SOURCE: International Minerals Corporation

April 25, 2008 08:30 ET

International Minerals and Other Mining Companies Meet With President Correa and Top Officials; Correa Says Responsible Mining Will Go Ahead in Ecuador

SCOTTSDALE, AZ--(Marketwire - April 25, 2008) - International Minerals Corporation (TSX: IMZ) (SWX: IMZ) (FRANKFURT: MIW) (the "Company") announced that the Company and seven other mining companies, Aurelian Resources Inc., Corriente Resources, IAMGOLD, Cornerstone Capital Resources, Dynasty Metals & Mining, Ecometals Limited, and Salazar Resources collectively met with President Correa and other top officials yesterday afternoon, April 24, in Quito to discuss the future of mining in Ecuador and the impact of the previously announced Mining Mandate.

The companies welcomed President Correa's repeated statements that responsible mining will go ahead in Ecuador. He said that the purpose of the Mining Mandate was to allow the government time to draft and implement a new mining law so that responsible mining can proceed. The President invited the mining companies to meet with the ministry to help formulate the new mining law starting this Monday, April 28.

Present from the government were President Rafael Correa; Dr. Galo Chiriboga, Minister of Mines and Petroleum; Dr. Jose Serrano, Deputy Secretary of Mines; Augustin Paladines, Mining Advisor to the President; Fernando Alvarado, Advisor to the President; Ricardo Patiño, Minister of Politics and Dr. Ramon Torres, Business Advisor to the President. The Canadian Ambassador to Ecuador Christian LaPointe accompanied the companies and presented concerns of the Canadian government for a fair, stable and long-term investment environment in Ecuador.

IMZ continues to seek clarity from the government regarding the Mining Mandate's specific application to each company's operations and will issue updates as information becomes available.

Forward-Looking Statement

Some of the statements contained in this release are "forward-looking statements" within the meaning of Canadian securities law requirements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding drilling and development programs on the Company's projects, timing of commencement of production, completion of feasibility studies, obtaining of required environmental and production permits, and timing and significance of future cash flows from operations. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: political and regulatory risks; risks relating to obtaining mining and environmental permits; mining and development risks; risk of commodity price fluctuations; risks of concession titles; and other risks and uncertainties detailed in the Company's Renewal Annual Information Form for the year ended June 30, 2007, which is available at www.sedar.com under the Company's name. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information