INTERNATIONAL MILLENNIUM SIGNS LETTER OF
INTENT TO VEND INTERESTS IN KENORA ONTARIO
AREA PROPERTIES TO CANADIAN STAR MINERALS LTD
North
Vancouver, B.C. - International Millennium Mining Corp. ("IMMC" or the
"Company") (TSX-V: IMI) announces that it has signed a letter of
intent ("LOI") with Canadian Star Minerals Ltd. ("CSML")
of Toronto, Ontario, whereby CSML is entitled to acquire one hundred
percent (100%) interest in the High Lake Project and fifty-one percent
(51%) interest in the Electrum Lake Property, subject to a partially
re-purchasable two percent (2%) net smelter return royalty. Both
properties are situated near Electrum
Lake, northwest of Kenora Ontario.
Under terms of the LOI, CSML will acquire its interest in the High Lake
Property by making a one hundred thousand dollar ($100,000) cash payment
and by issuing two hundred thousand (200,000) shares to IMMC on closing of
the formal agreement. CSML will acquire its interest in the Electrum
Lake Property by expending $750,000 over a period of up to ten (10) years
at an average rate of not less than $75,000 per year and by then delivering
to IMMC, a further five hundred thousand (500,000) shares of CSML.
The properties are
contiguous and are located in the Indian Bay Map Area, in Kenora Mining Division. The Properties comprise
approximately 1,349
hectares.
About
International Millennium Mining Corp.
International
Millennium Mining Corp. is a mineral exploration and
development company engaged in the acquisition and exploration of polymetallic mineral properties in Canada and the Americas. To date, the
Company has acquired and is exploring mineral properties in British Columbia and Ontario,
Canada; Nevada, USA;
and Sonora State, Mexico.
Emerging mineral targets include silver, gold, cobalt, molybdenum, zinc,
lead, nickel, copper and platinum group metals. The Company's common
shares trade on the Frankfurt Exchange under the symbol: L9J and on the TSX
Venture Exchange under the symbol: IMI.
ON BEHALF OF THE BOARD
John A. Versfelt
John A. Versfelt
President and CEO
Further information about the Company can
be found on SEDAR (www.sedar.com) or by contacting:
* * * * * * *
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term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This news
release may contain forward-looking statements including but not limited to
comments regarding the timing and content of upcoming work programs,
geological interpretations, potential mineral recovery processes and other
business transactions timing. Forward-looking statements address future
events and conditions and therefore, involve inherent risks and
uncertainties. Actual results may differ materially from those currently
anticipated in such statements.
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