IRON BEAR RESOURCES LTD — Capital/Financing Update 2004

Jun 24, 2004

INTERNATIONAL GOLDFIELDS LIMITED International Goldfields Limited ABN 71 095 047 920 Ground Roon 18 Oxford Closs Leederville Perth Wastern Australia 6007 Telephone +618 9388 0744 Facsimile +618 9382 1411 PO Box 144 West Penth Western Australia 6872 www.internationalgoldfields.com

25 June 2004

The Manager Company Announcements Office Australian Stock Exchange 10^th Floor, 20 Bond St SYDNEY NSW 2000

Dear Sir/Madam

RELEASE FROM ESCROW

The Company advises that on 9 July 2004, 12,205,716 fully paid ordinary shares will be released from escrow.

The Company will apply to ASX for quotation of the fully paid ordinary shares so released.

Yours faithfully

Kent Hunter