SOURCE: Vangold Resources Ltd.

February 11, 2009 09:00 ET

Vangold Resources Ltd. Receives Update From International Beryllium Corporation

VANCOUVER, BC--(Marketwire - February 11, 2009) - Vangold Resources Ltd. (TSX-V: VAN) (PINKSHEETS: VNGRF) ("Vangold") reports that International Beryllium Corp. ("IB") issued the following press release and that this information is material and relevant to Vangold in view of its large equity in that company (Vangold currently owns 25.6 million shares of International Beryllium Corporation).

International Beryllium Signs Letter Of Intent to Acquire Master and Specialty Alloy Manufacturer and Processor

VANCOUVER, BC -- February 10, 2009 -- International Beryllium Corporation (TSX-V: IB) ("IBC") is pleased to announce that it has signed a letter of intent ("LOI") dated February 4, 2009 to acquire, through its subsidiary IBC US Holdings, Inc., all of the shares of a master and specialty alloy manufacturer and processing company (the "Target"). The proposed transaction is a non-arm's length transaction as Denis Brady, a shareholder of the Target, is also a director of IBC. The transaction is contemplated to be non-dilutive to existing shareholders and there will be no finder's fee payable. Completion of the proposed transaction is subject to several conditions including customary due diligence and approval by the boards of directors of IBC and the Target; the shareholders of the Target; and the TSX Venture Exchange. There can be no assurance that the transaction will be completed as proposed or at all.

The Target is based in the United States where it manufactures and processes a range of master and casting alloy products, including beryllium copper. Its manufacturing infrastructure and processes are complementary to IBC's recent acquisitions of Nonferrous Products, Inc. and Freedom Alloys, Inc., and will further integrate IBC's manufacturing value chain. The Target has a lengthy history of producing a range of master alloys, which can be made to meet a variety of commercial specifications, for both North American and international customers.

"We are very pleased to have signed a letter of intent to acquire this company," stated Anthony Dutton, President and CEO of IBC. "Its manufacturing capabilities will further enhance IBC's development as a vertically integrated global beryllium company. It will allow us to improve our manufacturing efficiencies and production levels in order to increase our market presence both in North America and internationally. We are focused on increasing our production levels to better service our customers," continued Dutton, "and we look forward to integrating this new opportunity with our other manufacturing divisions to continue growing our business as an advanced alloy company."

About International Beryllium Corporation

International Beryllium Corporation is a global exploration and development company focused on beryllium, beryllium oxides and beryllium master alloys. Beryllium and related alloys are used in a broad range of specialized industrial applications such as nuclear power, oil and gas, defense, electronics and automotive. IB, a TSX Venture listed company trading under the symbol TSX: IB, is 24.97% owned by Vangold Resources Ltd.

To find out more about Vangold Resources Ltd. please visit our website at www.vangold.ca or contact Dal Brynelsen at 604-684-1974 or by email brynelsen@vangold.ca.

On Behalf of the Board of

VANGOLD RESOURCES LTD.

Dal Brynelsen, President and CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Vangold Resources Ltd.
    Suite 1730, 650 West Georgia Street
    P.O. Box 11622
    Vancouver, BC, V6B 4N9
    Phone: 604-684-1974
    Fax: 604-685-5970
    www.vangold.ca