ICMI Intl. Cons. Min

RNS Number:9549L
International Consolidated Min. Inc
17 January 2008

FOR IMMEDIATE RELEASE





17 January 2008





                    INTERNATIONAL CONSOLIDATED MINERALS INC.
                            (the "Company" or "ICM")





                     EXPLORATION RESULTS INDICATE AT LEAST
  15 MILLION ADDITIONAL TONNES OF IN-SITU MINERALIZATION FROM ITS POLYMETALIC
                            MINING PROPERTY IN PERU





International Consolidated Minerals Inc. (AIM: ICMI), the exploration and
development mining company with assets in Peru, is pleased to announce
preliminary results from the first phase of an ongoing, long term exploration
programme at its Pachapaqui (Peru) polymetalic mining property.  During 2007,
ICM have been carrying out an extensive drilling campaign targeting only one
small portion of the Pachapaqui property, a mineralized zone referred to as the
Mantos Zone.  Drilling to date indicates at least 15 million gross tonnes of
in-situ mineralization in the Mantos area. Whilst these results are not JORC
compliant, the Company expects to release a JORC compliant resource estimate in
the 2nd Qtr 2008. This exploration area is just one of several high potential
prospects and discoveries made by ICM's exploration campaign to mid December
2007.

ICM owns a 100% interest in the past producing Pachapaqui base and precious
metals mining property in Peru, South America, which ICM intends to explore,
develop and ultimately bring back into production.

The Long Range Exploration Programme

In this initial stage of a long range exploration programme, to the middle of
December 2007, ICM has successfully drilled and logged 59 diamond drill holes
(over 14,000 metres) in the Mantos Area, and has received and compiled
geological information and assay results from core from 25 of these holes (over
5,700 metres).

All 59 completed diamond drill holes intersected mineralization. Most of the
mineralisation in the Mantos Area is contained within three sub-parallel
mineralized vein-like zones: "Esperanza", "Intermedio" and "Matter", ranging in
true thickness from 1 1/2 to 8 metres, 1 1/2 to 5 metres, and 2 to 32 metres,
respectively. These zones are separated by rock of 'low-to-no' mineralization
totaling up to 25 metres between all three zones. The Mantos zones have been
delineated from drill hole information combined with exposure at surface and in
underground workings for a strike length of 500 metres and a down-dip length of
over 600 metres from surface to at least the 4,000 metre elevation.  They have
an average combined true thickness of approximately 18 to 25 metres and are
contained within a limestone host rock; both the host rock and the
mineralization dip at an average of 55 degrees towards the south-west.

 Preliminary Results

Results from the first 25 holes indicate in the order of 15 million gross tonnes
of in-situ mineralization in the focus area at metals grades reasonably
consistent with the ore grades contained in the existing Proven and Probable Ore
Reserves for the Mantos Area (2.2 million tonnes at 4.42 oz/t Ag, 2.40% Pb,
4.87% Zn, and 0.63% Cu).
                            Assays Results to 15 Dec 07  (25 out of 59 holes)
                         Inters'ns     Avg Width                     Average Grades
          Vein                                        Au       Ag         Pb         Zn         Cu
                            No.           (m)       g/tne    oz/tne       %          %          %
    Esperanza               18            6.4        0.25     2.93       1.57       3.70       0.44
    Intermedio              19            3.3        0.24     3.34       1.18       2.31       0.34
    Matter                  23            6.6        0.13     8.94       1.68       3.61       0.39
    Amelia's                23            7.5        0.33     4.73       1.73       3.43       0.71
    Total                   83            23.7       0.24     5.41       1.61       3.41       0.50

    These holes are drilled in attempts to define the boundaries of the veins of the Mantos area, and
    may not be representative of the entire Mantos area veins.





In addition, the Mantos zones are open at depth and have been confirmed by drill
holes to be open along strike to the north-west to a distance of least 300
metres outside the current focus area, although the zones appear to be thinning
out at that point. The 300-metre portion of the deposit to the north-west of the
focus area is eroded down to the 4,200 metre elevation from 4,500 metre
elevation in the focus area, and the tonnes in this portion are not included in
current estimates. The capability of the diamond drills has limited the
delineation of the mineralized zones to above the 4,000 metre elevation in the
focus area.

