INTERNATIONAL GOLDFIELDS LIMITED - ASX RELEASE ASX announcement 17 December 2010 INTERNATIONAL GOLDFIELDS EXPLORATION UPDATE -- PLUMRIDGE GOLD PROJECT Highlights: - Recently completed drilling programs at the Plumridge Gold project continue to discover gold mineralisation in this exciting, new mineralised region. - Additional 6 priority targets with ranges between 500m to 1,000m strike lengths within the Corvette Gold Anomaly remain untested in the bedrock profile. - Drilling program planned to continue targeting high-priority prospects within the large "Corvette Gold Anomaly" in 2011. International Goldfields Limited (ASX: IGS) ("IGS" or "the Company") is pleased to provide this update for the recently completed drilling programs at the Plumridge Gold project.

The Company has undertaken a reverse circulation drilling program and a regional aircore drilling program targeting the "Corvette Gold Anomaly" hosted within the 2,300km2, 100% owned Plumridge Project, located just 60km to the south of the 5Moz Tropicana-Havana deposit (Figure 1). Reverse Circulation Drilling Reverse circulation (RC) drilling was focused on three priority prospects within the 9km x 3km Corvette Gold Anomaly -- the Stingray prospect, Stingray East and the newly defined eastern anomaly highlighted by the gold mineralised intersection in drill hole CVRC174 of 6m at 5.13g/t gold and 2m at 5.75g/t gold (refer ASX announcement 22/7/2010).

The program totalled 45 drill holes for 7,896m with final 1m assay results recently returned that include mineralised intersections: - 2m at 3.34g/t gold from 88m - CVRC202 (Previously reported as 3m composite: 3m at 1.25g/t gold from 87m September Quarterly report), - 1m at 5.96g/t gold from 125m, - 1m at 7.12g/t gold from 138m -- CVRC215, and - 1m at 2.85g/t gold from 137m -- CVRC198. This drilling program has confirmed the presence of widespread bedrock gold mineralisation at Plumridge, however no economic intersections have www.intgold.com.au been returned for this campaign.

A compilation of recent results and analysis of the project geology is ongoing and will guide the targeting of additional RC drilling.

The focus of future drilling programs will be to define continuity of mineralised zones and will be targeted on areas where drilling has confirmed the presence of high-grade gold mineralisation associated with the Corvette Gold anomaly (Figure 2, Table 1). A compilation integrating new datasets of the Corvette Gold Anomaly has highlighted an additional 6 priority targets with greater than 500m to 1,000m strike lengths within the Corvette Gold Anomaly that are untested in the bedrock profile. Aircore Drilling IGS has completed an additional campaign of aircore drilling, totalling 115 drill holes for 4,926m focused on follow-up and definition of gold anomalous zones intersected in previous wide-spaced reconnaissance drilling.

This program has successfully defined additional high-priority targets within the Corvette Gold Anomaly and analysis of the multi-element geochemistry is highlighting continuity in both gold and pathfinder elements such as bismuth (Bi) and tellurium (Te) for several key targets. These additional targets are included in the priority targets selected for future RC drilling programs (Figure 2, Table 2). Final results have been received for the aircore drilling with intersections including: - 3m at 1.75g/t gold from 36m - PLAC2036, - 24m at 0.31g/t gold from 21m -- PLAC2111, - 9m at 0.55g/t gold from 36m -- PLAC2113 end of hole mineralisation, - 7m at 0.24g/t gold from 45m -- PLAC2091, and - 3m at 0.85g/t gold from 51m -- PLAC2078. Review of the recent aircore results continues to improve the geological understanding of the Plumridge Project and is defining new targets away from the Corvette Gold Anomaly that has been the focus of drilling to date. A program of wide-spaced regional aircore drilling has been planned to target additional geological and geochemical anomalies to assess for potential economic mineralisation. "The Plumridge Project is ideally located in part of the most exciting gold region in Western Australia with the AngloGold Ashanti/Independence Group Tropicana Joint Venture confirming the development of the 5Moz Tropicana Gold Project and the recent announcement by Beadell Resources highlighting the opportunity for additional discoveries to be made through exploration" International Goldfields Limited Managing Director Mr Jason Bontempo commented.

"The Plumridge Project is at an early stage of exploration with activities to date focussed on the Corvette Gold Anomaly, however our recent work is demonstrating additional high-priority targets that will be tested in the coming year" Mr Bontempo added. "These recent drilling results continue to tantalise with the widespread gold anomalism and the definition of additional priority drilling targets. IGS is planning drilling campaigns in 2011 with a combination of regional aircore drilling and RC drilling to test the high-priority regions for economic gold mineralisation" Mr Bontempo continued. To view the announcement in full please click here. http://esp.gewru.com/download/files/12414/1291910/Exploration%20Update%20-%20Plumridge%20Gold%20Project.pdf For further information: Internatinal Goldfields Jason Bontempo Tel: +61 8 9380 9555 International Goldfields Bernard Aylward Tel: +61 8 9211 0600 David Tasker Professional Public Relations Tel: +61 8 9388 0944
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