International Enexco Limited

International Enexco Limited

July 27, 2011 09:00 ET

International Enexco to Acquire Properties of Allied Nevada at Contact, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 27, 2011) - International Enexco Ltd. (TSX VENTURE:IEC)(OTCQX:IEXCF)(PINK SHEETS:IEXCF)(FRANKFURT:IE6) (the "Company" or "Enexco") is pleased to announce that it has signed a Letter of Intent with Allied Nevada Gold Corp. ("Allied Nevada") (TSX:ANV)(NYSE Amex:ANV) to acquire the properties held by Allied Nevada in the Contact Mining District, Nevada.

The properties are being acquired from Allied Nevada in a stock transaction valued at approximately CDN$1 million, in exchange for a total of about 8,400 acres that adjoin Enexco's Contact Project. With the acquisition, Enexco will hold approximately 15,000 acres in the district within 155 patented claims and 609 unpatented lode claims. Under the Letter of Intent Allied Nevada will receive 3.2 million shares of Enexco stock.

In a 2010, NI 43-101 Updated Pre-feasibility Study on the Contact Project, resources on Enexco's property were estimated at 135 million tons at 0.26% Cu in Measured and Indicated categories, along with an Inferred Resource of 53 million tons at 0.27% Cu. Within the overall resources, a Mineral Reserve of 54 million tons of 0.29% Cu was determined.

Arnold Armstrong, Enexco's President and CEO stated that:

"The consolidation of properties is a significant step forward for the Contact Project and gives Enexco new options in exploration and development. I am pleased to have the support of Allied Nevada Gold in moving the project forward. A number of tasks are already underway for the feasibility study and permitting. We expect to have more news as to how the acquisition changes the scope of the project."

About International Enexco Ltd.

International Enexco Ltd. is a Canadian based advanced exploration and development company headquartered in Vancouver, Canada. In addition to its 100% owned advanced Contact Copper Project, in Elko County, Nevada, the Company is a 30% partner in joint-venture with Cameco Corporation (operator) and 52.5% partner and AREVA (17.5%) to explore the High-Grade Mann Lake Uranium Project in the Athabasca Basin in Saskatchewan.

For further information on all of Enexco's projects, visit our website at:

On behalf of the Board of Directors of International Enexco Ltd.

G. Arnold Armstrong, President and CEO

"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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