IMA Exploration Inc: Frivolous Lawsuit Slows Canadian Company's Development of World Class Silver Discovery.VANCOUVER, British Columbia -- IMA (Interactive Multimedia Association, Annapolis, MD) An earlier trade association founded in 1988 originally as the Interactive Video Industry Association. It provided an open process for adopting existing technologies and was involved in subjects such as networked services, scripting Exploration Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:IMR IMR - Internet Monthly Report )(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :IMXPF)(FWB:IMT IMT, n.pr See inspiratory muscle training. )(BERLIN:IMT) announces that the Company has offered $100,000 - "nuisance value" - to Aquiline Resources Inc. to settle their ongoing lawsuit. "We have offered Aquiline a nuisance value sum to put this nonsense behind us," explained Mr. Grosso, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We have to get back to running our company and focus our energies on the development of Navidad, our extraordinary silver discovery in Argentina." IMA announced the discovery of its 100% owned Navidad silver project in Patagonia, Argentina, in March 2003. To date, IMA has defined an Indicated Resource of 268 million ounces of silver and 1.1 million tonnes of lead (50 g/t cut off, 80.8 M tonnes at 103 g/t silver and 1.45% lead), quickly making it one of the world's largest and purest silver deposits. In a suit filed in British Columbia in March 2004, Aquiline alleged IMA used confidential information to acquire Navidad. "There is absolutely nothing to the claim," Mr. Grosso said. "If this ever gets to court, we are confident it will be thrown out. But we have a responsibility to our shareholders and we must focus on making the potential of Navidad a reality, not on legal fees to fight opportunistic lawsuits." IMA is well financed to continue to test the numerous exploration targets at Navidad with significant drill programs. The Company has over 10 years experience in Argentina and is dedicated to the exploration and development of socially, economically and environmentally responsible mining opportunities. ON BEHALF OF THE BOARD Mr. Joseph Grosso, President & CEO 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. 2005 Number 4 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. IMA Exploration Inc. (TSX VENTURE:IMR) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :IMXPF) (FRANKFURT:IMT) (BERLIN:IMT) |
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