IMZ Reports Quarterly Production from Pallancata Mine
of 2.3 Million Ounces of Silver

Scottsdale, Arizona, April 29, 2010 � International Minerals Corporation (Toronto and Swiss stock exchanges: �IMZ�) reports silver production at its 40%-owned Pallancata Mine for IMZ�s third fiscal quarter ended March 31, 2010 (Q3 2010) of 2.33 million ounces (100% project basis). IMZ�s 40% share of the silver produced in the quarter is 933,425 ounces. 

Hochschild Mining plc (�Hochschild�) is a 60% owner and the operator of the Pallancata Mine. 

Table 1: Pallancata Mine Production Highlights (100% Project Basis; in US Dollars)

Table 2: Pallancata Mine Production Highlights (IMZ 40% Share)

Notes to Tables 1 and 2: 

1. The reported head grades for silver and gold are based on the overall metallurgical balance for the process plant.
2. The difference between �produced� metal ounces and �sold� metal ounces is a combination of the smelter metal payability factors and in-process concentrate. Quarterly silver production is shown rounded to hundreds of ounces.
3. Direct Site Costs per ounce silver and Total Cash Costs per ounce silver reflect a �mined ore inventory adjustment�. IMZ believes that this calculation more accurately matches costs with ounces of production. (Also see notes 4 and 5 below.)
4. Direct Site Costs per ounce silver comprise direct mining costs, mined ore inventory adjustment, toll processing costs and mine general and administrative costs (net of gold by-product credit).
5. Total Cash Costs, using the Gold Institute�s definition, comprise: mine operating costs, mined ore inventory adjustment, toll processing costs, mine general and administrative costs, Hochschild�s management fee, concentrate transportation and smelting costs, taxes and the government royalty (currently approximately 2% of gross revenue for Pallancata), net of gold by-product credit. 

For fiscal Q3 2010, direct on-site costs were $3.09 per ounce of silver produced (net of gold by-product credit) compared to $1.72 per ounce in the prior quarter, the latter period being an exceptionally low cost period compared to the full-year 2009 average of $2.85 per ounce (see Table 1). The increased cost for the current quarter is due primarily to (a) the lower average grade of material processed and (b) a plant operating period of 87 days in the current quarter compared to 95 days in the previous quarter (which ended December 31)  for year-end scheduling reasons. 

Total cash costs (as defined by the Gold Institute) for fiscal Q3 2010 were $5.83 per ounce of silver produced (net of gold by-product credit) compared to $4.69 per ounce in the prior quarter, again the latter being an exceptionally low cost quarter compared to the full-year 2009 average of $5.50 per ounce (see Table 1). 

Stephen Kay, President and CEO of IMZ, said, �Although the quarterly production for the first calendar quarter of 2010 is down slightly, IMZ still anticipates total metal production in calendar year 2010 on a 100% project basis to be approximately 10 million ounces of silver and 33,000 ounces of gold. Costs per ounce of silver (both direct and total), although higher this quarter, still represent less than an 8% increase over the full calendar year 2009 average costs�. 

IMZ uses an equity accounting basis to record its interest in the Pallancata Mine and will report financial results, (including income contribution from Pallancata Mine) for its fiscal Q3 2010 (which ended March 31) in a news release to be issued on or before May 17, 2010. 

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

All currency in this news release reflects US dollars. 

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:                                                                   In Europe:
Paul Durham, Vice President Corporate Relations        Oliver Holzer, Marketing Consultant
Tel: +1 203 940 2538                                                            +41 44 853 00 47 

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

Cautionary Statement:

The Gold Institute calculation of Total Cash Costs is a non-Canadian GAAP financial measure, which IMZ management believes is useful in measuring operational performance. 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, production estimates, inventory estimates and precious metal prices. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks of production shortfalls; risks of operating  cost overruns; risks of sustaining  capital cost increases; 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.