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): ___________________________________________________________________ ______________________________________________________________________________ 2 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. 3