International Enexco to Acquire Properties of Allied Nevada at Contact, Nevada; Valued At Approximately CDN$1 Million

International Enexco Ltd. is pleased to announce that it has signed a Letter of Intent with Allied Nevada Gold Corp. ANV to acquire the properties held by Allied Nevada in the Contact Mining District, Nevada. The properties are being acquired from Allied Nevada in a stock transaction valued at approximately CDN$1 million, in exchange for a total of about 8,400 acres that adjoin Enexco's Contact Project. With the acquisition, Enexco will hold approximately 15,000 acres in the district within 155 patented claims and 609 unpatented lode claims. Under the Letter of Intent Allied Nevada will receive 3.2 million shares of Enexco stock. In a 2010, NI 43-101 Updated Pre-feasibility Study on the Contact Project, resources on Enexco's property were estimated at 135 million tons at 0.26% Cu in Measured and Indicated categories, along with an Inferred Resource of 53 million tons at 0.27% Cu. Within the overall resources, a Mineral Reserve of 54 million tons of 0.29% Cu was determined. Arnold Armstrong, Enexco's President and CEO stated that: "The consolidation of properties is a significant step forward for the Contact Project and gives Enexco new options in exploration and development. I am pleased to have the support of Allied Nevada Gold in moving the project forward. A number of tasks are already underway for the feasibility study and permitting. We expect to have more news as to how the acquisition changes the scope of the project."