Mr. Brian Thurston reports

INTERNATIONAL METALS ANNOUNCES SHARES FOR DEBT TRANSACTION AND CHANGE OF DIRECTORS

International Metals Mining Corp. has entered into debt settlement agreements to settle an aggregate of $518,238.36 in debt owing to certain arm's-length creditors and non-arm's-length creditors of the company.

Debt transaction

Pursuant to the shares for debt transactions, the company has agreed to settle an aggregate of:

• $391,238.36 in debt owing to the arm's-length creditors by issuing 5,216,510 units at a deemed price of 7.5 cents per unit, whereby each unit shall comprise one common share of the company and one transferable share purchase warrant, with each warrant convertible into an additional share at an exercise price of 15 cents per warrant share for a period of 24 months from the date of issuance;
• $127,000 in debt owing to executive officers, or corporations held thereby, of the company by issuing 1,693,333 shares at a deemed price of 7.5 cents per share.

The following insiders of the company intend to participate in the shares for debt transactions: (i) Brian Thurston, chief executive officer and director of the company, is to receive 933,333 shares to satisfy $70,000 owed by the company; and (ii) a corporation held by Dong Shim, chief financial officer of the company, is to receive 760,000 shares to satisfy $57,000 owed by the company. The participation of insiders in the shares for debt transactions is considered a related party transaction pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company expects that it will be exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insiders' participation in the shares for debt transactions in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the shares for debt transactions by the insiders will not exceed 25 per cent of the fair market value of the company's market capitalization.

All securities issued pursuant to the shares for debt transactions and any shares that may be issuable on the exercise of warrants will be subject to a statutory hold period expiring four months and one day from the date of issuance in accordance with applicable securities legislation. The shares issued to insiders will also be subject to a concurrent exchange hold period (as such term is defined in the policies of the TSX Venture Exchange). The shares for debt transactions, including the issuance of the units and shares contemplated thereby, are subject to the receipt of required approvals, including acceptance by the TSX-V.

New board member

The company has made updates to its board of directors. Wayne Tisdale is stepping down from the board and Vanni Barbon has been appointed as a new director.

Mr. Barbon's professional experience is extensive as a BMO commercial branch manager, an investment analyst and a public company chief financial officer. "We are thrilled to welcome Mr. Barbon to the company as his banking and public market expertise will be a tremendous asset to the team," commented Mr. Thurston, chief executive officer. "On behalf of the board and management, I would like to thank Mr. Tisdale for his service and contributions to the company," added Mr. Thurston.

About International Metals Mining Corp.

International Metals Mining is a Canadian company engaged in the acquisition, exploration and development of mineral properties focusing on battery metals and mineral assets. The company is focused on its 100-per-cent-owned copper-gold porphyry property in Peru.

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