International Bethlehem Closes Private Placement
December 9, 2010
West Vancouver, British Columbia â€" December 9, 2010 â€" International Bethlehem Mining Corp. (the â€śCompanyâ€ť or â€śInternational Bethlehemâ€ť) is pleased to announce that, further to its news release dated November 19, 2010, International Bethlehem has closed its non-brokered private placement (the â€śPrivate Placementâ€ť). The Company has raised $130,000 by the issuance of 2,600,000 non-flow through units (the â€śUnitsâ€ť) at a price of $0.05 per Unit. Each Unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of $0.10 for a period of two years from the closing date. All of the securities issued pursuant to this Private Placement are subject to a hold period expiring on April 9, 2011. Certain of the Units subscribed for in this Private Placement were acquired by directors and senior officers of the Company.
The Company intends to use the proceeds from the Private Placement for general working capital purposes and for furthering the exploration of the Companyâ€™s Myoff Creek Rare Earth Elements Property located 55 km northwest of Revelstoke, BC.
For further information, contact Mr. Clive Shallow, investor relations at 604-922-2030 or visit the Companyâ€™s website at www.bethlehemmining.com.
International Bethlehem Mining Corp.
"Douglas L. Mason"
Douglas L. Mason, Director (Chairman)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.