Reno, Nevada, August 16, 2012 - Infrastructure Materials Corp. (OTCBB: IFAM; TSX-V: IFM, IFM.s) (the "Company") reports that International Millennium Mining Corp. (TSX-V: IMI) (“IMMC”), the option holder for the Company’s NL Project, has announced an estimate of the mineralization at the Nivloc Mine Property (the “Estimate”). IMMC also announced that the Canadian National Instrument 43-101 compliant technical report from which the Estimate is derived will be filed on SEDAR no later than August 31, 2012.
The Nivloc Mine Property is situated in Esmeralda County, Nevada, and consists of 18 unpatented lode mineral claims (the “NL Project”) owned by the Company's wholly-owned subsidiary, Silver Reserve Corp. (“SRC”), and 104 unpatented lode mineral claims owned by International Millennium Mining Inc. (“IMMI”), a wholly-owned subsidiary of IMMC (the “IMMI Property”). Pursuant to the terms of an option agreement dated February 25, 2011, IMMI has the exclusive right and option to acquire an 85% interest in the NL Project in consideration of payments to SRC of $350,000 and 1,925,000 shares of IMMC over a five-year period, with IMMI’s interest in the NL Project vesting at the end of the period. If the Nivloc Mine Property is determined to be economically feasible based upon criteria described in the option agreement, SRC will be required to fund its portion of the operating budget in order to retain its 15% joint venture interest in the NL Project and to acquire a 15% interest in the IMMI Property. In the event that SRC decides not to fund its portion of the budget, its 15% interest in both the IMMI Property and the NL Project would be forfeited, but SRC would be entitled to a 2% net smelter royalty.
Infrastructure Materials Corp. is a Reno, Nevada based exploration stage mining company that is directing its efforts to the exploration and development, if warranted, of cement grade limestone deposits in strategic locations in the United States and Canada and precious metal properties located in Nevada.
For further information please see our public filings at www.sedar.com and www.sec.gov/edgar.shtml or contact:
Steve McGuire (Teatyn Enterprises Inc.)
Email: firstname.lastname@example.org or
or visit our website at
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The reader is cautioned that the term "resource" is not a term recognized by the United States Securities and Exchange Commission's (the "SEC") guidelines for disclosure of mineral properties, however, it is a recognized defined term under Canadian disclosure guidelines.
FORWARD-LOOKING STATEMENTS: This news release contains certain “forward-looking statements” within the meaning of U.S. securities laws Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” ”believe,” “anticipate,” “estimate” and other similar words or statements to the effect that certain events or conditions “may”, “have” or “will” occur. This release also contains statements based upon historical records pertaining to our mineral claims that have not been verified by the Company. The term, “resource” is not a term that is recognized by SEC guidelines and does not rise to the level of certainty required by SEC guidelines. Forward-looking statements or references to historical records are based on the material in our possession, opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those stated or projected in this press release. The Company undertakes no obligation to update forward-looking statements or historical information unless specifically required by law. The reader is cautioned not to place undue reliance on forward-looking statements.