Axactor SE

Capital/Financing Update • Aug 24, 2010

24 August, 2010

IGE initiates a process to secure additional financing for the Rönnbäcken nickel project

IGE Resources AB (OSE: IGE) today announced that the Company has retained the services of Hatch Corporate Finance to execute a process to secure additional financing for IGE's Rönnbäcken nickel project in Sweden.

Rönnbäcken is one of Scandinavia's largest nickel sulphide projects and IGE is currently working to expand the documented resource base and significantly increase the project value. Swedish authorities have recently granted exploitation concessions, and nickel production is scheduled to commence in 2015.

IGE has started work on a Pre-Feasibility Study for the Rönnbäcken project. IGE estimates that the extensive study requires an investment of approximately USD 13 million. Hatch Corporate Finance is being retained to secure a strategic investor, primarily to finance and accelerate the Pre-Feasibility Study. A new strategic investor will assume a minority interest in the project.

IGE has previously entered into a strategic partnership with the Mitchell River Group (MRG) of Australia, a company with a well established track-record in nickel project development worldwide. MRG will provide expertise, capabilities and technical resources for the development of Rönnbäcken.

Hatch Corporate Finance is an independent corporate finance advisory firm focused exclusively on the metals and mining sectors. The firm has successfully executed transactions with a combined value in excess of USD 10 billion since 2003. Hatch Corporate Finance is part of the Hatch Group, which is the world's leading engineering and consulting firm in the metals and mining sector.

For additional information, please contact:

Tomas Fellbom CEO, IGE Resources AB Phone: +46 8 402 28 00 / Mobile: +46 73 322 57 86 E-mail: tomas.fellbom@ige.se

Jan-Erik Back Executive Director, Hatch Corporate Finance Phone: +44 20 7906 5143 E-mail: jeback@hatchcf.com

IGE Resources AB (publ) is a Scandinavian company mainly focusing on diamonds exploration and production in Southern Africa. IGE's portfolio also includes one of Scandinavia's largest nickel projects and gold exploration projects in Kenya. IGE is headquartered in Stockholm and its shares are listed on the Oslo Stock Exchange (ticker: IGE). Please refer to www.ige.se for more detailed information.