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VANGOLD RESOURCES LTD.
TSX-V:VAN
NEWS
RELEASE
JANINA RESOURCES LIMITED COMPLETES REVERSE
TAKE-OVER, NAME CHANGE AND AMALGAMATION WITH HORN RARE METALS
LTD.
VANCOUVER, B.C., November
27, 2007, Vangold Resources Ltd. (TSXV:VAN) (?Vangold?) ? Anthony G.
Dutton, Chief Executive Officer and director of Janina Resources Limited (?Janina?) and Dal Brynelsen, President of Horn Rare Metals Ltd. (?Horn?) and
President and CEO of Vangold, are pleased to announce the successful completion
of the amalgamation, reverse take-over and name change of Janina Resources Ltd.
to International Beryllium Corporation.
Janina will begin trading under its new name
"International Beryllium Corporation" (?IBC?) and its new trading symbol ?IB?
effective November 28, 2007. On
July 27, 2007 Janina closed a private placement of subscription receipts of its
wholly owned subsidiary. Effective
November 23, 2007 the subscription receipts have been automatically converted
into units of IBC without any further action on the part of the
subscribers. The subscription
receipts have been automatically cancelled and the net subscription proceeds
plus interest earned thereon have been released by the Escrow Agent to IBC. Each unit is comprised of one common
share of IBC and one-half of one share purchase warrant. Each whole share purchase warrant will
be exercisable into an additional common share of IBC on or before November 23,
2009 at a price of $0.75 each. The
gross proceeds received by IBC from the subscription receipts financing was
$10,055,000. Bolder Investment
Partners, Ltd. acted as agent for part of the financing and in connection
therewith was paid $80,000 from the gross proceeds of the subscription receipt
financing
Pursuant to the amalgamation Janina?s wholly owned
subsidiary amalgamated with Horn Rare Metals, Ltd., formerly a 51% owned subsidiary of Vangold, to form International Beryllium Holdings Ltd. As part of the amalgamation, Firebird
Global Master Fund Ltd., (?Firebird?) a former shareholder of Horn, received
24,390,244 common shares of IBC in exchange for its Horn common shares and
Vangold received 25,609,756 common shares of IBC in exchange for its Horn common
shares. Consequently, upon
completion of the amalgamation, Firebird holds directly 28.16% of the issued and
outstanding shares of IBC and Vangold holds 29.57% of the 86,601494 outstanding
shares of IBC.
Vangold?s shares were acquired for investment purposes
and are held in escrow as described in the Filing Statement of IBC filed in
connection with the transaction. While Vangold does not intend to acquire further securities of IBC, it
may in the future acquire or dispose of securities of IBC, through the market or
otherwise, as circumstances or market conditions
warrant.
The objective of International Beryllium Corporation is
to become a premier vertically integrated global beryllium and beryllium alloys
processing and distribution company serving the major beryllium using
industries.
To find out more about Vangold Resources Ltd. please
visit our website or contact Dal Brynelsen at 604-684-1974 or by email brynelsen@vangold.ca or visit our website at www.vangold.ca
..
On Behalf of the Board of
VANGOLD
RESOURCES LTD.
?Dal
Brynelsen?
Dal Brynelsen, President and
CEO
The TSX Venture Exchange has not reviewed and does not
accept responsibility
for the adequacy or
accuracy of the content of this news release.