22448899 Bbeelllleevvuuee Aavveennuuee Wweesstt Vvaannccoouuvveerr,, Bbcc VV77VV 11EE11 Tteell 660044 992222 22003300 Ffaaxx 660044 992222 22003377 Ttoollll Ffrreeee ((Ccaannaaddaa)) 11 888888 888888 99112222
22448899 BBEELLLLEEVVUUEE AAVVEENNUUEE
WWEESSTT VVAANNCCOOUUVVEERR,, BBCC VV77VV 11EE11
TTEELL 660044 992222 22003300
FFAAXX 660044 992222 22003377
TTOOLLLL FFRREEEE ((CCAANNAADDAA)) 11 888888 888888 99112222
TTOOLLLL FFRREEEE ((UUSSAA)) 11 888888 888888 99112233
{3945-001/01573946.DOC.2}
Trading symbol: TSX-V: RMO Trading Symbol: TSX-V: IBC
Frankfurt: EK7N-FF
News Release No: 3
News Release No: 27
International Bethlehem and Rainy Mountain Announce Option Agreement
West Vancouver, British Columbia – October 4, 2017 – International Bethlehem Mining Corp.
(“International Bethlehem”) and Rainy Mountain Royalty Corp. (“Rainy Mountain”) are pleased to
announce that the two companies have entered into an option agreement (the “ Option
Agreement”). Pursuant to the Option Agre ement, International Bethlehem has been granted the
option (the “Option”) to acquire an undivided 90% interest in certain mining claims , referred to as
the Powell Property, held by Rainy Mountain in Ontario, Canada (the “Property”), on the terms and
conditions of the Option Agreement and subject to the approval of TSX Venture Exchange (the
“Exchange”).
In order to exercise the Option and acquire an undivided 90% interest in the Property, International
Bethlehem is required to: (i) issue 2,000,000 common sh ares of International Bethlehem to Rainy
Mountain; and (ii) incur exploration expenditures in the aggregate amount of $1,000,000 on the
Property over a five year period commencing on the date the Exchange approves the Option
Agreement. Upon exercise of the Option, International Bethlehem and Rainy Mountain will, in good
faith, negotiate and enter into a joint venture agreement provided, however; that International
Bethlehem has the option to purchase the 10% interest retained by Rainy Mountain upon exercise
of the O ption in full in exchange for 1,000,000 shares of International Bethlehem and a 2% net
smelter royalty on the Property.
The Option Agreement is considered to be a non -arm’s length transaction and remains subject to
approval by the Exchange.
The Property was originally acquired in 2004 by Rainy Mountain and subsequently joint ventu red
with Mega Uranium Ltd. The P roperty has had extensive grids (over 110 km) and Induced
Polarization (“IP”) surveys, and a limited amount of drilling and trenching, which exposed a number
of gold showings. This work was carried out by Fairmont Resources (“Fairmont”). The most rec ent
drill program on the Property, also carried out by Fairmont, occurred in 2011 and yielded 2.91 gm
Au/1.55m and 8.45 gm Au/1.9 m (as reported in Fairmont’s news release of June 14, 2011). The IP
surveys have outlined 3 major shear zones which extend South West from the Ardeen Mine and
other shears extending from the Moss Lake gold deposit now being developed by a Wesdome
Gold Mines Inc. subsidiary, Moss Lake Gold Mines Ltd.
Furthermore, International Bethlehem is pleased to announce that the Exchange has granted it an
extension to file certain documents regarding its Tier 2 Continued Listing Requirements (the “Tier 2
CLR”). As disclosed Inte rnational Bethlehem’s news release dated June 28, 2017, the Exchange
had determined International Bethlehem did not meet the Exchange’s Tier 2 CLR. As a result, the
Exchange had given International Bethlehem until September 29, 2017 to submit documentation
{3945-001/01573946.DOC.2}
that it met the Tier 2 CLR requirements. This deadline has now been extended until November 29,
2017. The entering into of the Option Agreement will partially assist International Bethlehem in
fulfilling the Tier 2 CLR.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030 or
visit International Bethlehem’s website at www.bethlehemmining.com or Rainy Mountain’s website at
www.rmroyalty.com.
INTERNATIONAL BETHLEHEM MINING CORP. RAINY MOUNTAIN ROYALTY CORP.
“Douglas L. Mason” “Douglas L. Mason”
__________________________ __________________________
Douglas L. Mason, CEO Douglas L. Mason, CEO
Neither the 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 release includes certain statements that may be deemed “forward-looking statements ” within the meaning of
applicable securities legislation. All statements, other than statements of historical facts, that address such matters,
including the use of proceeds of the private placement, are forward -looking statements. Forward-looking statements are
generally, but n ot always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “suspects”, “intends”,
“estimates”, “projects”, ”targets”, “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 mate rially from those expressed in, or implied by, this forward looking information. Factors that could
cause actual results to differ materially from those in forward -looking statements include such matters as market prices
for the Company’s anticipated products, regulatory approvals require d for the Company’s business plans, continued
availability of capital and financing, and general economic, market or business conditions. Any forward -looking
statements are expressly qualified in their entirety by this cautionary statement. Forward-looking statements are based
on the beliefs, estimates and opinions of the Company’s management on the date such statements were made and are
subject to change after that date and the Company does not undertake any obligation to update publicly or revise any
forward-looking statements , whether as a result of new information, future events or otherwise , except as may be
required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in
the United States. The securities described herein have not been and will not be registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a
U.S. person absent an exemption from the registration requirements of such Act.