Hilda Property Sonora Mexico & Grants Option

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NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 23, 2011) -
International Millennium Mining Corp. ("IMMC" or the "Company") (TSX VENTURE:IMI) announces further to its news release of January 21, 2011, results previously announced by its joint venture partner First Mexican Gold Corp. ("First Mex") (FMG - TSX-V) on the Company's property package in the Guadalupe - Santa Anna area of Sonora State, Mexico. Recent acquisitions increase the Hilda Property package now to approximately 9,171 hectares (80% under option to First Mex and referred to by them as the Guadalupe Property) contiguous to Corex Gold Corp (CGE -TSX-V) Santana Property where consistently good exploration results have been demonstrated.


First Mex announced the completion of the planned drilling program on the Guadalupe property originally announced January 10, 2011. As planned, 5 holes were completed in the Karen zone which had been identified and now confirmed as a high-grade target. In addition, 3 holes were completed in the Dianna zone which was identified as a lower grade, potentially large tonnage target. The final 2 holes planned for the gold/silver/copper bearing Bailey zone were not completed due to a late developing property access issue. Subsequently, First Mex signed a four-year agreement with the Adjito of Guadalupe Tayopa which permits access to all properties as required. Further access arrangements have been reached with the individual property holders for the same four-year term.


Post agreement, First Mex conducted a continuous, systematic, rock chip sampling survey on the Bailey zone which comprised 37 samples over 55.5 metres. This was done to further build the database on this high potential target in order to better locate future drill targets. Assays are pending and will be reported shortly.



Results to Date



The initial three holes from the Karen zone (HDH 11-04, HDH 11-05, HDH 11-06) returned very good grade intersections from surface or near surface occurrences over potential mineable widths and were reported in the Company's January 21, 2011 news release. Holes HDH 11-07 and HDH 11-08 were drilled on the Karen zone and had visual, non mineralized sections with assays reporting only anomalous gold/silver/copper. Both holes were drilled to approximately 140 metres. Subsequent interpretation suggests that hole 7 was drilled parallel to the zone and hole 8 undercut the zone. These holes were unsuccessful in locating the continuation of the Karen zone and an IP survey is presently underway to better define drill parameters prior to continuing the drilling on this high-grade zone. Hole HDH 11-09 was collared on the Diana zone targeted as a lower grade, potential large tonnage zone. The hole was drilled at a -45 degree angle and approximately 100 metres in length. Hole HDH 11-10 was also drilled on the Diana zone at a 90-degree (vertical) angle and was approximately 152 metres in length. Both holes intersected porphyry rock type mineralization and suggest a possible convergence of the suspected 3 to 4 near vertical parallel zones at depth. An IP survey is being conducted over the area to better define targets for the next round of drilling. (See First Mex's news release dated February 11, 2011 for the Summary Table of Drill Results at >www.firstmexicangoldcorp.com).


Jim Voisin, President and CEO of First Mex states, "We are pleased to have confirmed the high grade potential of the Karen zone and lower grade/higher tonnage potential of the Diana zone with this initial round of drilling. Both targets will be pursued more aggressively in the next phase of drilling which is being planned to commence later in Q1". Mr. Voisin adds: "The ongoing IP survey data will greatly assist in further delineating these very interesting discoveries which have occurred so early in our exploration program. We are presently chasing a chargeability anomaly that will be an additional high priority target in our next drilling program."



Acquisitions



Vianney, San Martin and Panda Properties - On February 14, 2011, First Mex announced that it added the Vianney, San Martin and Panda properties to its property package contiguous to the Guadalupe Property. The acquisition comprises 3,999 hectares and is considered very prospective for gold and silver mineralization. The larger 3,750 hectares Panda property, is located just east of the recently acquired Hilda 31, 32 and Santa Martha claims and contains numerous historic workings. Systematic sampling of this area is planned to commence in the coming months. The Vianney/San Martin claims, 249 hectares will, in the future, be referred to as the Kristen zone. This Kristen zone lies north of and is contiguous to Hilda 38. Random soil and rock chip sampling has been conducted to date in the vicinity of visual outcrops which contributed to the decision to purchase this property. Evidence of historic mining in the Kristen zone is best exhibited from a surface excavation of approximately 150 metres in length on strike to a depth of 50 metres. First Mex advises they have identified a potential trend that extends from the Kristen zone and terminates on the Katelyn zone on Hilda 37 some 2 kilometres away. This trend has been sampled and found to be gold/silver bearing with similar rock types identified. First Mex plans an early Spring IP program to assist in developing a drilling plan.


The properties were acquired for a cash payment of US$186,000 (funded by First Mex) and 1,600,000 shares of First Mex Gold Corp. and are subject to a 2.5 % NSR royalty of which 1.5% can be re-purchased for US$1 million. This property has been added to the existing Option agreement between the IMMC and First Mex wherein First Mex holds the right to earn 80% interest in the Company's Hilda properties in the Guadalupe - Santa Anna area.


