IGRU International Gold Resources Inc (CE)

International Gold Resources, Inc. (IGRU; Pink Sheets) announced today that the Company has filed its amended application for approval of its Cupixi mineral license with the Brazilian National Department of Mineral Production (DNPM). In October, 2007, IGR announced the discovery of a manganese target on its Cupixi exploration claims in Amapa State, Brazil along with the filing of its original mineral license application with the DNPM. During the first half of 2008, in response to comments received from the DNPM, the Company performed additional technical evaluation of the work performed at the Cupixi project prior to the original October 2007 submittal. The amended application report, prepared by Progem Consultaria e Meio Ambiente Ltda. (Progem), an independent and highly respected geologic consulting firm based in Goiania, Brazil addresses fully the DNPM�s comments and further supports the existence of a potentially significant manganese target at Cupixi. The Progem report indicates that the Company�s Exploration Claim Block 858.034/2001 in the Cupixi area contains an estimated minimum 26 million tonnes of manganese ore. The estimate is based on a delineated surface area of approximately 2 km by 0.7 km containing several manganese outcrops up to 150 meters in length. The estimate is supported by soil samples, trenches of up to 18 meters, and auger holes. The estimate is not compliant with Securities and Exchange Commission and Canadian NI43-101 standards. Company President and Chief Executive Officer, Robert L. Dumont commented, �I am extremely pleased with the quality of the work performed by Progem and the efforts of Mike Michels, Vice President, Brazilian Operations and the rest of our Brazilian team to complete this process. I look forward to receiving approval from the DNPM to continue our exploration and development efforts at Cupixi.� At such time as the Company�s amended mineral license application is approved by the DNPM, the Company intends to seek additional financing to drill on the property and conduct additional feasibility work on Claim Block 858.034/2001 to further determine the grades, depth, and potential economics of the manganese target. If merited, then the Company will have one year from the date of approval to seek a mining concession. An application for a mining concession must include, among other things, a plan for economic development of the deposit, description of processing and ancillary facilities, proof of financial capacity, and satisfaction of various environmental and other required operating permits. The Cupixi target also appears to trend to the north-east extending on to the Company�s Exploration Claim Block 858.037/2007 to the immediate north of Claim Block 858.034/2001, where the Company had suspended drilling pending the approval of a mining license for Claim Bock 858.034/2001. The Company has five years to work on Claim Block 858.037/2007 before it must submit an application for a mining license, providing further potential for exploration upside at Cupixi. About International Gold Resources: The vision of International Gold Resources, Inc. is to become recognized as one of the premier early stage mineral exploration companies in the world. This news release contains �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. Such forward-looking statements include statements that relate to the Company�s mining exploration results, government mining permit approvals, estimates of tonnes of manganese ore on the Company�s properties, the sufficiency of soil sampling, trenching and auguring to estimate tones of manganese ore, and the intention and ability to conduct additional drilling and feasibility work on the Company�s properties. Factors that could cause actual results to differ materially from these forward-looking statements include, among others: the uncertainty of operating in foreign countries; the volatility of mineral prices; potential operating risks of mining, development, and exploration; the uncertainty of estimates of mineralized material and deposits; environmental and governmental proceedings, regulations, and permits, including the mining license approval process and outcome; changes in applicable laws, regulations, or legal requirements pertaining to the Cupixi Project, the Company, and/or its affiliates; availability of financing; force majeure events; and other risk factors as described from time to time in the Company�s filings with the Securities and Exchange Commission. These factors are often beyond the Company�s ability to control or predict.