IDM Mining Trenches Average 7.2 g/t Au and 56.6 g/t Ag at Randell Vein, Red Mountain Project

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IDM Mining Ltd


February 6th 2019, Vancouver, BC
– IDM Mining Ltd. (TSX-V:IDM) (OTCQB: IDMMF)(“IDM” or the “Company”) is
pleased to announce that final assays have been received from 2018
trenching of the Randell Vein area located in the Lost Valley area, four
kilometers south of the Red Mountain Resource area.  Additionally,
surface sampling assays from the Meg, Cambria and Dave’s Trench areas on
the Red Mountain Property, located in the Golden Triangle of northwest
BC, 15 kilometers northeast of the mining town of Stewart, BC.

Money Rock/Randell Structure, Lost Valley

Located in an area of recent glacial retreat, trenching during 2018
exposed a high-grade structure at Lost Valley and traced over 300 meters
of strike through systematic panel sampling, channel sampling and
trenching.  The final round of sampling includes 1.0 to 1.5-meter-long
panel samples from multiple trenches in a 9.0 by 7.3 meter area.  21
samples were collected averaging 7.17 g/t Au and 56.64 g/t Ag.  Good
continuity was exhibited in adjacent samples, with assays ranging from
1.65 to15.38 g/t Au and 8.69 to 203 g/t Ag.
 Sample material is
primarily quartz/pyrite colluvium, overlain by granite-dominated talus
suggesting that the mineralization is deteriorating in place by
weathering and glacial unloading.  The shallow-dipping Money Rock zone
hosts banded quartz with strong sulphide mineralization, primarily
coarse pyrite, with accessory molybdenite, chalcopyrite, sphalerite and
bismuthinite.  The structure ranges from 0.5 to over
9.0 meters in thickness, where exposed.  High-grade silver
samples in local panels within the Money Rock structure (previously
reported) include: 2,617, 2,059 and 846 g/t Ag

The Lost Valley area has received extensive prospecting and sampling
by IDM.  Since 2014, 713 samples have been collected, including panel,
channel, grab and float samples.  The average of all samples is 6.05 g/t
Au and 38. 67 g/t Ag, with samples ranging from trace to 165 g/t Au and
trace to 2059 g/t Ag.  A total of 237 samples assayed over 1.0 g/t Au,
117 over 5.0 g/t Au and 44 over 30 g/t Au.

Trenching completed during 2018 connected the high-grade Money Rock
and Randell Zones which originally were interpreted to be separate
structures since discovery in 2016.  Gold mineralization at Lost Valley
occurs within broad stockworks of gold-silver-molybdenum mineralization
within an early-Tertiary granite, similar to the late-Cretaceous age
Tintina Gold belt intrusive-related deposits located within Alaska and
Yukon, such as Fort Knox and Eagle Gold (Dublin Gulch).  The
high-grade gold-silver vein-hosted mineralization that was the focus of
the 2018 trenching program is similar in structure and geochemistry to
the Pogo Deposit, an underground gold mine in Alaska

The Money Rock structure occurs at the base of a cliff, which can be
traced for at least another 250 meters to the west; the Randell
structure can be traced for another 75 meters to the east through
intermittent sampling, along the base of a separate cliff face.

Sample distribution maps and photos are available on the and within the Red Mountain virtual tour at

Randell Vein Trenches

Figure 1. Randell Vein Trenches

Surface Sampling at Money Rock/Randell Vein, Lost Valley

Figure 2. Surface Sampling at Money Rock/Randell Vein, Lost Valley

During 2016, three drill holes from a single drill pad were completed
at the Money Rock zone, where across strike channel sampling averaged
18.7 g/t Au and 61.4 g/t Ag over 0.84 meters along a 33-meters of
strike.  These samples locally overlap the 2018 sampling.  Drill hole
LV16-01 intersected 1.0 meters of 3.0 g/t Au and 23.80 g/t Ag, and
LV16-02 intersected 1.2 meters averaging 4.63 g/t Au and 90.90 g/t Ag. 
All three holes intersected a post-mineralization dyke where the zone
was projected to occur from surface trenching (see IDM NR November 17, 2016).  Future drilling will target areas to the west and east of this dyke.

Meg, Dave’s Trench & Cambria Zone

1,200 meters southwest of the Marc Zone Resource, the Meg Zone
returned 5.67 g/t Au and 12.64 g/t Ag in a 0.50 meter channel, 3.88 g/t
Au and 56.75 g/t Ag in a 1.0 by 1.0 meter panel and 4.09 g/t Au and 140
g/t Ag in a grab sample, within an area of strong sulphide
mineralization and alteration.  This area has not been drill tested.

