Axactor SE

M&A Activity • Mar 29, 2012

29 March 2012

IGE: Consultants appointed to identify a Greater China strategic partner for Nickel Mountain Resources AB and the Rönnbäcken Nickel Project.

IGE Resources AB (publ) (OSE: IGE) ("IGE") is pleased to announce the appointment of Emerging Asia Capital Ltd. ("EAC") as a strategic consultant to assist with the further development of Nickel Mountain Resources AB's Rönnbäcken Nickel Project ("Rönnbacken" or "Rönnbacken Nickel Project").

EAC is a Beijing and Hong Kong based consultancy firm with extensive natural resources experience focused on strategic advice to mining companies seeking Greater China investors and strategic partners. EAC will assist IGE to devise a strategic plan for the future development of the Rönnbacken Nickel Project with a focus on marketing Rönnbacken to potential Greater China and Asian Investors interested in the further exploration and development of Rönnbäcken.

The appointment of EAC does not change the Board of IGE's intention to propose a distribution of IGE's shares in Nickel Mountain to IGE's shareholders and to seek a separate listing for Nickel Mountain shares on the Oslo Stock Exchange or Oslo Axess during 2012.

"We have had the pleasure of serious strategic discussions and collaboration with IGE here in Asia over the past few weeks. Given our experience with Scandinavian mining companies and our foothold in Beijing, we hope to realize successful development of the Rönnbacken Nickel Project. We have been impressed by IGE and their desire to pursue Asian investors and partners, and we believe there is a unique opportunity to build the company around the Asia growth story. The fully funded PFS makes this further step possible and the future for the Rönnbacken Nickel Project now looks very promising. It will be attractive for EAC to further build on our relations with IGE to develop a platform based on this model for further expansion of the company," says Vice President of EAC, James Foster.

"This is an important step forward for IGE giving us a brand new presence in Greater China which clearly is the main driving force for development of mining projects and mining investments. As an example China Development Bank's investment arm last week officially stated that they are targeting nickel as an investment. Based on the inherent value of the Rönnbäcken Nickel Project and the modest market valuation of the Group's share at present, we see a good potential of value creation for the IGE Group in this agreement. EAC has experience and a proven track record from executing deals for other Scandinavian mining juniors listed in Oslo. EAC sees a demand for mining projects located in low risk areas among Chinese investors. This agreement is a result of the ongoing strategic process of the IGE Group and we regard it as the beginning of a long term relationship." says the acting CEO of IGE, Thomas Carlsson.

For additional information, please contact:

Thomas Carlsson CFO and acting CEO, IGE Resources AB Tel: +46 8 402 28 05 / +46 70 552 26 22 E-mail: thomas.carlsson@ige.se

IGE Resources AB (publ) is a Scandinavian asset management and development company within natural resources. IGE's portfolio currently consists of diamond exploration and production assets in Southern Africa and Nickel Mountain Resources AB (publ) owning Scandinavia's largest nickel deposit. 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.