Vancouver - Sept 14, 2023 - International Metals Mining Corp. (the "Company or International Metals") (TSXV:IMM) (OTC:CYNXF) (FSE:C2YD) is pleased to announce that it has applied to list its common shares ("Common Shares") on the NEO Exchange Inc. (operating as Cboe Canada) ("CBOE"), a tier one senior Canadian stock exchange ("Listing").
Listing on CBOE is subject to the Company fulfilling listing requirements. In connection with the anticipated migration to CBOE, the Company will, upon receipt of all required approvals, arrange for the delisting of its Common Shares from the TSX Venture Exchange ("TSXV"). This anticipated transition is not expected to impact current investors' ability to trade Common Shares of International Metals, and the Company notes that its Common Shares continue to trade on the TSXV pending the intended migration.
"We are very excited about the Company's trajectory and the potential to have our shares listed on a tier one senior Canadian stock exchange. On the operational side, our goal is to continue to advance our drill-ready copper-gold porphyry property in Peru, and for our experienced Brazilian team to start exploring our newly-acquired mineral claims in Brazil's Lithium Valley", stated Brian Thurston, President. "Sigma Lithium Corp.'s announcement yesterday(1), that it has received multiple strategic proposals for its assets, including the Brazilian company Sigma Mineracao (Sigma Brazil), as well as for the Grota do Cirilo project, located just 11 kilometers from International Metals' mineral claims, is just one more confirmation from leading global companies that International Metals is in the right place at the right time."
On May 4, 2023, the Company acquired an option to secure a 65% right, title and interest in and to mining claims in the state of Minas Gerais, Brazil which comprise 12 claims totaling 21,136.73 hectares of surface area (see press release dated May 4, 2023). On July 12, 2023, the Company announced that it had entered into a mining claims purchase agreement to which it would acquire a 60% right, title, and interest to a further 26 mineral claims totaling 39,596.63 hectares in Minas Gerais, Brazil (see press release dated July 12, 2023) (the "Second Acquisition").
Once the Second Acquisition completes, the Company would control 38 mineral rights totalling 60,733.36 hectares strategically located in Brazil's Lithium Valley (Figure 1), approximately 11 kilometers east from both Sigma Lithium Corporation's ("Sigma") Groto do Cirilo Project, and Lithium Iconic Inc.'s Itinga Project, and 13 kilometers east of Atlas Lithium Corp.'s ("Atlas Lithium") Neves Project. Sigma's properties are in the municipalities of Araçuaí and Itinga, approximately 450 kilometres northeast of the state capital of Belo Horizonte. Sigma holds 27 mineral rights in four properties spread over 19,100 hectares, which include nine past-producing lithium mines. Atlas Lithium controls approximately 24,233 hectares of mineral rights in Lithium Valley.
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The Panteria copper-gold porphyry project (the "Project") is located approximately 210 kilometres southeast of Lima, Peru, in the Huancavelica department, and is considered highly prospective for both copper-gold ("Cu-Au") porphyry-style mineralization and high-level gold-silver (Au-Ag) epithermal mineralization. Approximately US $5 million has been spent to date on the Project that has several untested exploration targets.
The Project is composed of several mineral concessions covering an area of 2,700 hectares and is believed to be situated in the northern extension of the Southern Coastal porphyry belt. The project has seen extensive surface sampling, mapping programs, and a geophysical program in 2014. First Quantum Minerals Ltd. ("First Quantum") explored the area from 2016 to 2018. A total of 8,699 metres were drilled on the Project by First Quantum in 11 holes that encountered porphyry-style mineralization and alteration over a minimum 1,300-metre horizontal extent and over a 700-metre vertical extent in the subsurface. Five main mineralized zones were identified on the Project: the Kisosko, El Corral, NW Corral, La Quebrada and Renaldo zones. To date the El Corral and NW Corral zones have proven the most prospective for Cu-Au porphyry mineralization while the Renaldo and Kiosko zones are considered high-level Au-Ag precious metal targets and have not been drill tested.
The untested Renaldo zone is considered a gold-silver precious metal target, located 4.5 kilometres east of the main Panteria zone. Since 2014, a total 323 rock samples have been taken from this prospective zone covering an area measuring one by two kilometres. Ronaldo zone sampling and mapping encountered gold and silver mineralization in a high-sulphidation lithocap that is hosted in shallow-dipping volcanics at higher elevations.
The scientific and technical information contained in this news release was reviewed and approved by Brian Thurston, who is a "Qualified Person" for purposes of National Instrument 43-101, and is the Company's Chief Executive Officer and a Director.
(1)Sigma Lithium press release Sept 13, 2023
About International Metals Mining Corp.
International Metals Mining Corp. is a Canadian company engaged in the acquisition, exploration, and development of mineral properties focusing on battery metals and mineral assets. The Company has acquired assets in some of the world's most prolific mining jurisdictions with a copper-gold porphyry property in Peru and with very prospective lithium properties in Brazil's growing lithium provinces.
International Metals Mining Corp.
Per: "Brian Thurston"
President and CEO
Tel: +1 778 928-6565
Statement regarding forward-looking information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and include statements relating to: approval from CBOE, if it is to be received at all; ?completion of the Listing (including fulling CBOE's listing requirements), and the timing thereof, if it is to occur at all; the delisting the Company's Common Shares on the TSXV and the timing thereof; anticipated benefits in connection with the Listing; the completion of the Second Acquisition, and any new mineral discoveries on the Company's properties within Brazil's Lithium Valley, and the timing thereof. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes on the Company's properties, and continued availability of capital and financing, and general economic, market or business conditions, laws in the jurisdictions where the Company operates. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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