International Bethlehem Terminates Option Agreement
January 16, 2009
West Vancouver, British Columbia â€" January 16, 2009 â€" International Bethlehem Mining Corp. (the â€śCompanyâ€ť) previously entered into an Option Agreement with Gold Summit Corporation of Reno, Nevada (â€śGold Summitâ€ť), pursuant to which the Company had the right to acquire up to a 50% interest in Gold Summitâ€™s â€śMonte Cristoâ€ť property in Nevada, USA. The Monte Cristo Gold-Silver property is located in the historic Gilbert mining district, 50 km (30 miles) northwest of the town of Tonopah, Nevada. The Monte Cristo property and the surrounding area have been the focus of precious metal explorations and small scale mining since the discovery of a high-grade gold mineralization near the Gilbert townsite in 1924.
During 2008, the Company participated in an exploration program on the Monte Cristo property with Gold Summit as the operator. The Company is of the opinion that the Monte Cristo property has potential, however, in light of the current market conditions, the Company has decided that it will not be participating further under the Option Agreement. The Company wishes Gold Summit success in its endeavors to develop the Monte Cristo property.
For further information, contact Mr. Clive Shallow, investor communications, at 604-922-2030 or visit the Companyâ€™s new website at www.bethlehemmining.com.
International Bethlehem Mining Corp.
â€śRonald A. Coombesâ€ť
Ronald A. Coombes, President & CEO
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release.