NEWS RELEASE


EMC

ECUADORIAN MINERALS CORPORATION

January 23, 2002

Trading: TSE.EMC

ECUADORIAN TO CHANGE NAME TO INTERNATIONAL MINERALS CORPORATION AS OF JANUARY 24, 2002.

Ecuadorian Minerals Corporation (the “Company”) announces that the Toronto Stock Exchange has now issued its approval of the Company’s name change to “International Minerals Corporation”, which was previously approved by the Company’s shareholders on December 20, 2001 at its Annual and Special General Meeting. Commencing at the start of business of January 24, 2002, it is intended that the Company’s common shares will begin trading on the Toronto Stock Exchange under the name “International Minerals Corporation” and under the stock symbol “IMZ”.


ON BEHALF OF THE BOARD

Stephen J. Kay, President and CEO

The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.

For additional information, contact Linda North at Tel: (480) 483-9932 or Fax: (480) 483-9926.


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Ecuadorian Minerals Corporation is not a reporting issuer in the United States and the information provided herein is not a solicitation to sell shares. The Company, however, has maintained a Standard and Poor's Corporate Listing since July 1996.