Decision by Court of Appeal

    RNS Number : 0235B
  International Consolidated Min. Inc
  11 August 2008
   

    EMBARGOED FOR RELEASE at 0700 on 11 August 2008
    International Consolidated Minerals Inc
    ("ICMI" or the "Company")
    Action by Precious Metals Capital Corporation ("PMCC")
    Decision made by the Court of Appeal

    International Consolidated Minerals Inc (AIM: "ICMI"), the South American focused mineral exploration and development company has been
informed that a decision was reached on Thursday 7 August 2008 by the Court of Appeal for deciding that the Ontario courts should assume
jurisdiction over non-Ontario defendants in the recent court case brought forward by PMCC.
    As previously disclosed at the time of readmission to AIM in September 2007, and more recently in ICMI's annual report and accounts for
the year ending 31 December 2007, ICMI having sought advice of Canadian and English counsel, continues to believe that PMCC's claim is
entirely without merit or foundation, and that the allegations made by PMCC in it's statement of claim remain to be proven in Court. ICMI
intends to take all necessary actions in Canada and elsewhere to fight the case vigorously to ensure this spurious claim is dismissed.
    Greg Smith, Executive Chairman of ICM commented: 
    "Although we're disappointed and believe that if the claim had any foundation, it should have been heard in England, the decision made
on Thursday 7 August merely permits a case to be heard in Canada and absolutely has no bearing on the validity of the claimant's case. We
continue to believe that the claim is entirely without merit, and we will take all necessary steps to fight to have the spurious claims
dismissed. 
    The operations at the Pachapaqui Mine will carry on and we're confident that it shall in no way hinder our aims to bring the mine into
production during 2009".
    Enquiries:
 International Consolidated Minerals 
 Greg Smith               Chairman, CEO              Tel: [phone]
 Pawan Sharma             Executive Vice President   Tel: [phone]
                          - Corporate Affairs
 Strand Partners Limited
 Simon Raggett                                       Tel: [phone]
 Matthew Chandler                                    Tel: [phone]
 Pelham Public Relations
 Charles Vivian                                      Tel: [phone]
 John McLeod                                         Tel: [phone] 

    ADDITIONAL INFORMATION ON INTERNATIONAL CONSOLIDATED MINERALS INC.
    International Consolidated Minerals Inc (AIM: ICMI), the South American focused mineral exploration company, was formed to pursue the
exploration, development and production of mineral assets with a focus in Latin America, and initially in Peru on the Pachapaqui Mine.
ICMI's strategy is to focus on the development of high-quality mining assets at an advanced stage of development. ICMIs main asset and
current focus is the Pachapaqui mining concession which contains zinc, lead, copper, silver and gold minerals. This concession was acquired
in 2005 along with 32 mining concessions of 2,105 hectares and one beneficiation concession of 65 hectares including a disused mine and
concentrator which is currently in the process of being upgraded.   In 2007, ICMI embarked on a drilling and exploration programme primarily
in and around the Mantos area and the company intends to use this project to increase resources and reserves. Further information is
available from the Company's website at: http://www.icmi-inc.com.

    - END -


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