EXHIBIT 99.2
 
                         NOTICE OF GUARANTEED DELIVERY
 
    This form or one substantially equivalent hereto must be used to accept the
Exchange Offer of ISG Resources, Inc. (formerly JTM Industries, Inc.) (the
"Company") made pursuant to the Prospectus, dated June   , 1998 (the
"Prospectus"), if certificates for Restricted Notes of the Company are not
immediately available or if the procedure for book-entry transfer cannot be
completed on a timely basis or time will not permit all required documents to
reach the Company prior to 5:00 p.m., New York City time, on the Expiration Date
of the Exchange Offer. This form may be delivered or transmitted by facsimile
transmission, mail, or hand delivery to U.S. Bank National Association (the
"Exchange Agent") as set forth below. In addition, in order to utilize the
guaranteed delivery procedure to tender Restricted Notes pursuant to the
Exchange Offer, a completed, signed and dated Letter of Transmittal (or
facsimile thereof) must also be received by the Exchange Agent prior to 5:00
p.m., New York City time, on the Expiration Date. Capitalized terms used but not
defined herein have the meanings given to them in the Prospectus.
 
          DELIVERY TO: U.S. BANK NATIONAL ASSOCIATION, EXCHANGE AGENT
 
             BY MAIL OR OVERNIGHT COURIER OR HAND:
 
             U.S. Bank National Association
                             107 South Main Street, Suite 303
                             Salt Lake City, Utah 84111
                             Attention: Kim Galbraith
                             Telephone:(801)534-6208
                             By Facsimile: (801) 534-6208
 
          (Originals of all documents sent by facsimile should be sent
   promptly by registered or certified mail, by hand or by overnight courier)
 
    DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE, OR
TRANSMISSION OF INSTRUCTIONS VIA FACSIMILE OTHER THAN AS SET FORTH ABOVE, WILL
NOT CONSTITUTE A VALID DELIVERY.
 
Ladies and Gentlemen:
 
    Upon the terms and conditions set forth in the Prospectus and the
accompanying Letter of Transmittal, the undersigned hereby tenders to the
Company the principal amount of Restricted Notes set forth below, pursuant to
the guaranteed delivery procedure described in "The Exchange Offer--Guaranteed
Delivery Procedures" section of the Prospectus.
 
Principal Amount of Outstanding Notes Tendered:*
$_______________________________________________________________________________
 
                                               If Restricted Notes will be
                                               delivered by
 
                                               book-entry transfer to the
                                               Depository Trust
 
                                               Company, provide account number.
 
Certificate Nos. (if available):
______________________                      Account Number _____________________
 
Total Principal Amount Represented
by Restricted Notes Certificate(s):
$_______________________________________________________________________________
 
- ------------------------
*   Must be in denominations of principal amount of $1,000 and any integral
    multiple thereof.

ALL AUTHORITY HEREIN CONFERRED OR AGREED TO BE CONFERRED SHALL SURVIVE THE DEATH
OR INCAPACITY OF THE UNDERSIGNED AND EVERY OBLIGATION OF THE UNDERSIGNED
HEREUNDER SHALL BE BINDING UPON THE HEIRS, PERSONAL REPRESENTATIVES, SUCCESSORS
AND ASSIGNS OF THE UNDERSIGNED.
 
                                PLEASE SIGN HERE
 
X_______________________________________________________________________________
X_______________________________________________________________________________
    Signature(s) of Owner(s) or Authorized Signatory      Date
 
    Area Code and Telephone Number:
 
    Must be signed by the holder(s) of Restricted Notes as their name(s)
appear(s) on certificates for Restricted Notes or on a security position
listing, or by person(s) authorized to become registered holder(s) by
endorsement and documents transmitted with this Notice of Guaranteed Delivery.
If signature is by a trustee, executor, administrator, guardian,
attorney-in-fact, officer or the person acting in a fiduciary or representative
capacity, such person must set forth his or her full title below.
 
                      PLEASE PRINT NAME(S) AND ADDRESS(ES)
 
Name(s): _______________________________________________________________________
 
Capacity: ______________________________________________________________________
 
Address(es): ___________________________________________________________________
 
  ______________________________________________________________________________
 
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                                   GUARANTEE
 
    The undersigned, a member of a registered national securities exchange, or a
member of the National Association of Securities Dealers, Inc., or a commercial
bank or trust company having an office or correspondent in the United States,
hereby guarantees that the certificates representing the principal amount of
Restricted Notes tendered hereby in proper form for transfer, or timely
confirmation of the book-entry transfer of such Restricted Notes into the
Exchange Agent's account at the Depository Trust Company pursuant to the
procedures set forth in "The Exchange Offer--Guaranteed Delivery Procedures"
section of the Prospectus, together with a properly completed and duly executed
Letter of Transmittal (or a manually signed facsimile thereof) with any required
signature guarantee and any other documents required by the Letter of
Transmittal, will be received by the Exchange Agent at the address set forth
above, no later than five business days after the date of the delivery hereof.
Name of Firm: __________________________________________________________________
Authorized Signature: __________________________________________________________
Title: _________________________________________________________________________
Name: __________________________________________________________________________
Address: _______________________________________________________________________
 
                             (Please Type or Print)
Area Code and Tel. No. _________________________________________________________
Dated: _________________________________________________________________________
 
NOTE: DO NOT SEND CERTIFICATES FOR RESTRICTED NOTES WITH THIS FORM. CERTIFICATES
FOR RESTRICTED NOTES SHOULD ONLY BE SENT WITH YOUR LETTER OF TRANSMITTAL.
 
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