bingo - m bank and a premium

US$30 MILLION DEBT FACILITY - MACQUARIE BANK LIMITED
2 September 2009
Industrial Minerals Corporation Limited (IDM:ASX) (“the Company”) is pleased to announce that it has
received a Committed Letter of Offer (“Offer”) from Macquarie Bank Limited (“MBL”) to provide a Debt
Facility (“Facility”) of US$30 million to its wholly owned subsidiary, Oregon Minerals Corporation Inc. to
partially fund the development of the Company’s Southern Oregon Mineral Sands project (“Project”). The
Offer requires that an equity contribution of US$15 million be committed to the development of the Project.
Bligh Capital (“Bligh”) was responsible for procuring the Offer from MBL and has been engaged to secure
the requisite equity component. Bligh has advised that it has engaged with several parties who have
indicated a desire to provide all or part of the planned US$15 million equity.
The Company expects the equity issue to be made at a premium to the closing price of IDM shares on ASX
prior to the most recent request for a trading halt and conditional upon the irrevocable commitment for a
minimum of US$30 million debt facility.
Further details of the Company’s response to the Offer from MBL and of its terms together with progress
towards the equity funding will be provided as soon as is appropriate.

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