upandaway

Hello everyone,

Discovered this junior that is well financed, and will be going into production.

Trades around 0.10/share.

Apparently they will be recommisioning a mine with past prodution etc.

The News is below.

upandaway

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IGL EXPLORATION & MINING UPDATE VANCOUVER, BRITISH COLUMBIA -

INTERNATIONAL GOLD MINING LIMITED (IGL-TSX.V) (the “Company”) is pleased to provide an update of its exploration and mining operations in light of the sale of 1 million shares of Macarthur Minerals Limited (MMS-TSXV) for CAN $1,400,000 as reported on March 18, 2008.

These funds will be used for working capital and will assist the Company in carrying out the following activities in its 3 projects in Western Australia, and its uranium exploration project in Tanzania:

1. Tanzania Uranium Project

The Company has established a major ground position in the Bahi / Manyoni uranium belt of Central Tanzania. The Bahi Swamp catchment area is for the most part a dry lake covering over 1000 km2 in extent, and incorporates an extensive closed drainage system that has developed over 27,000 km2 of weathered uranium rich “hot” Archaean granites.

The drainage system ultimately captures all soluble uranium leached from the “hot” granites and provides transport to suitable trap sites along the drainages and ultimately into a large playa lake, “the Bahi Swamp”
Uranium accumulation within the Bahi catchment system has been recognized since the 1950’s when uranium mineralization was first intersected in a drill hole located near the centre of Bahi Swamp.

More recently, the discovery of the Manyoni C1 deposit and three new uranium mineralized prospects in playa lakes in the Bahi region by Uranex NL, an ASX listed company, has only confirmed the true potential of the area.
International Gold Mining Limited regards this project as a “Priority Project” and intends to start exploration on the ground in the coming quarter.

Australian Gold Projects

2. British King Gold Mine - To bring the Company’s British King Gold mine back into production.

British King Gold Mine is located approximately 320 km North West of Kalgoorlie, Western Australia and is 5 km West of Barrick Gold’s Darlot Mine. British King is 43-101 compliant and has grades in excess of 20g/t Au.

As previously announced, the Company has entered into a formal mining contract and option agreement with Roxbury Mining Consultants to advance the mine into production. IGL recently completed a re-commissioning of mine, camp and infrastructure needed to support small scale mining operations, Roxbury mining has commenced the final stages of the above and underground development. All permits are now in place and dewatering of the mine has commenced, the Company expects the mine to come into production in the coming quarter. (A feasibility study has not
been completed and there is no certainty that the proposed operations will be
economically viable.)

3. Kenden Well Gold Project - To explore the Company’s Kenden Well Gold Project in Western Australia.

The Kenden Well Gold Project is located in the Yandle Greenstone belt some 60 km East of Wiluna, where previous exploration for gold has out lined an area with an indicated width of 50 meters and a strike length in excess of one kilometer.

The gold values outlined shows a classic leach profile signature, and the depth projection remains untested. Assay values within the defined drill target zone include: 2 meters @ 7.6g/t Au; 8 meters @ 3.9g/t Au open at depth; 2 meters @ 8.5g/t Au; 8 meters @ 2.4g/t Au; 8 meters @ 4.3g/t Au; and 10 meters @ 4.2g/t Au.

A reverse circulation drilling program has now been planned, and a drilling rig has been booked to start drilling in early May.

4. Eureka Gold Project - To further explore and upgrade the Eureka tenements.

The Eureka Gold Project is located 50 km North of Kalgoorlie, in Western Australia where the Company has a measured resource of 451,000 tonnes at a grade of 4.4g/t Au. There remain further untested zones that require further drilling.

The Company plans to lodge an N.O.I. (“Notice of Intent” to mine) with the
Department of Industry and Resources Western Australia.

“International Gold Mining is a mining exploration company, not an investment company. With the proceeds from the sale of this investment, we can move forward with adding shareholder value through developing the Company’s projects. Our operations are now adequately funded without the need of further dilution of the Company’s issued capital,” stated Alan Phillips, CEO.

Qualified Person

Mr. Nick Revell BSc, a member of AusIMM, and a Company director, is a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), and is in charge of the Company’s exploration projects and project initiatives. Technical aspects of this news release were prepared and verified by Mr. Nick Revell, who is the technical person responsible for this news release.


On behalf of the Board of Directors

INTERNATIONAL GOLD MINING LIMITED

“Alan Phillips”
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Alan Phillips, President/CEO