December 17, 2007 16:33 ET

Inter-Rock Minerals Inc.: Nevada Mineral Properties Update and Private Placement Announcement

TORONTO, ONTARIO--(Marketwire - Dec. 17, 2007) - Inter-Rock Minerals Inc. (TSX VENTURE:IRO) recently announced that it has acquired five claim groups in historic mining districts of northern Nevada. Inter-Rock's wholly owned subsidiary, Secret Pass Gold, staked a total of 123 claims and acquired a mineral lease for 17 claims. Inter-Rock will carry out evaluation work designed to develop drill targets on two of the properties. The other properties are currently under evaluation for potential farm-in.

One of the two subject properties, Sentinel, is located in Humbolt County. Australian Ores and Minerals discovered gold mineralization at Sentinel Peak in the 1990's by follow up field examination of a spectral anomaly. Their work comprised geological mapping, a closed space soil geochemical program, analysis of rock chip, trench, and road cut samples, and ground geophysical studies. This work confirmed an anomalous gold zone over a thousand feet wide by several thousand feet in length. Inter-Rock is planning a series of low cost airtrack drill holes on this project to provide detailed mapping and sampling data.

The second property, Stingaree Valley, is located in Churchill County. Previous investigations have indicated that favourable bedrock is not deeply covered. Inter-Rock intends on carrying out geophysical and geochemical surveys to assist in drill target definition.

In order to finance exploration of the Nevada properties, Inter-Rock is planning a non-brokered private placement of up to 2,500,000 units at an offering price of $0.10 per unit to raise proceeds of up to $250,000. Each unit will be comprised of one common share and one common share purchase warrant exercisable for a period of two years at $0.20 per share. Closing of the private placement is expected to occur early in 2008, and is subject to receipt of all required regulatory consents and approvals.

Inter-Rock also owns MIN-AD, Inc. MIN-AD owns and operates a successful specialty dolomite business that supplies a mineral supplement to the North American livestock feed industry and it holds the claims for two zeolite deposits in northern Nevada. Inter-Rock currently has 20,172,811 common shares issued and outstanding.

No stock exchange or securities regulatory authority has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Inter Rock Minerals Inc.
    Michael B. Crombie
    (416) 367-3003
    (416) 367-3638 (FAX)