IMC International Mining Corp. to Release Results From Thane Property Work Program and Provides Corporate Update

Rhea-AI Summary

IMC International Mining Corp. (OTC PINK: IMIMF) announced the ongoing analysis of summer work program results from the Thane Property. The company is financially stable, with no debt and access to up to $8M in equity funding. It has appointed Dave McMillan as Interim CEO following Brian Thurston's resignation. McMillan brings over 40 years of experience in mining and finance. Additionally, IMC granted 1M stock options to directors. The Thane Property, located in British Columbia, covers 206 km² and is strategically situated between two major mines.

Positive

• Company has no debt and $8 million available in equity funding.
• Appointment of experienced Interim CEO Dave McMillan, enhancing management capability.
• Thane Property strategically located between major copper-gold deposits, providing potential for mineral discovery.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / November 9, 2020 / IMC International Mining Corp. (CSE:IMCX) (OTC PINK:IMIMF) (FRA:3MX) (the "Company" or "IMC"), is pleased to advise that the results of the Thane Property summer work program are currently being received and analyzed by the IMC's exploration consultants and we expect to report their conclusions in the very near future. Presently, the Company is in a good cash position with no debt and still has access up to $8,000,000 in an equity draw down with Alumina Partners Inc. IMC has targeted additional exploration opportunities in Canada with particular emphasis on B.C and will immediately report any acquisitions as they arise.

The Company also announces the appointment of Dave McMillan as Interim Chief Executive Officer in addition to his current role as Interim President and as a director of the Company. This appointment is a result of the resignation of Brian Thurston as Chief Executive Officer and as a Director in order to pursue his other business opportunities. The company thanks Mr. Brian Thurston for his time and effort he put into the company.

Mr. McMillan has been involved in the mining and financial markets for over 40 years and has, since his retirement from the securities industry in 2000, held numerous director and executive roles in public and private companies. During his 17 years in the securities industry, Mr. McMillan was an investment adviser, vice-president, director and senior partner at one of the top private brokerage firms in Canada. During this time, Mr. McMillan was instrumental in the financing of many junior exploration companies in North America and South America, including the junior exploration companies that originally discovered the mineral resources that led to the development of the Kemess and Mount Milligan mines, both of which are located in the same geological trend as the company's Thane project in British Columbia.

The Company also advises that granting of 1,000,000 options exercisable at $0.19 for 5 years to certain Directors subject to vesting restrictions as defined in the Company's stock option plan.

ON BEHALF OF IMC INTERNATIONAL MINING CORP.

Greg Hawkings
Chairman of the Board of Directors
1-604-897-8804

Dave McMillan
Davemc@telus.net
1-778-773-4560

ABOUT IMC INTERNATIONAL MINING CORP.

IMC is a junior exploration and development company focused on creating shareholder value through the advancements of its current assets that include the Thane Property in north-central British Columbia, and the Bullard Pass Property in Arizona. Utilizing its heavily experienced management team, IMC continues to source and evaluate assets to further generate shareholder value.

The Thane property covers approximately 206 km² (50,904 acres) and is located in the Quesnel Terrane of north-central British Columbia. The northern part of the Quesnel Terrane extends from south of the Mt. Milligan Mine northward to the Kemess Mine, with the Thane property located midway between these two copper-gold porphyry deposits. The Thane property includes several highly prospective mineralized areas identified to date, including the ‘Cathedral Area' on which the Company's exploration is currently focused.

The Bullard Pass Property is comprised of 171 unpatented federal lode claims totaling 3,420 acres and is located in west-central Arizona, northwest of Phoenix, within the Pierce Mining District of Yavapai County. The property has a regional setting typical of detachment fault gold deposits and has geological, mining and metallurgical similarities to the Mesquite Mine in California. The claims are 100% owned by IMC International Mining Corp.

INVESTOR RELATIONS:
Email: ir@imcxmining.com
Telephone: +1-604-588-2110
https://imcxmining.com

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 and plans, including with respect to undertaking further acquisitions and carrying out exploration activities in respect of its mineral projects. 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, risks related to the ability of the Company to obtain necessary approvals; speculative nature of the Company's business; the Company's formative stage of development; the Company's financial position; conclusions of future economic evaluations; business integration risks; fluctuations in the securities market; that the Company's plans and prospects will vary from those stated in this news release; that the Company does not complete any further acquisitions; that the Company does not carry out exploration activities in respect of its mineral projects as planned (or at all); and that 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 and makes no reference to profitability based on sales reported. 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

SOURCE: IMC International Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/615350/IMC-International-Mining-Corp-to-Release-Results-From-Thane-Property-Work-Program-and-Provides-Corporate-Update

FAQ

What are the latest updates from IMC International Mining Corp. regarding the Thane Property?

IMC is analyzing the results from its Thane Property summer work program, with results expected to be reported soon.

Who is the new Interim CEO of IMC International Mining Corp.?

Dave McMillan has been appointed as Interim CEO, bringing over 40 years of experience in mining and finance.

What is the financial condition of IMC International Mining Corp.?

IMC is currently in a good financial position with no debt and access to $8 million in equity funding.

What is the location and significance of the Thane Property for IMC International Mining Corp.?

The Thane Property is located in north-central British Columbia, covering 206 km² and is strategically situated between the Kemess and Mount Milligan mines.