Company Information for Independence Group NL

ASX-IGO

www.igo.com.au

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ASX; IGO

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Company Statement

Independence Group NL is focused on creating shareholder wealth through the discovery of large high-grade gold or base metal deposits.

The Company has identified and acquired an interest, or right to earn an interest, in numerous prospective projects.

In September 2002 the Company acquired the Long Nickel Mine, and became a nickel producer in October 2002. This operation is providing a substantial cash flow to the Company, which enables Independence to invest in exploration as well as provide funding for future growth.

Current Operations

Long Nickel Mine
Independence Group's wholly owned subsidiary Lightning Nickel Pty Ltd ("Lightning"), acquired the Long Nickel Mine and the lease of related infrastructure and equipment from WMC Resources Ltd for $15 million in September 2002. The mine was successfully commissioned in October 2002.

The mine is located at Kambalda in Western Australia. The mine provides a healthy cash flow to the Company and has significant upside for further mine life extensions.

Historic production from the Long Nickel Mine represents the second largest concentration of nickel in the Kambalda region, and qualified as one of WMC's longest operating nickel mines with a 21 year mine life. Total production to closure in 1999 was 5.43 million tonnes at an average reconciled grade of 3.7% per cent nickel (203,184 nickel tonnes).

Since IGO recommissioned the mine in 2002, exploration and development activities have resulted in the discovery of an additional 5.5 years of reserves increasing current mine life to at least 2011, based on reserves only at 30 June 2007, at a production rate of approximately 9,000 tonnes of nickel per annum.

The McLeay nickel deposit was discovered in 2005 and at 30 June 2007 had a resource of 28,600 nickel tonnes and is still open to the south. Further exploration success at McLeay, Long South and Long North, has the potential to significantly increase mine life.

Offtake Agreement
The Company has an agreement with WMC (now BHP Billiton Nickel West Pty Ltd) whereby the ore produced from the mine is delivered to the adjacent Nickel West Kambalda Nickel Operations Concentrator for toll treatment and production of nickel concentrates, which are then sold to BHP on terms set out in that agreement. The agreement expires on 27 February 2019.

Exploration
The Company has identified and acquired an interest, or right to earn an interest in, several prospective projects, via strategic joint ventures and the direct acquisition of tenements. These projects are:

Nickel
Duketon Joint Venture
Wiluna Joint Venture (OZ Minerals)
Ravensthorpe Joint Venture
Lefroy Joint Venture
Musgrave Joint Venture (BHP Billiton)
Mt Isdell Joint Venture (Teck Cominco)

Gold
Tropicana Joint Venture (AngloGold Ashanti)
Karlawinda
Coomberdale
Holleton
Cobar
Empress Springs

Tropicana Joint Venture
The Company has a 30% interest in the Tropicana Joint Venture, managed by AngloGold Ashanti. The JV announced a JORC compliant resource of over 4 million ounces of gold during 2007. A Pre-feasibility Study is in progress which will include significant infill drilling and extensional drilling results received since August 2007 which are not yet incorporated into the JORC compliant resource.

Geographical Spread

Exploration and mining is in Australia, predominantly in Western Australia.

Board of Directors and Key Management

Rod Marston, B.Sc. (Hons), Ph.D., MAIG, MSEG, Non-executive Chairman

Dr Marston is a geologist with over 35 years experience in the mineral exploration and mining industry, both in Australia and internationally. He has held senior positions with the Geological Survey of Western Australia and numerous mineral resource consulting groups, who have provided their services to major Australian mining houses such as WMC and BHP Limited. He compiled landmark mineral resource bulletins on copper and nickel mineralisation in Western Australia when with the Geological Survey. Dr Marston played a key role in the discovery, development and management of the multi-million ounce Damang Gold Mine in Ghana, West Africa. Dr Marston was a director of Ranger Minerals Ltd prior to that company's merger with Perilya Limited.

Christopher Bonwick, B.Sc. (Hons), MAusIMM, Managing Director

Mr Bonwick is a geologist with over 20 years experience in the mineral exploration and mining industry, particularly in the areas of Australian gold and nickel exploration. He has a proven track record of successful mineral exploration and team management. Mr Bonwick was employed by mining house WMC for ten years as an open-cut and underground mine geologist, and senior supervising geologist at WMC's Kalgoorlie Exploration Division. In 1991, he moved to Samantha Gold NL where he was employed as Chief Geologist. Mr Bonwick accepted a position at Resolute Limited as Chief Geologist in 1994. Mr Bonwick has led numerous teams that have successfully made virgin gold discoveries, including the Chalice (which returned $100 million profit in just over three years and won "Diggers and Dealer's Discovery of the Year" in 1994), Redeemer and Indee deposits, as well as near-mine gold discoveries in Australia (Hill 50 satellites and Marymia satellites) and Africa.

Kelly Ross, CPA, ACIS, Executive Director

Kelly Ross is an accountant with over 20 years experience in the mineral exploration and mining industry. Ms Ross was with the Resolute group from 1987 to 2000, during which time Resolute grew from a small exploration company to a major gold producer. Ms Ross has held positions with National Resources Exploration Pty Ltd, the Kimseed Group, Murchison United NL and the Department of Mineral & Petroleum Resources. Ms Ross is also the Company Secretary of Independence Group NL

John Christie , CPA, ACIS, Non-executive Director

Mr Christie is an accountant by profession with experience primarily in the resource and construction industries. He spent 16 years with Anaconda Australia Inc, including seven years as Vice President and Treasurer. Mr Christie has previously held board positions with Ranger Minerals Ltd and General Minerals Corporation. Mr Christie was Company Secretary and CFO of Ranger Minerals Ltd from 1984 to 2002.

Oscar Aamodt ,FCIS, Non-executive Director

Oscar Aamodt is a fellow of the Institute of Chartered Secretaries and has more than 20 years experience in the administration and management of mining and exploration listed companies in Australia and overseas. He has held a number of directorships in Australian mining companies as well as having held the positions of Chief Financial Officer and Chief Operating Officer with Resolute Limited, a company that at the time had operations in Australia and Africa. He has had extensive involvement in project development team work, project financing as well as corporate activities. From February 2002 until May 2003 he was a Director and Company Secretary of Abelle Limited and most recently Company Secretary of Bluestone Tin Limited and Metals Exploration Limited. Mr Aamodt is also currently a director of ASX listed company Energy Metals Limited.

Company Address

Level 3 PDM House
72 Melville Parade
South Perth, Western Australia, Australia


Telephone:	+61 8 9367 2755
Facsimile:	+61 8 9367 3288
Email:	contact[at]igo.com.au
Website:	http://www.igo.com.au

Additional Address/Key Contact

Postal Address
PO Box 893
South Perth
Western Australia 6951

Capital

116,851,667 as at 11 June 2008

Annual General Meeting

19 November

Year End

30 June

Major Shareholders

National Nominees Limited	16.19%
HSBC Custodian Nominees (Australia) Limited	13.57%
JP Morgan Nominees Australia Limited	8.96%
Citicorp Nominees Pty Limited	7.05%
ANZ Nominees Limited	4.28%

Most Recent Statement

16/12/08 - LEG: Legend acquires shares in Independence Group
05/12/08 - Appendix 3Y - Change Director Interests
26/11/08 - STB: Duketon Nickel JV Follow Up Drilling to Commence
24/11/08 - Appendix 3F End Share Buy-Back
19/11/08 - Appendix 3Y - Change Director Interests
15/10/08 - Tropicana - High Grade Rock Chips

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