WYG International Wayside Gold Mines New Com Npv

International Wayside Gold Mines Ltd (the "Company") (TSX VENTURE: WYG)(FRANKFURT: IWUB), announces that it has received a Preliminary Feasibility Study ("PFS") including an updated NI 43-101 compliant resource estimate, on the Bonanza Ledge Gold Project, B.C. Canada. The Base Case economics at $750 per ounce gold show a pre-tax Internal Rate of Return of 44% and a pre-tax cash flow of US$6.7 million. The payback period for the initial capital of US$3.6 million is approximately 2.5 years. The open pit operation will mine ore at a rate of 220 tons (200 tonnes) per day and is expected to produce an average of 20,000 ounces of gold per year by batch tolling milling at a nearby CIP plant for an estimated mine life of 4 years.

Project Economics & Metal Price Sensitivities

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                                                   Pre-Tax NPV  Pre-Tax NPV
                  Average Pre-Tax Cash                     @ 5%         @ 8%
Economic       Gold Price         Flow Pre-Tax IRR    Discount     Discount
Case                 (US$)        (US$)          %        (US$)        (US$)
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Low                   650      742,344         6.3     131,501     (164,400)
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Base                  750    6,698,638        43.8   5,060,800    4,262,079
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Moderate              850   13,364,446        77.7  10,509,332    9,124,933
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Moderate-High         950   20,497,198       111.8  16,319,433   14,299,970
(Current Price)
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High                 1050   27,755,213       140.4  22,207,927   19,527,628
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Metal prices for the Base Case were established by EBA Engineering Consultants Ltd. ("EBA") and assume $750 per ounce of gold for the life of mine. The Company has also run project sensitivity analyses using variations of capital and operating costs as well as metal recoveries. These analyses indicate that the project is relatively insensitive to capital costs but more sensitive to operating costs, metal recoveries and pricing. Other defining parameters of the study are:

- The strip ratio for this reserve is estimated at an average of 18:1 over a mine life of 4 years. The first year has an average strip ratio of 33:1 including pre-stripping. An optimized Phase I starter pit can reduce the first years strip ratio to 12:1.

- Average predicted mill recoveries are 93% for gold.

- Overall pit slopes are estimated at 37 degrees.

Capital & Operating Costs

- Initial capital costs are estimated at US$3.6 million, including a 15% contingency and, working capital of US$130 thousand. Sustaining capital costs are estimated at US$260 thousand over the 4 years mine life.

- Cash operating costs for life of mine are approximately US$509 per ounce of gold.

The study has taken 14 months to complete and has involved the focused efforts of a team of independent qualified persons, professionals and consulting companies that included EBA (Overall Report), F. Wright Consulting Inc. (Metallurgy), and Mintec (Resources and Reserves).

Proven and Probable Reserves (August 31, 2009)

                       Bonanza Ledge Mineral Reserves
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Reserve           Metric         Au        Short       Au    Contained Gold
Category(1)       Tonnes        gpt         Tons      opt          Ounces(2)
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Proven           130,726      10.23      144,099    0.298            42,900
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Probable         166,810       8.11      183,875    0.237            43,500
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(1) Conforms to NI 43-101, 43101CP and current CIM definitions for
    resources. All numbers are rounded.
(2) Cutoff grade is 2.44 gpt Au. These reserves are diluted and mine
    recoverable.

The following resource table shows the Measured, Indicated and Inferred Mineral Resources that include the Mineral Reserves and are based on 230 drill holes.

Measured, Indicated and Inferred Mineral Resources (August 31, 2009)

                      Bonanza Ledge Mineral Resources
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Reserve           Metric         Au        Short       Au    Contained Gold
Category(1)       Tonnes        gpt         Tons      opt          Ounces(2)
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Measured         234,677       6.69      258,685    0.195            50,392
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Indicated        334,433       5.31      368,645    0.155            57,140
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Inferred         373,123       6.10      411,293    0.178            73,087
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(1) Conforms to NI 43-101, 43101CP and current CIM definitions for
    resources. All numbers are rounded.
(2) Cutoff grade is 0.69 gpt Au.

