International Northair Mines Ltd.

TSX VENTURE : INM


International Northair Mines Ltd.

November 13, 2012 07:30 ET

Northair Intersects 95.5 g/t Silver Over 11 Metres at La Cigarra Project, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2012) - International Northair Mines Ltd. (TSX VENTURE:INM) (the "Company" or "Northair") is pleased to announce assay results from seven additional core holes completed in the Las Carolinas Zone at its La Cigarra silver project ("Property"), located in north central Mexico. This latest round of drilling is designed to tighten drill spacing in key areas important for the successful completion of the Company's ongoing resource study.

Drill Highlights:

  • Hole CC-12-112 intercepted 59.40 metres of 26.2 g/t silver, including 13.50 metres of 53.5 g/t silver and 17.25 metres of 31.1 g/t silver. This hole tested the up-dip projection of CC-12-060;
  • Hole CC-12-113 intercepted 43.80 metres of 44.6 g/t silver, including 24.00 metres of 63.5 g/t silver. This hole tested the up dip projection of hole CC-12-073;
  • Hole CC-12-114 intercepted 11.00 metres of 95.5 g/t silver. This hole is an infill hole positioned approximately 50 metres west of CC-12-065 and 150 metres southeast of CC-12-107;
  • Hole CC-12-115 intercepted 35.00 metres of 35.1 g/t silver including 9.00 metres of 65.9 g/t silver. This hole tested the up dip projection of CC-12-074;
  • Hole CC-12-116 intercepted 42.00 metres of 48.0 g/t silver, including 19.50 metres of 81.2 g/t silver. This hole tested the up dip projection of CC-12-117;
  • Hole CC-12-117 intercepted 28.50 metres of 52.7 g/t silver, including 14.00 metres of 85.4 g/t silver. This hole is an infill hole between CC-12-116 and CC-12-054;
  • Hole CC-12-118 intercepted 42.50 metres of 36.5 g/t silver, including 9.80 metres of 52.4 g/t silver and 14.50 metres of 51.8 g/t silver. This hole tested the up dip projection of CC-12-058.

To view the site plan of the Las Carolinas Zone please click on the following link: http://www.internationalnorthair.com/i/pdf/2012-11-13-Las_Carolinas_Drill_Plan_PR.pdf

These positive results obtained from our recent drilling were originally going to end our 2012 drilling season," said Fred Hewett, President & CEO of Northair. "We have now decided to continue our program and expect to complete at least 4,500 additional metres. This program is currently underway and will focus on the combined Las Carolinas and San Gregorio mineral zone to augment our data base as we move towards completion of our initial NI 43-101 resource estimate."

Drilling Update

Northair has expanded its core drill program at La Cigarra by a minimum of 4,500 metres to provide additional information for the upcoming resource estimate and to follow up on higher grade zones that have emerged during recent drilling. Additional drilling is being carried out down dip of the known silver mineralization at the San Gregorio Zone with local infill drilling at the Las Carolinas Zone. This program should be completed by the end of December 2012 and in addition to expanding the resource, will provide the Company with a better understanding of deposit geology and controls to mineralization. The La Cigarra system remains open along strike and down dip and the Company expects to continue its evaluations into 2013. Results from the drill holes completed up to year-end will be included in the Company's NI 43-101compliant resource estimate scheduled for release in Q1 2013.

To date, the Company has released data from 118 of the 127 core holes completed at La Cigarra. Assays for future holes will be released once results are received and interpreted.

Drill Results

Hole Dip From To Drill Intercept Silver Gold
(metres) (metres) (metres) g/t g/t
CC-12-112 6.00 65.40 59.40 26.2 0.032
Includes 6.00 19.50 13.50 53.5 0.043
and 41.40 58.65 17.25 31.1 0.032
CC-12-113 0.00 43.80 43.80 44.6 0.063
Includes 0.00 24.00 24.00 63.5 0.084
CC-12-114 64.00 75.00 11.00 95.5 0.096
Note 1 84.3
CC-12-115 3.00 38.00 35.00 35.1 0.047
Includes 3.00 12.00 9.00 65.9 0.045
81.10 85.70 4.60 25.5 0.033
CC-12-116 4.50 46.50 42.00 48.0 0.048
Includes 13.50 33.00 19.50 81.2 0.055
CC-12-117 57.00 85.50 28.50 52.7 0.043
Note 1 51.7
Includes 69.00 83.00 14.00 85.4 0.042
CC-12-118 24.00 66.50 42.50 36.5 0.051
Includes 24.00 33.80 9.80 52.4 0.069
and 52.00 66.50 14.50 51.8 0.047
77.60 86.60 9.00 15.0 0.029
97.50 101.50 4.00 42.2 0.016
109.90 111.00 1.10 72.6 0.015

Note 1: Intervals with silver values greater than 500 g/t reported as 500 g/t.
Note 2: Reported widths may contain intervals with values less than 10g/t silver.
Note 3: Intervals also contain lead and zinc values.

Sampling and QA/QC

All technical information for the La Cigarra exploration program is obtained and reported under a formal quality assurance and quality control (QA/QC) program. Samples are taken under the direction of qualified geologists and stored in sealed bags. Samples are delivered by the Company via courier to ALS Minerals ("ALS") in Chihuahua and Inspectorate America Corporation ("Inspectorate") in Durango City. In both cases the samples are dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS to Vancouver, B.C. and by Inspectorate to Vancouver, B.C. or Reno, Nevada. Systematic assaying of standards and blanks are performed for precision and accuracy. Analysis for silver, zinc, lead and copper and related trace elements was done by ICP four acid digestion, with gold analysis by 30 gram fire assay with an AA finish.

About the La Cigarra Silver Project

The La Cigarra Project is located in the state of Chihuahua along the eastern fringes of the Sierra Madre Occidental in Mexico. Local topography is gentle with good road access to the major city of Parral, located 26 kilometres to the south east. The 32,064 hectare property position controls an emerging mineral district with permissive geology and numerous historical mine workings. Of immediate significance is the San Gregorio/Las Carolinas area where an initial resource estimate is being calculated. Further exploration and infill drilling is presently underway with the objective of providing sufficient data to expand the property resource and define additional targets for drilling.

This news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and approved by Fred Hewett the Company's President and CEO, and a Qualified Person under NI 43-101.

ON BEHALF OF THE BOARD,

INTERNATIONAL NORTHAIR MINES LTD.

Fred G. Hewett, P.Eng., President & CEO

This news release may contain forward-looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See Northair's filings for a more detailed discussion of factors that may impact expected results.

This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither 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 news release.

Contact Information

  • International Northair Mines Ltd.
    Fred Hewett
    President
    604-687-7545 or 1-888-338-2200

    International Northair Mines Ltd.
    Chris Curran
    Manager of Corporate Communications
    604-687-7545 or 1-888-338-2200

    International Northair Mines Ltd.
    Brent Levenstadt
    Investor Relations Associate
    604-687-7545 or 1-888-338-2200
    604-689-5041 (FAX)
    info@northair.com
    www.northair.com/international/