DRILLING BEGINS ON SIMON
MINE PROPERTY, NEVADA
$252,000 PRIVATE PLACEMENT ANNOUNCED
North Vancouver, BC: International Millennium Mining
Corp. (the "Company" or "IMMC") has begun the drilling
program on the Company's 100% owned Simon Mine Property located in the
Walker Lane Trend, near Mina, Nevada. Following the recommendations in the
June 11, 2009 Report of David Mark, P.Geo, IMMC has initiated a minimum
3,000 meter drill program to test certain primary coincident mobile metal
ion (MMI) geochemistry and induced polarization (IP) geophysics targets
developed from programs carried out by the Company in 2007 and 2008.
The first hole will be drilled S65�E, at map
coordinates 424140E and 4268735N, -80�, to test the depth
extension of the ore zone that was last mined at the 1050 foot level. These
workings underlie the main MMI anomaly - the Simon Mine anomaly - consisting
of highly anomalous values of lead, zinc and silver. This anomaly has also
been labeled anomaly 'A' and strikes west-south-west (WSW) along the
northern edge of the Luning limestone, a minimum length of 1,750 meters,
being open to the WSW. The Simon Mine workings occur along anomaly 'A', but
for only 550 meters, indicating that there is a minimum of 1,200 meters of
untested geochemical anomalies which may be underlain by lead-zinc-silver
mineralization, potentially of similar grade to that which was mined. In
addition, the Simon Mine anomaly extends a few hundred meters to the north
in the Simon Mine area suggesting the possible presence of unknown
lead-zinc-silver mineralization.
A second drill hole is planned from the same drill platform as hole # 1,
but will be drilled SW to test the main gold anomaly, reported as anomaly
'B' in the Company's news release dated December 9, 2009. Anomaly 'B', is
immediately north of the Simon Mine anomaly 'A'. Consequently, this second
drill hole will also test the Simon Mine anomaly 'A' at depth. Anomaly 'B'
has a minimum strike length of 1,000 meters from East to West and an
approximate width of 300 meters.
As the drill program progresses, IMMC will announce the locations and
targets of the next planned drill holes. Drill results will be published as
they become available.
The Simon Mine is a past lead, zinc, silver, gold and copper producer.
In addition, there are unsubstantiated reports that 50,000 to 100,000 tons
of ore, with unknown grade, remain within the mine; however, this cannot be
confirmed until the underground workings are dewatered.
David G. Mark P.Geo, a qualified person under NI 43-101, has read and
approved the contents of this news release with respect to Simon Mine
property.
Private Placement
The Company announces that it has arranged a new private placement of up to
$252,000 at $0.07 per unit. Each unit is comprised of one (1) common share
and one-half (1/2) non-transferable share purchase warrant, each full
warrant entitling the holder to purchase one additional common share in the
capital stock of the Company at $0.11 per share for a period of two (2)
years from the date of acceptance. The Company will pay an 8 �% finder's
fee and issue broker unit warrants up to 8 �% of the private placement
units. Broker unit warrants entitle the holder to acquire one broker unit
at $0.07 per unit, each unit consisting of one common share and one ordinary
share purchase warrant entitling the holder to purchase one additional
share at $0.11 per share. The private placement is subject to regulatory
acceptance.
Jason Property Drilling
The drilling program on IMMC's Jason Property near Harrison Lake, BC, which
was testing two self-potential (SP) anomalies, has been terminated after
two drill holes were completed. Neither hole intersected the target
sulphide mineralization and the assay values were insignificant. The
Company will be terminating the Jason Property option agreement and
returning the Jason Property to the underlying owner.
About International Millennium Mining Corp
International Millennium Mining Corp. is a mineral exploration and
development company engaged in acquiring known small mines world-wide and
in the exploration of polymetallic mineral properties in Canada and the
Americas. To date, the Company has acquired and is exploring mineral
properties in British Columbia and Ontario, Canada; Nevada, USA; and Sonora
State, Mexico. Emerging mineral targets include gold, silver, cobalt,
molybdenum, zinc, lead, nickel, copper and platinum group metals. 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
John A. Versfelt,
President & CEO
Further information about the Company can be found on SEDAR
(www.sedar.com) or by contacting Mr. Wayne Meredith: 604-569-2509 waynem@immc.ca
or Mr. John Versfelt, President & CEO of the Company at 604-984-9907.
* * * * * * *
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. 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.
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