VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 3, 2016) - IDM Mining Ltd. (TSX VENTURE:IDM) ("IDM" or the "Company") is pleased to announce that, effective March 1, 2016 it has entered into a professional advisory agreement with Red Cloud Mining Capital Inc. ("Red Cloud"), whereby Red Cloud will provide capital market advisory services to the Company.
Pursuant to the advisory agreement entered into between the Company and Red Cloud, Red Cloud will provide the services outlined in the agreement for a period of three months, renewable month to month thereafter, for a retainer fee of $7,500 per month. The fee will consist of (a) $2,500 payable in cash, plus (b) the equivalent of $5,000 in shares of the Company, subject to final approval by the TSX Venture Exchange, the number shares calculated for each month based on the closing price of the last day of the month prior.
In addition, the Company is pleased to announce that it will be a featured presenter at the Red Cloud Pre-PDAC Mining Showcase on March 4, 2016. Rob McLeod, CEO and President, will provide an update on IDM Mining and its advanced-stage, high-grade Red Mountain gold project, located in the Golden Triangle of northwest BC. Also an update on compilation efforts on IDM's extensive gold exploration portfolio in Yukon.
ABOUT RED MOUNTAIN
IDM Mining is currently earning an option to acquire a 100% interest in the 17,125 hectare Red Mountain property, located 18 kilometers northeast of Stewart, BC. Numerous gold and silver deposits and exploration prospects have been identified by IDM and previous operators over a 15 km by 4 km trend of strong alteration and mineralized prospects. Since discovery in 1989, in excess of $45 million has been spent on the Project, including a production-sized underground ramp, extensive engineering and design studies and environmental assessment work.
ABOUT IDM MINING LTD.
IDM Mining Ltd. is a mineral exploration and development company based in Vancouver, BC, Canada. The Company's current exploration and development activities are focused on precious metals in British Columbia and Yukon with a primary focus on the high grade underground Red Mountain Project, which is currently engaged in the BC and Canadian environmental assessment processes. Further information can be found on the Company's website at www.IDMmining.com
ON BEHALF OF THE BOARD of IDM Mining Ltd.
Robert McLeod, President, CEO and Director
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."