IGC Resources Inc.
TSX VENTURE : IGC
FRANKFURT : I6G
PINK SHEETS : IGCGF

IGC Resources Inc.

November 14, 2007 10:10 ET

IGC Resources' Drilling Success Finds New Gold Mineralisation at Blackburn Project, Western Australia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2007) - IGC Resources Inc. ("IGC" or the "Company") (TSX VENTURE:IGC)(PINK SHEETS:IGCGF)(FRANKFURT:I6G)(WKN:A0HGX4) is pleased to announce that preliminary results from the reverse circulation drilling programme have identified a number of new zones of gold mineralisation at the Company's Blackburn Gold Project. The drilling programme was designed to identify any possible additional resources other than the already identified Jinkas deposit specifically targeting four VTEM anomalies derived from the recently completed helicopter VTEM survey. These preliminary results attest to the success of the exploration programme. In total 21 holes for 1,977 meters was completed.

The Company is very encouraged by the result which demonstrates that gold mineralisation is present some distance away from the known deposit and along the main structural corridor. The Jinkas deposit is now seen to be a much wider zone than previously thought with positive results west of any previously known drilling.

The Company intends to commence the next stage of reverse circulation drilling required to identify the full extent of the newly found gold mineralisation both laterally and vertically and to assist the Company in adding to the existing resource inventory.

The source of one VTEM anomaly (Jinka East) to the immediate east of the main Jinkas deposit was intercepted by drill hole BRC011 and returned up to 8 meters ("m") at 4.29 parts per million ("ppm") gold including 1m @ 9.05ppm gold and 1m @ 9.66ppm gold with the hole terminating in mineralisation.

Further drilling at approximately 150 meters along strike to the south (BRC021) intercepted anomalous (greater than 0.1ppm) gold including 3m @ 1.35ppm gold. This is inferred to be evidence of lateral continuation of the same zone. The zone remains open in all directions.

Two of the remaining three VTEM derived targets returned intervals of anomalous gold accompanied with elevated pyrite and pyrrhotite mineralisation. The Company's technical staff considers this an indication that the drilling was in close proximity to the source of the VTEM anomaly; however the anomaly itself was not directly struck. Downhole EM (yet to be completed), combined with the results of the latest drilling, should enable the Company to target more accurately the source of the VTEM anomaly.

At the Cheetham Anomaly one drill hole at the far southern extent of the anomaly (hole BRC20) did encounter narrow zones of anomalous gold. Further testing of the main coincident VTEM and aeromagnetic anomalies at this location is seen as a priority in the next phase of drilling.

At Jinka's deposit itself drilling to the west of the previously reported footwall monzonite (BRC07) has discovered another zone of gold anomalism, which indicates that the Blackburn Gold Project has greater width as well as length than previously thought.

In strong similarities to the main mineralisation at Jinkas, the latest drilling results also demonstrate variability in repeat assaying of splits from the same sample of as much as an order of magnitude. At Jinkas this poor reproducibility is the result of a coarse gold component and it is anticipated that the same coarse gold consideration may be the cause of the variability on results within the latest drilling. Repeat sampling with a larger sample size may better reflect the grades within the drill holes. Further bulk re-sampling over the zones of anomalous gold and suphide mineralisation identified within the drill holes is currently underway.



Drill hole intercepts greater than 1.0g/t

------------------------------------------------------------------------
FROM TO INTERVAL Au Au repeat1 Au repeat2
DHID meters meters metres ppm ppm ppm
------------------------------------------------------------------------
BRC21 63 64 1 2.26 1.66 1.62
------------------------------------------------------------------------
BRC21 71 72 1 1.44 0.85 1.47
------------------------------------------------------------------------
BRC21 72 73 1 2.01 1.75
------------------------------------------------------------------------
BRC21 73 74 1 1.17 0.87 1.02
------------------------------------------------------------------------
BRC11 115 116 1 1.63 1.09 0.8
------------------------------------------------------------------------
BRC11 116 117 1 9.05 20.08 15.72
------------------------------------------------------------------------
BRC11 117 118 1 0.84 0.47 0.71
------------------------------------------------------------------------
BRC11 118 119 1 0.82 0.76
------------------------------------------------------------------------
BRC11 119 120 1 9.66 2.7 2.29
------------------------------------------------------------------------
BRC11 120 123 3 3.74 0.98 1.37
------------------------------------------------------------------------
BRC08 85 86 1 2.83
------------------------------------------------------------------------
BRC07 44 45 1 1.83
------------------------------------------------------------------------
BRC03 68 72 4 1.46 0.53 1.09
------------------------------------------------------------------------
BRC03 72 76 4 0.81 0.79
------------------------------------------------------------------------
BRC03 89 90 1 1.23 0.84 1.45
------------------------------------------------------------------------
BRC02 52 53 1 3.01 0.81 0.87
------------------------------------------------------------------------
BRC02 53 54 1 2.57 6.89 1.47
------------------------------------------------------------------------
BRC02 58 59 1 1 0.3
------------------------------------------------------------------------


