Celsius Resources Limited — Capital/Financing Update 2004

Nov 29, 2004

30 November 2004

Company Announcements Office Australian Stock Exchange Ltd 20 Bond Street SYDNEY NSW 2000

By e-lodgement

Rothschild Approves Loan Facility

View Resources is pleased to advise that N M Rothschild & Sons (Australia) Limited has agreed to provide View with a secured \$2.5m loan facility to be used to fund the acquisition and development of the Company's Bronzewing project. The funds are available immediately.

Managing Director, Derek Lenartowicz said "Rothschild's confidence in the Project is shown by its willingness to loan funds ahead of the completion of the acquisition of Bronzewinng (final \$3m payment due in March 2005) and the bankable feasibility study scheduled for completion by the end of the current quarter.

ENDS

View Resources is a nickel and gold mining company that aims to quickly transform projects into cash operations. In 2004/05, View Resources will have 3 streams of revenue from two commodities nickel at Carnilya Hill and Zone 29 and gold from Bronzewing. View's nickel operations are based in the world renowned and rich Kambalda Nickel Province, whilst Bronzewing is in the highly successful Yandal Belt.

When in full production, it is anticipated that Bronzewing will produce between 110,000 and 130,000 ounces of gold per year for a targeted mine life of five years with further exploration and development.

Telephone: (08) 9226 4611 Facsimile: (08) 9226 4655 Level 12, London House 216 St Georges Tce, Perth WA 6000 ABN 95 009 162 949

Postal Address PO Box 7656 Cloisters Square WA 6850