International Millennium Mining Corp.

International Millennium Mining Corp.

April 23, 2007 09:00 ET

International Millennium Commences Work on Cobalt Ontario and Mina Nevada Properties, Adds Claims in Nevada and Grants Incentive Stock Options

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 23, 2007) - International Millennium Mining Corp. ("IMMC" or the "Company") has commenced geophysical programs on both its Cobalt Area property in Ontario and on its Simon Mine property near Mina, Nevada.

On the Company's Cobalt property, Geotronics Consulting Inc. of Surrey, B.C., is completing line cutting in preparation for the UTEM geophysical survey portion of the program. These claims, newly acquired from Cabo Drilling Corp., are located in the historic Cobalt mining area, on ground highly prospective for silver and polymetalic mineralization. Data from the program will be compared to earlier and follow-up MMI survey work on the property with a view to identifying drill targets for a summer drill program.

At IMMC's Simon Mine property near Mina, Nevada, SJ Geophysics Ltd. of Delta, British Columbia, is completing 40km of 200 meter spaced lines and 5km of 100 meter spaced lines of a 3D Induced Polarization/Resistivity survey. The Company added some 22 mineral claims to the Simon property and has also staked, 18 B&G Mable Group claims and 44 Warrior Group claims in Mineral and Nye Counties, located near the Mable and Warrior mines respectively, both proximate to the Simon Mine.

Cobalt Area Property

In a policy NI 43-101 compliant Technical Report, James G. Burns B.Sc., P.Eng. a Qualified Person under the policy, describes the Cobalt area as "...the "Silver Capital of Canada" as a result of significant silver production from over 70 mines between 1904 and 1992. Production amounted to about 500 million oz. (1.55 billion grams) of silver along with about 50 million lbs. (22.68 million kg) of cobalt, 3.1 million lbs. (1.4 million kg) of nickel, 3.25 million lbs. (1.48 million kg) of copper, and 1.23 million lbs. (0.56 million kg) of lead."

About the IMMC ground Mr. Burns says, "Four past producing mines with production ranging from approximately 1,400 to 495,000 oz. of Ag, at least 20 old exploration shafts, three adits, and literally thousands of exploration pits and trenches occur on the properties" adding:

"The (Company's) lands are subdivided into 6 blocks (the properties), and were acquired ...by option and staking. Exploration to date has focused on three principal targets: (i) historic Cobalt-type arsenide silver-cobalt vein deposits; (ii) diamond deposits associated with kimberlite and lamprophyre intrusions; and (iii) volcanic-associated massive sulphide (VMS) base metals and/or gold deposits."

The Company is presently focusing its attention on targets (i) and (ii), historic Cobalt arsenide silver-cobalt vein deposits; and volcanic-associated massive sulphide (VMS) base metals and/or gold deposits.

Simon Mine Property

Historical records indicate that the Simon Mine produced at least 95,838 tons of material grading 3.2 oz/ton Ag, 4.8% Pb and 5.4% Zn between 1921 and 1932, and between 1963 and 1968. Reports on the Simon Mine by previous explorers and operators indicate that additional mineralized zones were developed or driven through by the underground workings but never mined. Several "reserve" estimates were produced by (these) various parties during the operational life of the Simon Mine. None are NI 43-101 qualified." writes geologist, Seymour M. Sears, P.Geo. in his NI 43-101 compliant Technical Report on the Simon Mine Property. Adding "The property contains at least 16km of underground workings completed at various times between 1916 and 1968."

Sears further states, "The property covers over 7,000 feet (2,200 m) of the favourable Jurassic aged limestone unit as well as a complex array of fault structures. Much of the favourable environment lies beneath shallow, relatively flat lying, tertiary aged volcanic rocks. Very little diamond drilling has been completed within the property. A two-phased exploration program designed to test areas of known mineralization and look for undiscovered zones is recommended." Phase I of the recommended programs includes the geophysical work presently underway.

Complete copies of both the Cobalt and Simon Mine reports can be viewed on SEDAR and on the Company's web-site (www.immc.ca).

Stock Options

IMMC also announces that it will grant three year incentive stock options, under terms of its Stock Option Plan, to its employees, officers, directors and consultants for the right to purchase up to 1,200,000 shares of the Company at $0.40 per share on or before May 1, 2010. With the granting of these options the Company would have up to 2,110,000 director, employee, officers or consultants stock options outstanding.

International Millennium Mining Corp. is a mineral exploration and development company engaged in the acquisition and exploration of mineral properties in Canada and the Americas. To date the Company has acquired and is exploring mineral properties in British Columbia and Ontario, Canada; Nevada, USA; and Sonora State, Mexico. Emerging mineral targets include silver, gold, cobalt, molybdenum, zinc, lead, nickel, copper and platinum group metals.

ON BEHALF OF THE BOARD,

John A. Versfelt, President & CEO

Further information about the Company can be found on SEDAR (www.sedar.com).

The Exchange has not in any way passed upon the merits of this news release. 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.

Contact Information

  • International Millennium Mining Corp.
    Mr. John A. Versfelt
    President & CEO
    (604) 984-9907
    (604) 983-8056 (FAX)
    or
    International Millennium Mining Corp.
    Mr. D. Alex Caldwell
    Corporate Secretary
    (604) 984-9907
    (604) 983-8056 (FAX)
    Email: info@immc.ca
    Website: www.immc.ca