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

International Wayside Gold Mines Ltd.

November 16, 2009 10:54 ET

International Wayside Gold Mines Ltd.: Three New Zones of Pyrite Gold Mineralization Discovered at Bonanza Ledge-New Drill Program Begins

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2009) - International Wayside Gold Mines Ltd. ("Wayside", the "Company") (TSX VENTURE:WYG)(FRANKFURT:IWUB) announced today that it has identified three new zones of replacement style gold mineralization at its Bonanza Ledge gold project and that a new drill program has been initiated. A full drill program is currently being planned to incorporate recent results to delineate the new zones.

Diamond drill hole BC09-14B, part of the 18 hole in-fill program at Bonanza Ledge, hit 20.0 feet of 1.28 g/t replacement style gold mineralization between 471.0 feet and 491.0 feet below surface and underneath the proposed open pit at Bonanza Ledge (summary in table below).

Hole MW09-01 hit two zones of Bonanza Ledge style pyrite replacement mineralization approximately 290 meters southwest from the center of the proposed gold mine in a rock sequence referred to as the Lowhee Unit. The two replacement zones included 1.3 meters (4.4 feet) of 1.86 g/T (0.054 oz/t) gold between 17.6 and 22 feet below surface, and 0.5 meters (1.5 feet) of 2.58 g/T (0.075 oz/t) gold between 90.8 and 92.3 feet below surface (summary in table below). MW09-01 was one of eight water monitoring holes drilled in preparation to open pit mine the Bonanza Ledge gold deposit.

Company President and CEO J. Frank Callaghan stated, "Management and our exploration team are very encouraged with the recent drill results. Hole BC09-12 was our best drill hole to date having an intercept 100 feet longer than any other previous drill hole and the best grades to date. Furthermore, the Company has discovered Bonanza Ledge style mineralization at depth and below the proposed Bonanza Ledge open pit mine, as reported in both BC09-14B and BC09-16. Both of these holes intersected gold mineralization 200 – 300 feet below the original resource depth of approximately 250 feet, opening the exploration potential at depth substantially. On October 7 the Company announced the discovery of Bonanza Ledge style mineralization 2200 meters northwest of the Bonanza Ledge Zone on Cow Mountain and the Company has now discovered the same type of mineralization 290 meters southwest of the proposed Bonanza Ledge open pit mine. An extensive exploration program is currently in planning for the purpose of further extending and defining these new zones."

The recently completed infill diamond drill program in the Bonanza Ledge Zone will upgrade its existing NI43-101 resource from an inferred to indicated category. Company consultants Mintec Inc. is currently upgrading the resource based on these results.



SUMMARY OF WEIGHTED SIGNIFICANT ASSAYS OF 2009 DRILL HOLES
       
#Drill HoleFrom To Width Gold
FeetFeetg/Toz/t
1BC09-14B70.0306.0236.010.50.307
including
91.696.04.41.380.040
96.099.13.12.510.073
99.1102.02.929.20.852
102.0106.04.01.070.031
106.0116.010.01.710.050
116.0117.71.710.10.295
117.7120.52.81153.354
120.5126.05.589.72.616
126.0130.34.37.450.217
134.9141.16.26.250.182
146.0152.06.06.350.185
152.0156.04.0220.642
156.0158.02.012.20.356
158.0162.14.12.140.062
162.1166.03.915.40.449
166.0168.52.535.51.035
168.5171.02.52.180.064
171.0176.05.025.10.732
176.0179.43.483.52.435
179.4182.32.917.50.510
182.3186.03.710.40.303
186.0188.82.82.520.073
188.8192.23.49.450.276
192.2196.03.838.501.123
196.0198.32.315.90.464
198.3206.68.37.250.211
206.6213.36.714.60.424
213.3216.02.72.850.083
216.0219.33.34.800.140
219.3221.21.969.52.027
221.2226.04.811.10.324
226.0231.05.02.410.070
231.0236.05.01.070.031
241.8246.04.22.150.063
261.1265.44.31.750.051
273.5276.02.51.320.038
471.0491.020.01.280.037
including
476.0481.55.52.160.063
486.0491.05.01.180.034
2MW0117.622.04.41.860.054
90.892.31.52.580.075
103.0107.44.40.780.023
3MW06No significant assay
4MW0734.551.416.91.270.037
including
44.748.33.64.750.139
114.8144.529.71.760.051
including
114.8117.22.43.480.101
117.2120.73.56.210.181
136.0144.58.52.210.064
166.0170.84.80.310.009
175.2186.010.81.210.035
including
175.2177.01.84.550.133
204.0216.012.00.190.006

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"
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
    604 669-3041 (FAX)
    www.wayside-gold.com