The Mantos mineralized zones are intersected by a series of narrower mineralized
structures referred to as "Amelia" veins. These veins range from 0.5 to 8.0
metres in width and contain mineralization that is of higher grade than the
Mantos in the current reserves. At least nine of these veins have been
intersected in the 2007 drill programme. The near vertical veins have strike
lengths of up to 300 metres and have been identified throughout the entire
vertical extent of the focus area.

The remainder of the drilling program in this stage of the Pachapaqui
exploration programme, along with the tunneling, is designed to improve the
quality category of resources within the Mantos focus area rather than add
additional outside tonnes.

Seymour Sears, ICM's Consulting Geologist commented:

"ICM is at a stage now where we are in fact drilling off an ore body, improving
our resources category in the focus area by infill drilling and developing
drifts off what we have already delineated to date, rather than exploring for
new resources tonnes."

A property wide geological mapping programme is currently being carried out at
Pachapaqui.  The mapping has identified several mineralized zones that add
excellent exploration potential for the project.  These include:

*        Cu-Zn-Ag-Pb mineralization in skarn zones along the eastern side of the
property. This skarn-type mineralization has been traced for in excess of two
kilometres on the property; mineralization has been observed within a skarn
envelope that is in excess of 200 metres thick in some areas and is of unknown
depth.

*        Porphyry style Cu-Ag-Zn-Pb mineralization in an intrusive complex that
underlies the skarn zones in the eastern part of the property. The intrusive
complex extends in excess of 2,500 metres on the property, mostly covered by
gravel and glacial debris; one exposed section of this intrusive displays
stockwork style Cu-Zn-Ag mineralization which has been traced for in excess of
200 metres by 100 metres and is of unknown depth.

*        Ag-Au-Zn-Pb-Cu mineralization in a diatreme breccia (collapsed Caldera)
along the southwest side of the Mantos zone near the center of the property.
This structure has a surface exposure measuring approximately 500 metres by 900
metres and has a vertical depth defined by surface exposures and drill
intersections of at least 600 metres; mineralization occurs within the matrix of
the breccia in zones that are up to 80 metres in thickness in drill
intersections.

The focus for the remainder of the current exploration programme will be on an
additional 1,700 metres of drilling and 400 metres of tunneling by the end of
the 1st Qtr 2008. The diamond drill holes will be mostly as short definition
drilling in the Mantos focus area. In addition, ICM intends to drill another
1,200 metres in areas adjacent to Mantos as a  preliminarily test of other
targets. Furthermore, ICM intends to complete a preliminary property-wide,
surface geological map accompanied by detailed geological mapping in selected
areas. This work is designed to develop an 'order-of-magnitude' prospect
inventory and gain a better understanding of the potential for new discoveries
for the entire property. These will assist in prioritizing exploration targets
and the formulation of future Pachapaqui exploration programmes.

Gregory Smith, Chief Executive Officer, commented:

"ICM is very excited about these initial results of the Company's long range
exploration programme at the Pachapaqui project. Our objective is to increase
and improve the quality of the mineral resources and reserves at the mine, and
bring it to a world class mining property, for increased shareholder value, and
to benefit our employees, the neighboring communities, and, indeed, the country
of Peru."

The Competent Person who has signed off on the contents of this release is
Seymour Sears, P.Geo., who is a member of the Association of Professionals
Geoscientists of Ontario.



