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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Matt C. Austin who wrote (27442)	11/18/1997 3:38:00 PM
From: Jack Sman	Read Replies (1) \| Respond to of 35569

I just walked in the door and saw this on the screen so excuse me if it was posted 100 posts ago. TORONTO--(BUSINESS WIRE)--Nov. 18, 1997--The board of directors of International Precious Metals Corp. (IPM) (NASDAQ:IPMCF) (CDN:IPMC) announced the following progress and milestones in the development of the company's Black Rock Project located in Arizona. -- Confirmation of an assay procedure for gold in Black Rock material -- Completion of independent verification program confirms the presence of gold and platinum -- Capital raising and use of proceeds -- Bateman Engineering's ongoing and expanded Development Program These milestones have come together at a time when IPM is looking to forge ahead in the determination of the economics of the Black Rock Project. The company is now finally positioned to move from the long-term research and development mode, to the final assessment of Black Rock's economic viability. Confirmation of Assay Procedures/Verification of Gold and Platinum The company's directors have received confirmation from an Arizona Registered Laboratory that a Modified Fire Assay Procedure is able to quantify amounts of gold and silver in Black Rock material. As a result of this advance, a number of samples held under chain of custody security were analyzed by the independent laboratory utilizing the modified fire assay procedure and yielded the following results: -0- T Sample Head Grade Head Grade Type Interval Type of Sample No. Gold oz/t Silver oz/t of in Collection Feet 168 0.017 2.770 Auger 30 - 35 - 181A 0.023 1.800 Auger 3 - 25 Chain Of Custody 143A 0.033 1.490 Auger 3 - 25 Chain Of Custody ˜181T 0.042 0.020 Trench 5 - 25 Chain Of Custody ˜181T 0.080 Not Determined Trench 5 - 25 Chain Of Custody ˜130A 0.052 1.500 Auger 40 - 45 - —127 0.035 1.300 Auger 15 - 20 - ˜181B 0.023 Not Determined Auger 25 - 50 Chain Of Custody ˜181B 0.020 Not Determined Auger 25 - 50 Chain Of Custody ˜ ˜Note: All of the values fall within the previously announced ranges ˜of grade for the Black Rock area, however, the above samples ˜represent only two limited areas. ˜ ˜T ˜-0- ˜ Independent verification by the modified fire assay procedures ˜confirms gold and silver at Black Rock, thus supporting the long-held ˜conviction of IPM management as to its existence on the property. ˜the initial 1-sq kilometer drilled grid. In addition to these assay ˜results, gold and platinum were established during the independent ˜verification program recently completed. — At this stage a platinum assay procedure has not yet been ˜confirmed by the registered lab. The company will continue its ˜scientific work in this area to increase the efficiency and accuracy ˜of the modified fire assay procedure. ˜ Bateman Engineering Inc., an international engineering group with ˜its U.S. headquarters in Denver, has confirmed the presence of gold ˜and platinum at Black Rock using the nominated recovery process in ˜the independent verification program. However, the process utilized ˜will most likely not be used for commercial development of the ˜project. ˜ Two samples were taken from two separate parts of the ˜one-kilometer grid and as such do not represent a meaningful average ˜for the total grid. These two samples of 20 lbs. each were ˜ IPM is finalizing a private placement with several institutional ˜investors for up to US $10 million. The placement will be in the —form of a redeemable convertible note with the conversion price based ˜on 125% of IPM's share market price. Proceeds from the placement ˜will be utilized for general corporate purposes in the further ˜development of the Black Rock project. The company expects to draw ˜down on this financing before the end of the month. ˜ The company and Omega Investment are negotiating an extension of ˜time on the purchase agreement with respect to the acquisition of the ˜additional 20% interest in the Black Rock property. IPM is also ˜negotiating the additional financing to conclude the purchase. ˜ ˜Bateman Engineering Inc. Development Program ˜ ˜ The program to develop the mining and recovery of precious metals expertise to assist in the development of a cost-effective process to extract metals. The company estimates that the Development Program will take between 12 to 18 months. Its objectives are to determine the grade, scale and economics of the project and produce a full feasibility document with a view to taking Black Rock into production. In Summary The board of directors of IPM understands and appreciates the commitment and dedication shown by the company's technical groups and by IPM shareholders. The board is very pleased with the accomplishments of the current milestones and is excited by the opportunities ahead. Much remains to be accomplished. Utilizing the assay procedures IPM will begin analysis on a backlog of 2,100 samples from the original grid. The objective is to determine a mean grade of the Black Rock material, one that represents a mineable grade with the peaks minimized. Completion of the testing and other tasks of the development program will result in an ore resource statement being calculated for the original grid. Thereafter, the intent is to expand testing to the additional five 1-sq kilometer grids of the Black Rock basin area to depth. The sequence of events that IPM will focus on over the next 12 to 18 months will include finalizing the ore resource statement and determining the economics of the project via the development program to a feasibility document. Based on the results of the program, IPM will advance to a stage where a financing package can be put in place prior to engineering design, construction and mining operations. -0- ISSUED AND OUTSTANDING CAPITAL 20,948,534 --30--kjs/ix* CONTACT: International Precious Metals Corp. Eli Constantine, 602/414-1830; Fax: 602/414-1831 or Registered Office, Toronto 416/368-1489; Fax: 416/368-5454 www.ipmcf.com - mag@ipmcf.com KEYWORD: ARIZONA COLORADO

To: Matt C. Austin who wrote (27442)	11/18/1997 4:05:00 PM
From: Tim Hall	Read Replies (5) \| Respond to of 35569

thall, Your memory sure is short. A few months ago you believed Coggins, there was no gold or platinum in AZ. Now you think a big drop in the price of IPM's stock has something to do with that ?? Looks like you should realize that you and the others have been wrong for years. ROFLMAO So Matt, how many shares have you bought over the last two days. I can tell that the market believes that the goods are there also. Why don't you call the company and ask them if Omega is still holding their 4,000,000 shares or did they sell them between Oct. 15 and Nov. 14. I can hardly wait for the big trial against AZDOM. Judge: What proof do you have? IPM: We have a modified fire assay that show their is some gold and platinum present, but we can extract more than we can assay. Judge: So you have a recovery process? IPM: Well yes we do but the amounts extracted don't really matter, it just proves the gold and platinum are present. Judge: So, exactly how much gold and platinum do you have? IPM: Well we know we have some and sometimes we have more but we never have none. As soon as BD, Bateman, Lyco, and whoever else we have to hire get done we will have more.