INDUSTRIAL MINERALS INC. ANNOUNCES ENGAGEMENT OF AGENT FOR UP TO US $10 MILLION FUNDING
Toronto, Ontario, Canada — May 13th, 2008 — Industrial Minerals Inc. (IMI) -OTCBB: IDSM - (or “the Company”) today announced it has engaged a placement agent (the “Agent”) to conduct a brokered private placement of special warrants (“Special Warrants”) to
INDUSTRIAL MINERALS INC. (IMI) PLANS EXPANDED 2008 DRILL PROGRAM ON BISSETT CREEK
Toronto, Ontario, Canada — April 15th, 2008 — Industrial Minerals Inc. (IMI) -OTCBB: IDSM - (or “the Company”) is pleased to announce that it has developed plans for an expanded exploratory and confirmation drill program on its Bissett Creek large-flake g
INDUSTRIAL MINERALS INC. (IMI) PURSUING HIGH-PURITY, HIGH VALUE GRAPHITE MARKETS
Toronto, Ontario, Canada — April 10th, 2008 — Industrial Minerals Inc. (IMI) -OTCBB: IDSM - (or “the Company”) is pleased to provide its shareholders with this update on developing market opportunities for its Bissett Creek large-flake graphite property i
INDUSTRIAL MINERALS RECEIVES LOI FROM GRAPHITE CUSTOMER
TORONTO, Ontario, Canada — January 23, 2008 — Industrial Minerals Inc. (OTCBB: IDSM - or "the Company") today announced that it has received a letter of intent (LOI) from ACC Resources Corp LP (ACC), one of the world’s largest refined graphite suppliers,
Industrial Minerals Inc. Provides Corporate Update
TORONTO, Ontario,— (December 20, 2007) — Industrial Minerals Inc. -OTCBB: IDSM - (or “the Company”) today announced it has deferred its previously announced private placement, intended to raise up to US $5.0 million, due to current volatile capital market
Industrial Minerals Receives Positive Results From Preliminary Economic Assessment on Bissett Creek
Toronto, Ontario, Canada — November 21, 2007 — Industrial Minerals Inc. -OTCBB: IDSM - (or “the Company”) is pleased to announce that it has received a draft technical report that was prepared under, and is compliant with, National Instrument 43-101 – St
Industrial Minerals Inc. Executes Licensing Agreement With Hydro Quebec
TORONTO, Ontario, Canada — November 8, 2007 — Industrial Minerals Inc. (OTCBB: IDSM - or "the Company") today announced the licensing of five specific patents related to Lithium (Li)-ion battery technology with Hydro Québec. The term of the agreement is f
INDUSTRIAL MINERALS RECEIVES LOI FROM GRAPHITE CUSTOMER
NEWS RELEASE
INDUSTRIAL MINERALS, INC.
2904 South Sheridan Way, Suite #100 – Oakville Ontario Canada L6J 7L7
INDUSTRIAL MINERALS RECEIVES LOI FROM GRAPHITE CUSTOMER
TORONTO, Ontario, Canada — January 23, 2008 — Industrial Minerals Inc.(OTCBB: IDSM - or "the Company") today announced that it has received a letter of intent (LOI) from ACC Resources Corp LP (ACC), one of the world’s largest refined graphite suppliers, to initially purchase between 5,000 and 10,000 metric tonnes of flake graphite concentrates annually.
The purchase price for the graphite will be determined at the time of sale and based on prevailing global prices.
“This is an extremely important development for the Company as it represents potential revenues coming from 20 to 40 percent of the annual projected plant capacity,” said David Wodar, President and CEO of Industrial Minerals, “ACC has also indicated to us that annual volumes are likely to grow given the expansion in the markets served. We expect to have a lasting relationship with ACC when our graphite property begins production.”
ACC expects to market this product in Latin America, Africa, Asia, and in national markets where strong and consistent industrial growth is taking place. ACC has also informed Industrial Minerals that it may market in other regions, depending upon prevailing economic conditions.
Initial sales contemplated under this LOI are expected to begin in 2010.
Also the Company would like to announce that as of Dec. 27th 2007 the finalized Preliminary Assessment NI 43-101 report was filed with the Ontario Securities Commission (OSC). The report is available for viewing at the OSC office or please contact the Company to receive an electronic copy.
About Industrial Minerals, Inc.
Industrial Minerals Inc. through its wholly owned subsidiary Industrial Minerals Canada Inc., headquartered in Oakville, Ontario, Canada, owns 100% of the undivided interest in the Bissett Creek Graphite patented mineral lease, containing a resource of 327,700 tonnes indicated plus 397,900 tonnes inferred of flake graphite based on approximately 10% of the patented mineral leases that have been drilled to date. The property is comprised of 28 claims covering an area of approximately 1,315 hectares (3,250 acres). It has been the subject of substantial earlier exploration drilling, trenching and metallurgical test work by KHD Canada, Kilborn Engineering, Pincock Alan and Holt and Cominco Engineering Services. The property is located in Maria Township in the Province of Ontario, Canada. The Company believes the property is one of the largest and purest natural flake graphite deposits in the world. Its goal is to become the leading producer of large flake crystalline graphite in North America and a prominent market participant internationally.
Safe Harbor Statement
All statements contained herein, as well as oral statements that may be made by the Company or by officers, directors or employees of the Company acting on the Company’s behalf that are not statements of historical fact, constitute “forward-looking statements” and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. In addition, estimates of mineral reserves and resources may constitute forward looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties are outlined in the Company’s Annual Report on Form 10-KSB for 2006 as filed with the Securities and Exchange Commission. There can be no assurance that future developments affecting the Company will be those anticipated by management or set forth in this news release. The Company is not obligated, and assumes no obligation, to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this news release.
Cautionary Note to U.S. Investors: The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. Our reference to a “resource” above may not be consistent with established SEC guidelines for the disclosure of mineralized material. U.S. investors are urged to consider closely our disclosure on Forms 10-QSB and 10-KSB (File No. 0-30651) which are available at the SEC’s website at http://www.sec.gov/edgar.shtml.
