International Minerals Corporation
FRANKFURT : MIW
TSX : IMZ
Swiss : IMZ

International Minerals Corporation

September 06, 2007 08:30 ET

International Minerals Reports Additional Drill Results from Gaby

Results Include 48m at 1.7g/t Gold and 35m at 1.5g/t Gold

SCOTTSDALE, ARIZONA--(Marketwire - Sept. 5, 2007) - International Minerals Corporation ("IMC") (TSX:IMZ)(SWX:IMZ)(FRANKFURT:MIW) has received assay results from an additional 38 core drill holes totaling 10,905 meters ("m") at its Gaby gold porphyry project in southern Ecuador. This drill program is a part of an estimated 25,000m drill program required for an independent preliminary feasibility study, which is expected to be announced in early 2008. To date, IMC has received results for 81 drill holes (totaling 21,335m) of feasibility drilling.

Feasibility Drill Results

The drill results received to date generally confirm the continuity and grade of the two main mineralized areas: the Main Gaby Deposit and the Papa Grande Deposit. Significant intercepts are shown in the attached Table 1 and drill-hole locations are shown on the attached map (to view map please click on the following link: http://www.ccnmatthews.com/docs/IMZ0906.pdf). Highlights of the drill results include:

1. Papa Grande Deposit:

- 48.0m grading 1.7 grams per tonne ("g/t") gold in drill-hole PPG-056

- 40.0m grading 1.4 g/t gold in drill-hole PPG-051

- 36.0m grading 1.4 g/t gold in drill-hole PPG-052

- 54.0m grading 1.2 g/t gold in drill-hole PPG-047

- 44.1m grading 1.2 g/t gold in drill-hole PPG-048

- 32.0m grading 1.1 g/t gold in drill-hole PPG-054

2. Main Gaby Deposit:

- 35.0m grading 1.5 g/t gold in drill-hole GBY-042

- 42.1m grading 1.3 g/t gold in drill-hole GBY-032

- 42.5m grading 1.1 g/t gold in drill-hole GBY-034

- 98.0m grading 1.0 g/t gold in drill-hole GBY-047

- 38.0m grading 1.0 g/t gold in drill-hole GBY-037

Due to the broad irregular shape and sub-vertical control to the gold mineralization at the Papa Grande Deposit, drill intercept thicknesses can be equated to approximately 80% of the true thickness of the mineralization in most cases. Due to the disseminated nature of the gold mineralization at the Main Gaby Deposit, drill intercept thickness can generally be equated to true thickness.

Update on Preliminary Feasibility Study

A preliminary feasibility study is expected to be issued by IMC for the Gaby project early in 2008. The study will define the mineral resource and reserve estimates, as well as the processing option most suitable for the Gaby project, detailed site investigations for the surface facilities (such as waste rock dump, tailings disposal facility) and surface water management structures. The location of the process plant itself will require additional sterilization drilling and geotechnical test-work, which will be carried out as part of a final feasibility study, which would commence at the completion of a positive preliminary feasibility study.

Historical metallurgical test-work by IMC (up to 1997) had focused primarily on a conventional agitation leaching recovery process using grinding/cyanide/Carbon-in-Leach (CIL). Additional test-work is ongoing by IMC to evaluate a relatively coarse (secondary crushed) heap leach option as well as the possibility of recovering a flotation concentrate in addition to the agitation leaching circuit. An update on the metallurgical test-work will be provided by IMC in the fourth quarter of 2007.

There are currently three drill rigs operating at Gaby focused on resource definition drilling at the Main Gaby Deposit. This drilling is expected to be completed by the end of September. Resource drilling is now complete for the Papa Grande Deposit for the purposes of expediting the completion of the preliminary feasibility study The mineralization, however, remains open to the southwest, east and at depth and these extensions will be drill-tested at a later date for inclusion in a final feasibility study. Final assay results are awaited for the most recent Papa Grande drilling.

The geotechnical drilling campaign to determine pit-wall stability and define sub-surface water quantity and quality has been completed for the area of the Main Gaby Deposit, but several of these drill holes (GBY-26 and 28-30) have not yet been sampled as the core may be needed for additional geotechnical test-work.

