International Millennium Mining Corp.
TSX VENTURE : IMI
FRANKFURT : L9J

International Millennium Mining Corp.

January 27, 2010 09:00 ET

International Millennium Closes Final Tranche of Private Placement

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 27, 2010) - International Millennium Mining Corp. (the "Company") (TSX VENTURE:IMI)(FRANKFURT:L9J) has closed the second and final tranche of its private placement. Further to the Company's news release January 20, 2010, the closing is with respect to 2,416,667 non-flow-through units representing additional cash proceeds of $145,000. Total cash proceeds of the placement is $811,784. Each non-flow through unit is comprised of one (1) common share and one half (½) non-transferable share purchase warrant. Each full warrant entitles the holder to purchase an additional share for $0.10 if exercised on or before January 11, 2012. Shares issued under the second tranche of the placement or upon exercise of the second tranche warrants are subject to a four month hold period ending May 26, 2010. The placement has TSX Venture Exchange acceptance subject to final documentation. The Company will pay an 8.5% finder's fee and issue 8.5% broker unit warrants with respect to a portion of the placement. Broker unit warrants entitle the holder to acquire one broker unit at $0.06 per unit if exercised on or before January 11, 2012, each broker unit is comprised of one share and one ordinary share purchase warrant entitling the holder to acquire one additional share for $0.10 on or before January 11, 2012.

The Company will use the proceeds of the private placement for exploration work on its Canadian and Nevada mineral properties and for working capital. With completion of this financing, the Company is planning to drill its Simon property in Nevada with the program scheduled to start at the beginning of February. 

About International Millennium Mining Corp.

International Millennium Mining Corp. is a mineral exploration and development company engaged in acquiring known small mines world-wide and in the exploration of polymetallic mineral properties in Canada and the Americas. To date, the Company has acquired and is exploring mineral properties in British Columbia and Ontario, Canada; Nevada, USA; and Sonora State, Mexico. Emerging mineral targets include gold, silver, cobalt, molybdenum, zinc, lead, nickel, copper and platinum group metals. 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 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.

Contact Information

  • International Millennium Mining Corp.
    Mr. Wayne Meredith
    (604) 569-2509
    waynem@immc.ca
    or
    International Millennium Mining Corp.
    Mr. John A. Versfelt
    President & CEO
    (604) 984-9907
    (604) 983-8056 (FAX)
    info@immc.ca