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International Minerals Corporation: Drilling at International Minerals` Pallancata Property, Peru, Intersects High-Grade Silver-Gold Mineralization within Multiple Targets
SCOTTSDALE, ARIZONA, Sep 19, 2003 (CCNMatthews via COMTEX) --

International Minerals Corporation ("IMC") has received all assay results from an initial drill program completed in late July 2003 at its 100%-held Pallancata silver-gold property, located approximately 500km southeast of Lima, Peru. IMC`s program comprised 17 core drill holes totaling 2,491m and followed an extensive program by IMC of geological mapping and rock sampling of surface exposures and rehabilitated old underground workings dating primarily from the Spanish colonial period (see News Release dated May 15, 2003). Fourteen of the 17 drill holes were designed to test the west-central section of the main Pallancata Vein structure and three drill holes were located to test a brecciated and stockworked porphyry ("West Breccia") located to the west of the Pallancata vein (To access the map which accompanies this release, please click on the following link: http://www2.cdn-news.com/database/fax/2000/0919IMZ.pdf).

Drill assay results have not only confirmed the high-grade (locally "bonanza" grade) nature of the complex Pallancata Vein structure but also have identified a different (possibly porphyry-related) style of high-grade silver-gold mineralization in the West Breccia zone carrying a noticeably higher gold content than the Pallancata vein. Drill results are discussed in more detail below:

Pallancata Vein

Fourteen drillholes were completed over an 830m strike length of the 1.7 km-long Pallancata vein. Nine of the drillholes cut zones with significant silver-gold mineralization as detailed below. The remaining five of the fourteen holes intersected broad sections of quartz vein but the intersections appear to have fallen outside of the currently identified mineralized zones (or "shoots") and contained no significant mineralisation. All assay values are uncut.

------------------------------------------------------------------------
Drill Estimated
Hole True
(Depth- Interval Length Width Silver Silver Gold
meters) (meters) (m) (m) g/t oz/st g/t Comments
------------------------------------------------------------------------
PAC 02 95.4 - 1.6 1.0 370 10.8 2.0 Pallancata
(109.1) 97.0 Vein
------------------------------------------------------------------------
PAC 03 204.7 - 1.1 0.7 312 9.1 less Pallancata
(219.5) 205.8 than Vein
0.1
217.3 - 1.8 1.2 466 13.6 1.1 H/W Split.
219.1 Hole
bottoms in
mineralization
------------------------------------------------------------------------
PAC 04 69.3 - 5.2 4.4 493 14.4 1.6 H/W Split
(138.7) 74.5
includes: 70.8 - 1.6 1.4 702 20.5 3.6
72.5
95.8 - 3.6 2.9 1,020 29.7 5.5 Pallancata
99.4 Vein
107.3 - 2.7 2.3 391 11.4 1.1 F/W Split
110.1
------------------------------------------------------------------------
PAC 05 93.2 - 2.0 1.5 254 7.4 1.0 Pallancata
(130.5) 95.2 Vein
------------------------------------------------------------------------
PAC 06 56.0 - 2.0 1.6 1,000 29.2 2.6 Pallancata
(117.4) 58.0 Vein
------------------------------------------------------------------------
PAC 07 49.5 - 3.7 3.0 369 10.8 0.8 Pallancata
(100.3) 53.2 Vein
------------------------------------------------------------------------
PAC 08 125.5 - 1.3 1.1 283 8.3 1.1 Pallancata
(176.8) 126.8 Vein
------------------------------------------------------------------------
PAC 10 112.2 - 2.2 1.7 744 21.7 3.6 H/W Split
(134.7) 114.3
------------------------------------------------------------------------
PAC 11 Pallancata Vein intersected but no significant silver/gold
(166.1) intervals
------------------------------------------------------------------------
PAC 12 21.5 - 3.7 3.2 651 19.0 1.8 Pallancata
(109.7) 25.2 Vein
includes: 23.4 - 1.8 1.6 905 26.4 2.3
25.2
------------------------------------------------------------------------
PAC 13 Pallancata Vein intersected but no significant silver/gold
(150.3) intervals
------------------------------------------------------------------------
PAC 14 Pallancata Vein intersected but no significant silver/gold
(160.0) intervals
------------------------------------------------------------------------
PAC 15 Pallancata Vein intersected but no significant silver/gold
(96.9) intervals
------------------------------------------------------------------------
PAC 16 Pallancata Vein intersected but no significant silver/gold
(141.7) interval
------------------------------------------------------------------------
Note: oz/st equals troy oz. per short ton, "H/W" equals Hanging Wall of
Vein, "F/W" equals Footwall of Vein, "Split" equals Secondary
Vein

