Ikona announces commercialization phase with Magna Advanced Technologies

VANCOUVER, Sept. 20 -- Ikona Gear International, Inc. (OTC BB: IKGI and FSE: IG2) ("Ikona"), an innovator and developer of a proprietary patented gearing technology is pleased to announce that Magna Advanced Technologies ("MAT"), a division of Magna International Inc., will be proceeding over the next 12 months to approach customers about Ikona's gearing technology in the automotive sector, in order to gauge interest in the product.

Over the next 12 months MAT and Ikona will proceed to develop prototypes for these applications and demonstrate these prototypes to divisions of Magna International Inc. ("Magna") and to Magna's OEM and partner network. Some prototypes have been developed and demonstrations will commence immediately, other prototypes are currently in design phase and will be prototyped, tested and demonstrated as completed. Ikona has agreed to wave the mandatory lump sum C$1 million royalty in favor of MAT and Ikona negotiating financial and royalty details on a sector by sector basis dependent on the relative strengths of the engineering solutions and the strength of commercial demand for them. Also, as Ikona has transferred its core competency in the Ikona gearing technology to MAT's engineers, Ikona will be shifting its engineers to other non-automotive applications and will wave the requirement for Magna to pay C$20,000 monthly engineering fees as entertained in the original phase 1 agreement between Ikona and MAT.

Paul Gingl, group manager of MAT stated: "Over the past 16 months MAT has conducted extensive prototyping and testing of Ikona's gearing technology in our Canadian and Austrian facilities, that generated some positive results. Therefore we have concluded that it would be advantageous for MAT to approach customers regarding specified OEM product initiatives in certain target markets over the next 12 months. We look forward to furthering our relationship with Ikona."

Laith Nosh commented, "We are very thankful for the thorough testing and due diligence from MAT and for the ongoing support and belief they have shown in our technology over the past 16 months. We could not hope for a better partner to commercialize our gearing technology in the automotive industry. We look forward to focusing our engineers on other opportunities which leverage our unique gearing technology including: robotics, alternative energy sources, industrial gearboxes, winches and cranes, aircraft and military industries.

About Ikona Gear

Ikona's patented intellectual property involves a unique gear tooth form that provides very high gear reduction, very high gear tooth contact, and rolling rather than sliding contact between gear teeth. Our technology affords significant advantages over traditional planetary gearing systems including: very high torque, size and weight reductions, zero backlash, accurate back-and- forth actuation, low wear, superior efficiency, and low noise. Ikona is traded over the counter on the NASD Bulletin Board, under the symbol "IKGI", and on the Frankfurt Exchange under the symbol "IG2".

  For additional information, Contact:
  On Behalf of the Board

  Ikona Gear International, Inc.

  "Laith Nosh"
  Laith I. Nosh, President and CEO

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Mr. Dal Brynelsen, Tel: 604-523-5500, Fax: 604-520-5965, Address 1850 Hartley Avenue, Unit 1, Coquitlam, BC, V3K 7A1, Email: dbrynelsen@ikonagear.com; Website: www.ikonagear.com