Axactor SE

Regulatory Filings • Jan 17, 2013

17 January, 2013

IGE pursues DRC diamond projects

IGE Resources AB (OSE: IGE) today announced its decision to move forward with the Company's two diamond projects in the Democratic Republic of Congo (DRC). Recent independent surveys and actual output from the current operations suggest attractive diamond potential at low investments and operating costs.

IGE's Board of Directors has resolved to pursue the development of the DRC diamond projects following a thorough review of the Company's assets and strategy.

IGE's diamond assets portfolio includes two diamond licenses in DRC; Tshikapa River and Longatshimo River. The projects have a combined verified resource base of approximately seven million carats of rough diamonds. IGE's intends to develop the Tshikapa River license first.

"IGE has previously invested USD 6 million in equipment and infrastructure in DRC. Recent assessments and trial operations suggest that the investments now needed to develop the Tshikapa River into a profitable operation are low. Furthermore, recent bulk sampling has provided attractive diamond sizes and grades," said IGE's acting CEO, Thomas Carlsson.

IGE's DRC operations will benefit from the experience and expertise of its local partner as well as IGE's main shareholder Amarant Mining. Amarant has significant experience in operating precious metals projects in DRC.

"DRC is the world's third largest diamonds producer. We will now utilise IGE's previous investments in the country and benefit from local expertise as we move forward with a low cost, small scale diamond operation," Thomas Carlsson said.

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 several 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.