Retains Financial Advisor

RNS Number:4970R
International Consolidated Min. Inc
03 April 2008

3 April 2008

                    International Consolidated Minerals Inc

                           ("ICMI" or the "Company")

                   Retains Credit Suisse as Financial Advisor

                       to evaluate Strategic Alternatives



International Consolidated Minerals Inc (AIM: "ICMI"), the South American
focused mineral exploration and development company is pleased to announce that
it has retained Credit Suisse as its financial advisor to assist the Company in
evaluating strategic alternatives to maximize shareholder value from its
Pachapaqui Project in Peru.

These alternatives may include, but are not limited to, the development of the
Pachapaqui Project by the Company itself, strategic alliances to assist in the
development of the Pachapaqui Project, financing opportunities, mergers,
acquisitions, a sale of all or part of the business, or such other alternatives
that are considered to be in the best interests of the Company and its
shareholders.

Greg Smith, the Company's Executive Chairman and Founder Shareholder commented:

"We are extremely pleased with the results obtained from the work undertaken on
our Pachapaqui Project to date and are now ready to move to the next phase of
developing the Project.

Our broker, Fox-Davies Capital, published a research note in January 2008 (the 
"FDC Report") that indicated a valuation for the Company of US$762 million, on a
fully diluted basis with a price of US$14.93 per share. We have, since
publication of the FDC Report, announced that our drilling results indicated at
least 15 million gross additional tonnes of in-situ mineralization in the Mantos
area, new gold bearing potential from a breccia pipe, new copper and zinc
discoveries and preliminary assay results from the Mantos area which are
consistent with the ore grades contained in our competent persons report from
our mining property in Pachapaqui in Peru. Despite announcing such significant
finds for ICMI, which substantially increase the value of the reserves and
resources of the Company, we have not yet seen a corresponding increase in our
market capitalization.

We have therefore retained Credit Suisse as our financial advisor to assist in
reviewing our strategic alternatives with the objective of  maximizing
shareholder value, and we look forward to working with them to ensure that all
alternatives available to the Company are considered and evaluated to achieve
that objective."

Marv Pelley, the Company's Chief Operating Officer, commented:

"In September 2007, when we listed the Company's shares in London, we had an
inferred resource of 7.4 million tones. In January of this year, we announced
that our exploration results indicated at least 15 million additional tonnes of
in-situ mineralization.

In addition to the resource being substantial, it is our opinion that the
Pachapaqui mineral deposit has advantages that are completely unique. It is
located in a stable country that welcomes mining and in a district that
possesses excellent infrastructure with an experienced labor force readily
available. We believe that Pachapaqui is a world-class asset and we will
continue its development on a fast track basis."

On 17 January 2008, the Company announced preliminary results from the first
phase of an ongoing, long term exploration programme at its Pachapaqui (Peru)
polymetalic mining property.  During 2007, ICMI has 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
indicated 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 quarter of 2008. This
exploration area is just one of several high potential prospects and discoveries
made by ICM's exploration campaign to mid December 2007.

On 1 April 2008, the Company announced summary data on a gold bearing potential
from a breccia pipe, new copper and zinc discoveries and preliminary assay
results from the Mantos area from its polymetalic mining property in Pachapaqui
in Peru.

It is anticipated that the evaluation of strategic alternatives for the Company
will require an extended period of at least several months. There can be no
assurance that any particular alternative will be pursued nor that any corporate
transaction will occur.



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]
Warren Pearce                                                        Tel: [phone]

Pelham Public Relations
Charles Vivian                                                       Tel: [phone]
Kate Newton                                                          Tel: [phone]

Fox-Davies Capital Limited
Daniel Fox-Davies                                                    Tel: [phone]
Richard Hail                                                         Tel: [phone]

Thomas Wiesel Partners (UK) Limited
Stefan Edelman                                                       Tel: [phone]
Paul Newman                                                          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.



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