IRON BEAR RESOURCES LTD — Share Issue/Capital Change 2007

Sep 10, 2007

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International Goldfields Limited

18 Oxford Close Leederville WA 6007

11 September 2007

Manager of Company Announcements Australian Stock Exchange Limited Level 6, 20 Bridge Street SYDNEY NSW 2000

Via E lodgement

INTERNATIONAL GOLDFIELDS SELLS EVANSTON ASSETS TO SOUTHERN CROSS GOLDFIELDS FOR AUD$900,000

Diversified Australian resources company International Goldfields Ltd (“International Goldfields” or “the company”) has reached agreement with Southern Cross Goldfields Limited (“Southern Cross”) to sell its Evanston project in the Eastern Goldfields region of Western Australia for AUD$900,000.

Southern Cross, which is looking to conduct an Initial Public Offering (IPO) in the coming months, has paid International Goldfields a non-refundable deposit of AUD$50,000, with the balance of AUD$850,000 to be paid in the coming 24 hours.

Under the terms of an earlier agreement between International Goldfields and Cape Lambert Iron Ore (“Cape Lambert”), Cape Lambert subsidiary Global Iron Limited will retain the rights to explore for and develop any iron ore projects on these tenements.

The sale of the Evanston project, together with the recent sale of the company’s Mt Ida project further consolidates the Company’s focus on the exploration and development of the recently acquired farm in rights to the Genorah Farms platinum project in the Bushveld region of South Africa.

International Goldfields, together with its project partners have commenced significant exploration at Genorah Farms and expects results of this to become available by the end of the month.

Please find attached an Appendix 3B.

For further information:

Tony Sage, Executive Chairman, International Gold fields Limited Ph: 08 9388 0744 / 0419 905 908

David Tasker, Professional Public Relations

Ph: 08 9388 0944

International Goldfields Limited ACN 118 108 615 18 Oxford Close, West Perth WA 6007 Phone: (08) 9388 0744 Fax: (08) 9392 1411

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

INTERNATIONAL GOLDFIELDS LIMITED

ABN

76 118 108 615

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be issued 2 Number of+securities issued or to be issued (if known) or maximum number which may be issued 3 Principal terms of the+securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)	Ordinary Fully Paid Shares
	133,500 Ordinary Fully Paid Shares
	Ordinary Fully Paid Shares

• See chapter 19 for defined terms.

Appendix 3B Page 1

1/1/2003

4 Do the[+] securities rank equally in all respects from the date of allotment with an existing[+] class of quoted +securities?

Yes – Ordinary Fully Paid Shares

If the additional securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 5 Issue price or consideration

• 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)

• 7 Dates of entering[+] securities into uncertificated holdings or despatch of certificates

• 8 Number and[+] class of all[+] securities quoted on ASX ( including the securities in clause 2 if applicable)

• 9 Number and[+] class of all[+] securities not quoted on ASX ( including the securities in clause 2 if applicable)

Exercise of Options at 15 cents each (total consideration$20,025)	Exercise of Options at 15 cents each (total consideration$20,025)
Conversion of Options
12 September 2007
Number	~~+~~Class
104,864,573	Ordinary fully paid shares
Number	~~+~~Class
8,102,266 6,000,000 7,033,166 60,000,000 60,000	Fully Paid Ordinary Shares Options ($0.20, Dec 2008) Options ($0.15, June 2009) Options ($0.20, June 2009) Converting Performance Shares

• 10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

Not applicable

Part 2 - Bonus issue or pro rata issue

11 Is security holder approval required?

• 12 Is the issue renounceable or non-renounceable? 13 Ratio in which the[+] securities will be offered

14	+Class of +securities to which the offer relates
15	+Record date to determine entitlements
16	Will holdings on different registers (or
	subregisters) be aggregated for calculating
	entitlements?
17	Policy for deciding entitlements in relation to
	fractions
18	Names of countries in which the entity has
	+security holders who will not be sent new
	issue documents
	Note: Security holders must be told how their
	entitlements are to be dealt with.
	Cross reference: rule 7.7.
19	Closing date for receipt of acceptances or
	renunciations
20	Names of any underwriters
21	Amount of any underwriting fee or commission
22	Names of any brokers to the issue
23	Fee or commission payable to the broker to the
	issue
24	Amount of any handling fee payable to brokers
	who lodge acceptances or renunciations on
	behalf of+security holders
25	If the issue is contingent on+security holders’
	approval, the date of the meeting
26	Date entitlement and acceptance form and
	prospectus or Product Disclosure Statement will
	be sent to persons entitled
27	If the entity has issued options, and the terms
	entitle option holders to participate on exercise,
	the date on which notices will be sent to option
	holders
28	Date rights trading will begin (if applicable)
29	Date rights trading will end (if applicable)
30	How do+security holders sell their entitlements
	_in full_through a broker?
31	How do+security holders sell_part_of their
	entitlements through a broker and accept for the
	balance?

• See chapter 19 for defined terms.

Appendix 3B Page 3

1/1/2003

• 32 How do[+] security holders dispose of their entitlements (except by sale through a broker)?

• 33 +Despatch date

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities ( tick one )

• (a)[Securities described in Part 1 ]

• (b) All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35 If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[+] securities, and the number and percentage of additional[+] securities held by those holders

• 36 If the[+] securities are[+] equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over

• 37 A copy of any trust deed for the additional[+] securities

Entities that have ticked box 34(b)

38	Number of securities for which+quotation is
	sought
39	Class of+securities for which quotation is
	sought
40	Do the+securities rank equally in all respects
	from the date of allotment with an existing
	+class of quoted+securities?
	If the additional securities do not rank equally,
	please state:
	• the date from which they do
	• the extent to which they participate for the
	next dividend, (in the case of a trust,
	distribution) or interest payment
	• the extent to which they do not rank equally,
	other than in relation to the next dividend,
	distribution or interest payment

• 41 Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

Number +Class

42 Number and[+] class of all[+] securities quoted on ASX ( including the securities in clause 38)

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted[+] quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that noone has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the[+] securities to be quoted, it has been provided at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the[+] securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before[+] quotation of the[+] securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here: Date: 11 September 2007

Print name: JOANNA KIERNAN, COMPANY SECRETARY

• See chapter 19 for defined terms.

Appendix 3B Page 5

1/1/2003