IMC International Mining Corp. Provides Corporate Update
IMC International Mining Corp. Provides Corporate Update
January 24, 2019
Vancouver, BC – International Mining Corp (CSE: IMCX ) ( OTC:IMIMF) (the “ Company” or “ IMC”), is
pleased to provide an update with its respect its 100% owned Bullard Pass property located in west-central
Arizona within the Pierce Mining District in Yavapai County. The property is comprised of 171 unpatented
federal lode claims totaling 3,420 acres with a regional setting typical of detachment fault gold deposits
and has geological, mining and metallurgical similarities to the Mesquite Mine in California (the “ IMC
Claims”).
In the fall of 2019, IMC completed a Mobil Metal Ions (MMI) soil-sampling program that covered a portion
of the previously sampled enzyme leach grids covering a portion of the claims. The purpose of this program
was to compare soil-sampling methods of the Quaternary surficial deposits to help locate potential ‘blind’
deposits. The Company has engaged Kaaterskill Exploration (“ Kaaterskill”) to interpret the results of the
MMI program and to compare them to previous soil geochemical analyses to determine correlation,
potential zoning, source areas for mineralizing fluids, and post-mineralized structures if any.
The Company is a lso in possession of hard copy results and data of historic work completed on and near
the IMC Claims, such as geological mapping and geochemical sampling. Kaaterskill personnel will compile
and digitized work, including such information to further update t he Company’s database and perform
follow-up work, including litho-geochemical sampling in the areas indicated as geochemically anomalous
from the historic maps and ground proof past geological mapping. They will then use all results to generate
potential drill targets for a proposed spring drill program.
The Company also wishes to announce that Faizaan Lalani has joined the Board of Directors effective
November 15, 2019. Mr. Lalani is a n accounting/f inance professional with over 10 years of experience
covering auditing, financial reporting, corporate finance, and operations management. Mr. Lalani also
founded his own apparel company, selling the brand across North America over the last four years. Prior
to this, he worked in the audit and assurance group at PricewaterhouseCoopers, where he obtained his
CA/CPA designation, gaining experience in both the public and priva te sectors. Mr. Lalani currently holds
board positions for several private and public companies. Mr. Lalani will replace Dave McMillan. The
Company wishes to thank Mr. McMillan for his valuable contribution and work, and wishes him all the best
in his future endeavours.
The Company also wishes to provide an update to its November 12, 2019 press release in which it had
announced that IMC signed a non-binding letter of intent with Orosur Mining Inc. (“Orosur”). In December
2019, IMC personnel completed a 10 -day Uruguay visit comprising tours of Orosur’s milling facility, past
producing mines, and exploration properties. Meetings were also held with the Secretary of Mining and
Geology from the Ministry of Industry, Energy and Mining, the Canadian Ambassador and Canadian Trade
Commissioner, as well as with head management of past owners of the Orosur property and mining
permits. The letter of intent expired on December 27, 2019 without a definitive agreement being
concluded. IMC remains in discussions with Orosur to consider if a mutually beneficial agreement can be
reached for the purchase of Orosur’s mining and exploration permits in Uruguay.
The Company is also pleased to announce that it has entered into an investor relations agreement (the
“Investor Relations Agreement”) with Midam Ventures, LLC (“Midam”). Midam provides public & private
companies with transparent, results-oriented, compliant, awareness, marketing & advertising campaigns.
Under the Investor Relations Agreement, Midam will provide market ing, advertising, public relations and
corporate branding services (the “Services”) to the Company for the purpose of creating market awareness
of the Company. In return for the Services to be rendered, the Company will pay Midam a fee of
USD$200,000. The Investor Relations Agreement became effective on January 7, 2020 and will continue
until February 14, 2020.
The Company further announces that the escrow agreement voluntarily entered into by the Company with
and among certain se curityholders dated September 1 7, 2019 (the “ Voluntary Escrow Agreement ”) will
be terminated effective February 24, 2020.
Under the Voluntary Escrow Agreement, a total of 1 5 securityholders of the Company (the “ Subject
Securityholders”) had agreed to restrict an aggregate 5,940,000 common shares and 5,940,000 warrants
such that they were subject to the following escrow release schedule:
On Sept. 14, 2019 (the listing date) 1/10 of the escrow securities
6 months after the listing date 1/6 of the remaining escrow securities
12 months after the listing date 1/5 of the remaining escrow securities
18 months after the listing date 1/4 of the remaining escrow securities
24 months after the listing date 1/3 of the remaining escrow securities
30 months after the listing date 1/2 of the remaining escrow securities
36 months after the listing date the remaining escrow securities
Among the drivers for terminating the Voluntary Escrow Agreement is the desire to create a more active
market for tradin g in the Company’s shares and to better align the Subject Securityholders’ economic
interests with the success of the Company.
QUALIFIED PERSON
The technical and scientific information herein regarding the IMC Claims has been reviewed and approved
under the supervision of Brian Thurston , who is a Qualified Person within the meaning of National
Instrument 43-101 – Standard of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Brian Thurston
Chief Executive Officer and President
ABOUT INTERNATIONAL MINING CORP.
IMC International Mining Corp. is a junior exploration and development company. It is focused on creating
shareholder value through the acquisition, exploration and development of gold assets, which include the
Company’s 100% owned Bullard Pass Property in Arizona.
IMC continues to evaluate additional properties to add to its portfolio of mining assets.
INVESTOR RELATIONS:
1 (604) 588-2110
https://imcxmining.com
Forward-Looking Information: This news release contains "forward -looking information" within the meaning of
applicable securities laws, including statements regarding: the creation of market awareness of the Company; the
Company’s ability to enter into any further agreement with Orosur; the creation of a more active trading market; the
better alignment of the economic interests of the Subject Shareholders to the Company’s success; the Company’s
intention to ac quire further mineral properties; the Company's business plans and prospects and the future of the
Company’s business, the acquisition, exploration and development of its assets; and the ability to create shareholder
value. Although the Company believes th at the expectations reflected in the forward -looking information are
reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to
place undue reliance on forward -looking information. Such forward -looking statements are subject to risks and
uncertainties that may cause actual results, performance and developments to differ materially from those
contemplated by these statements depending on, among other things, the risks that Midam will be unable to creat e
market awareness of the Company, that the Company may not be able to complete any further agreement with
Orosur, the risks that a more active market for trading in the Company’s securities may not develop , the economic
interests of the Subject Shareholde rs may diverge from the Company’s , that the Company may not acquire any
additional mineral properties, that the Company's plans and prospects will vary from those stated in this news release
and that the Company may not be able to carry out its business pl ans as expected. Except as required by law, the
Company expressly disclaims any obligation and does not intend to update any forward -looking statements or
forward-looking information in this news release. Although the Company believes that the expectations reflected in
the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be
correct. Accordingly, readers should not place undue reliance on forward-looking information. The statements in this
news release are made as of the date of this release.
The CSE has not reviewed, approved or disapproved the content of this press release