International Minerals Announces Update for Inmaculada Project,

International Minerals Announces Update for Inmaculada Project, Peru 
SCOTTSDALE, AZ -- (Marketwire) -- 11/26/12 --  International Minerals
Corporation (TSX: IMZ) (SWISS: IMZ) (the "Company" or "IMZ")
announces updates for its 40%-owned Inmaculada gold-silver project in
Peru ("Inmaculada").  
The Company was informed by Hochschild Mining plc (60% owner and the
mine operator) on November 22, 2012 (Thanksgiving Day, USA) of
certain changes with respect to the anticipated timeline for
commencement of production and an expected increase in initial
capital costs for Inmaculada. 
Recent regulatory changes to the permitting process in Peru have
dictated that the final mill construction permit for Inmaculada is
now expected in the second half of 2013 and therefore the
commencement of production will be delayed from the end of December
2013 to early in the second half of 2014. 
Initial capital costs, including currency adjustments caused by the
strengthening Peruvian currency and construction-delay related costs,
are now estimated to have increased by about 17% from the January
2012 feasibility study estimate of $315 million to approximately $370
million. This increase is not inconsistent with other mining projects
at this stage of development. 
Based on Hochschild's revised capital cost estimate for Inmaculada of
$370 million, IMZ's share of initial capital costs would increase by
approximately $22 million, from $90 million (based on the January
2012 feasibility study) to approximately $112 million. Based on
current projections, the Company believes that this increase in
capital costs can be funded from existing cash and expected cash flow
from operations. 
It is also worth noting that the January 2012 feasibility study
assumed that Inmaculada would be ramping-up production in 2014 and
would produce approximately 50% of its full-year production mill
capacity (estimated for 2014 at 70,000 ounces of gold and 1.7 million
ounces of silver compared to average annual production of 124,000
ounces of gold and 4.2 million ounces of silver, both on a 100%
project basis). The projected delay in the start of production until
early in the second half of 2014 may therefore not have a significant
effect on the overall cash flow generated by Inmaculada for the full 
2014 calendar year as Hochschild have indicated that the ramp-up
phase of production could be reduced due to the longer lead time now
available for mine development. 
General 
The technical disclosure in this news release has been reviewed by
IMZ's Qualified Person, VP Corporate Development, Nick Appleyard. 
Hochschild Mining does not accept any responsibility for the adequacy
or inadequacy of the disclosure made in this news release and any
responsibility is hereby disclaimed in all respects. 
About International Minerals 
International Minerals is a silver-gold producer, explorer and
developer with silver-gold production from its 40%-owned Pallancata
Mine in Peru. In 2011, it was the sixth largest primary silver mine
in the world.  
In addition to Inmaculada and Pallancata, IMZ also owns a 100%
ownership interests in advanced stage gold projects in Nevada
(Goldfield and Converse) and is in the process of selling its
variable interests in gold projects in Ecuador (Rio Blanco 100% and
Gaby approximately 60%).  
IMZ is listed on the Toronto Stock Exchange (since 1994) and the
Swiss Stock Exchange (since 2002). 
Cautionary Statements: 
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
capital cost; timing of obtaining construction permits; timing and
significance of future cash flows and revenues and timing of
production and processing. Factors that could cause actual results to
differ materially from anticipated results include risks and
uncertainties such as: risks relating to capital costs; risks
relating to obtaining construction permits; risks relating to timing
and significance of future cash flows and revenues; risks relating to
estimates of timing of production and processing; mining and
development risks; risk of commodity price fluctuations; political
and regulatory risks; and other risks and uncertainties detailed in
the Company's Annual Information Form for the year ended June 30,
2012, 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 statement, unless required by law, whether as a
result of new information, future events or otherwise. 
For additional information, contact: 
In North America: 
Paul Durham 
VP Corporate Relations 
Tel: +1 203 883 8358  
In Europe: 
Oliver Holzer
Marketing Consultant
Tel: +41 44 853 00 47 
Renmark Financial Communications: 
Christine Stewart 
Tel: +1-416-644-2020 
Robert Thaemlitz
Tel: +1-514-939-3989 
Or send an e-mail to: Information@intlminerals.com 
Internet Site: http://www.intlminerals.com 
 
 
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