NEW WESTMINSTER, BRITISH COLUMBIA -- (Marketwired) -- 05/23/13 -- : Further to International Millennium Mining Corp.'s (TSX VENTURE:IMI) (the "Company" or "IMMC") announcement of September 14, 2012, the Company has completed the second tranche of its private placement, whereby it has raised another $660,000. The Company will, upon Exchange approval, issue 8,250,000 units at $0.08 per unit. Each unit is comprised of one (1) common share and one (1) non-transferable share purchase warrant entitling the holder to purchase an additional share at $0.10 per share for a period of eighteen (18) months from the date of issuance. The Company will pay up to an 8% finder's fee.
The Company will use the proceeds to acquire the balance of Silver Reserve Corp.'s ("SRC") underlying interest in the Nivloc Silver and Gold Mine property ("Nivloc Property") located in southwestern Nevada (see March 11, 2013 news release), and for working capital.
Pursuant to an agreement with SRC, the Company will acquire all of SRC's underlying interest in the Nivloc Property upon payment of US$425,000 to SRC.
International Millennium Mining Corp. 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 and on the Frankfurt Exchange under the symbol: L9J.
ON BEHALF OF THE BOARD
John A. Versfelt, President & CEO
Further information about the Company can be found on the IMMC website (www.immc.ca), on SEDAR (www.sedar.com).
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.
