International Wayside Gold Mines Ltd.
TSX VENTURE : WGM
FRANKFURT : IWUA

International Wayside Gold Mines Ltd.

January 19, 2007 11:47 ET

International Wayside Gold Mines Ltd.: Drill Results From the Mucho Oro Gold Discovery

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 19, 2007) - International Wayside Gold Mines Ltd. (TSX VENTURE:WGM) (FWB:IWUA) ("the Company") is pleased to announce significant results of the 2006 exploration program on Mucho Oro Zone, including results just received. The results confirm extensive mineralization in the Mucho Oro Zone, which lies southeast of and adjacent to the proposed Bonanza Ledge open pit mine that is currently being permitted.

A 17 drill hole program was undertaken from March 3rd - June 27th, totaling 3,048.3 m (10,001.0 feet) of drilling. For reference, gold assay results greater than 1 g/t that were previously reported from the first 14 holes of this program (see News Release 06-19) are:



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HOLE NO. INTERCEPT (Feet) From - To (Feet) GRADE (g/t)
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BC06-02 3.7 66.0 - 69.7 10.30
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BC06-03 1.5 245.0 - 246.5 3.44
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BC06-05 1.0 189.0 - 190.0 1.89
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BC06-07 16.8 160.3 - 177.1 23.15
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4.7 185.7 - 190.4 1.52
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BC06-08 4.5 171.5 - 176.0 5.68
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BC06-09 10.0 175.0 - 185.0 10.60
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BC06-11 9.5 204.8 - 214.3 32.10
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11.3 303.7 - 315.0 1.30
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BC06-14 5.1 363.8 - 368.9 1.73
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4.7 384.3 - 389.0 5.75
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New gold assay results greater than 1 g/t from holes 15 - 17 of this
program are:

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HOLE NO. INTERCEPT (Feet) From - To (Feet) GRADE (g/t)
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BC06-16 2.9 52.3 - 54.2 30.40
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3.0 384.7 - 387.7 1.27
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2.7 390.0 - 392.7 1.34
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2.5 495.0 - 497.5 1.18
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BC06-17 7.4 306.0 - 313.4 1.16
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10.0 356.0 - 366.0 1.47
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A further 14 drill hole program was completed from Sept. 18th to Dec. 21st
totaling 1,633.8 m (5,360.0 feet) of drilling. Gold assays greater than
1 g/t from these 14 holes are:

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HOLE NO. INTERCEPT (Feet) From - To (Feet) GRADE (g/t)
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BC06-18 116.5 155.0 - 271.5 1.02
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BC06-21 3.3 290.1 - 293.4 1.31
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BC06-23 9.5 56.0 - 65.5 1.47
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BC06-24 140.8 332.7 - 473.5 2.42
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Including
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4.6 346.0 - 350.6 14.40
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4.0 350.6 - 354.6 35.20
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0.7 363.4 - 364.1 17.30
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2.5 415.5 - 418.0 11.90
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2.0 444.0 - 446.0 16.40
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BC06-25 3.4 72.6 - 76.0 2.22
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5.9 90.1 - 96.0 1.04
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BC06-27 5.0 61.0 - 66.0 1.83
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BC06-30 7.0 56.0 - 63.0 1.17
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10.9 160.1 - 171.0 1.31
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2.2 186.0 - 188.2 52.40
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BC06-31 3.3 66.0 - 69.3 1.36
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Of the 31 drill holes completed at Mucho Oro to date, 26 returned anomalous gold results and 18 of these returned significant gold assays (greater than 1 g/t). In general, the drill results are comparable to those obtained at the adjacent Bonanza Ledge Zone (about 700 feet mine grid west), and are characterized by variable grades with a complex, three dimensional distribution. The Bonanza Ledge and Mucho Oro Zones are structurally similar but distinct zones separated by the Waoming Fault.

The exploration results indicate that gold mineralization is parallel or sub-parallel to the BC Fault structure and occurs mainly in the footwall of the fault. The gold mineralization is confined to the contacts between the Rainbow 4 Sub-unit - BC Unit (mine grid north boundary) and Lowhee 1 - Lowhee 2 Sub-units (mine grid south boundary). The bodies dip to the mine grid north at about 30 degrees - 60 degrees. The mineralized bodies pinch and swell along the strike length parallel or sub-parallel to the BC Fault structure. As a result, the thicknesses of the bodies vary. The strike length of the mineralized zone has not yet been determined, as it remains open to the (mine grid) east. The Company intends to undertake additional drilling on the east side of the Mucho Oro Zone in 2007. Further information on the geology of the Mucho Oro Zone is available on the Company's web site at www.wayside-gold.com.

The data is being synthesized and a three dimensional model of the deposit is being developed for internal use. The Company intends to develop a resource calculation for the Mucho Oro Zone in due course, and to evaluate potential mining methods as appropriate.

The Company is also planning an aggressive exploration program for 2007 on a number of other targets. These will include drill holes on the Goldfinch Zone (mine grid west of and adjacent to the Bonanza Ledge Zone, and separated from it by the Goldfinch Fault), and an extensive surface and underground drill program on Cow Mountain. More information on the 2007 programs will be released once the programs have been finalized.

The Cariboo Gold Project's land holdings cover more than 792 square kilometres (roughly 305 square miles), including 574.8 square kilometres that are controlled by International Wayside Gold Mines Ltd. and 217.4 square km that are controlled by Golden Cariboo Resources Ltd. In the Barkerville Camp, 79 creeks have reported placer gold production. Recorded production from the area is 3.8 million ounces of gold, including 2.6 million ounces from placer and 1.2 million from lode mining.

The technical information in this News Release has been reviewed and approved by chief geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.

On Behalf of the Board of Directors

J. Frank Callaghan, President

This news release contains forward-looking statements regarding the timing and content of upcoming programs. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • International Wayside Gold Mines Ltd.
    J. Frank Callaghan
    President
    (604) 669-6463 or Toll Free: 1-800-663-9688
    Website: www.wayside-gold.com