International Gold Mining Limited
TSX VENTURE : IGL

International Gold Mining Limited

December 01, 2009 12:59 ET

International Gold Mining Limited: Annual General Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2009) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

INTERNATIONAL GOLD MINING LIMITED (TSX VENTURE:IGL) (the "Company") is pleased to announce that its Annual General Meeting was held on November 30, 2009. At the meeting, shareholders received the audited consolidated Financial Statements and Management Discussion & Analysis of the Company for the fiscal year ended June 30, 2009 including the auditors' report and resolved to:

1. Re-elect Mr Bruce Burrell as a director of the Company;

2. Elect Mr David Taylor as a director of the Company;

3. Approve the appointment of Canadian Auditors, Davidson & Company;

4. Approve the consolidation of share capital of the Company on a 10 for 1 basis;

5. Approve the ratification of the option plan;

6. Approve cancellation and re-issue of Stock Options;

7. Approve sale of the British King and Eureka Gold mines; and

8. Approve change of the Company's name to 'Central Iron Ore Limited'.

All resolutions were passed on a show of hands including the resolution to change the name of the Company, which was passed as a special resolution. Full details of the resolutions passed are contained in the Notice of Meeting and the Management Information Circular. Details of proxies received are contained in Schedule 1.

The resolution for re-election of Mr Alan Phillips as a director was not considered as Mr Phillips resigned on November 10, 2009. Mr Andrew Spinks was appointed Chairman, President and Managing Director on that date. Immediately following the Annual General Meeting, Mr Spinks' appointment as Chairman, President and Managing Director was reconfirmed via resolution of the Board.

As previously announced on October 28, 2009, the Company has closed its non brokered private placement for 105,551,366 common shares at a price of CAD $0.01 per common share for gross proceeds of CAD $1,055,513.66 resulting in an expanded pre-consolidation issued capital of 201,507,154 shares. Subject to Exchange approval of the 10 for 1 consolidation, the Company will have an issued capital post consolidation of 20,150,715 shares.

The Company will pay CAD $45,526 in finders' fees and has issued 9,105,136 finders' warrants (pre-consolidation) in connection with the private placement. The finders' warrants have a term of 2 years from closing, exercisable at CAD $0.05 in year 1 and at CAD $0.10 in year 2.

All securities issued pursuant to the private placement, including the finders' warrants have a 4 month hold period expiring on 1 March 2010.

International Gold Mining Limited is a junior exploration Company with operations in Australia and Tanzania and trades on the TSX Venture Exchange (Canada) with the trading Symbol "IGL".

Following the Annual General Meeting, the Company is in the process of changing its name, subject to Exchange approval.

On behalf of the Board of Directors

INTERNATIONAL GOLD MINING LIMITED

Andrew Spinks, President/CEO



SCHEDULE 1

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FOR AGAINST ABSTAIN
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RESOLUTION 2:
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2.1 Re-election of Alan Spence 8,994,168 100,000 8,120,750
Phillips as a director
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2.2 Re-election of Bruce Burrell 17,084,288 100,000 30,630
as a director
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2.3 Election of David Taylor 17,084,288 100,000 30,630
as a director
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RESOLUTION 3:
Appointment of Canadian Auditors, 17,110,918 100,000 4,000
Davidson & Company
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RESOLUTION 4:
Consolidation of share capital 17,114,918 100,000 0
of the Company
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RESOLUTION 5:
Ratification of Option Plan 17,084,288 126,630 4,000
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RESOLUTION 6:
Cancellation and re-issue 17,084,288 126,630 4,000
of Stock Options
----------------------------------------------------------------------------
RESOLUTION 7:
Sale of assets 17,114,918 100,000 0
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RESOLUTION 8:
Change of Company name 17,114,918 100,000 0
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AT PROXY'S DISCRETION - 979,774
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