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IGRU News International Gold Resources Completes Permits for Brazilian Gold Property

SEATTLE--(BUSINESS WIRE)--International Gold Resources Inc. ("IGR") (OTCBB:IGRU) announced today that it has completed its State and Federal Permits required for commencement of production for its Lourenco area Properties in Amapa State, Brazil.

IGR controls a large land package within the Amapa Gold belt, part of the pre-Cambrian Guyana Shield, which is home to major gold producing operations such as Cambior’s Omai Mine (3.7 million ounces produced) in Guyana and the Gros Rosebel Mine (73 million tonnes @ 1.4 gpt Gold for 3.2 million ounces contained) in Suriname.

The area has historical production of gold dating back over 100 years. The license areas controlled by IGR contain both gold in quartz veins and saprolites and also tailings from earlier mining operations.

Work by IGR concentrated on identifying recoverable gold resources in the tailings from these earlier operations and included the digging of 300 pits and sampling of the contained material in five separate basins. This work identified in tailings and saprolites a total inferred resource (not 43.101 compliant), of approximately 800,000 ounces of gold with a gold content of 0.8 to 1.1 grams per ton.

Metallurgical studies carried out by Canadian Environmental & Metallurgical Inc. in 2004, confirmed that the tailings are amenable to recovery of gold by both gravity, and cyanidation. Additional work is required to confirm this metallurgical performance in the field and on a larger suite of samples.

IGR has purchased two portable treatment recovery plants to allow the bulk sampling production of the identified mineral resource. The total cost of the production program in Brazil will be $2.2 million including the purchase of the mill, earth moving equipment, transport to site and installation and commissioning within the first half of 2007. The first mill is expected to be operational by the first quarter 2007.

Completion of the current program is conditional on closing of the current financing package.

About International Gold Resources, Inc.

The vision of International Gold Resources Inc. is to generate favorable shareholder returns by exploring and developing mining properties in North and South America. The Company has a diverse portfolio of mineral projects including a copper project in Arizona, plus excellent drill ready gold exploration targets in the prolific Klondike gold belt of the Yukon.

The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products or actions in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.