EBA including N. Eric Fier, CPG, P.Eng., Lara Reggin, P.Geo., Scott Martin, P.Eng.; F Wright Consulting including Frank Wright P.Eng.; and Mintec including Abdullah Arik, AusIMM are the Independent Qualified Persons for this news release and have reviewed and approved its contents. An NI 43-101 Technical Report detailing the results of the PFS and increased resources will be filed on SEDAR within 45 days of this release.

J Frank Callaghan, President and CEO of the Company stated, "We are pleased to have completed and received the PFS and updated NI43-101 resource on the Bonanza Ledge Gold Project and are excited with the results. The Company continues to take positive steps towards our stated goal of project development in Q4 2009 pending receipt of required operating permits. Existing resources combined with the exploration upside on the Company's projects, cast a bright light leading us forward".

      International Wayside Gold Mines Ltd. Resources 0.69 gpt Cutoff
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                                                    Contained
                                           Grade         Gold
Area            Category(1)     Tonnes      (g/t)    Ounces(2)  Prepared by
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Cariboo         Indicated    6,013,000      2.23      430,885
Gold            ---------------------------------------------   Giroux 2006
Quartz          Inferred     1,527,000      1.85       90,936
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                Measured       234,677      6.69       50,392
                ---------------------------------------------
Bonanza Ledge   Indicated      334,433      5.31       57,140   Mintec 2009
                ---------------------------------------------
                Inferred       373,123      6.10       73,087
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                Indicated      296,000      5.31       50,600
BC Vein         ---------------------------------------------   Giroux 2002
                Inferred       291,000      2.40       22,400
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(1) Conforms to NI 43-101, 43101CP and current CIM definitions for
    resources. All numbers are rounded.
(2) Cutoff grade is 0.69 gpt Au.

About International Wayside Gold Mines

International Wayside Gold Mines has been developing its Cariboo Gold Project in Barkerville, B.C., which encompasses (from northwest to south east) the former producing Hardscrabble Tungsten Mine, Mosquito Creek Gold Mine (now on care and maintenance), Aurum Mine, Island Mountain Mine, Cariboo Gold Quartz Mine, Bonanza Ledge (proposed mine), the Cariboo Thompson Gold & Silver Mine and the Cariboo Hudson Mine.

The Company has also entered into a letter of intent with 0373849 B.C. Ltd. (formerly Cross Lake Minerals Ltd.) ("Cross Lake") pursuant to which the Company will purchase a subsidiary of Cross Lake holding all of Cross Lake's interest in the QR Mine and Mill (the "Sale Transaction"). Concurrently with the completion of the Sale Transaction, the Company will enter into a Spin-off Transaction to transfer all of its properties, including the QR Mine and Mill, Cariboo Gold Project, and its assets, liabilities and obligations, to Barkerville Gold Mines Ltd. ("Barkerville"), a wholly-owned subsidiary of the Company, in exchange for shares of Barkerville (the "Barkerville Shares") and will then distribute the Barkerville Shares to the shareholders of the Company on the basis of one Barkerville Share for each share of Wayside. The Sale Transaction and Spin-Off Transaction (together, the "Transactions") will be structured as a Plan of Arrangement involving the Company, its security holders, Cross Lake and Barkerville pursuant to the provisions of the B.C. Business Corporations Act. The final terms of the Transactions will be modified to the extent necessary to give effect to tax and legal advice to be sought by the parties.

Barkerville will make an application to list its shares on the TSX Venture Exchange (the "TSXV"). This transaction is subject to meeting the usual listing requirements of the TSXV, which will include having the necessary funds to meet the obligations of operating the QR Mine and Mill, conduct recommended work programs on its Cariboo Gold exploration projects, satisfy the necessary general and administrative expenses and having unallocated working capital.

Completion under the Plan of Arrangement will also be subject to obtaining the necessary shareholder, regulatory and court approvals.

This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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) www.wayside-gold.com