Private Placement Closed
North
Vancouver, BC: Further to International Millennium Mining Corp.'s
(TSX-V: IMI) (the "Company") announcement of July 19, 2011, the
Company has closed its private placement at $900,000 including: $850,000 of
non-flow-through units at $0.20 per unit and $50,000 of flow-through units at
$0.25 per unit. Each unit is comprised of one (1) non flow-through or
flow-through common share and one (1) non flow-through or one (1) flow-through,
non-transferable share purchase warrant, respectively. Each full warrant
entitles the holder to purchase an additional share in the capital stock of the
Company for a period of two (2) years from the date of issuance, at $0.30 per
share in the first year and $0.40 per share in the second year for non-flow
through warrants, and at $0.35 per share in the first year and $0.45 per share in
the second year for flow through warrants. Shares issued under the placement or
upon exercise of the warrants are subject to a four month hold period ending
November 30, 2011. The placement documents have been accepted for filing by the
TSX Venture Exchange.
The
Company will pay up to an 8 �% finder's fee and issue broker warrants up to 8
�% of the private placement units. Broker
warrants entitle the holder to acquire one ordinary share at $0.20 per share or
$0.25 per share for non flow-through and flow-though warrants, respectively.
The Company will use the proceeds of the
private placement for exploration work on the Company's Nivloc Mine, Nevada
property and its Hope Lake, Ontario property, as well as for working capital.
International Millennium Mining Corp. is a mineral exploration and development company
engaged in acquiring known small mine deposits 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 Ontario,
Canada; Nevada, USA; and Sonora State, Mexico. Emerging mineral targets include
silver, gold, cobalt, molybdenum, zinc, lead, 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