IGE: Further delays in delivery of new shares

IGE Recources AB (OSE: IGE) today announced that the delivery of new
shares following the rights issue completed on 31 May, 2011 has been
further delayed. The delay is caused by the registration process in
Sweden and is outside IGE's control.

Further to IGE's announcement on 15 June on the delay, Swedish corporate
finance house Mangold (IGE's technical coordinator for the rights issue
in Sweden) and Euroclear have informed the Company that all new IGE
shares will not be registered and delivered to the shareholders until 6
July, 2011.

"We have communicated to Mangold and Euroclear that this is highly
unacceptable. However, there is nothing IGE can do at this point, except
let the process run its course. I would like to extend our apologies to
the subscribers," said IGE's acting CEO Thomas Carlsson.

As per 15 June, all subscribed shares were paid for and the share issue
was registered by the Swedish Companies Registration Office
(Bolagsverket) on 16 June, 2011. Apparently, the cancellation of unused
subscription rights was not ordered by the technical coordinator until
17 June, 2011. IGE's position is that this should have been done when
the subscription period ended on 31 May, 2011.

Euroclear's process of removing the unused subscription rights from
their system and converting the interim IGE shares into tradable
ordinary shares is expected to take several working days and will,
according to Euroclear, be completed on 5 July, 2011. The shares will
then be delivered to the shareholders and can be traded on 6 July, 2011.

For shareholders outside Sweden, clearing was completed two weeks ago.
However, the new IGE shares cannot be delivered to the subscribers until
clearing has been completed also in Sweden.

For additional information, please contact:

Thomas Carlsson

CFO and acting CEO, IGE Resources AB

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

E-mail:

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 (http://www.ige.se/) for more detailed information.