Linear Metals Corporation TSX: LRM

Linear Metals Extends Near Surface Molybdenum Mineralization on South Side of Main Zone at KM61 Project

TORONTO, ONTARIO--(Marketwire - Oct. 30, 2008) - Linear Metals Corporation (TSX:LRM) is pleased to announce that its delineation and in-fill drill program at KM61 in northwestern Ontario confirms that molybdenum mineralization comes to surface along the southern flank of the Main Zone, as it does throughout the rest of the Main Zone. Previous drilling along the south flank had only tested the mineralization at an average vertical depth of approximately 100 to 150 metres. Linear is also pleased to provide results from another deep hole (K-08-104) which has encountered a broad zone of mineralization at depth and preliminary results from the highly successful NE Recce program, which has discovered new molybdenum showings in three different zones along strike of the Main Zone.

Highlights from the most recent drilling on south side of the Main Zone include:

- K-08-108: 49.5 metres(i)(1) of 0.062% molybdenum, 0.08% copper and 2.4 grams per tonne silver starting at 24.5 metres;

- K-08-110: 31.46 metres(i)(1) of 0.095% molybdenum, 0.19% copper and 4.8 grams per tonne silver starting at 12.0 metres;

- K-08-111: 33.0 metres(i)(1) of 0.076% molybdenum, 0.11% copper and 2.0 grams per tonne silver starting at 9.0 metres; and,

- K-08-112: 47.71 metres of 0.064% molybdenum, 0.03% copper and 0.9 grams per tonne silver starting at 4.14 metres;

and from an additional deep hole:

- K-08-104: 130.9 metres(i)(1) of 0.063% molybdenum, 0.11% copper and 2.8 grams per tonne silver starting at 298.5 metres.

The expanded 2007-2008 drill program of 35,000 metres is complete with the final samples shipped to ALS Chemex on October 8th. Work on the block model has begun and Linear remains on target for completing a 43-101 compliant resource estimate before year end. One drill remains stored on site and will be available for testing new anomalies prior to year-end.

"With the results covered in this release" reports Matt Rees, Chief Geologist, "it appears the Main Zone has been delineated in all directions except at depth. At depth, the Main Zone is closed off to the west of K-07-29 and K-08-98, but is still open to the northeast where we are waiting for assay results from the last three deep drill holes. These holes could potentially extend the strike length of the "keel" of the deposit to as much as 550 metres, which is already positively indicated by the impressive molybdenum mineralization previously reported in deep holes K-08-99 and K-08-100." Rees adds, "While the potential to expand the Main Zone now appears limited, the potential for discovering new mineralized zones remains high. The NE Extension Zone has only been tested with a few drill holes, which initially seem to indicate a new molybdenum zone may be developing at depth. In addition, new trenches, located a kilometre and as much as two kilometres east of the Main Zone, are uncovering molybdenum-bearing quartz veins, with preliminary grab samples returning up to 0.63% molybdenum and 1.24 g/t gold. These are potential "en echelon" zones along the same structural trend as the Main Zone. There remains good potential for additional discoveries at KM61."

Composite assay results for the intervals of greater than 0.04% molybdenum in holes K-08-104, and K-08-108 to K-08-112, plus extensions of older holes K-05-12, K-07-24, and K-07-25 (which had originally been stopped in mineralization), are shown in Table 1 below. Please refer to Linear Metals' website at www.linearmetals.com for prior drill results and a drill hole location map.

Table 1. Drill Hole Composite Results


---------------------------------------------------------------------------
                                         Molyb-          Silver
                                         denum   Copper   grams/
DDH#         From       To   Metres(1)       %        %   tonne  Comments
---------------------------------------------------------------------------
K-08-104   231.00   258.00      27.00    0.040     0.09     4.2
---------------------------------------------------------------------------
 incl      241.50   253.50      12.00    0.067     0.11     5.6
---------------------------------------------------------------------------
           298.50   360.06      61.56    0.055     0.14     3.2
---------------------------------------------------------------------------
 incl      303.00   328.00      25.00    0.113     0.21     5.0
---------------------------------------------------------------------------
           375.67   445.00      69.33     0.07     0.08     1.9
---------------------------------------------------------------------------
 incl      375.67   399.15      23.48    0.104     0.09     3.0
---------------------------------------------------------------------------
           459.00   495.50      36.50    0.043     0.05     1.2
---------------------------------------------------------------------------
           505.30   639.62     134.32    0.040     0.10     2.5
---------------------------------------------------------------------------
 incl      507.00   533.00      26.00    0.074     0.11     3.2
---------------------------------------------------------------------------
 CT1       298.50   445.00     130.90    0.063     0.11     2.8
---------------------------------------------------------------------------
 CT2       231.00   639.69     328.71    0.049     0.10     2.5
---------------------------------------------------------------------------


