VANCOUVER, British Columbia, November 22, 2019 -- International Millennium Mining Corp. (TSX-V: IMI) (the “Company” or “IMMC”) announces that it has filed on SEDAR a National Instrument (“NI”) 43-101 compliant technical report with an effective date of March 28, 2019, entitled “NI 43-101 Technical Report on the Silver Peak Project, Esmeralda County, Nevada, USA” prepared by Sears, Barry & Associates Limited, Sudbury, Ontario, Canada (the “Report”).
The Report updates the Company’s 2012 NI 43-101 compliant, independent Mineral Resource Estimate (the "2012 Estimate") (see IMMC’s August 16, 2012, press release), providing data from nine additional drill holes including three that extended the length of the Nivloc Structure reported by Sears, Hollenbeck and Heyl in 2012, by about 60 metres, and six holes that targeted untested areas within the original 400-meter long target area over an un-mined portion of the historic Nivloc Mine. Using the same general parameters as the 2012 Estimate (Sears et al, 2012) and a cutoff grade of 40 g/t (Ag equivalent), the updated Inferred Mineral Resource Estimate is 2,653,000 tonnes grading 96.85 g/t Ag and 0.67 g/t Au and containing approximately 8,262,000 oz of Ag and 57,000 oz of Au (the “Updated Estimate”).
The Report was prepared for the Company by Seymour M. Sears and Joan M. Barry, consulting Geologists based in Sudbury, Ontario. The Report is available under the IMMC profile on SEDAR at www.sedar.com and on the Company's website at www.immc.ca.
Trading of the Company’s common shares on the Exchange will remain halted until the reverse takeover transaction with Phoenix Capital Enterprises Ltd. (“Phoenix”), which was announced August 31, 2018, is accepted by, or satisfactory documentation has been filed with, the TSX Venture Exchange (the “Exchange”), pursuant to the policies of the Exchange.
Seymour M. Sears, P.Geo., a qualified person as defined by National Instrument 43-10 has reviewed and approved the scientific and technical content of this news release on behalf of the Company. Joan M. Barry, who is a qualified person as defined by National Instrument 43-101, has reviewed, verified and approved the contents of this news release relating to the Updated Estimate.
Information Regarding the Silver Peak Project
The Silver Peak Project consists of 211 lode mining claim units covering an area of 1,697.99 hectares (4,192.95 acres) in Nevada, USA. IMMC owns a 100% interest in these claims subject to a remaining US$50,000 payment on 25 claims. There are underlying royalties on some of these claims ranging from 1.5 to 2.5%, portions of which can be purchased outright by the company (see IMMC’s December 4, 2017, press release).
International Millennium Mining Corp. (TSX-V: IMI) common shares trade 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 Mr. John Versfelt, President & CEO of the Company at 604-527 8135.
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Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of IMMC should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that 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.