La Cabana Group Properties - The Company has also, together with First Mex, entered into an Option Agreement with Kootenay Gold Inc. (KTN-TSX-V) which adds significantly to its Hilda-Guadalupe Property package in Sonora State, Mexico. The property comprises 3,606 hectares contiguous to the south-east boundary of the present land holdings and is also considered very prospective for gold and silver mineralization with numerous historic workings present. The La Cabana Group concessions include La Cabana 1 Frac I, La Cabana 1 Frac II, La Cabana 1 Frac III and Cuatas all 100% owned by Kootenay.


The Option Agreement allows IMMC and First Mex to acquire a 60% undivided interest for US$25,000 on signing, (funded by First Mex) by issuance of an aggregate 1,200,000 First Mex common shares over 5 years and by spending US$2 million on the property over 5 years. The property is subject to a 1% NSR royalty reserved for Kootenay which can be purchased for US$1 million. The earn-in can be accelerated at First Mex's discretion. On completion of the earn-in a JV Agreement will be formalized. This property has been added to the Company's existing Option Agreement with First Mex. (see also First Mex news release of February 17, 2011)


Historic and recent non-compliant sampling has been conducted by Kootenay Gold with over 120 samples assayed with the highlights listed below. The samples are from the Minas Viejas area of the La Cabana Frac II property and are on trend and very close to the 37 Bailey zone rock chip samples mentioned earlier. Results from the Bailey zone sampling will be reported separately. (see First Mex news release of Feb 16, 2011)


Sample Highlights - La Cabana Frac II

sample # FA1322G returned 11.40 g/t gold, 92 g/t silver
sample # LM1041D returned 1.54 g/t gold, 672 g/t silver, .69% copper
sample # CA1032D returned 3.25 g/t gold, 4620 g/t silver, .698% copper
sample # CA984D returned 12.20 g/t gold, 877 g/t silver, 13.40% copper
sample # LM1046G returned 4.49 g/t gold, 504 g/t silver, 2.70% copper



"The Kootenay Option Agreement allows First Mex to acquire a significant interest in ground considered highly prospective and on trend with identified targets from our existing property package. Initial reconnaissance has already begun and we intend to pursue exploration in the immediate area of the Bailey zone. We look forward to working with Kootenay going forward" said Jim Voisin, President and CEO of First Mex.


IMMC President and CEO John A. Versfelt, says, "At International Millennium we continue to be encouraged by both the exploration results and by the strategic acquisitions negotiated by First Mex for the venture to date."


First Mex reports that SJ Geophysics Ltd. of Delta, B.C., is currently on-site continuing with the extensive 3D IP survey totaling 45 kilometres of lines which includes the survey being extended towards the Bailey zone. This 3D IP program is designed to enhance the drilling targets over multiple identified target rich areas and to provide follow-up data to assist in the next phase of drilling within the expanded property package.


John Archibald, PGeo, of Billiken Management Services Inc., a qualified person pursuant to NI 43-101, has reviewed and approved the technical information in this press release. Samples were prepared and assayed by an accredited lab, ALS Chemex, Vancouver, BC. Quality control is monitored on a continual basis and utilizes a system of standards, blanks and duplicates to ensure analytical accuracy.



Stock Options Granted - The Company has granted incentive stock options for the right to purchase up to 250,000 shares for $0.115 per share exercisable for two years. Total stock options granted by the Company to date is 3,060,000.



About First Mex Gold Corp.



First Mex Gold Corp is an active explorer for precious metals in Mexico and holds an option to acquire 80% interest in the Guadalupe property package from Minera Internacional Milenio S.A. de C.V. (MIMSA) a wholly owned subsidiary of IMMC. First Mex is earning its 80% interest in the properties by incurring an additional US$3 million of expenditures, making timed cash payments of US$100,000 and by issuing 1.4 million First Mex shares over a 5 year period.



About International Millennium Mining Corp.



International Millennium Mining Corp. is a mineral exploration and development company engaged in acquiring known small mine deposits world-wide and in the exploration of polymetallic mineral properties in Canada and the Americas. To date, the Company has acquired and is exploring mineral properties in British Columbia and Ontario, Canada; Nevada, USA; and Sonora State, Mexico. Emerging mineral targets include gold, silver, zinc, lead and copper. The Company's common shares trade on the TSX Venture Exchange under the symbol: IMI and on the Frankfurt Exchange under the symbol: L9J.


ON BEHALF OF THE BOARD,


John A. Versfelt, President and CEO


Further information about the Company can be found on SEDAR (http://www.sedar.com/">www.sedar.com).


This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes and other business transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.




FOR FURTHER INFORMATION PLEASE CONTACT: Ms. Sheri Barton
International Millennium Mining Corp.
403-217-5830
[email protected]
ORMr. John Versfelt
International Millennium Mining Corp.
President & CEO
604-984-9907
604-983-8056 (FAX)
[email protected]