IGE Resources’ subsidiary Nickel Mountain Resources Files Preliminary Prospectus for Initial Public Offering in Canada

April 14, 2011 - IGE Resources AB (OSE: IGE) today announced that its subsidiary Nickel Mountain Resources AB (publ) (“Nickel Mountain”) has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces of Canada (except Québec) in connection with a proposed initial public offering of units (the “Units”). Each Unit will consist of one common share and one-half of one common share purchase warrant.  The offering is being made through Haywood Securities Inc.

The preliminary prospectus contains important information relating to these securities. The preliminary prospectus is still subject to completion or amendment and has not yet become final for the purpose of a distribution of the securities to the public. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Nickel Mountain in any jurisdiction in which such offer, solicitation of sale would be unlawful. There will be no sale or any acceptance of an offer to buy the Units in any province of Canada until a receipt for the final prospectus has been issued. A copy of Nickel Mountain’s preliminary prospectus is available on SEDAR at www.sedar.com .

Nickel Mountain’s principal asset is the 100% owned Rönnbäcken nickel project located in northern Sweden.  Nickel Mountain intends to use the proceeds from the offering for extension exploration, geotechnical, hydrogeological, metallurgical and environmental data acquisition in preparation of a pre-feasibility study and general working capital.

This news release is not an offer of securities for sale in the United States. These securities have not been and will not be registered under the United States Securities Act of 1933 , as amended (the “ U.S. Securities Act ”) or any U.S. state securities laws and may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom.  Any public offering of the securities in the United States may only be made by means of a prospectus containing detailed information about Nickel Mountain and its management as well as financial statements.

For more information on the Rönnbäcken nickel project, please refer to Nickel Mountain’s NI 43-101 compliant technical report “ Preliminary Economic Assessment for the Rönnbäcken Nickel Project, Sweden” by SRK Consulting (Sweden) AB dated April 7, 2011 and available on Nickel Mountain’s website at www.nickelmountain.se and on SEDAR at www.sedar.com .

Forward Looking Statement

Some of the statements contained in this news release are forward-looking statements, such as statements that describe Nickel Mountain’s future plans, intentions, objectives or goals, and specifically include but are not limited to statements regarding the Rönnbäcken nickel project and the initial public offering.

 Actual results and developments may differ materially from those contemplated by such forward-looking statements depending on, among others, such key factors as the possibility that actual circumstances will differ from the estimates and assumptions used in the potential of the Rönnbäcken nickel project, the environmental and social cost of proceeding with the project, uncertainty relating to the availability and costs of financing needed in the future, general business and economic conditions, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of the project, changes in legislation governing emissions into the air and water, waste, and the impact of future legislation and regulations on expenses, capital expenditures and taxation, changes in project parameters, variation in ore grade or recovery rates, delays in obtaining government approvals and necessary permitting, impurities in products and other risks involved in the mineral exploration and development industry.

The forward-looking statements included in this document represent Nickel Mountain’s views as of the date of this news release and subsequent events and developments may cause Nickel Mountain’s views to change.  Nickel Mountain disclaims any obligation to update forward-looking information except as required by law.  Readers should not place undue reliance on any forward-looking statements.

For additional information, please contact:

Thomas Carlsson
CFO and acting CEO, IGE Resources AB
Phone: +46 8 402 28 00 / Mobile: +46 70 552 26 22
E-mail: thomas.carlsson@ige.se

Fredric Bratt
President and CEO Nickel Mountain Resources AB
Phone: +46 8 402 28 00 / Mobile: +46 762 35 32 60
E-mail: fredric.bratt@nickelmountain.se  

IGE Resources AB (publ), is a Scandinavian company mainly focusing on diamond 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.

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