Axactor SE — Share Issue/Capital Change 2010

Mar 26, 2010

IGE: Pangea transaction approved

IGE: Pangea transaction approved

IGE Resources AB, the previous International Gold Exploration IGE AB

(OSE: IGE) today announced that the Extraordinary General Meeting of the

Company on 26th March 2010 approved the proposed share issue related to

the acquisition of Pangea DiamondFields plc's operations in Southern

Africa.

The EGM resolved unanimously to issue a maximum of 495,399,057 new

shares, granted exclusively to Pangea DiamondFields plc. In return,

Pangea will contribute all outstanding shares in its 100% owned

subsidiary Effidium Ltd, which owns and operates the acquired diamond

licenses and operations in Southern Africa. Subscription of the new

shares shall be completed by the end of March 2010.

Following the issue, Pangea will hold 38.4 per cent of all outstanding

shares in IGE Resources AB. Pangea will distribute the IGE shares to its

shareholders.

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 Resources becomes a significant diamond

exploration and production company in Southern Africa. The Company will

have a verified resource base of more than 8.4 million carats of rough

diamonds and a total of nine diamonds projects across three Southern

African countries. One of the projects is currently producing and

selling diamonds and IGE Resources expects to generate revenues from a

total of three diamond projects within the next 12 months.

For more detailed information, please refer to the minutes from the EGM

on 26 March, 2010 and IGE's 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

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.