4DS MEMORY LIMITED — Board/Management Information 2011

Jan 6, 2011

==> picture [91 x 99] intentionally omitted <==

ICON ADVISES THE FOLLOWING UPDATES ON ITS ACTIVITIES

Management:

Mr Ian Sheffield-Parker has been confirmed as the new Managing Director of Icon Resources Ltd (Icon).

Icon's Board of Directors wishes to acknowledge the contributions of Dr John Bishop, who retired from the position of Managing Director on 31[st] December 2010.

Strategy:

Icon is moving quickly to implement the following strategies:

• Icon will focus solely on tungsten production, based initially on its Mt Carbine tungsten project.

• Icon's copper-zinc prospects in Queensland were successfully spun out to Fitzroy Resources Ltd (Icon retains approximately 20%) which raised $5 million to be spent testing the Fitzroy copper-zinc prospect (JORC inferred resource of 1.75 million tonnes at 1.7% Cu, 2.1% Zn, 8.5 g/t Ag) and the Glentanna zinc prospect.

• Icon's gold prospects are being spun out into a new company, Gossan Hill Gold Ltd, with the intent of raising fresh capital in an IPO, to enable drilling and further exploration of these exciting prospects. The Company is also negotiating with third parties to add additional advanced gold projects to the IPO.

• Joint Venture partners are actively being sought for the remaining Icon prospects.

Mt Carbine tungsten project:

Although Icon previously stated that the tailings project could be in production late 2010, the new management have adopted a more conservative approach and are now undertaking a complete review of its options prior to embarking upon a fund raising exercise based upon a solid business plan. It is estimated that building of a tailings processing plant will commence late in the second quarter of 2011 or early in the third quarter.

Strategy:

• Results of recent test work support Icon's concept of a staged development of Mt Carbine, with a project life based on present understanding of resource potential in excess of 15 years, as follows:

  1. Production to commence with tailings re-treatment (~2 years production).

  2. Crushing, ore sorting and milling of the low-grade stockpile - previously described as the “mineralised waste dump” (~4 to 6 years production).

  3. Hard rock mining, both open pit and underground (>10 years production).

==> picture [91 x 99] intentionally omitted <==

Metallurgical test work progress:

• Icon is awaiting results of tailings bulk sample trials for final flow sheet design.

• Ore sorter trials, using a state-of-the-art X-Ray ore sorter on site to determine sorting performance of bulk samples from the low grade stockpile and historical optical ore sorter reject stockpiles, have been completed.

• Off-site ore sorter trials of run-of-mine ore are yet to be undertaken.

The ore sorter trial’s products await final confirmation by laboratory assays, but based on portable handheld XRF equipment and visual estimates, the results are highly satisfactory, and on this basis planning is proceeding for metallurgical test work and flow sheet development for processing of the low grade stockpile.

Permitting:

• Environmental Approval and amendments to the Plan of Operation have been approved which allow the tailings re-treatment to commence.

Shares in Fitzroy Resources Ltd

The Company owns 7.5 million shares and 5 million options in Fitzroy Resources Ltd, which have been escrowed by the ASX for two years from 9 December 2010. As previously advised, the Icon Board is investigating whether, subject to obtaining the necessary regulatory approvals, the shares and options in Fitzroy Resources Ltd that Icon received as vendor consideration would be distributed, In-Specie, to Icon shareholders. Initial work has confirmed that the required ASX, ATO and shareholder approvals will take many months and be expensive in terms of legal and tax consultant fees. Further work on this process has been deferred until later in 2011.

For further information regarding this announcement, contact:

Ian Sheffield-Parker Managing Director

Icon Resources Ltd Ph: +61 (0) 409 989 960 +61 (0) 7 4078 6290 Email: iansp@iconresources.com.au 7[th] January 2011

Further information relating to Icon and its projects can be found on the Company’s website at www.iconresources.com.au.

==> picture [91 x 99] intentionally omitted <==

==> picture [427 x 143] intentionally omitted <==

==> picture [427 x 142] intentionally omitted <==

==> picture [189 x 284] intentionally omitted <==

==> picture [188 x 284] intentionally omitted <==

The Second Generation Applied Sorting X-Ray Ore Sorter being used for testwork on the previously rejected low grade stockpile

==> picture [91 x 99] intentionally omitted <==

==> picture [379 x 285] intentionally omitted <==

Mount Carbine Tailings