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International Minerals Announces Closing of $140 Million Loan Facility for Inmaculada Mine Construction
Published : March 25, 2013
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SCOTTSDALE, AZ--(Marketwire - March 25, 2013) - International Minerals Corporation (TSX: IMZ) (SWISS: IMZ) is pleased to announce that a $140 million term loan facility agreement with a consortium of Peruvian banks has been signed by Minera Suyamarca S.A.C. ("Suyamarca") to provide partial financing for the capital costs required to complete the development and construction of the Inmaculada gold-silver project located in Peru.

Suyamarca (60% Hochschild Mining plc ("Hochschild"), 40% IMZ) owns 100% of the Inmaculada project and the Pallancata silver mine, also in Peru. Hochschild is the operator of both properties.

The $140 million loan facility (the "Loan Facility") has a term of seven years with no principal payable for the first two years. The interest rate is based on the 3-month LIBOR rate plus 3.0%, with customary closing fees and charges. Interest will be payable quarterly during the term of the loan. The loan will be non-recourse to both Hochschild and IMZ.

The Loan Facility combined with Hochschild's initial $100 million contractually-required funding of the development and construction cost, means that IMZ's remaining capital contributions to complete its share of the $370 million Inmaculada project are estimated to be $56-$58 million, of which $8 million was contributed by IMZ in November, 2012. IMZ anticipates that funding of its remaining project capital commitment of $48-$50 million might commence in the final calendar quarter of 2013 (approximately $10-$12 million) with the balance funded in the first half of 2014. Such funding is expected to be provided from IMZ's working capital.

Suyamarca commenced development of the Inmaculada project in January 2012 and it is anticipated that commercial production should commence in the second half of 2014, assuming that all permits and capital equipment are received within the current timeline. Based on a feasibility study announced in January 2012, the Inmaculada mine would be a low-cost producer with an initial mine life in excess of six years (using only the current proven and probable reserves) and annual production (on a 100% basis) of approximately 124,000 ounces of gold and 4.2 million ounces of silver.

General

The technical disclosure in this news release has been reviewed by IMZ's Qualified Person, VP Corporate Development, Mr. 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.

About International Minerals

In addition to its 40% ownership of Inmaculada and Pallancata, IMZ also owns 100% of two advanced-stage gold projects in Nevada (Goldfield and Converse) and is in the process of selling its interests in its two gold assets in Ecuador (Rio Blanco 100% interest and Gaby approximately 60% interest).

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

All dollar amounts refer to United States Dollars.

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 amounts and timing of loan facilities, capital cost estimates, reserves and resources, and anticipated production results. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks of receipt and repayment of loan facilities, estimations of capital costs, estimations of mineral resources and reserves, variances between mineral reserves and actual mineral production, operating and timing risks and other risks and uncertainties detailed in the Company's Annual Information Form for the year ended June 30, 2012, 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.



For additional information, contact:

In North America:
Paul Durham
Vice President Corporate Relations
Tel: +1 203 883 8358

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

Renmark Financial Communications:
Christine Stewart
+1-416-644-2020

Robert Thaemitz
+1-514-939-3989

E-mail: Email Contact
Internet Site: http://www.intlminerals.com

International Minerals Corporation

PRODUCTEUR
CODE : IMZ.TO
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Intl. Minerals est une société de production minière basée aux Etats-Unis D'Amerique.

Intl. Minerals est productrice d'argent et d'or au Perou, en développement de projets d'argent, de cuivre et d'or au Perou et en Equateur, et détient divers projets d'exploration en Equateur.

Son principal projet en production est PALLANCATA au Perou et ses principaux projets en développement sont RIO BLANCO - ALEXANDRA NORTH, RIO BLANCO - SAN LUIS et GABY en Equateur et INMACULADA au Perou.

Intl. Minerals est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 270,7 millions CA$ (252,7 millions US$, 183,7 millions €).

La valeur de son action a atteint son plus bas niveau récent le 01 juin 2001 à 0,82 CA$, et son plus haut niveau récent le 29 avril 2011 à 8,00 CA$.

Intl. Minerals possède 95 653 001 actions en circulation.