Enquiries


Greg Smith, Executive Chairman     International Consolidated Minerals Inc           Tel: +44 (0) 7717 880923

Simon Raggett/ Warren Pearce       Strand Partners Limited, Nominated               Tel: +44 (0) 20 7409 3494
                                   Adviser
Kevin Tomlinson, Managing Director Thomas Wiesel Partners (UK) Limited              Tel: + 44 (0)20 7290 9722
Richard Hail, Head of Corporate    Fox-Davies Capital                                Tel: +44 (0)20 7936 5200
Finance
Charles Vivian/Kate Newton         Pelham PR                                         Tel: +44 (0)20 7743 6672







NOTES TO EDITORS



The Pachapaqui mining property

The Pachapaqui mining property, consisting of 32 "Mining Concessions" and one 
"Beneficiation Concession" with a combined surface area of 2,170 hectares, is
located approximately 240 km northeast of the capital city of Lima. Included on
the property is an 800 tpd milling and concentrator complex, associated
infrastructure (housing, roads, electrical distribution) and two hydroelectric
generating stations capable of producing up to 2,500 KVA of electricity, all of
which require rehabilitation and upgrading. Direct from the property is a first
class paved highway that runs 370 km to Lima and its port facilities. In
addition a 230 KVA power line, part of the national power grid, passes through
the property.

The Geology

Geologically, the property lies within the regional Central Mineral Belt of
Peru, a geological province that hosts numerous "world class" deposits.
Geological structures and mineralized deposits at Pachapaqui are similar to
those of the Cerro de Pasco area (140 km southeast), Antamina (45 km north), and
Pierina (70 km northwest), all renowned producers. Although it has produced in
the past, the property has never been subjected to an organised, sufficiently
funded, systematic exploration programme to quantify the potential of its
mineral resources. There have been varying resources estimates of up to 148
million tones calculated  from reconnaissance type geological surveys by outside
independent geologists. CSA Consulting International Limited (CSA), in its
August 2007 Competent Person's Report on Pachapaqui, states that a "targeted
drilling campaign can plausibly produce resources to over 100 million tonnes".

Although there are many known deposits within the Mining Concessions still
remaining to be quantified, together with the potential for many other new
discoveries, ICM has focused its current exploration and development from
surface and new development tunnels on one section of the property, named the 
"Mantos Area", making up only 0.3% of the Mining Concessions area.





GLOSSARY OF TERMS


Beneficiation         The dressing or processing of coal or ores for the purpose of (1) regulating the size of
                      a desired product, (2) removing unwanted constituents, and (3) improving the quality,
                      purity, or assay grade of a desired product.


Breccia               A coarse-grained clastic rock, composed of angular broken rock fragments held together by
                      a mineral cement or in a fine-grained matrix; it differs from conglomerate in that the
                      fragments have sharp edges and unworn corners. Breccia may originate as a result of talus
                      accumulation, explosive igneous processes, collapse of rock material, or faulting.
                      Etymol: Italian, broken stones, rubble. brecciated.


Concentrator          A plant where ore is separated into values (concentrates) and rejects (tails). Equipment
                      is located in and near the plant, e.g., flotation cell, jig, electromagnet, shaking
                      table. Also called mill.


Dip                   The angle at which a bed, stratum, or vein is inclined from the horizontal, measured
                      perpendicular to the strike and in the vertical plane.


KVA                   Kilo Volt-Amps (one thousand volt-amps).


Mineralization        The process or processes by which a mineral or minerals are introduced into a rock,
                      resulting in a valuable or potentially valuable deposit. It is a general term,
                      incorporating various types; e.g., fissure filling, impregnation, and replacement.


Porphyry              An igneous rock of any composition that contains conspicuous phenocrysts in a
                      fine-grained groundmass; a porphyritic igneous rock. The term (from a Greek word for a
                      purple dye) was first applied to a purple-red rock quarried in Egypt and characterized by
                      phenocrysts of alkali feldspar. The rock name descriptive of the groundmass composition
                      usually precedes the term; e.g., diorite porphyry. Obsolete syn: porphyrite.


Skarn                 When a limestone or marble is invaded by a high-temperature hydrothermal solution, the
                      carbonate minerals calcite and dolomite react strongly with the slightly acid solution to
                      form a class of mineral deposit called a skarn. Most skarns are found immediately
                      adjacent to intrusive igneous rocks.


Tpd                   Tonnes per day.








                      This information is provided by RNS
            The company news service from the London Stock Exchange
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