---------------------------------------------------------------------------
K-08-108    21.33   190.13     168.80    0.044     0.08     2.1
---------------------------------------------------------------------------
 incl       24.50    74.00      49.50    0.062     0.08     2.4
---------------------------------------------------------------------------


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K-08-109    80.00   170.00      90.00    0.043     0.09     2.1
---------------------------------------------------------------------------
 incl      118.00   170.00      52.00    0.050     0.10     2.1
---------------------------------------------------------------------------


---------------------------------------------------------------------------
K-08-110     4.91   195.00     190.09    0.048     0.11     3.2
---------------------------------------------------------------------------
 incl       12.00    43.46      31.46    0.095     0.19     4.8
---------------------------------------------------------------------------


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K-08-111     2.16   122.03     119.87    0.052     0.09     1.8
---------------------------------------------------------------------------
 incl        9.00    42.00      33.00    0.076     0.11     2.0
---------------------------------------------------------------------------


---------------------------------------------------------------------------
K-08-112     4.14    51.85      47.71    0.064     0.03     0.9
---------------------------------------------------------------------------
 incl       23.00    43.50      20.50    0.108     0.05     1.3
---------------------------------------------------------------------------
            62.36   148.50      86.14    0.043     0.06     1.5
---------------------------------------------------------------------------
 incl       67.00    89.50      22.50    0.066     0.03     1.1
---------------------------------------------------------------------------
 CT          4.14   148.50     133.85    0.050     0.05     1.3
---------------------------------------------------------------------------


---------------------------------------------------------------------------
K-05-12    235.10   251.90      16.80     0.26     0.12     5.5  Uncut,
                                                                 previously
                                                                 reported
---------------------------------------------------------------------------
K-08-12A   370.00   374.00       4.00    0.054     0.06     2.2
---------------------------------------------------------------------------


---------------------------------------------------------------------------
K-07-24    257.80   342.70      84.90    0.045     0.10     2.9  Reported
                                                                 previously
---------------------------------------------------------------------------
K-08-24A   356.12   386.25      30.13    0.041     0.07     3.0
---------------------------------------------------------------------------
           407.41   447.46      40.05    0.042     0.08     2.3
---------------------------------------------------------------------------
              453      477         24    0.047     0.12    3.13
---------------------------------------------------------------------------


---------------------------------------------------------------------------
K-07-25    288.45   350.00      61.55    0.065     0.12     3.1  Reported
                                                                 previously
---------------------------------------------------------------------------
K-08-25A      354   374.82      20.82    0.041     0.08     1.7
---------------------------------------------------------------------------
           387.25   436.67      49.42    0.053     0.08    2.51
---------------------------------------------------------------------------
 incl       410.5   430.25      19.75    0.091     0.08    2.40
---------------------------------------------------------------------------


Note 1: Intersections in the table above are based on core length, but with
        holes drilled at -45 degrees across the dip of the mineralized
        zone, the intersection widths are thought to be approximately 80%
        of true widths. Average sample length is 1.5 metres. All molybdenum
        values greater than 0.5% reported in composites are cut to 0.5%
        molybdenum. Uncut values are noted for reference purposes only.
Note 2: Where two or more composites are shown for a hole, gaps in the
        composite values are occupied by lower grade mineralization of 0.01
        to 0.04%, or more often by post-mineral dykes. Post-mineral dykes
        or low grade zones of less than 5.0 metres width are included in
        the composite calculations. Post-mineral dykes or low grade zones
        of greater than 5.0 metres width are deemed the end of a
        mineralized interval.
Note 3: "CT" equals cumulative total, the weighted average of all
        composites with the width of post-mineralization, waste-rock dykes
        or low grade zones greater than five metres in width removed.

Extending the Main Zone to the South

Holes K-08-108 through K-08-111 make up a southern fence of holes spaced 100 metres apart (and sequenced from west to east) and offset 100 metres to the southeast from previous drill holes. Hole K-08-112 was not part of this southern fence but was drilled on the south side of the Main Zone on a section 400 metres to the east of K-08-111. All of these southeast directed -45 degrees holes show long 100 to 190 metre long intercepts of 0.04% to 0.05% molybdenum, centred on the shorter higher grade intercepts given in the highlights above. These holes will permit modeling to extend the mineralized zone to the south and more importantly to surface along the south side of the Main Zone.

