International Minerals Announces Further Drill Results from Goldfield Project, Nevada

International Minerals Corporation (Toronto and Swiss stock exchanges:
'IMZ?) (TSX: IMZ)(SWX: IMZ) reports additional results from its ongoing
reverse circulation ('RC?) drilling program at the Goldfield Main
deposit at its 100%-held Goldfield gold project in southern Nevada.

Highlights of these new results include the following drill intercepts
(representing estimated true widths in meters ('m?) and uncut gold
grades in grams per tonne ('g/t?).

• 36.6m at 1.6 g/t in 2010-015
• 6.1m at 6.7 g/t in 2010-033
• 5.2m at 15.3 g/t in 2010-035
• 3.8m at 10.8 g/t in 2010-035
• 10.7m at 3.23 g/t in 2010-085
• 9.2m at 2.1 g/t in 2010-087

As in previously reported drill results, significant widths and gold
grades were also encountered in drilling through the backfilled areas of
the historical mine workings suggesting that good-grade material was
used to backfill those mined-out areas. IMZ is constructing a detailed
computer model of these backfilled workings in order to quantify their
volume and grade as they may have a significant positive impact on the
economics of a potential mining operation at the Goldfield Main deposit.

Highlights of the results from drill intersections in backfilled areas
are shown below:

• 11.3m at 2.6 g/t in 2010-025
• 9.8m at 3.7 g/t in 2010-035
• 3.8m at 24.5 g/t in 2010-035
• 5.2m at 12.3 g/t in 2010-035

Assay results for all 28 RC drill holes totaling 5,540m reported in this
news release are summarized in Appendix 1 and are shown on the plan map
in Appendix 2 (Click
here to view full release with Appendices). IMZ has now reported
drill results for a total of 86 RC drill holes totaling 17,575m. See
also IMZ′s previous news releases of August 25 and October 7, 2010 for
the previously-reported 58 drill holes at the Goldfield Main deposit.

Goldfield Main Deposit

The Goldfield Main deposit is one of three principal mineralized areas
that have been evaluated on the Goldfield property over the past two
decades. The other deposits are Gemfield and McMahon Ridge (See map,
Appendix 2)

Gold mineralization at the Goldfield Main deposit occurs primarily as
narrow, high-grade veins, within tabular, gently-dipping, lower-grade
mineralized zones. The majority of gold produced historically from the
Goldfield district was mined from these high-grade veins but more recent
open-pit production was sourced from the near-surface lower grade
mineralized zones. Reported production from the district from 1903 to
1960 is estimated to be 4.2 million ounces of gold at an average grade
of approximately 18 g/t.

These new results continue to confirm that the mineralized bodies at the
Goldfield Main deposit extend down-dip to the east, with many of the
assay results indicating gold grades significantly higher than the
average grade of the current mineral resource estimate (see below).

The historical underground workings extend up to an additional 300-500m
east of the eastern extent of the current IMZ drilling program (see
Appendix 2), indicating the potential for a significant increase in
mineral resources at the Goldfield Main deposit.

Mined-out areas (generally 2-5m wide) encountered in the drilling
program (designated as 'Voids? in Appendix 1) are intercepts of old mine
workings.

Goldfield Project ? Initial Drill Program

This initial RC drilling program (expected to total approximately
20,000m in 93 drill holes) is designed to both increase the confidence
level of the mineral resource base at the Goldfield Main deposit as well
as expand the existing resource base. IMZ expects to announce an updated
mineral resource estimate for the Goldfield Main deposit before the end
of the first calendar quarter of 2011.

A core rig will start drilling soon in the Goldfield Main area in order
to (a) obtain samples for metallurgical testwork; (b) 'twin? (duplicate)
several RC holes in order to compare and confirm assay results and
geological interpretation; and (c) to verify that IMZ′s identification
in certain drill holes of backfilled material from old mine workings is
correct as it is often difficult to distinguish between friable, or
highly broken, in-situ rock and backfilled material.

In other parts of the Goldfield District (outside of the three principal
deposits) three additional drill targets have been developed.
Approximately 5,000m of RC drilling is planned for these areas in the
coming months.

