Int'l Metals signs deal to acquire Bell Lake option

Executive Summary

• International Metals Mining Corp. entered a securities exchange agreement to acquire 100 % of the Bell Lake VMS property in Northwestern Ontario from 1367881 B.C. Ltd. (Privco).
• The transaction will be funded by issuing 10 million common shares at a deemed price of $0.06 per share, plus cash payments of $60,000 and additional share consideration valued at $40,000.
• Bell Lake VMS hosts historic VMS mineralization adjacent to First Quantum’s Sturgeon Lake mine, with historical drill intercepts up to 2.62 % Cu and 1.9 g/t Au over 4.3 m.

Key Details

• Transaction Structure: Securities exchange – International Metals Mining will receive all outstanding Privco shares; in return it will issue 10 million common shares (≈$600,000 at $0.06/share) and pay $60,000 cash plus $40,000 of additional shares.
• Closing Conditions: Subject to due‑diligence, exchange approval and customary closing conditions.
• Property Overview:
• 30 non‑contiguous mining claims covering 1,931 ha (69 cells).
• Located ~3.5 km east of the historic Sturgeon Lake VMS mine (now owned by Glencore Canada).
• Adjacent to First Quantum’s past‑producing Sturgeon Lake mine (19.8 Mt @ 8.50 % Zn, 1.06 % Cu, 0.91 % Pb, 119.7 g/t Ag).
• Historical Drilling Highlights:
• Early‑1970s drill at Claw Lake occurrence: 2.62 % Cu and 1.9 g/t Au over 4.3 m.
• 1974 Matagami Lake Mines Ltd. drill at Swamp Lake SE occurrence (300 m NW of property): 2.72 % Cu, 0.19 % Zn, 27.2 g/t Ag over 0.45 m.
• Exploration Data: 91 diamond drill holes to date; 66 tested the fertile horizon, average depth 32 m (max 600 m). Most holes <200 m deep, indicating potential for deeper undiscovered massive sulphide lenses.
• Future Work Recommended: Deep‑penetrating diamond drilling below historic 200‑m limit and advanced geophysical surveys to locate new sulphide lenses.
• Qualified Person: Andrew Tims, P.Geo., NI 43‑101 qualified person reviewed technical information.

Notable Quotes

(No direct quotes were provided in the release.)