NORTH VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 25, 2012) – International Millennium Mining Corp. (TSX VENTURE:IMI) (the “Company” or “IMMC”) is pleased to announce that First Mexican Gold Corp (“FMG”) has completed its 80% option earn-in on the Hilda/Guadalupe property in Sonora State, Mexico, from the Company’s wholly owned subsidiary, Minera Internacional Milenio S.A. de C.V., (MIMSA). The option agreement was subject to FMG spending a total of US$4 million dollars on the project.
Immediately subsequent to the completion of the Option Agreement both companies agreed, subject to TSX Venture Exchange acceptance, to enter into a Purchase and Sale Agreement with respect to the remaining 20% interest in the Hilda/Guadalupe property. The conditions of sale are the issuance of 4 million FMG shares and a 2% NSR to IMMC with 1% re-purchasable by FMG for US$1 million dollars. These 4 million shares will have a 9 month hold period and be subject to reasonable future trade restrictions as outlined in the Purchase and Sale Agreement.
The Hilda/Guadalupe property package has been the focus of much of FMG’s exploration to date in this area and comprises approximately 9,473 hectares including an optioned land package from Kootenay Gold Inc.
“The Company is pleased to have completed this sale to FMG and we wish the FMG team every success as they follow-up encouraging results to date in Mexico. IMMC, continues to focus on its Nivloc Mine project in west central Nevada, USA where the Company has drilled very encouraging intersections, including 200.8 feet @ 120 g/t Ag and 1.01 g/t Au and 196.0 feet @ 98.6 g/t Ag and 0.31 g/t Au” said John Versfelt, President and Chief Executive Officer of IMMC who went on to say “IMMC is now awaiting receipt of a NI 43-101 Resource Report on the Nivloc 2011 drill results.” See the Company’s news releases of December 21, November 28, November 8, and September 7, 2011 either on the Company’s website www.immc.ca or on SEDAR at www.sedar.com.
International Millennium Mining Corp. (TSX VENTURE:IMI) is a mineral exploration and development company engaged in acquiring known smaller mine deposits, such as its Nivloc, Nevada silver-gold mine project, in the Americas, with the goal of advancing the properties to the mining stage. Emerging targets include silver, gold, copper, zinc and lead. The Company’s common shares trade on the TSX Venture Exchange under the symbol: IMI and on the Frankfurt Exchange under the symbol: L9J.
ON BEHALF OF THE BOARD
John A. Versfelt, President and CEO
Further information about the Company can be found on SEDAR (www.sedar.com).
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes and other business transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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 or accuracy of this release.