Main Zone - Deep Drilling

Four additional deep holes, K-08-104, 105, 106 and 107, along with extensions to 2007 drill holes K-07-24 and 25 have been completed to fill in the large gaps between holes K-08-98, 99, and 100 reported previously (September 24, 2008 release). The extensions to holes K-07-24 and 25 show mineralization grades dropping at depth from east to west, as the holes extend beneath the NE plunge of the zone. Hole K-07-25 is located 100 metres to the east of hole K-07-24 and had a substantial interval of 49.42 metres of 0.053% molybdenum within the newly drilled bottom of the hole (includes a 19.75 metre interval of 0.091% molybdenum). In comparison, neither the upper 350 metres of hole K-07-24, drilled in 2007, or the additional 150 metres drilled as an extension in September produced a significant interval above 0.05% molybdenum.

Hole K-08-104, located 90 metres east of hole K-07-25 and halfway between deep holes K-08-98 and K-08-99, had intercepts cumulating 130.9 metres of 0.063% molybdenum, 0.11% copper and 2.8 g/t silver, within a broader CT of 328.71 metres of 0.049% molybdenum. Within this broad zone, there are also two intervals of approximately 25 metres exceeding 0.10% molybdenum. These results are superior to results from holes immediately to the west (K-07-25 and K-08-98) but not as good as in the next deep hole to the east (K-08-99 with a CT of 329 metres of 0.067% molybdenum). Pending results from hole K-08-105, located 100 metres east of K-08-99, it appears that the Main Zone has a deep "keel" of mineralization that extends for a minimum of 350 metres and potentially to as much as 550 metres, pending results of K-08-106 and 107, again likely reflecting the steep to moderate NE plunge of the zone.

Trenching Exposes New Molybdenum Mineralization NE of the Main Zone

The follow-up trenching program on the three soil anomalies detected during the NE Recce program, T1 to T3 (previously reported on September 24th), has encountered significant molybdenum mineralization in bedrock at each anomaly.

At the T1 soil anomaly, located 750 metres east of the nearest drill hole, but to the north of the T2 anomaly (appears to be on a parallel structure), the mafic volcanics are intruded by a large feldspar porphyry intrusion which hosts an intense, sheeted quartz vein system that carries molybdenum-pyrite mineralization over at least a 30 metre width (Fox Zone, open). Several larger molybdenum-bearing quartz veins (up to 1.5 metres wide) occur in the volcanics flanking the porphyry. Initial grab assays are pending.

Trenching has also uncovered mafic volcanic rocks cut by porphyry dikes and molybdenum-chalcopyrite-pyrite bearing quartz veins (Dam Zone) at the T2 soil anomaly, which is located approximately 1100 metres east of the nearest drill hole. Preliminary grab samples have returned up to 0.63% molybdenum and 0.15 g/t gold.

Trenching on the T3 soil anomaly, located approximately two kilometres east of the nearest drill hole, has also encountered mafic volcanic rocks cut by narrow (less than 1.0 m) porphyry dikes and molybdenum-chalcopyrite bearing quartz veins (Galley Zone), returning preliminary grabs up to 0.12% molybdenum and 1.24 g/t gold.

Although at a very early stage, the new mineralization encountered so far is significant in showing that molybdenum is present in multiple locations on the KM61 property. The total area over which molybdenum has now been found, including the original Main Zone, is over four kilometres along strike, and nearly one kilometre in width, indicating that the KM61 property covers a very special geologic situation that has promoted the deposition of large amounts of molybdenum.

The technical information in this press release was prepared under the supervision of Matt Rees, P.Geo., Chief Geologist, a qualified person as defined by National Instrument 43-101. Assaying of samples during the 2007-2008 Phase I and Phase II programs is being performed by ALS Chemex in Vancouver, British Columbia. Linear has a detailed QA/QC program in place involving the regular submittal of blanks, duplicates and external reference standards with the core samples.

Completion of a 43-101 compliant resource estimate on Linear's KM61 project will complement the initial 43-101 compliant resource estimate on its Cobre Grande project completed in April 2008 and outlining 49.8 million tonnes at an average grade of 0.92% copper-equivalent. For further details on Linear Metals Corporation and its projects please visit the Company's website at www.linearmetals.com or contact investor relations at (902) 482-1240, or within North America at 1-866-376-7683.

Brian MacEachen, President & CEO

Forward-Looking Information:

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, continuity of mineralization, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The likelihood of future mining at KM61 is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for pits and processing facilities as well as receipt of significant additional financing to fund these objectives as well as funding mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at KM61 and there is no assurance that the mineralization at KM61 will ever be classified as ore. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.