International Mining Corp. to commence trading on the Canadian Securities Exchange under the Symbol IMCX
IMC is a junior exploration and development company with a focus on gold assets
VANCOUVER, British Columbia, Sept. 24, 2019 (GLOBE NEWSWIRE) -- International Mining Corp (CSE: IMCX) (the “Company” or “IMC”), announces it will commence trading on the Canadian Securities Exchange under the symbol IMCX on Tuesday, September 24, 2019. The Company will focus on acquiring, exploring and developing gold assets, including its 100% owned Bullard Pass Property which is a located in west-central Arizona within the Pierce Mining District in Yavapai County.
The Bullard Pass Property is comprised of 171 unpatented federal lode claims and was first acquired by IMC’s wholly owned subsidiary, Canadian Mining of Arizona, Inc. in 2007. Since that time a series of exploration programs that included orientation, lithogeochemical sampling, enzyme leach soil sampling, and diamond drilling of 8 holes have been completed on the property. IMC has been in the process of verifying historic work associated with the property. In particular, IMC has just completed an August-September, Mobil Metal Ions (MMI), soil-sampling program that covered a portion of the previously sampled enzyme leach grids. The purpose of this program was to compare soil-sampling methods of the Quaternary surficial deposits.
The regional setting of the Bullard Pass gold project is typical of detachment fault gold deposits and has geological, mining and metallurgical similarities to the Mesquite Mine in California.
The Company is planning an exploration program for the fall of 2019 and expects to update the market in the coming weeks of its operations. Simultaneous with the Bullard Pass exploration, the Board of Directors is actively reviewing new opportunities for project generation and continued financing to create shareholder value.
The Company will be led by: Brian Thurston, who has appointed Chief Executive Officer, President and Director; Eli Dusenbury who has been appointed Chief Financial Officer; and Dave McMillan and Mike Aujla who have been appointed as Independent Directors.
The Company raised and closed $415,000 CAD in funding and secured a $400,000 CAD operating draw down line of credit. The Company has 11,546,621 shares issued and outstanding as of September 24, 2019, of which, 5,940,000 shares from a previously announced (April 18, 2019) private placement have been voluntary placed under escrow restrictions and will be released over 36 months. A further 3,063,114 shares have also been escrowed under CSE rules and have a 36-month release provision.
Brian Thurston, P. Geo., a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation of or approved the scientific and technical disclosure contained in this news release
ON BEHALF OF THE BOARD OF DIRECTORS
Brian Thurston
Chief Executive Officer and President
ABOUT INTERNATIONAL MINING CORP.
IMC International Mining Corp. is a junior exploration and development company. It is focused on creating shareholder value through the acquisition, exploration and development of gold assets, which include the Company’s 100% owned Bullard Pass Property in Arizona.
IMC is currently evaluating other additional properties to add to its portfolio of mining assets.
INVESTOR RELATIONS:
ir@imcorp.ca
1 (604) 588-2110
imcorp.ca
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business plans and prospects and the future of the Company’s business, the acquisition, exploration and development of it assets, the ability to create shareholder value and the date upon which the Company commences trading on the Canadian Securities Exchange. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's plans and prospectus will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Accordingly, readers should not place undue reliance on forward-looking information. The statements in this news release are made as of the date of this release.
The CSE has not reviewed, approved or disapproved the content of this press release