The preliminary feasibility study is being compiled by IMC by using independent sub-contractors for each field of expertise. The resource estimation will be conducted by FSS Canada Consultants Inc. (Douglas Hartzell and Mohan Srivastava) of Toronto, Canada. Pit optimization and design will be conducted by the Mine Planning Group (Howard Steidtmann) of Stateline, Nevada, USA. Water Management Consultants of Santiago, Chile are responsible for surface and sub-surface hydrology and pit-wall stability (together with Wardrop Engineering, Inc of Sudbury, Canada) and also for tailings and waste rock disposal facilities location and design. Metallurgical process design will be conducted by consultant, Tony Brown of San Mateo, California, USA. The study will be reviewed by Micon International Ltd of Toronto, Canada, who will also compile the required National Instrument NI 43-101 Technical Report following completion of the preliminary feasibility study. Independent consultants FSS Canada, Howard Steidtmann and Micon will act as Independent Qualified Persons for their respective technical fields with respect to the Technical Report.

General

Drilling at the Gaby Project was carried out by Paragon Drilling Ecuador S.A. Sample preparation was carried out by ALS Chemex in Quito, Ecuador using standard industry practices. Analytical work was carried out by ALS Chemex in Vancouver, Canada and Lima, Peru using conventional fire assay methods for gold. For quality control purposes, analytical standards with known metal values were included with IMC's samples submitted for assay and show good reproducibility. Duplicate analyses of selected drill-hole intervals have been sent to a second independent assay facility (CCI of Kellogg, Idaho) and results are pending. The overall drilling program was supervised by IMC's Qualified Person, Technical Manager, Nick Appleyard.

ON BEHALF OF THE BOARD

Stephen J. Kay, President and CEO



------------------------------------------------------------------
Table 1
Gaby Project
Drill Intersections & Average Grades
(International Minerals Corporation - Sept 6, 2007 news release)
------------------------------------------------------------------
Gold
Interval Length Grade
Drill Hole # (Depth-m) (m) (m) (g/t)
------------------------------------------------------------------
PAPA GRANDE DEPOSIT
------------------------------------------------------------------
PPG045 (283.3m) 174.0 - 184.0 10.0 0.9
200.7 - 212.0 11.4 1.2
------------------------------------------------------------------
PPG046 (200.7m) 108.0 - 112.0 4.0 1.5
------------------------------------------------------------------
PPG047 (191.7m) 0.0 - 54.0 54.0 1.2
includes 0.0 - 16.0 16.0 2.4
174.4 - 188.0 13.7 1.4
------------------------------------------------------------------
PPG-048 (380.6m) 2.0 - 16.0 14.0 0.7
27.9 - 72.0 44.1 1.2
includes 30.0 - 46.2 16.2 2.4
------------------------------------------------------------------
PPG049 (199.2m) 100.0 - 106.0 6.0 0.8
------------------------------------------------------------------
PPG050 (303.9m) 14.0 - 46.0 32.0 0.8
includes 30.0 - 40.0 10.0 1.1
90.0 - 106.0 16.0 0.9
------------------------------------------------------------------
PPG051 (215.6m) 32.0 - 72.0 40.0 1.4
includes 52.0 - 68.0 16.0 2.6
------------------------------------------------------------------
PPG052 (284.9m) 16.2 - 52.2 36.0 1.4
248.0 - 264.0 16.0 1.4
includes 260.5 - 264.0 3.6 3.8
------------------------------------------------------------------
PPG053 (189.9m) 116.0 - 150.0 34.0 0.8
------------------------------------------------------------------
PPG054 (229.2m) 188.0 - 220.0 32.0 1.1
------------------------------------------------------------------
PPG055 (170.5m) 48.0 - 54.0 6.0 0.7
------------------------------------------------------------------
PPG056 (163.1mm) 26.7 - 62.0 35.4 0.6
80.0 - 128.0 48.0 1.7
includes 120.0 - 128.0 8.0 6.3
146.0 - 152.0 6.0 1.6
------------------------------------------------------------------
PPG057 (258.0m) No Significant Intervals
------------------------------------------------------------------
PPG058 (155.7m) 0.0 - 28.0 28.0 1.3
46.0 - 60.3 14.3 1.8
------------------------------------------------------------------
PPG059 (354.0m) No Significant Intervals
------------------------------------------------------------------
PPG060 (186.4m) 50.0 - 72.0 22.0 0.7
78.0 - 88.0 10.0 1.3
128.0 - 152.0 24.0 1.5
------------------------------------------------------------------
PPG061 (154.1m) 0.0 - 10.0 10.0 0.9
------------------------------------------------------------------
PPG062 (295.8m) 20.0 - 26.0 6.0 0.9
------------------------------------------------------------------
PPG063 (149.7m) 55.0 - 62.0 7.0 1.3
------------------------------------------------------------------
PPG064 (149.2m) 118.1 - 122.2 4.1 1.0
------------------------------------------------------------------

