IGE: New board proposed for IGE Nordic AB in preparation for Toronto
listing application

IGE Resources AB (OSE: IGE) today announced nominations to the Board of
Directors of its subsidiary IGE Nordic AB. The proposed board members
all hold strong track records from the mining and metals industries.

The new board is expected to be confirmed by an extra-ordinary general
meeting of IGE Nordic shareholders scheduled for March 3rd 2011.

The new board will be comprised of Mr Øyvind Hushovd as independent
Chairman of the Board, joined by independent directors Mr. Ted Mayers,
Mr. Jeffery Snow, and Mr. Melvyn Williams. In addition to the
independent directors, IGE Resources CEO Tomas Fellbom, IGE Resources
board member Olle Johansson, and IGE Nordic CEO Fredric Bratt are also
nominated as board members.

As previously announced, IGE Nordic is preparing for an initial public
offering (the "IPO") and concurrent listing on the Toronto Stock
Exchange. IGE Nordic AB will be restructured and renamed Nickel Mountain
Resources AB, with the Rönnbäcken Nickel Project as its sole mineral
asset.

About the nominees:

Øyvind Hushovd. From 1996 to 2002 Mr. Hushovd was President and Chief
Executive Officer of Falconbridge Limited, where prior to becoming CEO,
he held several executive positions from 1974 to 1996 including
Executive Vice President and Chief Financial Officer. Mr Hushovd has
significant experience in the mining and resources' industry and has
served on the boards of a number of well known mining companies,
including Cameco Corporation, Gabriel Resources Ltd., Inmet Mining
Corporation, Ivanhoe Nickel and Platinum Ltd., LionOre Mining
International Ltd., Nyrstar NV, and Western Oil Sands Inc.

Tomas Fellbom.   Mr. Fellbom is currently the Chief Executive Officer
of IGE Resources. During his career, he has worked at the Swedish Trade
Council as Vice President and Head of the Southern Europe, Africa and
the Middle East regions, and was the founder and Chief Executive Officer
of Spray Networks in France. Mr. Fellbom has a Master of Business
Administration degree from the Stockholm School of Economics

Olle Johansson. Mr. Johansson has 25 years of mining industry
experience, in the marketing and strategic trading of metals, and
commodity risk management. He is co-founder of Rockstream Capital LLP, a
money management company with an investment focus in metals. Prior to
this, he held a number of executive positions in Falconbridge Limited
including President of Falconbridge Europe SA, Brussels, Director of
Commodity Risk Management, and Vice President of Marketing and Sales.
Mr. Johansson is currently a director on the board of IGE Resources.

Ted Mayers. Mr. Mayers has over 25 years experience in financial
management, with particular expertise in the mining sector and a focus
on multinational finance and accounting, corporate governance, investor
relations and public company administration. He is a Chartered
Accountant, and has held a number of senior financial positions with
publicly listed mining companies, most recently as Chief Financial
Officer of Lundin Mining Corporation. Prior to this, he spent 10 years
as Chief Financial Officer for LionOre Mining International Ltd. He has
served on the boards of a number of mining companies including Mantra
Resources Limited, LionOre Mining International Ltd., GBS Gold
International Inc., and Zaruma Resources Inc.

Jeffery Snow. Mr. Snow is currently Senior Vice President, General
Counsel and Corporate Secretary at Iamgold Corporation. Mr. Snow has
spent his entire career in the mining industry and has been involved in
virtually all aspects of mining law including, acquisitions, mergers,
divestitures, options and joint ventures, as well as environmental and
class action litigation. During his 25-year tenure with
Noranda/Falconbridge, he held a variety of positions culminating in his
appointment as Senior Vice President and General Counsel. Following his
career at Noranda/Falconbridge, Mr. Snow worked a number of years as
Managing Director at McMillan LLP's Mining Group, providing strategic
and hands-on mining law advice to clients of the firm.

Melvyn Williams. Mr. Williams is the CFO and Senior Vice President,
Corporate Development for Brigus Gold Corporation, a gold mining and
exploration company. He is a Chartered Certified Accountant, and has
over 30 years international finance experience, particularly in the
natural resource industry. Since 1994, Mr. Williams has held a number of
senior financial positions with gold mining companies, including Vice
President Finance at Lac Minerals Ltd. in North America, Financial
Director at Star Mining Corporation, and in the period 1997-2003, he was
the Chief Financial Officer for TVX Gold Inc. Mr. Williams serves on the
board of Andina Minerals Inc.

Fredric Bratt. Mr. Bratt has held the position of Chief Executive
Officer with IGE Nordic since August 2007. He has more than 20 years of
international and commercial experience from the mining and metals
industry (mainly nickel, copper, cobalt, lead, zinc, precious and
platinum group metals). Mr. Bratt worked for over eight years with
Falconbridge International in Brussels, initially as Manager Raw
Materials and later as Director Raw Materials.

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 (tomas.fellbom@ige.se)

Fredric Bratt

CEO, IGE Nordic AB

Phone: +46 8 402 28 00 / Mobile: +46 762 35 32
60

E-mail: fredric.bratt@igenordic.se (fredric.bratt@igenordic.se)

Thomas Carlsson

CFO, IGE Resources AB

Tel: +46 8 402 28 05 / +46 70 552 26 22

E-mail: thomas.carlsson@ige.se (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 Scandinavia's largest nickel projects 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 (http://www.ige.se/) for more detailed information.

IGE: New board proposed for IGE Nordic AB in preparation for Toronto listing application