IMC Exploration Group Plc - Memorandum of Under...

17 October 2012

IMC Exploration Group Plc
("IMC" or the "Company")

Memorandum of Understanding (MOU) signed with International Partner for Afghanistan Opportunity

IMC Exploration Group Plc (IMC) is pleased to provide the following summary and update on its activities.

On 20th September IMC announced very promising gold results from its Wexford licence and, on 11th October announced findings from further drilling in Tulla, Clare, confirming the area's potential to host significant zinc and other base metal mineralization.

Harvest Resources Limited ("Harvest"), a resource exploration company registered in the United Arab Emirates, recently approached IMC with a view to leveraging the geological expertise of both companies by way of joint venture.

Subsequent to this initial approach, a Memorandum of Understanding ("MOU") has been signed with Harvest to facilitate targeted exploration of minerals such as copper, lead, zinc, gold and silver in Afghanistan.

In addition, the MOU also provides for the development of oil and gas opportunities in Afghanistan.

Managing Director of IMC, Dr Glenn Millar commented, "This is a very exciting time for the company with positive gold results in Wexford, as well as favourable geology with the potential to host significant zinc and other base metal mineralization in Tulla. Signing the MOU with international partners Harvest, will enable IMC to broaden its geographical focus and further leverage the expertise and ability of the company's world class geological team".

The Directors of the company accept responsibility for the contents of this announcement.

For further information please contact:

IMC Exploration Group Plc
Mr. Liam McGrattan
Investor Relations
Tel. Ireland: [phone]

Mr. Hugh Gibney
Executive Chairman
Tel. Ireland: [phone]

Dr. Glenn Millar
Managing Director
Tel. Ireland: [phone]

Kathryn Byrne
Limelight Communications
Tel. Ireland: [phone]

Samrat Bhandari
William Albert Securities Limited
Tel. [phone]

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Source: IMC Exploration Group Plc via Thomson Reuters ONE

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