Celsius Resources Limited — Capital/Financing Update 2003

Sep 23, 2003

24 September 2003

Manager of Company Announcements Australian Stock Exchange Limited Level 6, 20 Bridge Street SYDNEY NSW 2000

By E-Lodgement

No. Pages: 1

COMPLETION OF SHARE PURCHASE PLAN

View Resources Limited ("View") has today officially closed its Shareholder Share Purchase Plan dated 9 September 2003 ("Plan"), raising \$4.0 million. The original amount of \$2.0m to be raised under the Plan was increased to accommodate the overwhelming level of interest received from shareholders.

The Board is delighted with the outcome under the Plan. The funds raised under the Plan, together with those raised under the Company's recent placement, has resulted in a successful capital raising program of approximately \$6 million.

As previously announced, funds raised under this Plan will be used to commence mining activities on the Company's Carnilya Hill tenements, to conduct further exploration on both the Carnilya Hill and Kambalda Mining tenements and for working capital.

The Board would like to thank shareholders for their interest and ongoing support of the Company and its initiatives. As indicated in the Plan documents, the offer was completed on a first come, first accepted basis. The issue under the Plan was oversubscribed and Shareholders whose applications were unable to be processed will have application monies returned to them shortly.

Yours faithfully

Derek Lenartowicz Managing Director View Resources Limited