Infrastructure Materials Corp.
OTC Bulletin Board : IFAM

Infrastructure Materials Corp.

January 19, 2012 09:00 ET

Infrastructure Materials Corp. Provides Corporate Update

RENO, NEVADA--(Marketwire - Jan. 19, 2012) - Infrastructure Materials Corp. (TSX VENTURE:IFM) (OTCBB:IFAM) ("Infrastructure" or the "Company") is pleased to report that its shares of common stock began trading today on the TSX Venture Exchange as a Tier 2 Mining Issuer.

Infrastructure's CEO, Todd Montgomery, stated, "I am pleased to give our Canadian shareholders the opportunity for liquidity on a Canadian exchange. We look forward to expanding our shareholder base with this new listing." The Company's shares are also traded on the OTC Bulletin Board in the United States where the Company has been a fully reporting issuer since 2007.

Status of Projects

Exploration of Infrastructure's cache of 17 cement grade limestone projects continues as planned. To date, work in the Company's limestone subsidiaries has yielded strategically located properties in the states of Nevada and Arizona and the province of Manitoba, close to infrastructure and market. Infrastructure's most advanced limestone project, the Blue Nose Project ("Blue Nose") is located in Lincoln County, Nevada, 90 miles northeast of Las Vegas and consists of 255 mineral claims. To date, the Company has completed three phases of drilling on Blue Nose for 29,910 ft. Drilling efforts have produced gridding data that enabled the authors of a Canadian National Instrument ("NI") 43-101 report to calculate a block indicated resource of 206,591,000 tonnes grading 50.04% calcium oxide (as filed on SEDAR on August 15, 2011).

Infrastructure's portfolio of cement grade limestone projects also includes three properties in south-central Manitoba. The Dauphin Group consists of 35 quarry leases covering approximately 2,381 hectares (5,883 acres) in close proximity to the cement markets in Manitoba, Saskatchewan, Alberta, western Ontario, Minnesota, North Dakota, and Montana. In 2009, a $185,000 diamond drill program was carried out by Canadian Infrastructure Corp., a wholly-owned subsidiary of Infrastructure. The 2009 drill program verified the grade and thickness established by drilling that was completed in 1989 by Cameco. Using the results of the 2009 and 1988-89 drilling, a technical report was prepared in September 2009 that included an estimate of an inferred mineral resource.

Progress is also encouraging for Silver Reserve Corp. ("SRC"), Infrastructure's wholly-owned precious metals subsidiary that controls 13 projects throughout the state of Nevada. SRC's most advanced project is the Silver Queen Project ("Silver Queen") which consists of 187 mineral claims located in Esmeralda County, Nevada, approximately nine miles west of Silver Peak, Nevada on Highway 47. In August 2011, SRC entered into an option agreement (the "MGold Agreement") with MGold Resources Inc. (TSX-V: MNI) ("MGold") pursuant to which MGold can earn a 50% interest in Silver Queen by spending CDN$4 million in work commitments over a 30 month period and cash payments totaling CDN$2 million over a 33 month period. Silver Queen is the home of the Mohawk Mine which operated from the 1920's to the 1950's. Based on historical public records, the ore produced from the mine averaged 20-25 ounces of silver per ton.

In 2008, the Company conducted a very limited drilling campaign which consisted of two reverse circulation ("RC") holes and two core holes in the Mohawk area, as well as four RC holes in the northern part of the property. Two of the holes near the Mohawk Mine, core hole MOR3 and RC hole CM01 encountered mineralized zones of silver within the vein and altered host rock. The altered zone in MOR3 returned a 95 ft intersection (true width about 60 ft.) grading 126.1 grams/tonne (g/t) silver from 325 ft to 420 ft including a higher grade zone with a weighted average of 298.2 g/t silver over 20 ft (345 ft-365 ft). The altered zone in CM01 returned a 60 ft wide (true width about 38 ft.) intersect grading 146.1 g/t silver from 340 ft to 400 ft including two higher grade zones with weighted averages of 175.5 g/t silver over 15 ft from 357 ft to 372 ft, and 325.4 g/t silver over 13 ft from 382 ft to 395 ft. Please refer to the Company's press release dated June 16, 2011 for a more detailed accounting of the drill results.

