International Minerals Corporation

Published : July 28th, 2010

Reports New High-Grade Drill Results

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IMZ Reports New High-Grade Drill Results at Inmaculada Project

July 27, 2010, Scottsdale, Arizona � International Minerals Corporation (Toronto and Swiss stock exchanges � �IMZ� or the �Company�) reports new high-grade drill results from the Angela Vein at the 51%-owned Inmaculada gold-silver project, located approximately 25km southwest of IMZ�s 40%-owned Pallancata silver mine. The current drill campaign is designed to move inferred resources into the indicated and measured categories, as a requisite to completion of a feasibility study in 2011. 

Several high-grade intercepts (estimated true widths) are reported in the latest drill results, including 4.0 meters (�m�) at an average grade of 33.6 grams per tonne (�g/t�) gold and 789 g/t silver and 4.0m at an average grade of 24.2 g/t gold and 706 g/t silver. 

Assay results for all 34 core drill holes totaling 11,702 m (Inma 135-168) are summarized in Appendix 1 and shown on the long section in Appendix 2. Assay results for 47 core drill holes totaling 9.499m (Inma 88-134) were previously reported in a May 4, 2010 news release. 

Highlights of drill results (in sequential drill hole order) from the 34 drill holes, representing estimated true widths and average uncut grades, include: 

  • 2.1m at 17.4 g/t gold and 623 g/t silver (Inma-139)
  • 4.0m at 24.2 g/t gold and 706 g/t silver (Inma-143)
  • 6.0m at 15.5 g/t gold and 617 g/t silver (Inma-149)
  • 10.5m at 6.3 g/t gold and 232 g/t silver (Inma-155)
  • 10.0m at 7.7 g/t gold and 186 g/t silver (Inma-158)
  • 5.0m at 19.9 g/t gold and 285 g/t silver (Inma-132)
  • 4.0m at 33.6 g/t gold and 789 g/t silver (Inma-159)
  • 8.5m at 8.1 g/t gold and 178 g/t silver (Inma-160)
  • 4.0m at 5.1 g/t gold and 375 g/t silver (Inma-161)
  • 6.0m at 11.6 g/t gold and 505 g/t silver (Inma-162)
  • 3.2m at 19.9 g/t gold and 445 g/t silver (Inma-168) 

Mineralization in the Angela Vein currently extends over a strike length of more than 1,900 m with a vertical extent of up to 300m and remains open along strike to the northeast.  The Angela Vein is one of several significant vein systems recognized at the Inmaculada Project, most of which are relatively under-explored.   

In February 2010, an independent National Instrument (�NI�) 43-101 compliant mineral resource estimate on the Angela Vein (based at that time on approximately 25,000m of drilling in 84 core holes over 1,500m of mineralized strike length) reported both indicated and inferred resources for the Angela vein at a 3 g/t gold-equivalent cut-off grade (assuming a 60:1 silver to gold ratio) as follows: 

  • Indicated Resources: 1,238,000 Tonnes at 3.9 g/t gold and 122 g/t silver containing approximately 154,000 ounces of gold  and 4.9 million ounces of silver (100% project basis)
     
  • Inferred Resources: 4,686,000 Tonnes at 3.4 g/t gold and 147 g/t silver containing approximately 512,000 ounces of gold and  22.1 million ounces of silver (100% project basis) 

An updated mineral resource estimate for the Angela Vein (including the results for an additional 52 drill holes totaling 15,650m, up to and including drill hole Inma-139) will be announced by IMZ by the end of the third calendar quarter of 2010. A significant increase in tonnes and contained gold and silver ounces is expected. 

Feasibility Study Update 

Three core drill rigs have been operating on-site at Inmaculada for several months with the intention of expanding and upgrading the resource estimate to support completion of a feasibility study, including a mineral reserve estimate, by the end of 2011. The current infill drill program is expected to be completed by the end of August. 

Metallurgical testwork is ongoing. Preliminary results to date suggest that the Inmaculada mineralization could be treatable by conventional processing techniques with good metal recoveries. 

Property Status 

IMZ currently owns a 51% interest in Inmaculada (and is the project operator) with Hochschild Mining plc (�Hochschild�) owning the remaining 49% interest. 

IMZ can earn and acquire an additional 19% interest (total 70%) by completing (at its sole cost) a feasibility study by September 2013 and by issuing 200,000 common shares to Hochschild over a 5-year period, commencing February 2011. 

General 

Sample preparation and analytical work for the Inmaculada drilling program were carried out by SGS Mineral Services in Lima, Peru using industry-standard sampling practices and analytical methods for silver and gold.  As part of IMZ�s QA/QC protocol, standard samples and blanks were inserted into the sample processing stream at a rate of one per 10 samples. Duplicate and alternate laboratory check samples also form part of this sampling protocol. The technical disclosure including drill results in this news release were reviewed by IMZ�s Qualified Person, Exploration Manager, Mark Cannuli. 

