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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: ddl who wrote (1982)	2/4/1997 9:15:00 AM
From: C L	of 35569

February 4, 1997 INTERNATIONAL PRECIOUS METALS CORPORATION LATEST PRESS RELEASE NASDAQ: IPMCF CDN: IPMC Recovery Test Program Advances to Pilot Plant Scale Toronto, February 4, 1997 -- International Precious Metals Corporation (IPM) announced today that the research facility contracted to perform all precious metals recovery test work has completed their bench and mid-volume batch phases. The test program reported on December 19, 1996 has successfully progressed from the 150 gram bench phase through the 10 and 22 kilogram batch phase, and now moves to the bulk test pilot plant. The assay returns from these phases indicate no degradation of recovery from previously announced results of 0.25+ oz/ton gold. As a result of the consistency of gold recoveries, IPM has moved the test program forward on schedule to bulk samples of approximately 250 to 500 kilograms. The tests will be performed independently utilizing a $3 million bulk test pilot plant. The facility was specifically designed for the processing of ores under highly controlled conditions, providing for the fine-tuning and optimization of the recovery process. IPM and the research facility expect the current round of pilot scale testing to be completed around mid-February. Behre Dolbear & Co., Inc., IPM's mining engineering consultants, in the normal course of their responsibilities, has been instructed to secure a suite of new BRX bulk samples for delivery to the pilot plant facility during the week of February 17th. Bulk sample process procedures for precious metals recovery will then recommence with Behre Dolbear monitoring.

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