Celsius Resources Limited — Capital/Financing Update 2005

Mar 29, 2005

ASX Announcement 30 March 2005

Lion makes \$3 million follow on investment in View Resources

Lion Selection Group is pleased to announce a further investment in emerging Western Australian gold and nickel resources company, View Resources Limited. Lion will invest \$3 million in View Resources for 10 million shares at 30 cents each with 5 million free attaching 50 cent options, exercisable by 31 March 2009. Lion's initial investment was \$2.5 million.

View Resources is a nickel producer through two operations near Kambalda, both having considerable exploration potential, and is acquiring and intends to develop the Bronzewing gold project.

View intends to apply these funds to complete the Bronzewing acquisition and to expedite exploration at both the Kambalda nickel operations and at Bronzewing.

Enquiries:

Robin Widdup / Brooke Benfield Lion Selection Group Limited Tel: 61 3 9614 8008 Fax: 61 3 9614 8009 Email: lionselection@lsg.com.au