Axactor SE

Capital/Financing Update • Oct 31, 2013

IGE's largest sharesholder Altro Invest AB participates with a 29,7 % share in the convertible loan

Altro Invest AB has informed IGE Resources AB (IGE) that the company will participate with a 29, 7 % share in the convertible loan facility which IGE is offering its shareholders up to and including November 8th, 2013. The interest-bearing and secured loan facility of SEK 4 million which Altro previously has provided to IGE will, partly or completely, be redefined into an interest-free, unsecured and convertible loan in accordance with the offer which IGE has proposed to its shareholders. To the extent necessary to maintain its ownership position of 29, 7% in IGE, Altro will also provide new capital, irrespective of the total amount provided by IGE's other shareholders.

For any questions with regard to this press release, please contact:

Erlend Dunér Henriksen Deputy board member, IGE Resources AB Mobile: +47 920 18 950 E-mail: erlend@henriksen.as

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For general information with regard to IGE Resources AB, please contact:

Stefan Persson Chairman, IGE Resources AB Phone: +46 8 402 28 00 / Mobile: +46 70 486 21 90 E-mail: info@ige.se

IGE Resources AB (publ) is a Swedish company headquartered in Stockholm. Its shares are listed on the Oslo Stock Exchange (ticker: IGE). Please refer to www.nickelmountain.se or www.ige.se for more detailed information.