MetalCorp Announces Plans to Drill at Pickle Lake

MetalCorp Limited ("MetalCorp" or the "Company") (TSX VENTURE:MTC) is pleased to
announce that it will commence drilling on its 100% owned Pickle Lake property
in late February.


The first phase of drilling will initially target an extensive coincident
geophysical and geochemical anomaly outlined in grid-based work late 2010.
During that work, an extensive multi-element, multi-sample, and multi-line
geochemical anomaly was found to coincide well with an IP chargeability high.
Geophysical crews are currently at work on surveying a further 27 line-kms of
extensions to the North Tarp grid to more fully outline the geophysical
expression of both the main anomaly, as well as several anomalies farther to the
east.


MetalCorp has also just recently completed staking a number of new claims at
Pickle Lake. They lie to the southwest of our current holdings and are
contiguous with them.


Pickle Lake has been an area of increasing activity as of late, including recent
new discoveries by PC Gold Inc. which border on MetalCorp's property.


"We are moving forward aggressively with this effort, and are very excited about
both the targets outlined during last year's surveys, and undertaking our first
drill campaign at the North Tarp area," said Chris Dougherty, President of
MetalCorp.


Work at the Gouda Lake Zone on the Hemlo East property is also continuing, but
planning for additional geophysical surveying, which will help in targeting the
northern continuation of the Gouda Lake zone, is taking longer than anticipated.
As a consequence, drilling on the property will begin later in the winter.


"The work at Gouda has been delayed by about six weeks, pending final planning
and start-up of the geophysical work. As the site is road-accessible year-round,
and can be drilled at any time, this is not a significant issue. We look forward
to the information derived from the survey, and continuing with Phase 2 drilling
in March," stated Chris 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.


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.