IMZ Reports Increased Resource Estimate at Inmaculada Project

Scottsdale, Arizona, February 3, 2010 � International Minerals Corporation (�IMZ�) (Toronto (�TSX�) and Swiss (�SIX�) stock exchanges) reports an updated mineral resource estimate for the 51%-owned (Hochschild Mining 49%) Inmaculada gold-silver project comprising the following resources on a 100% project basis: 

• Indicated Resource: 154,000 ounces (�ozs�) gold and 4.9 million ozs silver (contained within 1.2 million tonnes (�mt�) at an average grade of 3.9 grams per tonne (�g/t�) gold and 122 g/t silver). 
• Inferred Resource: 512,000 ozs gold and 22.1 million ozs silver (contained within 4.7 mt at an average grade of 3.4 g/t gold and 147 g/t silver). 

This new resource estimate, which includes Indicated resources for the first time, represents a significant increase in both the confidence level of the resource estimate and the overall gold and silver content of the Angela Vein deposit from the previously-reported, independently-calculated, Inferred mineral resource estimate (see Ventura Gold Corp�s news release dated January 20, 2009) of 483,000 ozs gold and 16.6 million ozs silver (contained within 3.7 million tonnes at an average grade of 4.0 g/t gold and 139 g/t silver).

IMZ recently completed the acquisition of all of the outstanding common shares of Ventura, thereby acquiring Ventura�s interest in the Inmaculada project (See IMZ news release dated January 12, 2010).

 Table 1: Inmaculada Project, Angela Vein - Mineral Resource Estimate � February 3, 2010.

1. Resources are shown on a 100% project basis. IMZ owns a 51% interest and can earn a 70% interest by completing a feasibility study by September 2013 at its sole cost and issuing to Hochschild 200,000 IMZ shares.
2. Metal prices used are US$17/oz for silver and US$1,000/oz for gold.
3. An overall average bulk density of 2.51 tonnes per cubic metre has been used for the tonnage estimation.
4. Gold equivalent grade is calculated at a silver:gold ratio of 60:1, using metallurgical recoveries of 85% for gold and silver and metal prices stated in Note 2.
5. The resources are reported at a 3 g/t gold equivalent cut-off grade that corresponds to an assumed $70 per tonne cash operating cost.  This case is shown in bold text in the Table above.
6. The estimated mineral resources are not mineral reserves and do not have demonstrated economic viability.
7. Numbers have been rounded in all categories to reflect the precision of the estimates.
8. The mineral resources were estimated with Micromine software using ordinary kriging to estimate metal grades into blocks of 10m by 1m by 10m in size, outlier high grades were top-cut to 25 g/t for gold and 750 g/t for silver.

The Inmaculada mineral resource estimate has been classified in accordance with CIM guidelines by FSS Canada�s R. Mohan Srivastava (P.Geo) and the estimate has an effective date of February 3, 2010.  The mineral resource estimate is based on the results of 84 core drill holes for approximately 25,000 meters �(m�) of drilling, which have defined a strike length to the Angela Vein mineralization of over 1,500m (and which is still open to the northeast) and a vertical extent of over 300m.

Resource Estimation Methodology

The resource estimation was constrained using a 1 g/t gold equivalent wireframe to outline the mineralized zone. The wireframe was constructed from cross-sectional interpretation of the Angela Vein by IMZ geologists and excluded splays (or branches) from the main vein.  A search ellipse with a radius of 100m, sub-divided into octants, was then used to interpolate grades into the 10m by 1m by 10m blocks that were aligned with the strike of the Angela vein, using the Ordinary Kriging capability of Micromine software.  Grade factors were used to account for the identified relationship between density and grade and also to limit the impact of samples with low drill-core recoveries.

Resources were classified in the Indicated category for all blocks that met three criteria: 1) at least one sample within 40m (half the range of the variogram); 2) samples from at least two drill holes in four octants; and 3) the kriged core recovery is at least 90%.

Appointment of New Vice President

IMZ is also pleased to announce the appointment of Nick Appleyard as Vice President of Corporate Development.  In his previous long-standing position as IMZ's Technical Manager, and more recently as head of IMZ's Property Acquisitions Team, Nick has contributed greatly to the success of IMZ so far and we look forward to his continuing contributions to IMZ's success in the future.

About International Minerals

IMZ is a silver-gold producer, explorer and developer with silver-gold production from its 40%-owned Pallancata Mine, one of the top-10 primary silver mines in the world. IMZ estimates production (on a 100% project basis) from the Pallancata Mine for calendar year 2009 at over 8.0 million ounces of silver and 30,000 ounces of gold (40% of which are attributable to IMZ). Production (on a 100% project basis) of approximately 10 million ounces of silver and 35,000 ounces of gold is expected in calendar year 2010.

In addition to the Pallancata Mine and the Inmaculada Project, IMZ has other interests in exploration level projects in Peru and Nevada and development stage projects in Ecuador. IMZ is also in the process of acquiring Metallic Ventures Gold Inc, which, subject to certain conditions, is scheduled to close on February 26, 2010. This acquisition will result in IMZ acquiring two additional advanced exploration gold projects in Nevada and a production royalty from one of Barrick Gold�s mines, also in Nevada.

IMZ has been listed on the TSX since 1994 and the SIX since 2002.

The technical information reported in this news release was reviewed by IMZ�s Qualified Person, VP Corporate Development, Nick Appleyard.

Hochschild Mining plc does not accept any responsibility for the adequacy or inadequacy of the disclosure made in this news release and any such responsibility is hereby disclaimed in all respects.

For additional information, contact:

In North America: 
Terri Kasten, Corporate Affairs Manager  
Tel: +1-480 483 9932

In Europe:                      
Oliver Holzer, Marketing Consultant
+41 44 853 00 47

Or email us at: information@intlminerals.com
                                               
Internet Site: http://www.intlminerals.com      

Cautionary Statement:

Some of the statements contained in this release are �forward-looking statements� within the meaning of Canadian securities law requirements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding mineral resource estimates and of production and information on completion of a potential corporate transaction.  Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks in maintaining production and processing rates, risks of cost escalation, risks of estimating mineral resources and reserves, variances between mineral reserves and actual mineral production, risks of completing pending acquisitions and other risks and uncertainties detailed in the Company�s Renewal Annual Information Form for the year ended June 30, 2009, which is available at www.sedar.com under the Company�s name. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.