Over the past two years, a large new area of prospective
rocks was exposed by the rapidly melting Cambria icefield and measures
approximately 1,000 by 500 meters.
 Located immediately
northeast of the Marc Zone and north of the initial resource at the
Cambria Zone, gold mineralization has been discovered through
reconnaissance mapping and sampling.  Assays have been received for 54
samples to-date, averaging 1.44 g/t Au for all samples, including grab,
panel and channel sampling.  Mineralization is associated with pyrite
mineralization, similar to the Red Mountain resources; individual assays
range from trace to 18.74 g/t Au and 193 g/t Ag.   The Company is
encouraged by the prospectivity of this new area of new exposure at Red

Exposed within the access road from the Red Mountain camp to the
underground portal, strong pyrite/magnetite mineralization, with intense
propylitic altered Goldslide intrusive, was trenched during 2018. 
Results from this area included 14 channel and grab samples averaging
0.17% Cu and 0.02% Mo, with individual samples ranging up to 0.55% Cu
and 0.15% Mo, along with anomalous gold and silver.  Jurassic gold
deposits in the Golden Triangle are commonly associated with copper and
molybdenum systems.

QA/QC and Qualified Person

Samples from the 2018 program were collected by experienced
geologists and technicians, placed in sealed bags and shipped to MS
Analytical Labs in Terrace, BC for sample preparation, with pulps
subsequently shipped to Langley, BC for gold and multi-element ICP
analysis.  A Quality Control/Quality Assurance program including the
insertion of Standards and Blanks was implemented.  The 2018 Exploration
Program was performed under the supervision of Andrew Hamilton, P.Geo,
Senior Geologist for IDM Mining Ltd. and Robert McLeod, P.Geo, President
and CEO of IDM Mining Ltd; both are ‘Qualified Persons’ under NI
43-101.  Mr. McLeod has reviewed and approved the technical content of
this release.

2018 Sampling and Prospect, Red Mountain Propertyy

Figure 3. 2018 Sampling and Prospect, Red Mountain Property

Bridge Loan with Ascot Resources

The Company also announces that it closed
the previously announced $3.35 million secured convertible bridge loan
(the “Loan’) from Ascot Resources Ltd (“Ascot”) and has drawn down the
full amount.

The Loan has an interest rate of CDOR plus 9% per annum and is
convertible into IDM common shares at C$0.0857 per share.  If the
definitive arrangement agreement between IDM and Ascot is terminated,
the Loan will become payable within 30 days or six months of
termination, depending on the circumstances. If Ascot converts the Loan
into IDM common shares it will not vote its IDM common shares at the IDM
shareholder meeting to approve the transaction.

About IDM and Red Mountain

IDM Mining Ltd. is an exploration and development company based in
Vancouver, BC, Canada focused on advancing the Red Mountain Gold Project
towards production.  The 17,125 hectare Red Mountain Gold Project is
located in northwestern BC, 15 km northeast of the mining town of

Recently, IDM and Ascot Resources entered into a definitive
arrangement agreement whereby Ascot will acquire all outstanding common
shares of IDM. This transaction would result in the consolidation of
Ascot’s Premier Gold project and IDM’s Red Mountain project to create
the leading high-grade gold development and exploration company in BC’s
Golden Triangle. For more information on the transaction, please view
IDM’s press release dated January 7, 2019.

of IDM Mining Ltd.

“Robert McLeod”

President, CEO and Director

For more information, contact:

Robert McLeod
604-681-5672 office
604-617-0616 mobile

Investor Relations:
Vanessa Pickering
604-681-5672 office ext 7112
604-202-2940 mobile                                                                              

“Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.”

Forward-Looking Statements: Some
statements in this news release contain forward-looking information or
forward-looking statements for the purposes of applicable securities
laws.  These statements include, among others, statements with respect
to the proposed exploration and development activities and their timing,
resource estimates and potential mineralization.  These statements
address future events and conditions and, as such, involve known and
unknown risks, uncertainties and other factors, which may cause the
actual results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the statements.  Such factors include, among others and in
addition to those described elsewhere in this release, timing and
success of future exploration and development activities, exploration
and development risks, delays in obtaining or inability to obtain
government or other regulatory approvals, permits or financing, the
risk of unexpected variations in mineral resources, grade or recovery
rates, of failure of plant, equipment or processes to operate as
anticipated, of accidents, labor disputes, and unanticipated delays in
completing other development activities, the risk that estimated costs
will be higher than anticipated and the risk that the proposed mine plan
and recoveries will not be achieved, equipment breakdowns and bad
weather, the timing and success of future exploration and development
activities, exploration and development risks, mineral resources are not
as estimated, title matters, third party consents, operating hazards,
metal prices, political and economic factors, competitive factors and
general economic conditions.  In making the forward-looking statements,
the Company has applied several material assumptions including, but not
limited to, the assumptions that: required regulatory approval, permits
financing will be obtained; the proposed exploration and development
will proceed as planned; with respect to mineral resource estimates, the
key assumptions and parameters on which such estimates are based; that
the proposed mine plan and recoveries will be achieved, that capital
costs and sustaining costs will be as estimated, and that no unforeseen
accident, fire, ground instability, flooding, labor disruption,
equipment failure, metallurgical, environmental or other events that
could delay or increase the cost of development will occur, and market
fundamentals will result in sustained metals and minerals prices.  The
Company expressly disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise except as otherwise required by
applicable securities legislation.
  There can be no assurance that the Company will complete the proposed transaction with Ascot Resources Ltd.
on the proposed terms or at all.

Suite 1800, Two Bentall Centre
555 Burrard Street
Box 220
Vancouver, BC V7X 1M9
Tel: 604-681-5672