IDM Mining Ltd.
TSX : IDM

IDM Mining Ltd.

January 14, 2015 09:00 ET

IDM Mining Sampling of Historic Drill Core Yields 139 Meters of 1.59 g/t Au, Including 18.0 Meters of 5.45 g/t Au at 141 Zone, Red Mountain Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 14, 2015) - IDM Mining Ltd. (TSX:IDM) ("IDM" or the "Company") is pleased to announce that it has received results from sampling of un-assayed historic drill core from the 141 Zone at the Red Mountain Gold Project ("Red Mountain" or the "Project"), located 15 kilometers northeast of Stewart, British Columbia. The 141 Zone is located 280 meters southwest of the Marc/AV/JW Zones, which are host to the current NI 43-101 compliant mineral resource estimate at Red Mountain (the "Resource Area"). A proposed production ramp outlined in IDM's Preliminary Economic Assessment is expected to pass through the 141 Zone area (see IDM News Release July 23, 2014).

"Located in a similar geologic setting to giant gold deposits in northwest BC including KSM, Snowfield and Premier, the 141 Zone at Red Mountain is emerging as a significant mineralized area, open for further expansion," said Rob McLeod, President and CEO of IDM Mining.

During September 2014, three diamond drill holes were completed at the 141 Zone, which is located outside of the Resource Area, with mineralized intervals including: 138 meters averaging 1.41 g/t Au, with a high-grade zone of 7.5 meters averaging 10.45 g/t Au (see IDM news release November 13, 2014). These results, coupled with wide-spaced historic drilling, have demonstrated gold mineralization within an area of extensive low-grade porphyry-gold style mineralization at the 141 Zone (typically >1.0 g/t Au), as well as higher grade cores (>5.0 g/t Au).

Since acquiring the Red Mountain Project, IDM has conducted a sampling program of select drill holes of un-assayed core from drilling completed by Lac Minerals in 1993 and 1994. The objective of the historic drill programs at the time was to target high-grade gold, resulting in many areas of strong alteration and sulphide mineralization remaining un-sampled. A total of 68 core samples were submitted, covering un-assayed intervals ranging from 1.0 to 18.2 meters, from five holes. Individual samples were typically 1.0 to 1.5 meters in length.

Complete assay results and revised intervals are as follows:

Hole-ID From (m) To (m) Length (m) Au (g/t)
M93-139 167.00 326.00 159.00 0.73
M94-184 214.80 386.00 171.20 1.05
Including 214.80 275.00 60.20 2.28
or 234.80 248.50 13.70 6.26
M94-185* 188.20 302.70 114.50 1.38
including 188.20 245.00 56.80 2.18
M94-186 153.00 292.00 139.00 1.59
including 153.00 171.00 18.00 5.45
M94-203 373.50 470.50 97.00 1.63
including 402.60 408.60 6.00 8.60
*Additional un-assayed intervals in this intersection

Due to the wide-spaced drilling and complex geology of the 141 Zone, true thickness and orientation of mineralization is not yet fully understood.

The mineralized trend of the 141 Zone is subparallel with the Resource Area including the Marc/AV/JW Zones, spanning a broad area at least 325 meters long by 350 meters wide and is open for expansion in all directions. Infill and step-out drilling is planned for 2015, with the objective of completing an initial NI 43-101 resource estimate for the 141 Zone.

"The 141 Zone is a priority exploration target at Red Mountain," said Michael McPhie, Executive Chairman of IDM Mining. "Due to its close proximity to the Marc/AV/JW Zones, additional high grade mineralization from the 141 Zone would be complimentary to the Project Description for an underground mine, outlined in our PEA and Project Description for Environmental Assessment."

Gold mineralization at the 141 Zone is hosted within a complex assemblage of strongly altered hornblende-feldspar porphyry dykes and sills, intruding tuffaceous volcanics and sediments. Stockworks, veins and disseminations of pyrite and pyrrhotite correlates with gold values, typically in areas of strong sericite alteration, potassium feldspar alteration and silicification.

