West Vancouver, British Columbia â€" February 7, 2008 - International Bethlehem Mining Corp. (â€śBethlehem Miningâ€ť or the â€śCompanyâ€ť) wishes to retract some information contained in its previously issued press release dated January 29, 2008. In that press release the Company announced that it had entered into a Letter of Intent with Gold Summit Corporation (â€śGold Summitâ€ť) with respect to earning up to a 50% interest in Gold Summitâ€™s Monte Cristo Property. In the same press release, the Company disclosed that the â€śMcLean Lodeâ€ť on the Monte Cristo Property had a NI 43-101 inferred resource and also disclosed the grade and tonnage of this inferred resource. It is this disclosure that the Company wishes to retract. The NI 43-101 Technical Report that supports the inferred resource was prepared by Steven Ristorcelli, C.P.G., P.Geo. and George Sivertz, P.Geo. for Gold Summit in February 2006 and is available on SEDAR under Gold Summitâ€™s profile. The Company does not propose to prepare a NI 43-101 technical report for the Property at this time and as a result is not disclosing the inferred resource on the property as a current resource for the Monte Cristo Property.
The Company is working with Gold Summit to complete a definitive agreement for the proposed transaction.
The Company is in the business of the exploration and development of natural resource properties. For further information, please contact Mr. Clive Shallow, investor communications, at 604-922-2030 or visit the Companyâ€™s website at www.bethlehemmining.com.
International Bethlehem Mining Corp.
â€śRonald A. Coombesâ€ť
Ronald A. Coombes, President & CEO
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