Axactor SE — Interim / Quarterly Report 2010

May 7, 2010

Report for the first quarter 2010, ended March 31,

Report for the first quarter 2010, ended March 31,

IGE Resources AB (former International Gold Exploration IGE AB) ("IGE"

or the "Company") announces results for the first quarter 2010, ended

March 31, 2010.

Summary first quarter:

. For the first quarter of 2010 IGE reports a net loss of MSEK -21,7 or

SEK -0.03 per share, compared to a loss of MSEK -5.3 or SEK -0.01 per

share in the first quarter of 2009. The result includes non recurring

costs of SEK 10.8 million related to the purchase of the activities of

Pangea Diamondfields and a loss of SEK 4.9 million from sale of

exploration permits.

. IGE announced on the 22nd of February 2010, that it has entered into a

conditional sales and purchase agreement whereby IGE acquires all assets

and activities of Pangea DiamondFields plc (AIM:PDF) through the

purchase of the entire issued share capital of Pangea's subsidiary

Efidium Ltd. This effective merger creates a significant diamond

exploration and mining company with resources spread across three

Southern African countries. The transaction was completed on the 31st of

March 2010.

. IGE reached a new milestone in Angola, with Endiama announcing that

IGE has fulfilled the obligations required to move towards

commercialisation of the Luxinge project. According to Endiama, IGE has

fulfilled the requirements set out in the executive decree 49/2008 in

the Luxinge joint venture, which implies that IGE is one step closer to

the commercialisation of the project.

. IGE announces encouraging results from exploration trenching at its

Kenyan gold license. The preliminary results of a reconnaissance

trenching and drilling program at the Atieli target (Kisii Special

License 209) in Kenya, fully owned by IGE, are encouraging as they

suggest a potential high-tonnage, low-grade mineralized system that

could be exploited open-cast. The results indicate the presence of a

gold-mineralized system, including both high-grade narrow mineralization

and low-grade wider mineralization.

. IGE submitted its applications for Exploitation Concessions for the

Rönnbäcken Nickel Project to the Mining Inspectorate of Sweden

("Bergsstaten"). The applications for Exploitation Concessions,

including Environmental Impact Assessments were submitted on the 12th of

February 2010. The application process is estimated to take three to six

months. An Exploitation Concession is granted if there is a probability

for an economic exploitation of the deposit and if the site is

considered appropriate from an environmental point of view. The latter

requirement calls for an Environmental Impact Assessment (EIA) to be

included in the application. The Exploitation Concession grants the

right to carry out mineral exploitation for a twenty-five year period.

For further information, please contact:

Tomas Fellbom

CEO, IGE Resources AB

Telephone: +46 8 402 28 00/ +46 73 322 57 86

E-mail: tomas.fellbom@ige.se

Thomas Carlsson

CFO, IGE Resources AB

Telephone: +46 8 402 28 00/ +46 70 552 26 22

E-mail: thomas.carlsson@ige.se

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 Northern Europe's largest nickel deposits 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.