Metallic Ventures Gold Inc.

Metallic Ventures Gold Inc.

February 24, 2010 08:43 ET

Metallic Ventures Shareholders Overwhelmingly Approve Plan of Arrangement With International Minerals

TORONTO, ONTARIO--(Marketwire - Feb. 24, 2010) - Metallic Ventures Gold Inc. ("MVG") (TSX:MVG) is pleased to announce that at a special meeting held on February 22, 2010, over 99% of the MVG shareholders present in person or by proxy at the meeting voted in favour of a special resolution approving the acquisition of MVG by International Minerals Corporation, pursuant to a plan of arrangement (the "Plan") under the Business Corporations Act (Ontario).

The Plan remains subject to the approval of the Ontario Superior Court of Justice (Commercial List) (the "Court"). Application to the Court for the Final Order approving the Plan will be made on Wednesday, February 24, 2010. Closing of the transaction is anticipated to occur on or about February 26, 2010.

Cautionary Note to U.S. Investors

The United States Securities and Exchange Commission (the "SEC") permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on our website and in our press releases, such as "measured", "indicated", and "inferred" resources, that are recognized and required by Canadian regulations, however, the SEC guidelines strictly prohibit U.S. companies from including these terms in their filings with the SEC. We advise U.S. investors that while these terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission do not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves or will be economically or legally minable.

Certain statements included herein constitute "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Metallic Ventures Gold or of the gold mining industry to be materially different from future results, performance or achievements expressed or implied by those forward looking statements. These risks, uncertainties and other factors include, but are not limited to, changes in the worldwide price of gold or certain other commodities and currencies and the risks involved in the exploration, development and mining business. These factors are discussed in greater detail in Metallic Ventures Gold's most recent Annual Information Form and Management's Discussion and Analysis of Financial and Operating Results on file with the Canadian provincial securities regulatory authorities.

Contact Information