Goldfield Project - NI 43-101 Mineral Resources

The current NI 43-101 compliant independent mineral resource estimates
for the Goldfield Main deposit are:

• 
  242,000 ounces of Indicated resources, contained in 6.0 million tonnes
  ('Mt?) at a grade of 1.2 g/t gold; and
  
• 
  80,000 ounces of Inferred resources, contained in 1.9 Mt at a grade of
  1.3 g/t gold.
  

Combined with the Gemfield and McMahon Ridge deposits, the current total
gold resource estimate for the overall Goldfield project comprises:

• 
  1,068,000 ounces of Measured and Indicated resources, contained in
  28.8 Mt at an average grade of 1.2 g/t gold; and
  
• 
  105,000 ounces of Inferred resources, contained in 3.0 Mt at an
  average grade of 1.1 g/t gold.
  

The cut-off grade used was 0.34 g/t gold for all three deposits at
Goldfield.

Mineral resource estimates at the Goldfield project have been conducted
separately for the Goldfield Main deposit and the Gemfield/McMahon Ridge
deposits: at Goldfield Main the mineral resources were estimated in 2002
by Mine Development Associates, with Scott Hardy, P. Eng, Neil Prenn, P.
Eng and Steve Ristorcelli, R.P.Geo as the Qualified Persons ('QP′s?); at
Gemfield and McMahon Ridge the mineral resources were estimated in 2005
by Watts, Griffis and McOuat, with John R. Sullivan, P.Geo as the QP.

General

Sample preparation and analytical work for the Goldfield drilling
program were carried out by Inspectorate Labs in Sparks, Nevada, an ISO
9001:2008 certified laboratory which employs industry-standard
analytical methods. As part of IMZ ´s QA/QC protocol, standard samples
and blanks were inserted into the sample processing stream at a rate of
one per 10 samples. Duplicate and alternate laboratory check samples
also form part of this sampling protocol. The technical disclosure
including drill results in this news release has been reviewed by IMZ′s
Qualified Person, Exploration Manager, Mark Cannuli.

About International Minerals

International Minerals is a silver-gold producer and developer with
silver-gold production from its 40%-owned Pallancata Mine in Peru, one
of the top-10 primary silver mines in the world. Production of
approximately 10 million ounces of silver and 33,000 ounces of gold (on
a 100% project basis) is estimated by IMZ for calendar year 2010.

In addition to the Pallancata Mine, IMZ also controls a 40% interest in
the Inmaculada gold-silver project in Peru and majority or 100%
ownership interests in development stage gold projects in Nevada
(Goldfield and Converse) and Ecuador (Rio Blanco and Gaby). IMZ also
receives a 3% net smelter return ('NSR?) royalty from Barrick Gold′s
Ruby Hill gold mine in Nevada, which produced approximately 100,000 gold
ounces in 2009.

IMZ is listed on the Toronto Stock Exchange (since 1994) and the Swiss
Stock Exchange (since 2002).

Cautionary Statement:

Some of the statements contained in this release are 'forward-looking
statements? within the meaning of Canadian securities law requirements.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to differ materially from the anticipated
results, performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements in this release
include statements regarding estimates of resources and time lines for
drilling programs and feasibility studies. Factors that could cause
actual results to differ materially from anticipated results include
risks and uncertainties such as risks of estimating mineral resources,
delays in exploration programs and other risks and uncertainties
detailed in the Company′s Annual Information Form for the year ended
June 30, 2010, which is available at www.sedar.com
under the Company′s name. The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.

Note: 'Void? indicates zone where old mine workings were intersected in
the drill hole and therefore no sample was recovered. 'Stope Fill? is
where old mine workings were intersected and mine back fill was
recovered and sampled. 'Unconsol.? refers to dump material which is
waste from old mining operations (man-made, not recent sediments). 'N/A?
refers to zones where true widths could not be determined.

Due to the high grade nature of the intersection drill hole 2101-035
will be twinned with a core drill hole to confirm intersection. The core
drilling will also be used to confirm the presence and continuity of
historical Stope Fill, which can at times be difficult to identify from
RC chips.

Photos/Multimedia  Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6535426&lang=en

International Minerals Corporation

In North America

Paul
Durham, +1 203-940-2538

VP Corporate Relations

or

In
Europe

Oliver Holzer, +41 44 853 00 47

Marketing Consultant

IR@intlminerals.com

http://www.intlminerals.com