Axactor SE — M&A Activity 2010

Apr 6, 2010

IGE: Pangea transaction completed

IGE: Pangea transaction completed

International Gold Exploration IGE AB (OSE: IGE) (change of name to IGE

Resources AB is pending) today announced that the acquisition of Efidium

Ltd from Pangea DiamondFields plc was completed after closing of Oslo

Stock Exchange on the 31st of March 2010. The closing of the transaction

means that International Gold Exploration IGE AB (IGE) has reached its

objective of becoming a significant diamond exploration and production

company in Southern Africa.

The Extraordinary General Meetings of IGE and Pangea DiamondFields plc

approved the transaction on Friday 26 March 2010, and the transaction

was completed after closing of Oslo Stock Exchange last Wednesday, 31st

of March 2010. The number of consideration shares and other material

elements of the transaction remain unchanged from the share purchase

agreement of 21 February 2010.

In total, 495,399,057 new shares in IGE were issued to Pangea

DiamondFields plc as consideration for the shares in Efidium Ltd. The

consideration shares were subscribed by Pangea DiamondFields plc upon

completion today and will later be distributed to Pangea DiamondFields

plc's shareholders. They will then combined hold 38.4 per cent of all

outstanding shares in IGE.

It is expected that the share capital increase will be registered in the

Swedish Companies Register on or about 8 April 2010 and in the

Euroclear/VPS on or about 9 April 2010. The new shares will be listed

and tradable on the Oslo Stock Exchange immediately following

registration in the VPS.

Through the transaction, IGE has become a significant diamond

exploration and production company in Southern Africa. The company has a

verified resource base of more than 8.4 million carats of rough diamonds

and a total of nine diamond projects across three Southern African

countries. One of the projects is currently producing and selling

diamonds and IGE expects to generate revenues from a total of three

diamond projects within the next 12 months.

For more information, please refer to the Information Document dated 18

March 2010.

For further information, please contact:

Tomas Fellbom

CEO, International Gold Exploration IGE AB

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

E-mail: tomas.fellbom@ige.se

Thomas Carlsson

CFO, International Gold Exploration IGE AB

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

E-mail: thomas.carlsson@ige.se

International Gold Exploration IGE 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.