WYG International Wayside Gold Mines New Com Npv

International Wayside Gold Mines Ltd. ("Wayside", the "Company") (TSX
VENTURE:WYG)(FRANKFURT:IWUB) announces that further to the news release of
February 4, 2009, whereby the Company would acquire the QR Mine and Mill from
Cross Lake Minerals Ltd. (now 0373849 BC Ltd.) ("Cross Lake") in exchange for
Wayside's tax loss pool in a Court Ordered Plan of Arrangement, the Company has
now entered into a revised term sheet in order to retain the tax losses for
Wayside. The Company will also enter into a definitive Acquisition Agreement,
Mining Contract and Environmental Indemnity Agreement.


J. Frank Callaghan, President and CEO of Wayside, stated, "We are very pleased
to have revised the terms of the acquisition of the QR Mine and Mill in order to
retain our tax losses. Under these revised terms and upon the commencement of
mining operations, the Company will have the ability to utilize the accumulated
tax loss pools of approximately $25 million for the financial benefit of the
Company and its shareholders. In addition, the Board of Directors is pleased to
have Cross Lake's equity participation in the Company and Procon Mining and
Tunnelling Ltd. ("Procon")'s expertise in the operation of our mines."


The Company renegotiated its transaction with Cross Lake whereby the Company
will purchase the subsidiary company of Cross Lake holding the QR Mine and Mill
to acquire all of the QR assets by issuing Company stock. The Company will now
purchase the "QR Mine and Mill" for the issuance of 2,000,000 shares and 500,000
share purchase warrants. Each warrant will be exercisable into one additional
common share at a price of $1.00 per common share for a period of two years.


The Mining Contract will provide that Procon or its nominee will be responsible
for and will undertake the mining activities in respect to the QR Mine and Mill
and Wayside's other properties including the Cariboo Gold Project. This Contract
provides that Procon shall be the Contractor of the QR Mine and Mill and any
other mining project developed by Wayside.


In consideration of the services to be provided by Procon under the Mining
Contract, Wayside shall pay to Procon an amount equal to all costs incurred by
Procon, plus a mark up of 15% (the "Margin"). The Mining Contract will continue
in effect for an initial term ending upon completion of $37,500,000 in earned
margin after the date of Closing and is subject to earlier termination for a fee
or extension upon agreement by both Wayside and Procon.


The Acquisition is scheduled to close on February 1, 2010 and is subject to
entering into definitive agreements including the Acquisition Agreement, Mining
Contract and Environmental Indemnity Agreement and is subject to the approval of
the TSX Venture Exchange.


The Company will continue with the previously announced private placement of
units and subscription receipts as proceeds of the subscription receipts will be
held in trust pending the completion of the Acquisition.


About International Wayside Gold Mines

The Company 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 commenced 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

This news release contains forward-looking statements regarding the timing and
content of upcoming programs. Actual results may differ materially from those
currently anticipated in such statements.

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