The previous Angela Vein mineral resource estimate was classified as indicated and inferred in accordance with CIM guidelines, as required by NI 43-101, by FSS Canada�s Qualified Person R. Mohan Srivastava (P.Geo.). The estimate has an effective date of February 3, 2010. 

About International Minerals 

International Minerals 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. Production of approximately 10 million ounces of silver and 33,000 ounces of gold (on a 100% project basis) is estimated by IMZ in 2010. 

In addition to the Pallancata Mine and the Inmaculada Project, IMZ also holds a majority or 100% ownership interests in development stage gold projects in Nevada (Goldfield and Converse) and Ecuador (Rio Blanco and Gaby). IMZ also receives a 3% net smelter return (�NSR�) royalty from Barrick Gold�s Ruby Hill gold mine in Nevada, which produced approximately 100,000 gold ounces in 2009. 

IMZ is listed on the Toronto Stock Exchange (since 1994) and the Swiss Stock Exchange (since 2002). 

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:
Paul Durham, Vice President Corporate Relations
Tel: 1 (203) 883-8359
Cell: 1 (203) 940 2538

In Europe
Oliver Holzer, Marketing Consultant
+41 (0) 44 854 11 39 

Or email the Company at: 

IR@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 estimates of timing of resource estimate, feasibility studies and metal production.  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 ,delays in completing planned exploration programs and feasibility studies, 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.

International Minerals Corporation
7950 E. Acoma Drive, Suite 211
Scottsdale, AZ 85260
U.S.A.
Tel: (480) 483-9932 � Fax: (480) 483-9926

Data and Statistics for these countries : Ecuador | Peru | All
Gold and Silver Prices for these countries : Ecuador | Peru | All

International Minerals Corporation

PRODUCER
CODE : IMZ.TO
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Intl. Minerals is a producing company based in United states of america.

Intl. Minerals produces gold and silver in Peru, develops copper, gold and silver in Ecuador and in Peru, and holds various exploration projects in Ecuador.

Its main asset in production is PALLANCATA in Peru and its main assets in development are RIO BLANCO - ALEXANDRA NORTH, RIO BLANCO - SAN LUIS and GABY in Ecuador and INMACULADA in Peru.

Intl. Minerals is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 270.7 millions as of today (US$ 252.7 millions, € 183.7 millions).

Its stock quote reached its lowest recent point on June 01, 2001 at CA$ 0.82, and its highest recent level on April 29, 2011 at CA$ 8.00.

Intl. Minerals has 95 653 001 shares outstanding.

