Kobex Minerals Inc.
|July 07, 2006|
IMA's Navidad Not Affected By New Chubut Mining Legislation
|IMA Exploration Inc. (IMR-AMEX , IMR-TSX.V) wishes to announce that the Provincial Government of Chubut in Argentina passed new mining legislation on June 29th, 2006, that covers a portion of the western part of the province. IMA's Navidad project is not affected by this new Provincial legislation. Navidad is located approximately 150 kilometres east of the area mentioned in Section 3 of the Provincial Constitution (see below).|
New Provincial Mining Legislation
"To suspend for a term of THIRTY SIX (36) months the metal-bearing mining activity, with exception to alluvial ore, in the area comprised between the Parallels 42 degrees and 44 degrees 30 minutes Latitude South, the Meridian line 70 degrees 30 minutes West Longitude and the international limit with Chile, in accordance with what has been established by Section 3 of the Provincial Constitution."
Exploration drilling and a Scoping Study are currently underway at Navidad, as well and the Company's ongoing socio-economic activities. To date, IMA has defined an Indicated Resource of 305.7 million ounces of silver and 2.9 billion pounds of lead (93.4 million tonnes at 102 g/t silver and 1.41 % lead using a 50 g/t silver equivalent cut-off), quickly making it one of the world's largest major silver deposits.
ON BEHALF OF THE BOARD
Mr. Joseph Grosso, President & CEO
For further information please contact Joseph Grosso, President & CEO, or Sean Hurd, Vice President, Investor Relations, at 1-800-901-0058 or 604-687-1828, or fax 604-687-1858, or by email email@example.com, or visit the Company's web site at http://www.imaexploration.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
You can view the Next News Releases item: Mon Jul 10, 2006, Phase IV Drilling at Navidad Intersects More Silver at Loma de la Plata for IMA Exploration Inc.
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