INTERNATIONAL ENEXCO FILES PRE-FEASIBILITY STUDY FOR CONTACT COPPER PROJECT, NEVADA
Vancouver, Canada -- October 10, 2013 - International Enexco Ltd. (TSX-V: IEC; OTCQX: IEXCF; Frankfurt: I6E) (the "Company" or "Enexco") is pleased to announce that it has filed a National Instrument 43-101 compliant Pre-feasibility Study (PFS) for its 100% owned Contact Copper Project. The report is available on the Company's SEDAR profile at www.sedar.com. Results from the report were announced in Enexco's October 1, 2013 news release.PFS Highlights
Open pit mining operation with 9.4 year life producing an average of 49 million pounds per year of cathode copper via heap leaching and SX-EW
Estimated cash cost of $1.73 per pound on 462 million pounds recovered copper
Initial capital cost of $189 million and total capital of $331 million life-of-mine
After-tax NPV-8% of $107 million and IRR of 25.9% at an evaluation price* of $3.20 per pound
Economic results support advancing the project to a feasibility study* A copper price of $3.20 per pound was used over the project life, and represents 98% of the 5-year trailing price for copper.
Qualified PersonWilliam Willoughby, Ph.D., P.E. is the Company's Qualified Person for the purposes of NI 43-101 and approved this news release. About International Enexco Ltd.International Enexco Ltd. is a North American exploration and development company focused on the Contact Copper Project in Nevada and the Mann Lake and Bachman Lake Uranium Projects in Saskatchewan's prolific Athabasca basin. The Contact Copper Project is 100% owned by Enexco. The Mann Lake project is a joint venture with Cameco (52.5%) as operator, Enexco (30%) and AREVA (17.5%), two of the world's largest uranium companies. The Bachman Lake project is a joint venture between Denison Mines Corp. (80%) as operator, and Enexco (20%).On behalf of the Board of Directors,
"G. Arnold Armstrong"President & CEO
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International Enexco est une société développant des projet miniers de cuivre et d'uranium basée au Canada.
International Enexco détient divers projets d'exploration au Canada.
Ses principaux projets en exploration sont LOOMIS, HOT POT PROJECT, MANN LAKE, CONTACT COPPER et MANN LAKE (JV) au Canada.