VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 04/11/13 — International Northair Mines Ltd. (TSX VENTURE: INM) (the „Company“ or „Northair“) is pleased to announce that, in compliance with National Instrument („NI“) 43-101, it has filed on SEDAR the Technical Report for the maiden resource estimate, as released on February 26, 2013, for its La Cigarra silver project located in north central Mexico. The Technical Report titled „San Gregorio / Las Carolinas Resource Technical Report, La Cigarra, Chihauhua, Mexico“ was completed by JDS Energy and Mining Inc. with the resource estimate by Arseneau Consulting Services („ACS“) and is available on the Company-s website by clicking the following link:
Resource Estimate
The resource estimate contained in the Technical Report was calculated based on results from 143 of 154 holes totaling 25,576 metres drilled along the open ended La Cigarra mineralized system which has a drilled strike length of at least three (3) kilometres. The 143 holes included in this initial resource estimate were positioned within a potentially surface minable mineralized area comprised of the San Gregorio and Las Carolinas mineralized zones, which combined form a total strike length of 2.1 kilometres within the known three (3) kilometres. The mineral resource estimate was constrained by a Whittle pit shell at an economic cutoff grade of 30 g/t of silver and metallurgical recoveries of 84% silver. Highlights of the mineral resource estimate are as follows:
A summary of the mineral resource estimate contained in the resource shell as calculated by ACS at a 30 g/t silver cut-off grade and metallurgical recoveries of 84% silver is listed below:
The mineral resources of the La Cigarra Project are sensitive to cut-off grade. To illustrate this, the block model quantities and grade estimates within the conceptual pit are presented in the following table at different cut-off grades.
The development of the comparative tables has relied on the work of experts as described in this release. The following factors should also be noted:
Immediate Resource Expansion Potential
Immediate exploration potential at La Cigarra exists within and adjacent to the current resource area (between sections 6+00S in Las Carolinas and 3+50N in San Gregorio) at a 30 g/t silver cut-off as presented in the table below. The potential silver quantity and grade is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain that further exploration will result in the target being delineated as a mineral resource. This exploration quantity and grade was determined based on a single drill hole within the 100m search ellipse.
Immediate Exploration Potential adjacent and within the San Gregorio/Las Carolinas Zones, La Cigarra Project
Click the link below to view a long section covering the San Gregorio and Las Carolinas zones demonstrates the meaningful drill intersections that encountered mineralization below and adjacent to the optimized pit, which were not included in the calculation of the resource estimate.
Furthermore, considerable resource exploration potential exists along the open continuous six (6) kilometre long La Cigarra mineralized system. This potential is in part supported by soil sampling along trend of the system, comprising the La Borracha Zone to the north (where nine (9) drill holes have intercepted significant silver mineralization) and the Las Venadas Zone to the south (which has returned surface silver values of up to 233 g/t silver over 2.5 metres). The defined target zone at Las Venadas covers an area of approximately 230 metres by 90 metres.
In addition, numerous other target areas within the remaining 32,000 hectare land package could host significant mineralization as evidenced by a cluster of historic workings and mineralized grab samples obtained from preliminary prospecting.
QA/QC
This news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and approved by Fred Hewett, the Company-s President and CEO, and a Qualified Person under NI 43-101.
The resource estimation work was completed by Dr. Gilles Arseneau, P.Geo. of Arseneau Consulting Services and an independent Qualified Person as defined under NI 43-101.
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 is currently focused on advancing its La Cigarra silver project located in the state of Chihuahua, which hosts a robust NI 43-101 compliant silver resource estimate that also contains appreciable lead, zinc and gold values. Excellent exploration potential exists to the north of the deposit within the La Borracha Zone (where nine (9) drill holes have intercepted significant silver mineralization) and to the south where the extension of the La Cigarra structure has demonstrated a strong mineralized system with numerous drill targets. The permissive geology and attractive surface sampling results present a compelling opportunity to expand the known resource. The Company is presently prioritizing target areas for an expected 2013 drill program.
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 President & CEO 604-687-7545 or 1-888-338-2200
International Northair Mines Ltd. Chris Curran Manager, Corporate Communications 604-687-7545 or 1-888-338-2200
International Northair Mines Ltd. Brent Levenstadt Investor Relations Associate 604-687-7545 or 1-888-338-2200 604-689-5041 (FAX)
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