Axactor SE — Share Issue/Capital Change 2010

Mar 26, 2010

IGE

Press release No 12 - 2010

26 March, 2010

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 additional information, please contact:

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

Thomas Carlsson
CFO, 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 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.