International Millennium Mining Corp.

International Millennium Mining Corp.

May 15, 2006 09:30 ET

International Millennium Receives Shareholder Approval for Purchase of Mineral Properties, Appoints CFO and Renews Management Agreement

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 15, 2006) - International Millennium Mining Corp. (the "Company" or "IMMC") is pleased to announce, overwhelming support by its disinterested shareholders for the previously announced purchase of Cabo Drilling Corp.'s interest in four Ontario mineral properties for 10,000,000 units of IMMC, each unit consisting of one (1) common share and one-third (1/3) of a warrant, each full warrant entitling the holder to purchase one (1) share in the capital stock of the Company for thirty-five cents ($0.35) for a period of two (2) years following the date of issue. At the Company's Annual General and Special Meeting, held Friday, April 28, 2006, the disinterested shareholders voted 99.34% in favour of the purchase. The Company received proxies representing over 66% of its issued and outstanding shares.

IMMC also announces the appointment of Mr. Calvin B. Lucyshyn, CA, as Chief Financial Officer of the Company. Mr. Lucyshyn is presently Controller/CFO for Cabo Drilling Corp. and will provide his services to IMMC, under terms of a Financial Management Services Agreement.

IMMC is renewing its Management Consulting Services Agreement with American Resource Management Consultants Inc. ("ARMC"), a company controlled by John A. Versfelt, the Company's President and CEO. ARMC has provided management consulting, administration and accounting services to the Company since 1991.

The Company's shareholders approved the filing of a listing application with the TSX Venture Exchange.

ON BEHALF OF THE BOARD,

"John A. Versfelt"

John A. Versfelt, President & 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • International Millennium Mining Corp.
    Mr. John A. Versfelt
    President & CEO
    (604) 984-9907
    or
    International Millennium Mining Corp.
    Mr. D. Alex Caldwell
    Corporate Secretary
    (604) 984-9907