Idaho Consolidated Metals Corp.; J-M Reef Stratigraphy Intersected In Sixth Hole Of 2001 Drill Program On Stillwater Complex.

Business Editors

DELTA, British Columbia--(BUSINESS WIRE)--July 18, 2001

The Company announced today that the fourth hole drilled in the Iron Creek area of the Stillwater Complex intersected a sulphide-bearing zone interpreted as TAZ1 (Troctolite-Anorthosite Zone). The TAZ1 zone hosts the J-M reef, a laterally extensive cumulate layer which is currently being mined at an average mining grade of 0.7 ounces per ton (opt) PGE.

Hole IC-01-04, was drilled at an azimuth of 205 degrees and an angle of 70 degrees and penetrated 80 feet of overburden and limestone, followed by 90 feet of plagioclase-bronzite cumulates. The TAZ1 Zone was penetrated at a depth of 170 feet and persisted to a depth of 490 feet. Below 490 feet the hole intersected plagioclase-bronzite-augite cumulates of the lower gabbro unit.

The TAZ1 zone in Hole IC-01-04 is characterized by highly variable cumulate layers, which include four olivine-bearing cycles and several anorthositic zones. Sulphide mineralization in the range of 1 to 5% pyrrhotite, pentlandite +/- pyrite +/- chalcopyrite was encountered at eight separate horizons within the interval 190 - 390 feet. Up to 30% sulphide locally occur within the interval 266 - 270 feet.

The existence of the TAZ1 zone within the Idaho project may indicate J-M reef type mineralization and grades within the Company's claim boundaries.

The Company's results are preliminary. The TAZ1 interval has been split and is being shipped to the Chemex Lab in Vancouver for assay. Results are expected within two weeks.

THE Company's shares trade on the Canadian Venture Exchange under the symbol "IDO" the corporate website is: www.montanaplatinum.com.

The Canadian Venture Exchange has neither approved nor disapproved of the contents contained herein.

Disclaimer: This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Canadian Venture Exchange and the British Columbia Securities Commission.