Recent Exploration Extends and Finds New Gold Mineralised Structures at the Solvik Project

IGE Nordic AB (IGE Nordic”) and Archelon Mineral AB are pleased to announce further drilling results from its Solvik project in southern Sweden. The key takeaway is that the recent drilling program has confirmed a continuation of the gold zone to the south-east, and it is open along strike and at depth. In addition, two new gold structures were identified from boulders and outcrops as a result of soil sampling.

The Solvik project, located near Bengtsfors in southern Sweden, is being explored for gold mineralization. The project is a joint venture with each company owning a 50% working interest. IGE Nordic is operator.

The program consisted of 5 drill holes, totalling 845 m. Drilling successfully defined the mineralised structure in a fault zone, with a strike north-west – south-east, as a silicified and quartz-breccia zone. Drill hole SOL7 intersected 30 m of the quartz-breccia at 180 m depth with some values of between 1 and 3 ppm gold, 20 to 50 ppm silver and 0.1 to 0.4% copper over 1 m intervals. With regard to the other four holes, one was lost in poor ground and the other three were not mineralised and excluded a north-south strike of the mineralised structure. The gold mineralisation intersected in DH SOL7 is open along strike to the south-east and north-west and at depth. The collar locations of the drill holes are listed below in Table 1 and the assay results in Table 2 below.

Additional diamond drilling towards south-east is planned in the fourth quarter.

The exploration program has also been able to confirm gold anomalies beyond the area of diamond drilling program.
• Regional prospecting resulted in the discovery of a mineralised boulder with 7 g/t gold, 4 km north of Solvik, and mineralisation in an outcrop with 8 g/t gold from a grab sample.
• Regional geochemical soil sampling in an area about 12 km north of Solvik, collected about 200 samples in January of 2008, and they too generated strong gold anomalies. This was followed up in the second quarter of 2008 with a second and a third phase of soil sampling (150 samples), which also confirmed gold mineral occurrences. Gold was also found in another outcrop.
• The newly-discovered mineral occurrences are covered by two additional exploration licenses, with one granted and the other in progress. Geological and geophysical surveys are planned and the targets will be followed up by diamond drilling.

The gold mineralisation found in Solvik area is within the Vänern-Mjösa Goldbelt. In the past, a large number of small gold and base metal mineral occurrences have been discovered in the Belt; several were producers. The most recent gold mine was Harnäs (1993-1996), 16 km north of Solvik.

The drill program for the Solvik Gold Project is the responsibility of Benny Mattsson, Exploration Manager of IGE Nordic. Benny Mattsson is registered as a Qualified Person (“QP”) with Swedish Association of Mines, Mineral and Metal Producers (“SveMin”). The drill core samples, rock samples and soil samples were prepared at ALS Chemex laboratory in Piteå, Sweden and analysed by ALS Chemex laboratory in Canada.


TABLE 1: Drill Collar Information

Hole Number Easting Northing Dip Azimut
SOL04 /1301766 /6559471 /50 /270
SOL05 /1301871 /6559257 /50 /250
SOL06 /1301676 /6559319 /50 /70
SOL07 /1301675 /6559319 /50 /60
SOL08 /1301913 /6559397 /50 /250

TABLE 2: Assay Results

Drill Hole SOL07
From To Width Au g/t Ag g/t %Cu
241.4- 242.4 1.00 /0.99 /43 /0.42
257.4- 258.4 1.00 /2.97 /49 /0.29
263.4- 264.4 1.00 /2.37 /42 /0.46

IGE Nordic AB
IGE Nordic AB (publ) is a Swedish exploration company focused on nickel, gold, copper and zinc with an existing, large and diversified portfolio of projects in Sweden and Norway. IGE Nordic is listed on Oslo Axess (OAX) with the ticker IGENOR. For more information, visit www.igenordic.se.

Archelon Mineral AB
Archelon Mineral AB (publ) is listed on the Gothenburg stock exchange with a focus on assets in the mineral sector. For more information, please visit www.archelon.se


For further information, please contact:

Fredric Bratt, Chief Executive Officer
Mobile: +46 762 35 32 60
E-mail: fredric.bratt@igenordic.se

Benny Mattsson, Exploration Manager
Mobile: +46703199356
E-mail: benny.mattsson@igenordic.se