CROSS LAKE MINERAL (ZBLFF)

[NYBob]

International Wayside Gold Mines Ltd.: Corporate Update on Proposed QR Mine & Mill Acquisition
VANCOUVER, BRITISH COLUMBIA, Jun 03, 2009
(MARKETWIRE via COMTEX) --

International Wayside Gold Mines Ltd.
("Wayside") (TSX VENTURE: WYG)(FRANKFURT: IWUB) is pleased
to announce on June 1, 2009, Cross Lake Minerals Ltd.
("Cross Lake") completed the closing conditions of the plan
of compromise and arrangement (the "Plan"), including
obtaining final BC Supreme Court approval, thus allowing
Wayside to proceed to enter into an agreement
("the Agreement") first announced on February 04, 2009 and
updated April 9, 2009 whereby Wayside will purchase
the QR Mine and Mill.
Completion of the Agreement is subject to the satisfaction
of a number of conditions including, but not limited to,
completion of due diligence and obtaining the necessary
shareholder, regulatory and Court approvals.
The 900 tonne per day QR Mill, which was fully operational
until February 2009 (now on care and maintenance),
is a CIP mill designed for an output of 70,000 ounces of gold
per annum for that location.
The mill is located 110 km by road from Wayside's Cariboo
Gold Project and proposed Bonanza Ledge Mine.
Following a positive feasibility study in 1994,
Kinross Gold Corp. constructed the QR Mill with capital costs
estimated at over $40 million.

Cross Lake commenced operations at the QR Mine in 2007 after
spending over $34 million in the preceding 24 months on
project acquisition ($4.3 million),
exploration & development ($20 million)
and refurbishing the mill facilities ($10.3 million).

Cross Lake expended an additional $3 million
on asset retirement obligations,
including having BC Hydro bring three phase power
to the project.

It is Wayside's objective to process material from its
proposed Bonanza Ledge Mine
(subject to receipt of all necessary permits) at
the QR Mill, in addition to recommencing operations
at the QR Mine.

The Company initiated operations in the Cariboo District
in 1994 and since that time has focused on
the exploration and development of its gold properties.
Mineral tenures in the Historic Cariboo Goldfields encompass
approximately 1,065 square km (106,484 hectares) over a
60 km long by 20 km wide belt.
In the 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 BEHALF OF THE BOARD OF DIRECTORS

J. Frank Callaghan, President and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

Contacts:
International Wayside Gold Mines Ltd.
Andrew H. Rees
Director
604-669-6463 or Toll Free: 1-800-663-9688
604-669-3041 (FAX)
http://www.wayside-gold.com

SOURCE: International Wayside Gold Mines Ltd.

CONTACT:
http://www.wayside-gold.com

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