Celsius Resources Limited — Capital/Financing Update 2004

Aug 24, 2004

25 August 2004

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

URCES

By e-lodgement

APPENDIX 3B

Please find attached an Appendix 3B in respect of shares to be issued in consideration for work performed by Carey Mining Pty Ltd in securing the acquisition of the Bronzewing mining assets as approved by shareholders on 27 July 2004.

Yours faithfully

PETER LANDAU Director View Resources Limited

Facsimile:

(08) 9226 4655

216 St Georges Tce, Perth WA 6000

ABN 95 009 162 949

PO Box 7656

Cloisters Square WA 6850

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement. application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

VIEW RESOURCES LIMITED

ABN

95 009 162 949

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

⁺Class of ⁺securities issued or to $\mathbf{1}$ be issued

Ordinary Fully Paid

• $\overline{2}$ Number of $+$ securities issued or to be issued (if known) or maximum number which may be issued
• Principal terms of the $+$ securities $\overline{\phantom{a}}$ $\overline{3}$ (eg, if options, exercise price and expiry date; if partly paid $+$ securities. the amount outstanding and due dates for +convertible payment; if securities, the conversion price and dates for conversion)

1,500,000 Ordinary Fully Paid Shares (post-consolidation)

$N/A$

4	Do the + securities rank equally in all respects from the date of allotment with an existing + class of quoted $+$ securities?	Yes
	If the additional securities do not rank equally, please state: the date from which they do the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend. distribution interest or payment
5.	Issue price or consideration	In consideration for work performed by Carey Mining Pty Ltd in securing the acquisition by the Company of the Bronzewing mining assets.
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	The shares are issued following shareholder approval in consideration for work performed by Carey Mining Pty Ltd in securing the acquisition by the Company of the Bronzewing mining assets.
7	Dates of entering + securities into uncertificated holdings or despatch of certificates	On or about 25 August 2004
		Number	+ Class
8	Number and $\pm$ class of all $+$ securities quoted on ASX (including the securities in clause 2 if applicable)	67,449,105* (post-consolidation)	Ordinary Fully Paid Shares

1,500,000 Ordinary Fully Paid Shares are subject to 12 month escrow period from 25
August 2004. $\frac{1}{2}$

⁺ See chapter 19 for defined terms.

		Number	+ Class
9	Number and tclass of all *securities not quoted on ASX (including the securities in clause 2 if applicable)	1,000,000	Options (Employee) (exercisable at 35 cents between 12 August 2004 and 31 December 2006)
		17,000,000	Incentive Shares (8,500,000 Class B Incentive Shares and 8,500,000 Class C Incentive Shares) convertible into shares upon the satisfaction of key performance events.
			Convertible note for \$5.854m converting at 60 cents per share with an attaching Option (subject to shareholder approval) exercisable at 60 cents within 12 months of the date of conversion.

Dividend policy (in the case of a $N/A$
trust, distribution policy) on the $10₁$ increased capital (interests)

Part 2 - Bonus issue or pro rata issue

11	holder approval N/A security Is. required?
12	Is the issue renounceable or non- $N/A$ renounceable?
13	Ratio in which the "securities will $\mid N/A \rangle$ be offered
14	Class of securities to which the offer relates	l N/A
15	determine *Record date to entitlements	N/A
16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?	N/A

17	Policy for deciding entitlements in relation to fractions	N/A
18	Names of countries in which the entity has *security holders who will not be sent issue new documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7.	N/A
19	οf Closing date for receipt acceptances or renunciations	N/A
20	Names of any underwriters	N/A
21	Amount of any underwriting fee or commission	N/A
22	Names of any brokers to the issue	N/A
23.	Fee or commission payable to the broker to the issue	N/A
24	Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of *security holders	N/A
25	the issue is contingent on If "security holders" approval, the date of the meeting	N/A
26	entitlement and acceptance Date form and prospectus or Product Disclosure Statement will be sent to persons entitled	N/A
27	If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders	N/A
28	Date rights trading will begin (if applicable)	N/A
29	Date rights trading will end (if applicable)	N/A

⁺ See chapter 19 for defined terms.

30			How do *security holders sell their 1
			entitlements in $full$ through a
	broker?

$31$ How do *security holders sell part of their entitlements through a broker and accept for the balance?

32	How do *security holders dispose 1
	of their entitlements (except by sale
	through a broker??

33 *Despatch date

Ħ	۹ ٠
۰

$N/A$

$N/A$

$N/A$

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities (tick one)

$(b)$

35

37

• Securities described in Part 1 $(a)$
• All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

If the *securities are *equity securities, the names of the 20 largest holders of the additional "securities, and the number and percentage of additional "securities held by those holders

If the "securities are "equity securities, a distribution schedule of the additional 36 *securities setting out the number of holders in the categories $1 - 1.000$ $1,001 - 5,000$ 5,001 - 10,000 $10,001 - 100,000$ 100,001 and over

A copy of any trust deed for the additional *securities

Entities that have ticked box 34(b)

• 38 Number of securities for which *quotation is sought
• Class of *securities for which 39 quotation is sought
• 40 Do the *securities rank equally in all respects from the date of allotment with an existing "class of quoted *securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they participate for the next dividend. (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
• 41 Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

42 Number and "class of all "securities quoted on ASX (including the securities in clause 38)

$+$ See chapter 19 for defined terms.

Ouotation agreement

• $\mathbf{1}$ *Ouotation of our additional *securities is in ASX's absolute discretion. ASX may quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the *securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• An offer of the ⁺securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the *securities to be quoted, it has been provided at the time that we request that the *securities be quoted.
• If we are a trust, we warrant that no person has the right to return the *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.
• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• $\overline{4}$ We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before *quotation of the *securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:
	Director/Company Secretary

Print name: Peter Landau

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$+$ See chapter 19 for defined terms.