KELOWNA, BRITISH COLUMBIA--(Marketwire - March 3, 2011) - IGC Resources Inc. ("IGC" or the "Company") (News - Market indicators) is pleased to announce that 4 million shares of Atomic Resources Limited (ASX:ATQ) ("Atomic") were sold for AU$1,800,000 (CAD$1,780,000). The company continues to own 2.850 million ordinary shares and 7.250 million options of "Atomic" (ASX:ATQO).

About IGC Resources Inc.:

IGC's principal business activities are the exploration and development of its gold, copper, uranium and coal projects while continuing to investigate other mineral resource prospects for potential acquisition globally. www.igcresources.com

Statements in this release may constitute forward-looking statements which involve known and unknown inherent risks and uncertainties that are detailed in IGC's periodic filings with Canadian securities regulators. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Actual events or results could differ materially from IGC's expectations and projections.