Axactor SE — M&A Activity 2010

Apr 6, 2010

IGE

Press release No 16 - 2010

6 April, 2010

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 additional information, please contact:

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

Thomas Carlsson
CFO, International Gold Exploration IGE AB
Tel: +46 8 402 28 05 / +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 (licker: IGE). Please refer to www.ige.se for more detailed information.