To: bigbuk who wrote (123051 ) 11/19/2003 11:36:07 AM From: StocksDATsoar Respond to of 150070 Stockwatch News Item International Wayside Gold Mines Ltd (C-IWA) - News Release Int'l Wayside to raise $2-million; Bonanza results International Wayside Gold Mines Ltd IWA Shares issued 78,440,811 Nov 14 2003 close $ 0.14 Monday November 17 2003 News Release Mr. J. Frank Callaghan reports 2 MILLION DOLLAR BROKERED PRIVATE PLACEMENT BONANZA LEDGE MINE & DRILL RESULTS AND MYRTLE EXPLORATION DEVELOPMENTS International Wayside Gold Mines has entered into an engagement letter with First Associates Investments Inc., whereby First Associates will act as agent for the sale of a private placement of up to 13.5 million units at the price of 15 cents per unit. Each unit shall consist of one flow-through common share and one-half of one non-flow-through common share purchase warrant. Each whole warrant will entitle the holder to purchase an additional non-flow-through common share at the exercise price of 25 cents per share for a period of 18 months from the closing of the offering. For acting as agent, First Associates will receive a commission equal to 7 per cent of the gross proceeds raised in the offering and will be granted non-transferable options entitling First Associates to purchase that number of units equal to 15 per cent of the number of capitalized units sold in the offering at 15 cents per unit for a period of 18 months from closing. The units subject to the agent's compensation options will have identical terms to the units sold under the offering, except that they will be non-flow-through units. The proceeds from this offering of up to $2,025,000 will be used by the company for continuing exploration and development of its Cariboo gold project at Wells, in central British Columbia. In particular additional drilling on Bonanza Ledge zone in preparation for the 70,000-tonne bulk sample which will follow the 10,000-tonne bulk sample in progress. Resume drilling on the BC Vein to extend the strike length beyond 4,100 feet. In addition, drilling will resume underground on Cow Mountain in an effort to increase both the resource and reserve in the mine models reported by Giroux Consultants Ltd. and DJP Consulting, qualified persons as required under National Instrument 43-101, and commence a feasibility study. The 10,000-tonne bulk sample on the Bonanza Ledge zone under the direction of Michael Hibbitts, PGeo, the qualified person as required under National Instrument 43-101, is proceeding with a total of 45 metres (147 feet) of decline development completed. Recent assays returned from BC03-23, an infill drill hole within the ore zone, graded 49.5 grams per tonne Au (1.44 ounces per ton Au) over 22 feet. Drilling has commenced on the Myrtle zone with two drills operating 24 hours a day. The initial diamond drill holes will be testing the Ethel showing, a shear-hosted quartz vein zone. Four samples (162802-162805) to date taken from a trench in the Ethyl zone, returned values of >100 grams per tonne Au (>2.9 ounces per ton Au), 2.8 grams per tonne Au (0.08 ounce per ton Au), 54.9 grams per tonne Au (1.6 ounces per ton Au) and 19.1 grams per tonne Au (0.5 ounce per ton Au) respectively. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com