NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2012) - International Millennium Mining Corp. (TSX VENTURE:IMI) (the "Company" or "IMMC") has, subject to regulatory acceptance, entered into an option agreement to acquire 100% interest in the 2,919 hectare Lead (Pb), Silver (Ag) and Zinc (Zn) Wild Goose property, located northwest of Revelstoke, B.C. The Company can acquire its interest in the property by making option payments totaling $100,000 in cash and 500,000 common shares over five (5) years, and by incurring $1.0 million of exploration or development expenditures over eight (8) years. The Company's interest is subject to a 50% re-purchasable 2% net smelter return royalty.
The Wild Goose property is located approximately 23 km northwest of Revelstoke, BC and 5 km north of Mount Copeland (approximately 10 minutes by helicopter from the Revelstoke airport). The property is underlain by the Shuswap Metamorphic Complex. Five (5) distinct Pb/Ag/Zn showings, several of which have anomalous Gold (Au) values, have been identified on the Wild Goose property to date, all of which include high grade Pb, Ag and Zn veins. Geologically, the showings all occur in the footwall of the Bews Creek Fault, which may be a detachment structure.
During various Summer/Fall periods between 1989 and 1995, four (4) prospecting programs were carried out on the Wild Goose property, which included four (4) rock chip sampling programs, one (1) soil geochemistry grid sampling program and two (2) stream sediment sampling programs. Of 87 samples assayed: eight (8) assayed greater than 1 g/t Au; twenty-three (23) assayed greater than 320 g/t Ag; twenty (20) assayed greater than 20.0% Pb; and eighteen (18) assayed greater than 1.0% Zn. The Company plans to coordinate a prospecting and soil geochemistry program on the property this coming Summer, 2012.
David G. Mark, BSc. PGeo, a qualified person under NI 43-101, has reviewed and approved the contents of this news release.
Stock Options Granted
The Company announces that it has increased the total incentive stock options issued to employees, directors and consultants, under the terms of its Stock Option Plan, from 2,030,000 shares to 3,645,000 shares, subject to the acceptance of the TSX Venture Exchange. New options, to acquire up to 1,615,000 shares at $0.11 per share, were granted to employees, directors and consultants of the company, of which 1,115,000 expire December 31, 2014 and 500,000 expire April 15, 2013. Subject to regulatory acceptance, the Company has also extended the expiry date of 1,930,000 option shares, originally granted on December 24, 2009, from December 24, 2012 to December 31, 2014.
International Millennium Mining Corp. (TSX VENTURE:IMI) is a mineral exploration and development company engaged in acquiring known smaller mine deposits, such as its Nivloc, Nevada silver-gold mine project, in the Americas, with the goal of advancing the properties to the mining stage. Emerging targets include silver, gold, copper, zinc and lead. The Company's common shares trade on the TSX Venture Exchange under the symbol: IMI
ON BEHALF OF THE BOARD
John A. Versfelt, President and CEO
Further information about the Company can be found on SEDAR (www.sedar.com).
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.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.