Mr. Brian Thurston reports

INTERNATIONAL METALS COMPLETES SHARES FOR DEBT TRANSACTION

International Metals Mining Corp. has received final approval from the TSX Venture Exchange to settle an aggregate of $855,001.95 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 settled an aggregate of:

• $780,011.95 in debt owing to the arm's-length creditors by issuing 7,800,119 units at a deemed price of 10 cents per unit, whereby each unit shall be composed of 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; and
• $74,990 in debt owing to an executive officer, or corporation held thereby, of the company by issuing 749,900 shares at a deemed price of 10 cents per share.

The following insider of the company participated in the shares for debt transactions: Brian Thurston, chief executive officer and director of the company, received 749,900 shares to satisfy $74,990 owed by the company. The participation of the insider 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 is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insider's 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 insider does 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).

About International Metals Mining Corp.

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

We seek Safe Harbor.