International Bethlehem Acquires More Property Near Its Myoff Creek Rare Earth Elements Property
September 6, 2011
West Vancouver, British Columbia â€" September 6, 2011 â€" International Bethlehem Mining Corp. (the â€śCompanyâ€ť or â€śInternational Bethlehemâ€ť) is pleased to announce that it has, subject to regulatory approval, entered into an option agreement to acquire 8 mineral claims, which claims are contiguous to the Companyâ€™s â€śMyoff Creekâ€ť rare earth elements properties located near Revelstoke, British Columbia.
The additional claims are being acquired from Warner Gruenwald, P.Geo., of Vernon, BC (â€śGruenwaldâ€ť). Under the option agreement (the â€śAgreementâ€ť) with Gruenwald, the Company has agreed to (i) pay $5,000 and issue 100,000 shares on TSX Venture Exchange acceptance of the Agreement and (ii) to pay an additional $30,000 and issue an additional $50,000 worth of shares of the Company (up to a maximum of 375,000 shares) over the next three years. The claims being acquired will be subject to a 2% net smelter return royalty (the â€śRoyaltyâ€ť) in favour of Gruenwald and the Company has the right to purchase the Royalty, in whole or in part, for $1,000,000 ($500,000 for each 1% NSR).
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 Companyâ€™s website at www.bethlehemmining.com.
International Bethlehem Mining Corp.
â€śRonald A. Coombesâ€ť
Ronald A. Coombes, President & CEO
Neither the 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.