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Rapports annuels de International Minerals Corporation
2008 Annual report
Renewal Annual Information Form 2007
Nominations de International Minerals Corporation
08/04/2010Appointment of New VP
Rapports Financiers de International Minerals Corporation
30/09/2013Reports Operating and Financial Results for the Fiscal Year ...
16/05/2013Reports Third Fiscal Quarter Ending March 31=2C 2013 Financi...
12/08/2010(Pallancata)Reports Strong Pallancata Mine Operating Results
17/11/2009(Pallancata)First Quarter Net Income of $1.2 Million; Net Equity Earning...
24/08/2009(Pallancata)IMZ Reports Strong Pallancata Operating Results & Initial US...
18/11/2008Sept. 30, 2008 Financial Results
20/05/2008 Realizes $4.12 Million ($0.04 per share) in Net Income for ...
Projets de International Minerals Corporation
17/07/2013s 2013 Cost Reduction Plans and Project Updates
25/06/2013Closes Sale of Rio Blanco Property in Ecuador
25/03/2013(Inmaculada)Announces Closing of $140 Million Loan Facility for Inmacula...
02/11/2012s Development of Goldfield Property
11/01/2012(Inmaculada)IMZ Announces Positive Feasibility Study at Inmaculada Gold-...
28/07/2010(Inmaculada)Reports New High-Grade Drill Results
05/05/2010(Inmaculada)New Drill Results
30/04/2010(Pallancata)Quarterly Production
26/03/2010(Pallancata)Reports Updates Reserve/Resource Estimates at Pallancata Sil...
24/02/2010(Pallancata)Record Production
04/02/2010(Inmaculada)Increased Resource Estimate at Inmaculada Project
12/11/2009(Pallancata)Record Quarterly Production at Pallancata Mine, Peru
16/07/2009(Pallancata)IMZ Update at Pallancata Mine, Peru and Gaby project, Ecuado...
23/05/2009(Pallancata)Got Gold? IMZ Reserves at 1M gold equiv oz. Investing in Gol...
15/05/2009(Pallancata)IMZ Announces 1st Quarter Production Results- Pallancata Min...
19/02/2009(Rio Blanco - San Luis)Updated Costs at Rio Blanco
17/02/2009(Pallancata)Record Production from Pallancata Mine, Peru
26/01/2009(Gaby)IMZ Announces Optimization Study Results-Gaby Project, Ecuad...
05/11/2008(Pallancata)Q3 Production Results for Pallancata Mine, Peru
02/10/2008(Pallancata) Reports Low Cash Costs at Pallancata Silver Mine, Peru
25/08/2008(Pallancata) Announces Major Increase in Reserves at Pallancata Mine
24/07/2008(Pallancata)Strong Production Results from Pallancata Mine
24/06/2008(Rio Blanco - Alexandra North)Reports High-Grade Gold Drill Results at Rio Blanco Project
Communiqués de Presse de International Minerals Corporation
19/09/2013Provides Gemfield Permitting Update and Earnings Guidance fo...
18/06/2013Announces Update of Feasibility Study at Goldfield=2C Nevada
02/05/2013Provides Earnings Guidance for Third Fiscal Quarter Ending M...
15/03/2013(Pallancata)s Reserve and Resource Estimates at Pallancata Silver Mine
14/02/2013Reports Second Fiscal Quarter Ending December 31, 2012 Finan...
30/01/2013(Pallancata)Reports Production Results From Pallancata Mine for Quarter ...
07/11/2012Provides Earnings Guidance for First Fiscal Quarter Ended Se...
17/07/2012Announces Positive Feasibility Study at Goldfield Gold Proje...
30/05/2012IMZ Reports Drill Results from Converse Project, Nevada
23/05/2012Announces Closing of Sale of Ruby Hill Royalty
15/05/2012Reports $6.8 Million in Pre-Tax Income for Third Fiscal Quar...
12/04/2012(Pallancata)IMZ Updates Reserve & Resource Estimates at Pallancata Mine,...
11/04/2012(Pallancata)s Reserve and Resource Estimates at Pallancata Silver Mine
20/03/2012Announces Metallurgical and Drill Results From Goldfield Pro...
15/02/2012IMZ Reports $12M in Pre-Tax Income for Quarter Ended Dec 31,...
14/02/2012Reports $12.0 Million in Pre-Tax Income for Second Fiscal Qu...
20/12/2011IMZ Announces Positive Preliminary Economic Assessment at Co...
15/12/2011IMZ Reports $15.2M in After-Tax Net Income for Quarter Ended...
29/11/2011Reports Drilling and Metallurgical Results From Converse Gol...
12/10/2011to Repurchase Shares
28/09/2011Reports Record Earnings of $58.4 Million Pre-Tax Net Income ...
24/08/2011Reports Increased Resource Estimate at Converse Gold Project...
18/08/2011on Rio Blanco Contract Negotiations With Ecuadorian Governme...
06/07/2011IMZ Reports Drill Results from Converse Project, Nevada
05/07/2011Reports Drill Results From Converse Project, Nevada, Includi...
01/07/2011IMZ Announces Expiry of Agreements with Chinese Company
17/06/2011IMZ Announces Drill Results from Goldfield Project, NV
17/05/2011IMZ Reports $12.9 Million in Pre-Tax Net Income for 3rd Fisc...
07/04/2011(Pallancata)IMZ Updates Reserve and Resource Estimates at Pallancata Sil...
25/02/2011(Inmaculada)IMZ Reports Increased Resources at Inmaculada Project
24/02/2011Reports Increased Resource Estimate at Inmaculada Gold-Silve...
15/02/2011IMZ Reports Record Net Income for Quarter Ended Dec 31, 2010
21/05/2010Commences Drilling at Goldfield, Nevada
18/05/2010US$3.3 Million Net Income for Third Fiscal Quarter
20/01/2010Drill Results for Recently Acquired Inmaculada Project
13/01/2010Completes Transaction to Acquire Ventura Gold
18/12/2009Ventura Shareholders Approve Arrangement Agreement
17/12/2009Resignation of VP
29/09/2009IMZ Year-End Financials Web Links
12/09/2009Webcasts from Denver Gold Forum & CEO Interview
20/08/2009IMZ Included in Swiss Performance Index of SIX
20/05/2009IMZ Reports Net Income of US$2.0 million for 3rd Quarter End...
20/02/2009Meet International Minerals' CEO Steve Kay at BMO Conference
18/02/2009Net Income $4.8M ($0.05 per share) for Fiscal 2Q
18/12/20082008 Review and 2009 Business Plans
30/09/2008 Reports Strong Year-End Balance Sheet
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