IRON BEAR RESOURCES LTD — Board/Management Information 2004

Sep 16, 2004

INTERNATIONAL GOLDFIELDS LIMITED

International Goldfields Limited ABN 73-095-047-920 Ground Floor 18 Oxford Close Leederville Perth Western Australia 6007 Telephone +618 9388 0744 Pacsimile +618 9382 1411 PO Box 144 West Penth Western Australia 6872 www.internationalgoldfields.com

September 17, 2004 Company Announcements Office

Australian Stock Exchange Limited

Via: E Lodgement

TONY SAGE APPOINTED NON EXECUTIVE CHAIRMAN OF NFX GOLD INC & CHANGE IN DIRECTOR

We are pleased to announce that Mr Tony Sage has accepted the position, effective immediately, of Non Executive Chairman with NFX Gold Incorporated (TSX:NFX). NFX either directly or through joint venture partnerships, holds interests in gold exploration properties in the Kirkland Lake and Lake Abitibi areas of northern Ontario, Canada.

Mr Timothy Paul Turner has joined International Goldfields Limited (ASX:IGL) in the dual position of Director and Company Secretary. This appointment is immediate.

As a partner with Accountants Hewitt Turner & Gelevitas. Mr Turner specialises in offshore and domestic business structuring, corporate and trust tax planning and the issuing of audit opinions. He also has in excess of 20 years experience in new ventures, capital raisings and general business consultancy.

Mr Turner has a Bachelor of Business (Accounting and Business Administration), is a Registered Company Auditor and a Certified Practicing Accountant. He is also a Fellow of the Taxation Institute of Australia.

Mr Turner replaces Mr Kent Hunter who is stepping down due to an increased external workload. Mr Hunter is a Director of three publicly listed companies and a Company Secretary to an additional five.

On behalf of the Board I would like to thank Kent for the significant role he has played with International Goldfields Limited during the past 2 years. He has been an integral and hard working member of the management team.

Mr Turner joins International Goldfields Limited at an important time in the Company's life. IGL owns three large projects in well-mineralised belts in Western Australia and Romania and has a strong technical team. In addition to this the Company holds significant interests in a range of gold explorers/producers both in Australia and overseas, which provide a sustained cash flow to the business.

Yours faithfully

Tony Sage Executive Chairman