1,100,000 in cash and no long-term debt. To find out more about
MetalCORP visit its website at www.metalcorp.ca.

Except for statements of historical fact contained herein, the
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
press 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
intent or obligation to update publicly forward-looking information,
whether as a result of new information, future events or otherwise. While
historical results mentioned in this press release are not 43-101
compliant and should not be relied upon, they have been filed in
government offices with assessment reports.

Neither TSX Venture
Exchange nor its Regulation Services Provider accepts responsibility for
the adequacy or accuracy of this release.

Contacts:
MetalCORP Limited
Naomi Nemeth
President and CEO
416-903-0811
naomi.nemeth@metalcorp.ca

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