The limited drilling to date appears to have now identified, on a preliminary basis, two mineralized shoots, as shown in the attached longitudinal section. The Central Shoot has strike length of approximately 340m (based on drill intercepts and IMC`s surface and underground sampling) and was intersected by drill holes PAC 2 through PAC 8. Uncut silver values within the shoot range from 283 g/t (8.3 oz/st) to 1,395 g/t (40.7 oz/st) and gold values range from 0.03 to 8.2 g/t. The weighted averages for all Central shoot intercepts are 572 g/t silver (16.7 oz/st) and 2.3 g/t gold, with an estimated average mineralized true vein width of 1.8m. The deepest intersection was approximately 200m vertically below the surface. In addition, three of these drill holes cut secondary vein structures away from the main vein (referred to as "Splits" in the Table above), which averaged 459 g/t (13.4 oz/st) silver and 1.7 g/t gold over an estimated average mineralized true width of 2.6m.

The East Ore Shoot was intersected by only one drill hole (PAC 12) which cut the Pallancata vein approximately 90m below an area of old workings. Based on the extent of surface workings, it is estimated that this shoot has a strike length of approximately 130m. PAC-12 intersected 651 g/t (19.0 oz/st) silver and 1.8 g/t gold over an estimated true width of 3.2 m.

Two drill holes (PAC 14 & 15) were located to the east of the Rio Suyamarca (the "Suyamarca Zone") to test the eastern extension of the Pallancata vein structure. These drill holes failed to intersect significant mineralization, probably due to faulting. The surface trace of the Pallancata vein extends for a further 800 m to the east of these two drill holes and has not so far been explored by IMC.

West Breccia

Three drill holes, PAC 1, 9 & 17, were drilled to test the West Breccia zone, located to the west of the Pallancata vein (see map). All three drill holes intersected significant silver-gold mineralisation, one cutting multiple mineralized zones with "bonanza" silver grades and containing overall higher gold grades than the Pallancata Vein structure. Drill intercepts with uncut values are shown below.

Drill Estimated
Hole True
(Depth- Interval Length Width Silver Silver Gold
meters) (meters) (m) (m) g/t oz/st g/t Comments
------------------------------------------------------------------------
PAC 01 169.0 - 5.0 n/a 441 12.9 1.9 Brecciated
(187.5) 174.0 vein close to
includes: 172.3 - 1.8 n/a 701 20.4 2.9 Intrusive
174.0 contact
------------------------------------------------------------------------
PAC 09 64.8 - 12.2 n/a 821 23.9 3.2 Massive
(193.6) 77.0 Quartz in
Breccia
includes: 68.9 - 1.9 n/a 2,480 72.3 9.0 In contact
70.8 with
porphry
80.8 - 2.0 n/a 821 23.9 2.9 As above
82.8
86.7 - 3.1 n/a 1,199 35.0 6.3 As above
89.9
includes: 86.7 - 2.0 n/a 1,645 48.0 8.4
88.7
------------------------------------------------------------------------
PAC 17 131.3 - 6.5 n/a 930 27.1 3.6 Mineralized
(158.1) 137.8 Massive
Quartz Vein
in volcanics
------------------------------------------------------------------------
Note: oz/st equals troy oz. per short ton, "n/a" equals true width
cannot be calculated as orientation of mineralized zone(s) is
unknown.

