WYG International Wayside Gold Mines New Com Npv

International Wayside Gold Mines Ltd. ("Wayside", the "Company") (TSX
VENTURE:WYG)(FRANKFURT:IWUB) wishes to report that the Company has filed three
separate National Instrument 43-101 Technical Reports (NI 43-101 reports) in the
last quarter of 2009 on the Company's properties within the Cariboo Gold Project
area. The reports are available on SEDAR and also on the Company's website. The
reports discuss: 1) The property north of Barkerville Historic Town including
that which was acquired by the Company from Island Mountain Gold Mines Ltd., 2)
The Company's recently purchased property south of Barkerville Historic Town,
formerly owned by Golden Cariboo Resources Ltd., and 3) The Pre-Feasibility
Study (PFS) for the proposed open pit mine at Bonanza Ledge on Barkerville
Mountain.


Cariboo Gold Project

On December 18th, 2009, the Company filed a NI 43-101 report on the Cariboo Gold
Project compiling exploration activities from 2006 to 2008, authored by Jarrod
Brown, M.Sc., P.Geo. The Report concentrates on drilling activities, peripheral
to the Bonanza Ledge proposed open pit mine, at the Mucho Oro and Goldfinch
zones and drilling on the proposed open pit on Cow Mountain, located
approximately 2.5 km northwest of Bonanza Ledge's proposed open pit mine on
Barkerville Mountain. The report highlights the Company's drilling successes to
date and recommends further drill programs. 


Golden Cariboo

On December 15th, 2009, the Company filed a NI 43-101 report on the mineral
tenure south of Barkerville Historic Town, acquired from Golden Cariboo
Resources Ltd. The report covers exploration activity between 2000-2008. The
report's authors, Jarrod Brown M.Sc., P.Geo, and Jim Yin Ph.D. P.Geo, suggest
"considering the large area of the land package, previous exploration programs
provided only limited information of gold mineralization in the region. A
greater density of geophysics, geological mapping, trenching and drilling is
required to have a better understanding of the mineralization on the land
package. It is the author's opinion that explorations to date have shown that
the land package has the potential to host economically feasible mineral
deposits."


Bonanza Ledge

On October 23rd, 2009, the Company filed a NI 43-101 PFS on its Bonanza Ledge
proposed open pit gold deposit authored by EBA Engineering Consultants Ltd. and
several independent professionals and consultants. This PFS shows that "the
identified Mineral Resources are economic using the assumptions described and
can be classed as Mineral Reserves." A total of 328 thousand tonnes of ore at an
average grade of 0.264 oz/ton Au (9.05 g/T) will be mined from the deposit over
four years. Most encouragingly, the report states that the mineral beneficiation
processes at the QR Mill appear to be compatible with the ore from Bonanza
Ledge. Cyanidation tests have returned positive results with high recoveries.
The Company is currently in the final stages of the permitting process and, once
complete, will truck Bonanza Ledge ore to the 900 tonne per day QR Mill to be
batch milled.


Since the PFS was published, 18 additional diamond drill holes have been
completed on the Bonanza Ledge proposed open pit mine site. The drill hole plan
was designed by Mintec, Inc of Tucson, Arizona. These additional holes are
expected to increase the mineable resource. 


About International Wayside Gold Mines

The Company has been developing its Cariboo Gold Project in Barkerville, B.C.,
which encompasses (from northwest to south east) the former producing
Hardscrabble Tungsten Mine, Mosquito Creek Gold Mine (now on care and
maintenance), Aurum Mine, Island Mountain Mine, Cariboo Gold Quartz Mine,
Bonanza Ledge (proposed mine), the Cariboo Thompson Gold & Silver Mine and the
Cariboo Hudson Mine. The Company commenced operations in the Cariboo District in
1994 and since that time has focused on the exploration and development of its
gold properties. The Company's mineral tenures in the Historic Barkerville Gold
Camp encompass approximately 1,065 square km (106,484 hectares) over a 60km by
20km wide belt. In the Historic Barkerville Gold Camp, 101 creeks have reported
placer gold production. Recorded gold production from the area totals more than
3.8 million ounces, including an estimated 2.64 million ounces from placer
mining and 1.23 million ounces from lode mining. On December 16, 2009, the
Company entered into an agreement by which it will acquire the QR Mine and Mill,
110km by road from its Bonanza Ledge proposed open pit gold deposit. 


The technical information in this News Release has been reviewed and approved by
Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National
Instrument 43-101.


On Behalf of the Board of Directors

J. Frank Callaghan, President & CEO

This news release contains forward-looking statements regarding the timing and
content of upcoming programs. Actual results may differ materially from those
currently anticipated in such statements.

International Wayside Gold Mines New Com Npv (TSXV:WYG)
Historical Stock Chart
From Jun 2024 to Jul 2024

International Wayside Gold Mines New Com Npv (TSXV:WYG)
Historical Stock Chart
From Jul 2023 to Jul 2024