International Wayside Gold Mines Ltd.
TSX VENTURE : WYG
FRANKFURT : IWUB

International Wayside Gold Mines Ltd.

June 24, 2009 10:05 ET

International Wayside Gold Mines Ltd.: NI 43-101 Report Filed on Recently Acquired Cariboo Land Package

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2009) - International Wayside Gold Mines Ltd. (TSX VENTURE:WYG)(FRANKFURT:IWUB) ("Wayside") is pleased to announce it has filed a National Instrument NI 43-101 Technical Report ("the Report") prepared by Jarrod Brown, M. Sc., P. Geo. and Jim Yin, Ph.D., P.Geo., on Wayside's 276.7 sq. km land package recently acquired from Golden Cariboo Resources, at the Cariboo Gold Project near Wells, British Columbia. The full report is available for download on the company's website at www.wayside-gold.com.

The 2000-2008 exploration programs discussed in the Report confirmed the wide spread presence of quartz vein and pyrite replacement styles of gold mineralization on the land package. The numerous anomalies and occasional high grade values encountered in the exploration programs verify the conviction that the land package has potential to host well-mineralized gold ore bodies, possibly of economic grade.

The Report recommends a 2009 exploration program on G Property consisting of 1,829 meters (6,000 feet) of diamond drilling with a proposed budget of $420,250.00. A two phase exploration program in 2009 is recommended for the Warspite Property on Mt. Proserpine. Phase I consists of a SP survey within the previously selected prospect area in 2006. Phase II consists of trenching and 1,524 meters (5,000 feet) of diamond drilling to test the SP anomalies of Phase I. The total budget for the 2009 exploration programs on the Warspite Property is $373,500.00. The grand total proposed budget for the 2009 exploration programs on both G and Warspite Properties on the land package is $793,750.00.

The Company initiated operations in the Cariboo District in 1994 and since that time has focused on the exploration and development of its gold properties. Mineral tenures in the Historic Cariboo Goldfields encompass approximately 1,065 square km (106,484 hectares) over a 60 km long by 20 km wide belt. In the Barkerville Gold Camp, 101 creeks have reported placer gold production. Recorded gold production from the area totals more than 3.8 million ounces, including an estimated 2.64 million ounces from placer mining and 1.23 million ounces from lode mining.

Wayside is in the process of acquiring the QR Mine and 900 tonne per day QR Mill, which was fully operational until February 2009 (now on care and maintenance). The QR Mill is a CIP mill designed for an output of 70,000 ounces of gold per annum for that location. The mill is 110 km by road from Wayside's Cariboo Gold Project and proposed Bonanza Ledge Mine.

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 and 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.

Contact Information

  • International Wayside Gold Mines Ltd.
    Andrew Rees
    604-669-6463 or Toll Free: 1-800-663-9688
    604-669-3041 (FAX)
    www.wayside-gold.com