IGC Resources Receives Prelim Petrographic Study on Blackburn Gold Project, Western Australia.

VANCOUVER, British Columbia -- IGC Resources Inc. ("IGC") (TSX VENTURE:IGC)(FWB:I6G) is pleased to announce that a preliminary report (the "Report") on the petrographic study of specimens taken from the recent diamond drilling program at the Blackburn Gold Project, Western Australia, has been completed by independent consultant, Dr. Roger Taylor, of Pollard & Taylor Geological Services Pty Ltd, Queensland, Australia. The Blackburn Gold Project, previously considered to be a discrete quartz vein system within a localized regional shear zone, is now considered to be capable of hosting a much larger mineralized system. The Report has confirmed the presence of an extensive hydrothermal alteration system possibly related to magmatic intrusions at depth.

IGC considers the opportunity for a significant major discovery has increased dramatically on the back of the petrographic study. The Blackburn Gold Project is to the SE of the Boddington Mine (two-thirds owned by Newmont and one-third by AngloGold Ashanti), where exploration has successfully identified a world class 19.57M ounce gold bedrock resource (www.bgm.com.au).

There are several stages of alteration present within the ore zone examined, with both quartz veins and sulphides easily visible. High concentrations of magnetite/ilmenite seen in thin section suggest a magnetite stage, whilst close examination of the various biotite minerals present suggest a biotite alteration phase is present as well. The sulphides have occurred as both infill and alteration (spots) and also overprint the monzonitic host sill/dyke rock. The whole system appears to pre-date the regional metamorphism and this has, until now, made recognition of the mineralisation style difficult.

The factors highlighted above, plus the pyrrhotite/chalcopyrite-gold combination, are sufficient to strongly suggest a magmatic origin to the mineralisation rather than a simple shear-hosted gold style is present.

This interpretation fits extremely well with the general Blackburn geological picture of a series of apophyses intruding host rocks further suggesting that the intrusives are part of a large batholithic scale system which would be considered to be deep subvolcanic to batholithic level. In this common scenario the apophyses follow the structure, with subsequent multiple refracture controlling the hydrothermal stages (including the sulphides). The model is further reinforced with the identification of mineralisation and ore shoots on both flanks of the sill. Such systems usually have considerable lateral extent and extend vertically for 1-2 km. There also tend to be repeat situations at the district and regional scale (i.e. the extent of the batholith).

The petrology also reveals some original carbonate host rocks. This opens up the real possibility of skarns and carbonate replacive styles.

Further exploration based on this magmatic model is planned to commence immediately and will comprise a target-generating district analysis, as well as improving geophysical data available, and a comprehensive regionally-based soil sampling program.

Information in this announcement pertaining to exploration results and the petrographic study was compiled by Mr. D. Holden, a director of IGC, who is a Member of the AusIMM and a "Qualified Person" under Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

IGC's principal business activities are the exploration, development and mining of gold, copper and uranium prospects within Western Australia, however IGC continues to investigate other mineral resource prospects for potential acquisition globally.

On behalf of the Board,

Clive Hartz, President & CEO 

Statements in this release may constitute forward-looking statements which involve known and unknown inherent risks and uncertainties that are detailed in IGC's periodic filings with Canadian securities regulators. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Actual events or results could differ materially from IGC's expectations and projections.

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IGC Resources Inc. (TSX VENTURE:IGC) (FRANKFURT:I6G)