VANCOUVER, BRITISH COLUMBIA, Jul 18, 2012 (MARKETWIRE via COMTEX) — International Northair Mines Ltd. /quotes/zigman/186633 CA:INM +4.17% (the “Company” or “Northair”) is pleased to announce that it has completed an initial core drill program at its Sierra Rosario silver gold project (the “Property”), located in the state of Sinaloa, Mexico.
The drill program, conducted by the Company and its 50% partner American Consolidated Minerals Corp., consisted of six core holes, totaling 1,392.15 metres and was designed to test a 600 meter long portion of a significant induced polarization geophysical and silver / gold geochemical soil anomaly. Results from the drill program are pending and will be reported when assays have been received and compiled by the Company.
In addition, a follow up geochemical program has also been completed at the Property. This program was designed to extend the initial soil sampling grid to the southeast to better define the limits of the open ended silver / gold soil anomaly noted above, which measures 1,400 metres in length and up to 1,300 metres wide at its southeastern end. The additional work extended 3 existing lines towards the northeast and expanded the grid 600 meters to the southeast. Results from this program are pending and will be reported when received.
About International Northair Mines Ltd.
Northair is a mineral exploration company engaged in the acquisition and development of gold and silver properties in Mexico. The Company has successfully staked and acquired a number of early stage projects that offer opportunities for significant discoveries. In addition to its Sierra Rosario silver/gold project the Company is currently drilling its La Cigarra silver project in Mexico, in order to complete an initial resource calculation in 2012. A third project in Mexico, the El Reventon silver project, is currently optioned to Focus Ventures Ltd., who is committed to spend a minimum of USD$250,000 by April 2013.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
Fred G. Hewett, P.Eng., President & CEO
This news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See Northair’s filings for a more detailed discussion of factors that may impact expected results.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities 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 “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
International Northair Mines Ltd.
Fred Hewett
604-687-7545 or 1-888-338-2200International Northair Mines Ltd.
Chris Curran
Manager of Corporate Communications
604-687-7545 or 1-888-338-2200International Northair Mines Ltd.
Brent Levenstadt
Investor Relations Associate
604-687-7545 or 1-888-338-2200
604-689-5041 (FAX)
[email protected]www.internationalnorthair.com