The average grade of all drill hole intercepts in the West Breccia zone is 821 g/t (23.9 oz/st) silver and 3.4 g/t gold. The gold and silver values located in these drill holes are some of the highest values reported on the property by IMC, with a maximum uncut silver grade of 2,480 g/t (72.3 oz/st) together with 9.0 g/t gold, contained in a 1.9m drill intercept. In the case of these two drill holes, the mineralization appears to be closely associated with a contact zone or zones between a brecciated porphyry intrusive and volcanics (tuffaceous sediments), possibly with some overall lithological control. The overall geometry of this essentially "blind" mineralized area in the West Breccia zone has not yet been defined by IMC and requires additional drilling.

Discussion of Results to Date

IMC management considers the results of this first round of exploratory drilling at Pallancata to be extremely encouraging for a silver-gold deposit similar to those vein deposits currently being mined underground by major companies in the area. At least two substantial ore shoots, both open in depth, have been located in the central part of the Pallancata vein structure, and, somewhat unexpectedly, high-grade mineralization has also been located in the hanging and footwall sections away from the main vein. Less than half of the known vein strike length of the Pallancata vein structure was tested in this drill program.

The high silver and gold values encountered in the West Breccia zone are especially encouraging in that the mineralized drill intercepts were located below surface outcrops in which only weak mineralisation had previously been detected by IMC and where the surface extent of outcrop is very limited. Previous sampling of a 119m-long trench excavated by IMC which cut the outcrop above the high-grade values encountered in the drilling averaged only 45 g/t (1.3 oz/st) silver and 0.6 g/t gold.

Future Exploration Plans

Subject to additional financing/conversion of "in-the-money" share purchase warrants, further drilling and/or underground exploration will be undertaken by IMC in early 2004:

- to evaluate the high priority West Breccia zone mineralization

- to further test the known Pallancata Vein shoots at greater depth

- to test, on an initial basis, the eastern 800m strike length of the 1.7 km-long Pallancata Vein which remains unexplored

In addition, IMC will initiate exploration work on the Ranichico zone, located approximately 4 km to the north, where up to nine previously inaccessible underground and surface workings dating back to the Colonial era have so far been located by IMC. During IMC`s initial reconnaissance program a total of seven surface rock chip samples and one dump grab sample reported values from 4 to 377 g/t (11 oz/st) silver and 0.04 to 3.8 g/t gold.

General

Drilling was carried out by Kluane International Drilling Inc., of Vancouver, Canada using Canadian drillers. Sample preparation and analytical work was carried out at the ALS Chemex laboratory in Lima, Peru using standard industry practices and conventional fire assay methods for gold and silver. For quality control purposes, analytical standards with known metal values were included with IMC`s samples and show acceptable reproducibility. Duplicate analyses on selected samples will also be carried out by Acme Geochemical Inc. (Vancouver). The overall exploration program was conducted under the supervision of IMC`s Qualified Person, Dr. Barry Rayment, who is a consultant to, and a director of, IMC.

ON BEHALF OF THE BOARD OF DIRECTORS

Stephen J. Kay, President and CEO

International Minerals Corporation
Terri Kasten
[phone]
[phone] (FAX)
Email: [e-mail]
Website: www.intlminerals.com



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[Neono]

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[Neono]

Drill assay results have not only confirmed the high-grade (locally `bonanza`grade) nature of the complex Pallancata Vein structure but also have identified a different (possibly porphyry-related) style of high-grade silver-gold mineralization in the West Breccia zone carrying a noticeably higher gold content than the Pallancata vein. Drill results are discussed in more detail below:

Hm, das Vorkommen ist also grösser als erwartet

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Neono

[real_butthead]

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[Neono]

real
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[real_butthead]

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[Teffie]

Super News,
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