---------------------------------------------------------------------------
NORTH EAST
HOLE MGA94 MGA94 AZIMUTH DEPTH
ID (meters) (meters) DIP magnetic (meters) COMMENTS
---------------------------------------------------------------------------
BRC01 6288113 584218 -90 0 93 Weak mineralised zone @
73-74m?
---------------------------------------------------------------------------
BRC02 6288018 584245 -90 0 90 Disseminated sulphides from
42-80m; mineralised
zones? @ 42-44m, 60-62m?
---------------------------------------------------------------------------
BRC03 6287932 584304 -90 0 99 Trace disseminated. Pyrite
from 23-53m; mineralised zone
replaced by mafic dyke?
---------------------------------------------------------------------------
BRC04 6287855 584331 -70 245 81 1-2m ore zone @ 61-62m
---------------------------------------------------------------------------
BRC05 6287739 584405 -60 245 93 Negligible zone (trace
sulphides) @ 78-83m?
---------------------------------------------------------------------------
BRC06 6287826 584454 -90 0 102 Adamellite throughout; minor
disseminated
sulphides @ 72-75m, 92-95m
---------------------------------------------------------------------------
BRC07 6287847 584107 -90 0 78 Mineralised zone @ 46m (1-2m
wide?); disseminated pyrite
40-45m, 66m and 74m
---------------------------------------------------------------------------
BRC08 6287798 584397 -60 245 99 Sulphide-rich ore zone @
89-91m
---------------------------------------------------------------------------
BRC09 6287612 584626 -60 90 117 Thin mineralised zone @
46-49m; patchy sulphide
blebs (pyrite pyrrhotite
at 47-48m.)
---------------------------------------------------------------------------
BRC10 6287623 584701 -60 270 114 Thin mineralised zone @
73-75m; Wide ore
(pyrite pyrrhotite
chalcopyrite)/
calc-silicate
zone from 96-104m
---------------------------------------------------------------------------
BRC11 6287709 584700 -60 270 123 93-114 equals wide ore-gangue
intersection 93-114m;
sulphides patchy over most of
hole
---------------------------------------------------------------------------
BRC12 6287693 584647 -60 270 99 Weak ore zones @ 36-39m,
81-84m; less qtz
veining than BRC10 and 11.
---------------------------------------------------------------------------
BRC13 6285235 586731 -60 270 105 Meta-sandstone with
occasional mafic bands; trace
sulphide
---------------------------------------------------------------------------
BRC14 6285220 586625 -60 90 105 Felsics, calc-silicates?
---------------------------------------------------------------------------
BRC15 6285096 586735 -60 270 114 Mostly barren felsic/mafic
rocks; trace disseminated
sulphides between 50-80m
---------------------------------------------------------------------------
BRC16 6285073 586645 -90 0 90 Barren felsic and mafic rocks
---------------------------------------------------------------------------
BRC17 6294316 582943 -60 250 69 ?Weak mineralised zone @
45-48m; moderate zone @
57-63m
---------------------------------------------------------------------------
BRC18 6294224 583020 -60 250 78 Continuous sulphides
(disseminated, blebby) from
39-73m. Discrete mineralised
zones @ 49-52m, 65-68m
---------------------------------------------------------------------------
BRC19 6294260 582962 -90 0 60 Sulphide @ 27-31m; deep
oxidation profile to EOH
---------------------------------------------------------------------------
BRC20 6293619 581289 -60 220 81 Abundant sulphides @ 29m,
51m, 66-69m;
disseminated/blebby sulphides
from 28m
---------------------------------------------------------------------------
BRC21 6287560 584699 -60 270 87 Thin mineralised zones @ 63m,
74-75m
---------------------------------------------------------------------------


Drilling was completed using a reverse circulation drilling rig with 4.75" face sampling hammer. Sampling of the drill chips was collected as speared samples in four-meter composites outside the zone of interest and single-meter intervals within the zone of interest with a sample of approx 1 kilogram weight sent to the laboratory for analysis. Assaying, including repeat assaying of the pulverized and split laboratory sample was completed by Genalysis Laboratories Services Pty Ltd, a member of the Interdek Group, a NATA accredited laboratory.

Assaying was to 0.01ppm detection limit using a single stage mix and grind and subsequent Flame Atomic Absorption Spectrometry after extraction of analyte into organic solvent.

Further riffle splitting and re-sampling of the drill cuttings, including duplicate samples is currently underway. The results tabled in this release are therefore considered as preliminary only until the results of the repeat sampling programme have been completed. As a consequence of this, the final results may vary with respect to the preliminary results reported.

There is no implication that the widths shown reflect true widths of any mineralised zone as no interpretation of thickness has been made based upon this drilling programme. Widths shown in the accompanying figures are schematic only based upon both historical and recent drilling and geology logged from previous and recent drilling.

Information in this announcement was compiled by Mr. Dave Holden, a director of IGC, who is a Member of the AusIMM and a "Qualified Person" under Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About IGC Resources Inc.: IGC Resources Inc.'s principal business activities are the exploration, development and mining of gold and copper prospects within Australia, while continuing to investigate other mineral resource prospects for potential acquisition globally. IGC also holds an IOCG exploration project in the southern Fraser Range proterozoic mobile belt.

For more information, please visit our website at www.igcresources.com, email us at info@igcresources.com or call us at +1 604-664-7424.

Statements in this release may constitute forward-looking statements which involve known and unknown inherent risks and uncertainties that are detailed in IGC's periodic filings with Canadian securities regulators. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Actual events or results could differ materially from IGC's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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