Inmet Mining Corporation
TSX : IMN

Inmet Mining Corporation

May 11, 2007 08:55 ET

Inmet Shareholder Rights Plan Terminated

TORONTO, ONTARIO--(Marketwire – May 11, 2007) - Inmet Mining Corporation (TSX:IMN) ("Inmet") announced today the termination of its shareholder rights plan (the "Rights Plan"). The Rights Plan was subject to reconfirmation by shareholders by simple majority vote at the Annual and Special Meeting of Inmet's shareholders held on May 1, 2007 (the "Meeting"). Management received enough proxies voting against the Rights Plan prior to the Meeting to believe the Rights Plan would not be reconfirmed by shareholders. As a result, Inmet's board of directors withdrew the resolution to reconfirm the Rights Plan. As the Rights Plan was not reconfirmed by shareholders, the rights issued before the Meeting under the Rights Plan will be redeemed at the redemption price of $0.0001 per right. No payments will be made to any registered shareholder entitled to receive less than $5.00 in respect of all rights held by such shareholder unless the shareholder expressly requests Inmet's transfer agent, CIBC Mellon Trust Company, in writing by December 31, 2007 to issue a cheque to such shareholder.

About Inmet - Inmet is a Canadian-based global mining company that produces copper, zinc and gold. We have interests in four mining operations in locations around the world: Cayeli, Pyhasalmi, Troilus and Ok Tedi. We also have interests in two development properties, Las Cruces and Cerattepe, and one pre-development property, Petaquilla.

This press release is also available at www.inmetmining.com.

Contact Information

  • Inmet Mining Corporation
    Steve Astritis
    Vice-President, General Counsel and Secretary
    (416) 860-3977
    (416) 368-4692 (FAX)
    www.inmetmining.com