IGC Resources Inc.

IGC Resources Inc.

March 04, 2005 17:00 ET

IGC Applies for Uranium Tenements in the West Pilbara Region of Western Australia


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: IGC RESOURCES INC.

TSX VENTURE SYMBOL: IGC

MARCH 4, 2005 - 17:00 ET

IGC Applies for Uranium Tenements in the West Pilbara
Region of Western Australia

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 4, 2005) - IGC
Rescources Inc. (TSX VENTURE:IGC), www.igcresources.com. The Directors
of IGC Resources Inc. ("IGC") are pleased to announce that IGC has
successfully lodged two full-size exploration licence applications for
tenements in the West Pilbara region of Western Australia covering
approximately 400 square kilometres. The tenements overlie a large area
of Proterozoic sandstones and Late Cretaceous sediments which are known
in the region to host Uranium ("U"). To the north of the tenements is
the Manyingee Uranium deposit hosting 7,860 tonnes at 0.12% Uranium
Oxide (U3O8) as defined by Paladin Resources plc circa 1985. The
mineralisation is thought to exist as typical roll front systems and has
been considered by the previous owners to be amenable to in situ
leaching.

Following successful grant of the tenements, IGC will embark upon an
aggressive exploration program which will include airborne geophysical
surveys to locate and define the potential uranium-enriched systems and
delineate the paleo drainage patterns.

The tenements are also thought to cover late stage granites, a possible
source of the Uranium enrichment and an equally exciting potential host
for iron-oxide copper, gold and rare earth elements ("REE")
mineralisation. Exploration activities, while predominantly targeting
the Uranium, will ensure that investigations into gold, copper and
relevant pathfinders is completed as well.

IGC will continue to develop its gold project at its Blackburn Gold
Project and, provided that the tenements applied for are granted,
anticipates starting first phase exploration on the Fraser Range
copper-gold, REE U tenements before mid-year.

On Behalf of the Board of Directors of

IGC RESOURCES INC.

Clive R. Hartz, President and CEO

12.5 million shares outstanding

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    IGC Resources Inc.
    Linda Holmes
    Director and Secretary
    (250) 404-0310
    (250) 404-0311 (FAX)
    igcresources@shaw.ca
    www.igcresources.com
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.