International Millennium Mining Corp.

International Millennium Mining Corp.

January 07, 2005 18:45 ET

International Millennium Acquires Simon Mine Property, Nevada


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: INTERNATIONAL MILLENNIUM MINING CORP.

JANUARY 7, 2005 - 18:45 ET

International Millennium Acquires Simon Mine Property,
Nevada

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 7, 2005) -
International Millennium Mining Corp. announces it has acquired, the
exclusive right and option to purchase 100% interest in the Simon Mine
property located in Mineral County, Nevada (the "Simon Property") about
22 miles northeast of the town of Mina. The Simon Mine has seen multiple
stages of exploration and production, beginning in the early 1900's and
continuing through 1969. Federal Resources Corporation was the most
recent producer through to 1969 recovering an unknown quantity of ore
from the mine following their completion of a three compartment 1000
foot vertical shaft in 1965. The 23 mineral claim, mostly patented,
property consisting of approximately 460 acres represents an exploration
and development prospect largely ignored for over 30 years. The option
requires the Company to make an initial US$6,000.00 payment and
US$3,000.00, or 1 1/2% NSR, whichever is greater, payments each month
until the full purchase price of US$900,000 has been paid. A finder's
fee of up to 200,000 shares is to be paid over two years as long as the
option remains in good standing.

The Simon Property is situated in the Cedar Mountains of western Nevada,
and is accessible by improved gravel roads from a turnoff one-half mile
north of Mina on Highway 95. California registered Geologist Thomas L.
Evans, who, together with another individual found the Simon Property
for the Company, has provided the following information.

HISTORY

The Simon Mine, first produced, high grade oxidized silver-lead ore
mined from surface showings and from an early 300 foot partly inclined
and vertical shaft that was eventually abandoned for a 700 foot 3
compartment shaft completed in 1924. By 1926, that shaft had been
deepened to 800 feet and the property and mine had become a major
exploration and production facility for oxide and sulphide ores.
Approximately 30,000 tons of near surface ore, said to average 2.5
oz/ton silver, 4% lead and 5% zinc, was processed through an early day
flotation mill. Ore mined from the workings below 700 feet was found to
be between 7% and 9% higher in lead and zinc, silver content more than
tripled and gold, up to 0.08 oz/ton and copper ranging in grade up to
10% was encountered. The mine was later deepened, by an internal winze,
to 900, then to 1,000 feet where higher grade ore persisted. This phase
of development and production ended when the mine and mill closed in
1932.

Federal Resources Corporation ("Federal") acquired the Simon Property in
the early 1960's, conducted a surface drilling program and sank a new
three compartment 1,000 foot vertical shaft, that was completed in 1965.
It is not known how much ore Federal mined. Core drilling from
underground, totalling over 45 holes, reportedly encountered "good grade
ore" for an unknown distance below the 1,000 level. Federal elected to
ship ore to the Bunker Hill Smelter in Idaho. They ceased mining in 1969
and moved the double drum hoist and other equipment to Colorado. There
has been little exploration and no mining since.

GEOLOGY

The ore bodies mined from the older workings are reported to have
occurred alongside an alaskite dike emplaced along the contact between
Triassic limestone of the Luning formation and Tertiary volcanics. Ore
occurs as replacement deposits in the carbonate footwall of the 50
degree dipping Mammoth fault which forms the limestone-intrusive
contact. Near the old workings (the 300 foot shaft) the Mammoth fault
strikes northwest, is almost east-west at the 800 foot shaft and swings
around to a southwest strike northwest of the 1,000 foot shaft where
Federal Resources mined the bulk of their ore. Several post-ore faults
cut the ore bodies with a displacement downward to the southwest in a
series of offsets. As previously mentioned, the ore grade at the Simon
Mine became better with depth. A sample taken from the 905 drift in
September, 1930, assayed 0.08 oz/ton gold, 28.7 oz silver, 19.5% lead,
8.0% zinc and 3.8% copper. Eighty-nine cars of ore shipped from the 905
drift area averaged 0.04 oz/ton gold, 12 oz/ton silver, 9.0% lead, 5.7%
zinc and 3% copper. Assays from 6 samples taken between January-March
1931 from the 1,000 foot level (1001 and 1002 drifts) averaged 0.063
oz/ton gold, 13.27 oz/ton silver, 14.45% lead, 12.15% zinc and 3.5%
copper.

CONCLUSIONS

The Simon Mine property presents itself as a good exploration and
development project. The property appears to offer both size and grade
potential for possible mining and flotation milling. An initial
exploration program would require deep drilling to test the region down
dip from the 1,000 level ore bodies. Holes could be pre-collared with RC
drilling and cased for core drilling. Access for underground
exploration, development and mining if warranted, would require
de-watering and rehabilitation of the Federal shaft, sunk in solid
limestone and acquisition of a steel head frame. Prior to actual
production, another shaft or raise to provide a secondary exit from the
mine would have to be put in place. The original shaft alone could be
rehabilitated and used for sampling and drilling from underground
stations. Abundant water pumped from the workings may be sufficient for
on site milling.

International Millennium Mining Corp. (the "Company") is a development
stage company engaged in the acquisition and exploration of mineral
properties in Canada and internationally. The Company is currently
exploring a group of properties just east of Harrison Lake in
Southwestern British Columbia. Emerging mineral targets include nickel,
copper and platinum group elements.

ON BEHALF OF THE BOARD

John A. Versfelt, President and CEO

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, receipt of property titles,
potential mineral recovery processes and the timing of other business
transactions. 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.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    International Millennium Mining Corp.
    John A. Versfelt
    (604) 984-9907
    (604) 983-8056 (FAX)
    E-mail: info@immc.ca