INTERNATIONAL MINERALS CORPORATION

November 27, 2007 News Release

Commentary on Ecuadorian Politics relating to the Mining
Industry.

Ecuador Politics Related to the Mining
Industry

President Rafael Correa continues to consolidate his power base as the government goes about the business of constitutional reform, which will be implemented next year. So how does this affect the mining industry? There has been some good news announced recently, which includes:

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IAMGOLD’s news release on its Quimsacocha gold project, saying that it had reached agreement with the government to get “full support from the government for the project going forward” based on it having met the environmental needs of the project, including giving up certain non-critical concessions to ensure
the safety of the water supply in the area;

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Quiet moves/investments in Ecuador by the major mining companies, including Cornerstone’s recent announcement that it had formed a regional Joint Venture “alliance” with Newmont to explore in Ecuador. Newmont will provide equity financing and have certain rights to acquire interests in Cornerstone’s
properties. It is also a open “secret” in Ecuador that Barrick have been active in Ecuador for several months, and it does not need a fortune teller to guess that they have their sights set on Aurelian in order to obtain the world-class Fruta del Norte gold deposit. Kinross have also been actively looking at
projects in Ecuador over the past year or so.

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News from Corriente on its huge copper project, Mirador, that it had resumed work on its amended Environmental Impact Study, which had previously been dismissed by the government.

All indications are that the government is “open for business” provided that the companies can demonstrate that their
properties are in good standing, that they can deal equitably with the local communities, and that they accept there will be some form of government royalty imposed on future production based on a consensus of royalty provisions currently in force in other South American countries. IMZ certainly meets all
these criteria and we look forward to being a major player in developing the Ecuadorian mining industry with our Rio Blanco and Gaby gold projects.

Cheers,

Steve Kay Stephen J Kay

President/CEO

Looks like these folks like to vacation in Ecuador.