IDM Mining Closes First Tranche of $6 Million Flow-Through Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 21, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

IDM Mining Ltd. (TSX VENTURE:IDM)(OTCQB:IDMMF) ("IDM" or the "Company") is pleased to announce that it has closed the first tranche of the previously announced flow-through private placement. The first tranche of the offering was comprised of 35,482,176 flow-through common shares of the Company at $0.155 per share, for gross proceeds of approximately $5.5 million.

The non-brokered flow-through financing was primarily subscribed to by several new institutional flow-through funds, as well as existing shareholders and insiders. One of the new institutional flow-through funds is expected to close a second tranche of the offering on or about September 10, 2017.

The Company will pay to certain finders a total of $203,936 and 1,315,717 non-transferrable warrants. Each warrant entitles the holder to purchase one common share at a price of $0.23 for a period of twelve months.

The securities issued in the first tranche of the offering are subject to a four-month hold period that will expire on December 22, 2017.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any applicable securities laws of any state of the United States and may not be offered or sold in the United States, or to, or for the account or benefit of a U.S. person (as defined in Regulation S 2 under the 1933 Act) unless registered or pursuant to an available exemption from such registration requirements.

About Red Mountain

The 17,125 hectare Red Mountain Gold Project is located in northwestern BC, 15 km northeast of the Town of Stewart. IDM recently announced the results of a Feasibility Study for a high-grade, underground gold mine, which includes primarily bulk underground mining methods and the production of gold doré on site. The Project is advancing through the provincial and federal environmental assessment processes, with comprehensive, thorough, and ongoing consultation with Nisga'a Nation. The Company recently submitted its Project Application and Environmental Impact Statement to regulators and stakeholders.