International Wayside Gold Mines Ltd.

International Wayside Gold Mines Ltd.

March 26, 2008 10:31 ET

International Wayside Gold Mines Ltd.: Pre-feasibility Study Undertaken

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 26, 2008) - Further to News Release 08-04 of March 11, 2008, the Board of Directors of International Wayside Gold Mines Ltd. ("the Company") (TSX VENTURE:WGM)(FRANKFURT:IWUA) is pleased to report that the Company has now formally engaged EBA Engineering Consultants Ltd. ("EBA") of Vancouver, B.C., to undertake a pre-feasibility study to support re-classification of the mineable resource at Bonanza Ledge to mineral reserves, as defined in National Instrument 43-101.

The pre-feasibility study is dependent on upgrading the Company's exploration database, which is nearing completion, as well as more detailed computer modeling of the deposit, which is anticipated to be completed within two weeks. Upon receipt of the geologic model, EBA will provide a tentative schedule for the pre-feasibility study, and currently anticipates, assuming that the model adequately meets EBA's requirements, that completion in approximately 2 months from receipt of the model is aggressive but achievable. Updates on the Company's progress will be provided on a regular basis as the work progresses.

International Wayside Gold Mines Ltd. mineral tenures in the Historic Cariboo Goldfields encompass more than 65,000 hectares. 101 creeks have reported placer gold production over an approximately 60 km long belt. 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 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
    (604) 669-6463 or Toll Free: 1-800-663-9688
    (604) 669-3041 (FAX)