ITC Intercontinental Mining (Tier2)

International Technologies Corporation (TSX VENTURE:ITI) -

A correction from source is issued with respect to the release issued today at
6:28 pm EDT. The word "third" in the second paragraph should have read "second".
The corrected release follows:


International Technologies Corporation ("ITC") (TSX VENTURE:ITI) (or "the
Company") announced today its unaudited financial results for its second quarter
ending June 30, 2007.


Consolidated revenues were $4,979,608 for the three months ending June 30, 2007
compared to $6,299,170 for the corresponding quarter in June 30, 2006. ITC sold
approximately the same volume of units in the second quarter 2007 compared to
the three months ending June 30, 2006 however industry wide price fluctuations
and changes in the Company's accounting policy muted top line performance.
Market prices have since stabilized providing ITC with clearer forecasting
abilities, an opportunity to introduce higher margin products to its supply
chain and the implementation of other strategic initiatives.


"It has been an unpredictable ride in the consumer electronics space over the
last couple years. Digital technology is advancing faster than ever with
clearance products flooding the market to keep up with demand for new
innovation," said Michael Uhm, ITC's President and CEO. "Despite industry
volatility, ITC maintains a solid position in the marketplace and has leveraged
existing relationships to enter new regions that have less competition and
greater opportunities. Our commitment to forge ahead and return to double digit
growth remains a top priority."


The Company's gross margin was $935,433 or 18.8% for the three months ended June
30, 2007 compared to $1,125,722 or 18% a year earlier. ITC's gross margin was
affected as a result of clearance sell-offs when a major MP3 supplier released
new product earlier than expected in the year causing all other suppliers to
discount their products in order to remain competitive.


EBITDA was $308,867 or $0.02 per share for the quarter ended June 30, 2007,
compared to $244,453 or $0.02 per share for the same period in 2006. The Company
had net income of $23,635 and $0.00 per share versus $81,769 or $0.01 per share
for the second quarter 2006.


ITC's latest models of MP3/MP4 and PMP players include the same must-have new
features of other top selling brands, at more attractive price points. The
Company anticipates Back to School and Christmas sales will generate higher
returns now that market prices have stabilized. PMP and MP3/MP4 players
represent one of the fastest-growing segments of the consumer electronics
industry today, with unit shipments expected to more than double to 268.6
million units in 2011, according to a leading U.S. research firm, iSuppli Corp.


In addition to marketing feature-rich, easy to use digital products which carry
a significant competitive advantage, the Company's manufacturing partner MPIO
International has increased its facilities in Asia to better serve the needs of
its reseller partners. Facility enhancements are now fully operational and have
provided improvements to distributor pricing which ITC anticipates will show in
its full year 2007 fiscal performance.


The Company remains confident of its ability to better manage market
uncertainties having taken steps to minimize further risk. ITC plans to increase
the number of customer accounts and deliver additional value-added products and
services to its existing sales channel in order to enhance its market presence
further.


The Company's complete financial results can be found on SEDAR at www.sedar.com.

About ITC

International Technologies Corporation (www.itcco.com) is a global supplier of
innovative digital audio, multi-media, home entertainment, flat screen
monitors/televisions and other advanced electronics products to the consumer and
commercial market place. ITC also creates private label and OEM brands for its
retail partners. The Company's ability to deliver manufacturer-direct product
provides savings and other significant advantages to its customers.


ITC holds the exclusive rights to distribute MPIO products to the North, Central
and South American markets in addition to Mexico and Australia through its
relationship with Digitalway Korea and has exclusivity on all Hansol Korea LCD
monitors sold to the North American market.


Except for historical information contained herein, this news release contains
forward-looking statements that involve risks and uncertainties. Actual results
may differ materially. Factors that might cause a difference include, but are
not limited to, market acceptance of principal products, the impact of
competitive products and technologies, the possibility of products infringing
patents and other intellectual property of fourth parties, and costs of product
development. ITC will not update these forward-looking statements to reflect
events or circumstances after the date hereof. More detailed information about
potential factors that could affect financial results is included in the
documents filed from time to time with the Canadian securities regulatory
authorities by ITC. (This release is not a solicitation to United States
residents to purchase securities in the Company).

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