West Vancouver, British Columbia– August 17, 2011 – International Bethlehem Mining Corp. (the “Company” or “International Bethlehem”) is pleased to announce that the Company has received a Mines Act Permit which will allow the Company to commence drilling on its Myoff Creek Rare Earths Elements property (“Myoff Creek REE Property”). International Bethlehem is now mobilizing equipment and field crew to the property located approximately 100 kilometres by road north-northeast of the community of Seymour Arm in southeastern British Columbia.
In the coming weeks, International Bethlehem will begin an aggressive program of diamond drilling and regional exploration on the Myoff Creek REE Property. This first phase of diamond drilling is designed to test the grade and thickness of the historically known “REN carbonatite” at a depth of 25 metres to greater than 100 metres below the zone of surface weathering. The Company is planning on completing up to 16 holes from eight locations totaling 2,500 metres of drilling.
In addition, International Bethlehem has provided a grant to the University of British Columbia to support the M.Sc. research of Mr. Avee Ya'acoby. This work will benefit the Company in further understanding the genesis, mineralogy, geochronology and structural setting of intrusive and extrusive carbonatites on the property. Mr. Ya'acoby, an award-winning graduate of UBC Okanagan, is under the supervision of Professor Lee A. Groat on the Myoff Creek carbonatite.
The Myoff carbonatite zone is significant in size and is exposed at 1,150 to 1,600 metres elevation ASL on gentle, north-facing, subalpine slopes. The historic REN carbonatite zone was first discovered in 1983 and has been intermittently explored by prospecting, geological mapping, silt and soil sampling, spectrometer/scintillometer surveys, and by an aggregate of more than 1,100 metres of trenching and sampling in four main trenches covering approximately one kilometre of strike length by the previous owners including Duval International Corporation, Teck Explorations and Cross Lake Minerals. The REN main zone is a sheet-like body of intrusive carbonatite striking northwest-southeast and dipping from 25 to 45 degrees southwest. The zone has been traced for a distance over three kilometres and remains open along strike and varies in width from 10 to 200 metres.
During the past year, International Bethlehem has continued to evaluate the Property and, as reported in a news release dated December 16, 2010, confirmed historic Rare Earths, Niobium (Nb), Tantalum (Ta), Lanthanum, (La), Cerium, (Ce), and Neodymium, (Nd) grades. A total of five chip samples across a 50 metre exposed width of the carbonatite were taken. Sample I021217 (2.96 kg) returned 904 ppm Nd, believed to be the highest neodymium value yet recorded on the property. The weighted averages of Nb, Ta, Ce, La, and Nd (when converted to their oxides) are comparable with the results of previous sampling programs. Results tend to underline and confirm the generally erratic distribution of the elements of economic interest in the host carbonatite. They suggest enrichment of Nb, Ta, and to some extent Ce, La and Nd, in the central and hanging wall portions of the zone.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, Robert A. Young, Investor Relations, at 604-682-5123 or visit the Company’s website at www.bethlehemmining.com.
International Bethlehem Mining Corp.
“Ronald A. Coombes”
Ronald A. Coombes, President & CEO
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This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Such statements are not guarantees of future performance and actual results or developments may differ materially from those expressed in, or implied by, this forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.