The Board of Directors of International Wayside Gold Mines Ltd. (the "Company") announces that a letter of agreement was signed today with Gold City Industries Ltd. ("Gold City") to form a joint venture on the Myrtle-Prosperine claims, located adjacent to the Cariboo Gold Project at Wells, B.C.

Under the terms of the agreement the company will aquire a 75% direct interest in the Myrtle-Prosperine claims, which Gold City holds under an option agreement with Newmont Exploration of Canada Limited ("Newmont"). In exchange the company will assume cash payments and work commitments amounting to $140,000 under the option agreement with Newmont and will deliver 100,000 free-trading common shares of the Company to Gold City.

During the 1940's Newmont drove an adit from Barkerville Historic Town to connect with the BC Shaft and the adit is approximately 400 feet short of making the connection. The Myrtle property is adjacent to where the company is currently drilling on the BC Vein.

J. Frank Callaghan
President

The Canadian Venture Exchange (CDNX) has neither approved or disapproved of the information contained herein