International Millennium Mining Corp.
Reports 2nd Quarter Results
North Vancouver, B.C. - International Millennium
Mining Corp. (the "Company") (TSX-V:IMI) reports its financial
statements and MD&A (the "Quarterly Report") for the 2nd
Quarter ended June 30, 2009 (BC Form 51-102F1). Pursuant to the
requirements of National Instrument 54-102, this news release provides a
summary of the information contained in the Quarterly Report.
Summary of 2nd
Quarter Ended
Cdn ($)
|
2nd Quarter Fiscal 2009
|
2nd Quarter Fiscal 2008
|
Year
to Date
Fiscal 2009
|
General and Administration Expenditures
|
$
84,889
|
$
106,765
|
$
149,083
|
Stock Based Compensation
|
$
-
|
$
4,000
|
$
-
|
Interest Income
|
$
311
|
$
5,190
|
$
1,151
|
Net Loss
|
$
(55,578)
|
$
(101,575)
|
$
(118,932)
|
Net Loss per share
|
$
(0.00)
|
$
(0.00)
|
$
(0.00)
|
|
|
|
|
|
June
30,
2009
|
December
31, 2008
|
|
|
|
|
|
Deferred Mineral Property Expenditures
|
$ 3,260,199
|
$ 3,106,807
|
|
Total Assets
|
3,494,544
|
3,590,231
|
|
Total Liabilities
|
362,863
|
316,618
|
|
Share Capital
|
10,313,737
|
10,257,737
|
|
Common Shares Outstanding
|
32,686,943
|
30,986,944
|
|
Fully Diluted Shares Outstanding
|
34,386,943
|
30,986,944
|
|
Summary Discussion
Given the significant
changes in the financial and metals
markets, as well as the
uncertainty in many
global economies, management of the Company (the "Management") has agreed to cut back fees and salaries, expenses
have been reduced and, other
than the Jason Property,
exploration programs have been put on hold.
For
full press release please
click here
ON BEHALF OF THE BOARD
John A. Versfelt
John A. Versfelt
President and CEO
Further
information about the Company can
be found on SEDAR
(www.sedar.com) or by contacting:
* * * * * * *
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.
|