Drill hole location maps including the sampled historic holes can be viewed at www.IDMmining.com.

ABOUT RED MOUNTAIN

IDM Mining is currently earning an option to acquire a 100% interest in the 17,125 hectare Red Mountain property, located 15 kilometers northeast of Stewart, BC. Numerous precious and base metal targets have been identified by IDM and previous operators over a 15 km by 4 km trend of strong alteration and mineralized prospects. Since discovery in 1989, in excess of $40 million has been spent on the Project including a production sized underground ramp.

IDM recently announced positive results from a NI 43-101 PEA and revised Resource Estimate completed by JDS Energy & Mining Ltd. for Red Mountain (see IDM news release dated July 23, 2014). A technical report prepared in compliance with the requirements of the Canadian Securities Administrators' NI 43-101 has been filed on SEDAR and the Company's website.

At a 3.0 g/t Au cutoff, Measured and Indicated Resources from the Marc and AV Zones at Red Mountain are 1,454,300 tonnes averaging 8.15 g/t Au and 29.57 g/t Ag totaling 380,900 oz Au and 1,382,800 oz Ag. Inferred Resources from the Marc, AV and JW Zones are 332,900 tonnes averaging 7.69 g/t Au and 12.72 g/t Ag totaling 82,300 oz Au and 136,200 oz Ag.

QA/QC

The 2014 exploration program at Red Mountain included a rigorous Quality Control/Quality Assurance program, overseen by Rob McLeod, P.Geo, President and CEO of IDM Mining, and a Qualified Person as defined by NI 43-101. Drill cores were logged and cut in half using a diamond saw, with one half placed in sealed bags and shipped to Acme Analytical Labs' ("Acme") sample preparation facility in Smithers, BC, with pulps subsequently shipped to Acme's assay lab in Vancouver, BC. A total of 10% of all samples submitted include randomly inserted blank material or quality control standards. An additional 10% of samples will be shipped to a third party analytical lab for verification.

Mr. McLeod prepared and approved the technical information contained within this release.

ABOUT IDM MINING LTD.

IDM Mining Ltd. is a mineral exploration company (TSX:IDM) based in Vancouver, BC, Canada. The Company's current exploration activities are focused on precious metals in British Columbia and the Carolina Slate Belt, USA. Further information can be found on the Company's website at www.IDMmining.com.

ON BEHALF OF THE BOARD of IDM Mining Ltd.

Robert McLeod, President, CEO and Director

Forward-Looking Statements: Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to proposed exploration and development activities and their timing, resource estimates and potential mineralization, the PEA, including estimates of capital and sustaining costs, anticipated internal rates of return, mine production, estimated recoveries, mine life, estimated payback period and net present values, opportunities to enhance the value of the Red Mountain Project and other plans and objectives of IDM. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others and in addition to those described elsewhere in this release, delays in obtaining or inability to obtain required government or other regulatory approvals, permits or financing, the risk of unexpected variations in mineral resources, grade or recovery rates, of failure of plant, equipment or processes to operate as anticipated, of accidents, labor disputes, and unanticipated delays in completing other development activities, the risk that estimated costs will be higher than anticipated and the risk that the proposed mine plan and recoveries will not be achieved, equipment breakdowns and bad weather, the timing and success of future exploration and development activities, exploration and development risks, mineral resources are not as estimated, title matters, third party consents, operating hazards, metal prices, political and economic factors, competitive factors and general economic conditions. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: required approvals, permits and financing will be obtained; the proposed exploration and development will proceed as planned; with respect to mineral resource estimates, the key assumptions and parameters on which such estimates are based; that the proposed mine plan and recoveries will be achieved, that capital costs and sustaining costs will be as estimated, and that no unforeseen accident, fire, ground instability, flooding, labor disruption, equipment failure, metallurgical, environmental or other events that could delay or increase the cost of development will occur, and market fundamentals will result in sustained metals and minerals prices. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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