Received by email:

File: mtc_NR12Sep14.pdf

                  [Type here]

                                                                             NEWS RELEASE
P 807 683 1731 F 807 683 1744 www.metalcorp.ca
490 Maureen Street, Thunder Bay, ON P7B 6T2
METALCORP LTD THUNDER BAY OFFICE



                                                         METALCORP SIGNS AGREEMENT TO SELL PICKLE LAKE CLAIMS TO PC GO
--->LD

                                                 THUNDER BAY, ONTARIO, CANADA (September 12, 2014) - MetalCorp Limited
---> ("MetalCorp")
                                                 (TSXV � MTC) is pleased to announce that it has entered into an agree
--->ment with PC Gold Inc. ("PC
                                                 Gold") for MetalCorp to sell to PC Gold twenty-eight (28) mining clai
--->ms (the "Claims") totalling
                                                 5,600 hectares located adjacent to PC Gold's Pickle Crow gold project
---> in the Patricia Mining
                                                 Division, Ontario.

                                                 Pursuant to the agreement, and subject to the prior approval of the T
--->SX Venture Exchange, as
                                                 consideration for the Claims, PC Gold has agreed to issue 6,000,000 c
--->ommon shares to MetalCorp
                                                 and to pay MetalCorp $65,000 in cash, payable $25,000 on the first an
--->niversary from closing,
                                                 $25,000 on the second anniversary from closing and $15,000 on the thi
--->rd anniversary from
                                                 closing.

                                                 PC Gold has also agreed to pay MetalCorp the amount of $1,000,000 upo
--->n the commencement
                                                 of any commercial production from the Claims, with commercial product
--->ion being deemed to
                                                 have occurred upon the first day on which aggregate production from t
--->he Claims is equal to or
                                                 greater than two thousand (2,000) troy ounces of gold. Such additiona
--->l consideration may be
                                                 paid in cash or, at the option of PC Gold, in common shares of PC Gol
--->d, valued by reference to
                                                 the market price of the common shares of PC Gold prevailing on the da
--->te on which PC Gold
                                                 becomes obligated to pay such additional consideration.

                                                 Certain of the Claims will be subject to a 2% net smelter royalty in 
--->favour of MetalCorp, one-half
                                                 of which may be purchased by PC Gold at any time for $2.0 million. Th
--->e balance of the Claims will
                                                 be subject to a 1% net smelter royalty in favour of MetalCorp, one-ha
--->lf of which may be purchased
                                                 by PC Gold at any time for $1.0 million. The net smelter royalty purc
--->hase consideration may be
                                                 paid in cash or, at the option of PC Gold, in common shares of PC Gol
--->d, valued by reference to
                                                 the market price of the common shares of PC Gold prevailing on the da
--->te on which PC Gold
                                                 becomes obligated to pay such consideration. The Claims subject to th
--->e 1% net smelter royalty
                                                 are also subject to an existing 2% net smelter royalty in favour of c
--->ertain third parties.

                                                 The transaction is anticipated to be completed by the end of Septembe
--->r. All common shares
                                                 issued by PC Gold in connection with the transaction will be subject 
--->to a four month hold period
                                                 from the date of issuance under applicable securities laws.

                                                 The transaction is subject to the approval of the TSX Venture Exchang
--->e.

                                                 MetalCorp is a mineral exploration company based in Thunder Bay, Onta
--->rio, with gold and base
                                                 metal projects in the Canadian Shield of Northern Ontario, Canada, on
--->e of the most prolific
                                                 mineral districts in the world. To find out more about MetalCorp visi
--->t its website at
                                                 www.metalcorp.ca.

                                                 For further information, please contact: Donald A. Sheldon, President
---> and Chief Executive
                                                 Officer, Phone: (416) 595-0147, or via email: info@metalcorp.ca

                                                 Except for statements of historical fact contained herein, informatio
--->n in this press release may
                                                 constitute "forward-looking information" within the meaning of Canadi
--->an securities laws. Other
 Page 2.


          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, MetalCorp expressly disclaims any intention or obligation to
          update publicly any forward-looking information, whether as a result of new information, future
          events or otherwise.

          Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
          policies of the TSX Venture Exchange) accepts responsibility for the adequacy, accuracy or contents
          of this news release.