SOURCE: Ironwood Gold Corp.

Ironwood Gold Corp.

September 22, 2010 09:00 ET

Ironwood Gold Announces Investment by Callinan Mines

SCOTTSDALE, AZ--(Marketwire - September 22, 2010) - Ironwood Gold Corp. (OTCBB: IROG) (the "Company") is pleased to announce that Canadian mining company Callinan Mines Limited ("Callinan") has entered into a Securities Purchase Agreement dated August 27, 2010. The agreement has been represented as a preliminary investment in exchange for certain shares and warrants exercisable over the next two years.

Callinan Mines is a base metals exploration company dedicated to continuing a tradition of successful exploration that began in 1927. The company derives significant, and increasing, revenue from an historic royalty interest in two producing mines in Manitoba, Canada. This income allows the company to keep dilution low as they develop additional high potential exploration properties located in Manitoba and British Columbia.

In addition to their Canadian exploration programs, Callinan is focused on expanding shareholder value through accretive acquisitions of both base and precious metals properties. The global economy has priced many in-ground assets far below their actual value, given the current metals environment. By virtue of the company's cash reserves and income, Callinan is able to compete for the most valuable available assets in both the base and precious metals sector.

The properties that Callinan selects for exploration have been chosen because they have the potential to host large, world class deposits.

Additional details regarding Ironwood Gold and its agreements are filed as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information visit:

Ironwood Gold Corp. is a mineral exploration and development company building a portfolio of prospective properties containing known deposits of strategic precious metals in politically stable, mining-friendly North American districts with recognized production histories.

Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.


Ironwood Gold Corp.
Behzad Shayanfar, CEO

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