International Gold Mining Limited
TSX VENTURE : IGL

International Gold Mining Limited

July 15, 2008 08:30 ET

International Gold Mining Limited: Second High Grade Surface Uranium Mineralised Anomaly Identified in the Bahi/Manyoni Uranium Province

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 15, 2008) -

Mr. Alan Phillips reports:

INTERNATIONAL GOLD MINING LIMITED (TSX VENTURE:IGL) (the "Company") is pleased to advise the market that since the announcement dated June 12, 2008 the company has encountered further exploration success at its uranium project located in the Bahi / Manyoni uranium province in the East African Republic of Tanzania.

As previously reported, the company has employed, as a consultant, a Tanzanian national, who is a geophysics expert with over 25 years experience in local geophysics. This consultant has been systematically scanning the tenements using the RS-125 Super Spec Spectrometer to gather follow up information associated with the reprocessed radiometric data that the company had previously acquired.

Further to the initial exploration success announced in June the company has now discovered a second surface uranium mineralized anomaly 3 kilometres South / South East of the initial discovery.

Surface readings at this new uranium mineralized anomaly have to date yielded some significant results with readings ranging up to 0.81 kg/t, eU3O8.

The foot print of this new surface anomaly has now been expanded out to cover an area of approximately 1000 metres in length and some 400 metres in width, this anomaly remains open at both ends.

The company believes that both this new surface anomaly, and the previously announced uranium mineralized anomaly (approximately 1600 meters in length and 300 meters in width, which is open at both ends, and which has uranium values ranging up to 2.4kg/t, eU3O8), both lend themselves to rapid delineation by detailed drilling and sampling.

The discovery of these two surface uranium mineralized anomalies so close together, with negligible stripping ratio, within 20 kilometres of infrastructure, such as a government owned railway line and grid power, and with potentially economic uranium values at the surface, has created an excellent exploration opportunity for the company at a fairly early stage of its Tanzanian exploration program.



Summary of results using 250ppm eU3O8 cut off

-----------------------------------------------
Easting Northing eU3O8 kg/t eU3O8 ppm
-----------------------------------------------
685505 9379156 0.81 811
-----------------------------------------------
685825 9379256 0.32 318
-----------------------------------------------
685428 9379072 0.49 488
-----------------------------------------------
685395 9379090 0.35 348
-----------------------------------------------
685417 9379098 0.29 285
-----------------------------------------------
685482 9379096 0.30 297
-----------------------------------------------
685472 9379108 0.26 259
-----------------------------------------------
685505 9379152 0.38 382
-----------------------------------------------
685833 9379236 0.28 280
-----------------------------------------------
685505 9379202 0.25 252
-----------------------------------------------
694039 9380256 0.29 292
-----------------------------------------------
685305 9376114 0.26 263
-----------------------------------------------
685261 9376108 0.32 317
-----------------------------------------------
685298 9376118 0.27 272
-----------------------------------------------
684934 9380724 0.27 274
-----------------------------------------------
685205 9380778 0.26 256
-----------------------------------------------
685240 9380794 0.41 408
-----------------------------------------------
685129 9380220 0.26 263
-----------------------------------------------
685475 9379238 0.30 301
-----------------------------------------------
685848 9379252 0.39 386
-----------------------------------------------
685882 9379208 0.42 415
-----------------------------------------------
684681 9380622 0.42 421
-----------------------------------------------
684588 9380494 0.42 420
-----------------------------------------------
684925 9380676 0.28 277
-----------------------------------------------
684566 9380548 0.26 256
-----------------------------------------------
684388 9380564 0.26 258
-----------------------------------------------

eU3O8 uranium equivalent as converted from spectrometer readings.


This new anomaly is located 3 kilometres South / South East of the initial discovery and approximately 17 kilometers West / North West of the Uranex owned Manyoni C1 uranium deposit, with this discovery the company has still not ruled out the possibility of the two anomalies being joined, as the current trend of both anomalies appears to be headed towards each other, and exploration work is continuing in this area.

Note

The RS-125 Spectrometer, S/N2323, was originally calibrated in Canada over Radiation Solutions radiometric pads. Fugro Instruments also checked the calibration of this instrument using its own calibration pads in Sydney Australia.

Caution: all results are subject to verification by chemical analysis.

Background to Bahi / Manyoni Project.

The Bahi Swamp catchment area is a dry lake covering over 1000 square kilometres and incorporates an extensive drainage system that has developed over 27,000 square kilometres of uranium rich "hot" Achaean granites.

The area has been recognized as an important uranium province since the 1950s when the geological survey of Tanzania reported an intersection of 0.15m @2.3kg/t U3O8 near the centre of Lake Bahi. (This result is located on an IGL tenement that is yet to be followed up on.)

This view has since been reinforced by the discovery of the Manyoni C1 uranium deposit located approximately 30 kilometres North West of the Lake Bahi intersection, and the discovery of surface mineralization now by International Gold Mines Limited.

IGL has four tenements in this area totaling 2365 square kilometres, two of which abut the Western boundary and one which abuts the Southern boundary of the tenement that contains the Manyoni C1 deposit.

Mr. Nick Revell, BSc, is a member of AusIMM and oversees International Gold Mining's project initiatives. Mr. Revell is a Qualified Person as defined in National Instrument 43-101 and he is a Director of International Gold Mining Limited.

On behalf of the Board of Directors

INTERNATIONAL GOLD MINING LIMITED

Alan Phillips, President/CEO

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Capital Street Group
    Investor and Media Inquiries
    Toll Free IR Line: 1-888-684-1183
    (778) 785-0979 or Direct: (604) 988-8186
    Website: www.ingoldmin.com