International Metals Announces Shares FOR Debt Transaction

INTERNATIONAL METALS MINING CORP.

NEWS RELEASE

INTERNATIONAL METALS ANNOUNCES SHARES FOR DEBT TRANSACTION

Vancouver, British Columbia (January 12, 2023) – International Metals Mining Corp. (formerly

Gold State Resources Inc.) (the “Company”) (TSXV: IMM | OTCQB: CYNXF | FSE: C2YD announces

that it has agreed to settle an aggregate of up to $595,000.00 of debt through the issuance of

common shares of the Company (the “Debt Settlement”) to certain arm’s length creditors of the

Company (the "Creditors"). Pursuant to the Debt Settlement, the Company would issue to the

Creditors up to 7,933,333 common shares of the Company (the "Shares") at a deemed price of

$0.075 per Share. The Debt Settlement will help to preserve cash for general working capital

purposes.

The issuance of the Shares to the Creditors is subject to the approval of the TSX Venture

Exchange. All Shares issued will be subject to a four month hold period which will expire on the

date that is four months and one day from the date of issue.

About Gold State

International Metals Mining Corp. is engaged in the acquisition, exploration, and development of

mineral properties in North and South America.

Gold State Resources Inc.

Per: “Brian Thurston”

Brian Thurston

President and CEO

Tel: +1 778 928-6565

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this

release.

This release includes certain statements that may be deemed "forward-looking statements". All

statements in this release, other than statements of historical facts, that address events or

developments that the Company expects to occur, are forward -looking statements. Forward-

looking statements are statements that are not historical facts and are generally, but not always,

identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates",

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"projects", "potential" and similar expressions, or that events or conditions "will", "would", "may",

"could" or "should" occur. Although the Company believes the expectations expressed in such

forward-looking statements are based on reasonable assumptions, such statements are not

guarantees of future performance and actual results may differ materially from those in the

forward-looking statements. Factors that could cause the actual results to differ materially from

those in forward-looking statements include market prices, exploitation and exploration

successes on the Company’s properties, and continued availability of capital and financing, and

general economic, market or business conditions, laws in the jurisdictions where the Company

operates. Investors are cautioned that any such statements are not guarantees of fut ure

performance and actual results or developments may differ materially from those projected in the

forward-looking statements. Forward-looking statements are based on the beliefs, estimates and

opinions of the Company's management on the date the statements are made. Except as required

by applicable securities laws, the Company undertakes no obligation to update these forward-

looking statements in the event that management's beliefs, estimates or opinions, or other

factors, should change.