International Gold Mining Limited
TSX VENTURE : IGL

International Gold Mining Limited

September 14, 2009 23:47 ET

International Gold Mining Limited Arranges Placement, Plans Rollback, Name Change

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 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") announces it is arranging several items of business.

Private placement

The Company wishes to announce that it has arranged a non-brokered private placement of up to 95,955,788 common shares at the price of one cent per share, for gross proceeds of $959,557.88 to accredited and sophisticated investors in Canada, the European Union and Australia.

The private placement is subject to an overallotment option of 9,595,578 shares for additional proceeds of $95,955.78, should the entire overallotment option be exercised. If the entire overallotment option is exercised the private placement will be for 105,551,366 shares and gross proceeds of $1,055,513.66.

The net proceeds of the placement shall be used to finance exploration and development activities on the company's gold and uranium properties. The Canadian securities issued will be subject to a four-month hold period from the date of closing.

Finders' fees may be payable to eligible persons with respect to the offering and will be subject to regulatory approval. Completion of the placement is subject to the acceptance for filing of the TSX-V and regulatory approvals. The non-brokered private placement is expect to close on or before October 9, 2009

Annual and special meeting of shareholders

The Company also announces it will be proposing a number of special matters for consideration and approval at its upcoming annual and special meeting of shareholders to be held at the end of November, 2009, as follows:

Common share consolidation and name change

The Company is proposing a consolidation of its issued and outstanding common shares on the basis of one new common share for every 10 common shares issued and outstanding. Currently there are 95,955,788 common shares of the corporation issued and outstanding. Upon completion of the above private placement there will be up to 191,911,576 common shares of the corporation issued and outstanding (201,501,154 common shares if the entire overallotment option is exercised). On a post-consolidated basis, the corporation anticipates that there will be a total of 19,191,157 new common shares of the corporation issued and outstanding (20,150,115 new common shares if the entire overallotment option is exercised).

No fractional new common shares will be issued as a result of the share consolidation. If, as a result of the share consolidation, the holder of new common shares would otherwise be entitled to a fraction of a share, the number of new common shares issuable to such shareholder shall be rounded up in the event the said shareholder was entitled to a fractional share equivalent to one-half or more of a new common share and shall be rounded down in the event the said shareholder was entitled to a fractional share equivalent to less than one-half of a new common share.

In connection with the share consolidation, the corporation is proposing a name change and a new stock trading symbol.

International Gold Mining Limited is a junior exploration company with operations in Australia and Tanzania and trades on the TSX Venture Exchange (Canada) trading symbol IGL-V.

On behalf of the Board of Directors

INTERNATIONAL GOLD MINING LIMITED

Alan Phillips, President/CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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