International Metals Mining Corp. To Expand Its Exploration Assets In “Lithium Valley“ Brazil
Vancouver, July 12, 2023 - International Metals Mining Corp. (the "Company or International Metals") (TSXV:IMM | OTCQB: CYNXF | FSE: C2YD is pleased to announce that it has entered into a mining claims purchase agreement (the "Purchase Agreement") with Tristar Energy Corp. ("Tristar") pursuant to which, and subject to the terms and conditions contained therein, it would acquire a 60% right, title, and interest in Tristar's Minas Gerais mining permits located in the state of Minas Gerais (the "Property"), Brazil, known as Brazil's Lithium Valley (the "Acquisition"). Under the terms of the Purchase Agreement, the Company will earn its undivided 60% right and interest in the Property upon issuing 20,000,000 common shares in the capital of the Company ("Shares") to Tristar and paying the sum of five hundred and fifty thousand dollars ($550,000) as follows:?
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(a)?$150,000 in cash within ninety (90) days from the execution of the Purchase Agreement;? and
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(b)?$400,000 in cash within twelve (12) months from the execution of the Purchase Agreement.?
The Property comprises 26 mineral claims totaling 39,596.63 hectares of surface area. It is strategically located 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, in the State on Minas Gerais, Brazil. Sigma's properties are located in the municipalities of Araçuaí and Itinga, in Brazil's mining-friendly Minas Gerais State, 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.
The Company notes that mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
Closing of the proposed Acquisition is subject to the TSX Venture Exchange's ("TSXV") acceptance and receipt of all other necessary regulatory approvals and acceptances, as well as the satisfaction or completion of customary closing conditions set forth in the Purchase Agreement. There can be no assurance that the Acquisition will be completed as proposed, or, at all. The Shares will be subject to a "hold" period of four months and one day form the date of issuance.
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.
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 now with a very prospective lithium property in Brazil's growing lithium provinces.
International Metals Mining Corp.
Per: "Brian Thurston"
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: the Acquisition, including, approval of the TSXV and ultimately earning of the 60% interest in the Property upon payment of the consideration above, and timing thereof; and the Company's intended exploration plans, including conducting a satellite imagery-based spectral analysis and initial groundwork upon completion 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.