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Annual reports of International Minerals Corporation
2008 Annual report
Renewal Annual Information Form 2007
Nominations of International Minerals Corporation
4/8/2010Appointment of New VP
Financials of International Minerals Corporation
9/30/2013Reports Operating and Financial Results for the Fiscal Year ...
5/16/2013Reports Third Fiscal Quarter Ending March 31=2C 2013 Financi...
8/12/2010(Pallancata)Reports Strong Pallancata Mine Operating Results
11/17/2009(Pallancata)First Quarter Net Income of $1.2 Million; Net Equity Earning...
8/24/2009(Pallancata)IMZ Reports Strong Pallancata Operating Results & Initial US...
11/18/2008Sept. 30, 2008 Financial Results
5/20/2008 Realizes $4.12 Million ($0.04 per share) in Net Income for ...
Project news of International Minerals Corporation
7/17/2013s 2013 Cost Reduction Plans and Project Updates
6/25/2013Closes Sale of Rio Blanco Property in Ecuador
3/25/2013(Inmaculada)Announces Closing of $140 Million Loan Facility for Inmacula...
11/2/2012s Development of Goldfield Property
1/11/2012(Inmaculada)IMZ Announces Positive Feasibility Study at Inmaculada Gold-...
7/28/2010(Inmaculada)Reports New High-Grade Drill Results
5/5/2010(Inmaculada)New Drill Results
4/30/2010(Pallancata)Quarterly Production
3/26/2010(Pallancata)Reports Updates Reserve/Resource Estimates at Pallancata Sil...
2/24/2010(Pallancata)Record Production
2/4/2010(Inmaculada)Increased Resource Estimate at Inmaculada Project
11/12/2009(Pallancata)Record Quarterly Production at Pallancata Mine, Peru
7/16/2009(Pallancata)IMZ Update at Pallancata Mine, Peru and Gaby project, Ecuado...
5/23/2009(Pallancata)Got Gold? IMZ Reserves at 1M gold equiv oz. Investing in Gol...
5/15/2009(Pallancata)IMZ Announces 1st Quarter Production Results- Pallancata Min...
2/19/2009(Rio Blanco - San Luis)Updated Costs at Rio Blanco
2/17/2009(Pallancata)Record Production from Pallancata Mine, Peru
1/26/2009(Gaby)IMZ Announces Optimization Study Results-Gaby Project, Ecuad...
11/5/2008(Pallancata)Q3 Production Results for Pallancata Mine, Peru
10/2/2008(Pallancata) Reports Low Cash Costs at Pallancata Silver Mine, Peru
8/25/2008(Pallancata) Announces Major Increase in Reserves at Pallancata Mine
7/24/2008(Pallancata)Strong Production Results from Pallancata Mine
6/24/2008(Rio Blanco - Alexandra North)Reports High-Grade Gold Drill Results at Rio Blanco Project
Corporate news of International Minerals Corporation
9/19/2013Provides Gemfield Permitting Update and Earnings Guidance fo...
6/18/2013Announces Update of Feasibility Study at Goldfield=2C Nevada
5/2/2013Provides Earnings Guidance for Third Fiscal Quarter Ending M...
3/15/2013(Pallancata)s Reserve and Resource Estimates at Pallancata Silver Mine
2/14/2013Reports Second Fiscal Quarter Ending December 31, 2012 Finan...
1/30/2013(Pallancata)Reports Production Results From Pallancata Mine for Quarter ...
11/7/2012Provides Earnings Guidance for First Fiscal Quarter Ended Se...
7/17/2012Announces Positive Feasibility Study at Goldfield Gold Proje...
5/30/2012IMZ Reports Drill Results from Converse Project, Nevada
5/23/2012Announces Closing of Sale of Ruby Hill Royalty
5/15/2012Reports $6.8 Million in Pre-Tax Income for Third Fiscal Quar...
4/12/2012(Pallancata)IMZ Updates Reserve & Resource Estimates at Pallancata Mine,...
4/11/2012(Pallancata)s Reserve and Resource Estimates at Pallancata Silver Mine
3/20/2012Announces Metallurgical and Drill Results From Goldfield Pro...
2/15/2012IMZ Reports $12M in Pre-Tax Income for Quarter Ended Dec 31,...
2/14/2012Reports $12.0 Million in Pre-Tax Income for Second Fiscal Qu...
12/20/2011IMZ Announces Positive Preliminary Economic Assessment at Co...
12/15/2011IMZ Reports $15.2M in After-Tax Net Income for Quarter Ended...
11/29/2011Reports Drilling and Metallurgical Results From Converse Gol...
10/12/2011to Repurchase Shares
9/28/2011Reports Record Earnings of $58.4 Million Pre-Tax Net Income ...
8/24/2011Reports Increased Resource Estimate at Converse Gold Project...
8/18/2011on Rio Blanco Contract Negotiations With Ecuadorian Governme...
7/6/2011IMZ Reports Drill Results from Converse Project, Nevada
7/5/2011Reports Drill Results From Converse Project, Nevada, Includi...
7/1/2011IMZ Announces Expiry of Agreements with Chinese Company
6/17/2011IMZ Announces Drill Results from Goldfield Project, NV
5/17/2011IMZ Reports $12.9 Million in Pre-Tax Net Income for 3rd Fisc...
4/7/2011(Pallancata)IMZ Updates Reserve and Resource Estimates at Pallancata Sil...
2/25/2011(Inmaculada)IMZ Reports Increased Resources at Inmaculada Project
2/24/2011Reports Increased Resource Estimate at Inmaculada Gold-Silve...
2/15/2011IMZ Reports Record Net Income for Quarter Ended Dec 31, 2010
5/21/2010Commences Drilling at Goldfield, Nevada
5/18/2010US$3.3 Million Net Income for Third Fiscal Quarter
1/20/2010Drill Results for Recently Acquired Inmaculada Project
1/13/2010Completes Transaction to Acquire Ventura Gold
12/18/2009Ventura Shareholders Approve Arrangement Agreement
12/17/2009Resignation of VP
9/29/2009IMZ Year-End Financials Web Links
9/12/2009Webcasts from Denver Gold Forum & CEO Interview
8/20/2009IMZ Included in Swiss Performance Index of SIX
5/20/2009IMZ Reports Net Income of US$2.0 million for 3rd Quarter End...
2/20/2009Meet International Minerals' CEO Steve Kay at BMO Conference
2/18/2009Net Income $4.8M ($0.05 per share) for Fiscal 2Q
12/18/20082008 Review and 2009 Business Plans
9/30/2008 Reports Strong Year-End Balance Sheet
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