Both of the above mentioned holes were drilled to test the extension and to verify the mineralization in the area of the Mohawk Mine. From surface mapping it appears the Mohawk vein system runs for approximately 1.8 miles along strike which could lead to a considerable resource if the width and grades are comparable to the Mohawk mine area. A drill program operated by MGold is currently underway per the terms of the MGold Agreement with assay results expected in the first calendar quarter.

Exploration of the Infrastructure's NL Extension Projects Property (the "NL Project") is also encouraging. The NL Project consists of 18 mineral claims located in Esmeralda County, Nevada, approximately 6 miles southwest of Silver Peak, Nevada on Highway 47. In February 2011, SRC entered into an option and joint venture agreement (the "IMMI Agreement") with International Millennium Mining Inc. ("IMMI"), a wholly-owned subsidiary of International Millennium Mining Corp. (TSX-V: IMI) ("IMMC"), pursuant to which IMMI could earn an 85% interest in the NL Project. Under the IMMI Agreement, SRC is expected to receive US$350,000 and 1,925,000 shares of IMMC for the NL Project. The terms of the IMMI Agreement provide for payments to SRC over a five-year period with IMMI's interest in the NL Project vesting at the end of the period. If the NL Project is determined to be economically feasible, based upon criteria described in the option agreement, SRC will be required to fund its portion of the operating budget in order to retain its 15% interest in the NL Project and to acquire a 15% interest in IMMI's Nivloc Mine Project. The Company expects to report results on the project in the next 30 days.

Plans are also underway for a drill program in the first quarter of 2012 at SRC's Klondyke Project ("Klondyke"). Under the terms of the MGold Agreement described above, MGold will incur exploration expenditures totaling $1,350,000 and pay SRC $265,000 to acquire a 50% interest in Klondyke. As with Silver Queen, SRC will retain a 50% joint venture interest in Klondyke. Timelines for MGold's Klondyke expenditures and payments are the same as for Silver Queen.

Klondyke is located in the Klondyke Mining District in Esmeralda County, Nevada, 15 miles south of the town of Tonopah, Nevada. Klondyke is comprised of 134 mineral claims covering an area of approximately 2,768 acres and is situated 5 miles southeast of Allied Nevada Gold's ("ANV") Hasbrouck Property. Klondyke also abuts the southern boundary of ANV's Klondyke Flats Property.

Historic mining activity on Klondyke is evidenced by numerous prospect pits, adits and shafts. In 2006 and 2007 the Company mapped Klondyke and identified a series of high angle NE/SW trending faults in the field. Also during this mapping campaign, 5 sampling grids were established and rock chips and soil samples collected. Sampling on Grid 2 indicates silver, copper, lead and zinc anomalies generally oriented along NE trends that are in proximity to an intrusive body. In the main area of the workings, white quartz veining containing black manganese and iron oxides trend NW and is traceable for 800 ft before dipping below the overburden to the south. The veins in this area range from 5 ft to 20 ft wide and appear to be sheeted. About 200 rock samples from this program yielded encouraging silver grades from four different areas. Some elevated gold grades were noted as well.

The reader is cautioned that the terms "resource," "indicated" and "inferred" are not terms recognized by the United States Securities and Exchange Commission's (the "SEC") guidelines for disclosure of mineral properties; however, they are recognized defined terms under Canadian disclosure guidelines. Generally, "indicated" and "inferred" estimates do not rise to the level of certainty required by SEC guidelines. The mineralized material described in this press release is not considered a "reserve" as that term is used in the mining industry and in SEC disclosure guidelines.

John Harrop, P.Geo of Coast Mountain Geological Ltd., a qualified person under NI 43-101 for Infrastructure, reviewed and approved the technical disclosures of this press release on behalf of the Company.

Infrastructure Materials Corp. is an exploration stage mining company that is directing its efforts to the exploration and development, if warranted, of cement grade limestone deposits in strategic locations in the United States and Canada and precious metal properties in Nevada.

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of U.S. securities laws. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words or statements to the effect that certain events or conditions "may", "have" or "will" occur. This release also contains statements based upon historical records pertaining to our mineral claims that have not been verified by the Company. The term, "resource" is not a term that is recognized by SEC guidelines and does not rise to the level of certainty required by SEC guidelines. Forward-looking statements or references to historical records are based on the material in our possession, opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those stated or projected in this press release. The Company undertakes no obligation to update forward-looking statements or historical information. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither the 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.

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