SOURCE: International Minerals Corporation

International Minerals Corporation

November 16, 2011 18:00 ET

International Minerals Reports Results of Annual and Special Meeting of Shareholders Held on November 11, 2011

SCOTTSDALE, AZ--(Marketwire - Nov 16, 2011) - International Minerals Corporation (TSX: IMZ) (SWISS: IMZ) (the "Company" or "IMZ") announces the results of the Company's Annual and Special meeting of Shareholders held on November 11, 2011 in Scottsdale, Arizona.

The Company is pleased to report that all matters put to shareholders as recommended by management were approved by the shareholders of the Company.

The following individuals were re-elected as directors: Stephen Kay, Michael Smith, Jorge Paz Durini, Gabriel Bianchi, Roberto Baquerizo, and Rod McKeen.

In addition to the six individuals who were re-elected as directors, the Company is very pleased to announce the appointment of Mr. John W.W. Hick as a new director. Mr. Hick brings extensive executive management experience to the Company's Board, having been a senior executive in the mining industry for over 30 years, including tenures with Placer Dome, TVX, Rio Narcea and Medoro Resources. Mr. Hick is also a director of a number of other mining companies.

The shareholders of the Company also approved an increase in the number of common shares reserved for issuance pursuant to the Company's Incentive Share Option Plan to 12,500,000 common shares from 10,500,000 common shares and, the re-appointment of Davidson & Company, LLP as the independent auditors for the Company.

About International Minerals

International Minerals is a silver-gold producer, explorer and developer with silver and gold production from its 40%-owned Pallancata Mine in Peru, which is operated by Hochschild and is one of the top-5 primary silver mines in the world. Production at Pallancata in calendar year 2010 was approximately 10.1 million ounces of silver and 36,000 ounces of gold (on a 100% project basis).

In addition to the Pallancata Mine and a 40% interest in the development-stage Inmaculada gold-silver project (also in Peru and operated by Hochschild and which is scheduled to commence production in late 2013), IMZ also owns 100% ownership interests in development-stage gold projects in Nevada (Goldfield and Converse) and variable interests in development-stage gold projects in Ecuador (Rio Blanco and Gaby).

The Company also owns a 3% net smelter return royalty from Barrick's Ruby Hill gold mine in Nevada, which produced approximately 80,000 gold ounces in 2010.

IMZ has been listed on the Toronto Stock Exchange since 1994 and the Swiss Stock Exchange since 2002.

Contact Information

  • For additional information, contact:

    In North America
    Paul Durham
    Vice President Corporate Relations
    Tel: +1 203 883 8359

    In Europe
    Oliver Holzer
    Marketing Consultant
    +41 44 853 00 47

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