MAIN GABY DEPOSIT
------------------------------------------------------------------
Gold
Interval Length Grade
Drill Hole # (Depth-m) (m) (m) (g/t)
------------------------------------------------------------------
GBY031 (1000.0m) 0.0 - 20.0 20.0 0.7
158.0 - 174.0 16.0 1.1
210.0 - 220.0 10.0 1.5
248.0 - 296.0 48.0 0.6
580.0 - 746.0 166.0 0.5
------------------------------------------------------------------
GBY032 (830.4m) 198.0 - 208.0 10.0 1.2
256.0 - 298.1 42.1 1.3
334.0 - 342.0 8.0 1.1
364.0 - 464.0 100.0 0.8
470.0 - 520.0 50.0 0.7
688.0 - 708.0 20.0 1.2
712.0 - 730.0 18.0 1.5
------------------------------------------------------------------
GBY033 (75.0m ) 15.0 - 72.0 57.0 0.6
------------------------------------------------------------------
GBY034 (307.0m) 26.7 - 69.1 42.5 1.1
72.0 - 104.0 32.0 0.7
114.0 - 130.0 16.0 1.5
------------------------------------------------------------------
GBY035 (300.0m) 0.0 - 5.7 5.7 1.2
246.0 - 298.0 52.0 0.8
includes 278.0 - 286.0 8.0 1.9
------------------------------------------------------------------
GBY036 (289.0m) 0.0 - 13.2 13.2 2.4
244.0 - 276.0 32.0 0.6
------------------------------------------------------------------
GBY037 (299.0m) 191.6 - 216.0 24.4 0.9
232.0 - 270.0 38.0 1.0
------------------------------------------------------------------
GBY038 (324.0m) 0.0 - 34.0 34.0 0.6
98.0 - 144.0 46.0 0.6
278.0 - 316.0 38.0 0.6
------------------------------------------------------------------
GBY039 (224.6m) No Significant Intervals
------------------------------------------------------------------
GBY040 (340.8m) 132.0 - 156.0 24.0 0.5
220.0 - 232.0 12.0 0.9
260.0 - 322.0 62.0 0.6
------------------------------------------------------------------
GBY041 (321.0m) 176.0 - 226.0 50 0.7
includes 206.0 - 214.0 8.0 1.0
289.8 - 320.0 30.3 0.6
------------------------------------------------------------------
GBY042 (362.3m) 0.0 - 56.0 56.0 1.0
125.0 - 160.0 35.0 1.5
includes 154.0 - 158.0 4.0 5.4
------------------------------------------------------------------
GBY043 (272.0m) 0.0 - 26.0 26.0 0.5
------------------------------------------------------------------
GBY044 (300.0m) 30.0 - 300.0 270.0 0.9
includes 30.0 - 70.0 40.0 2.3
which includes 46.0 - 46.8 0.8 42.2
------------------------------------------------------------------
GBY045 (295.1m) 0.0 - 14.7 14.7 0.5
258.0 - 266.0 8.0 2.1
------------------------------------------------------------------
GBY046 (303.0m) 0.0 - 9.0 9.0 4.8
86.0 - 186.0 100.0 0.7
200.0 - 224.0 24.0 0.8
------------------------------------------------------------------
GBY047 (246.3m) 0.0 - 98.0 98.0 1.0
122.0 - 134.0 12.0 1.7
190.0 - 220.0 30.0 0.5
------------------------------------------------------------------
GBY048 (300.0m) 98.0 - 112.0 14.0 0.9
142.0 - 160.0 18.0 1.5
170.0 - 196.0 26.0 0.9
222.0 - 274.0 52.0 0.9
includes 250.0 - 260.0 10.0 1.6
294.0 - 300.0 6.0(i) 1.3(i)
------------------------------------------------------------------

(i) Drill hole ended in mineralization

Note: Drill holes GBY 26, 28, 29 and 30 (total of 1,002 m) were
drilled for geotechnical purposes only and were not assayed. These
drill holes are not included in the meterage totals on page 1of
this news release.

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