EQ RESOURCES LIMITED — Capital/Financing Update 2007

Aug 26, 2007

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ASX Announcement

Extension of Offer from KUTh Energy Limited

Despite the recent market volatility, green energy remains a hot topic in the public arena and KUTh Energy is on track with its IPO.

Icon Resources shareholders who have held at least 12,000 Icon shares between 5 July 2007 and 7 August 2007 are entitled to apply for 12,000 shares in the IPO of KUTh Energy Limited in a Priority Offer.

The closing date for the Icon Priority Offer was to be 28 August, however your Directors have received some requests for an extension of this date due to the late arrival (and in some cases non-arrival) of the KUTh Energy Prospectus.

We are pleased to state that in consideration of the late receipt of prospectuses by Icon shareholders, the Directors of KUTh Energy have agreed to an extension of the priority closing date and will now hold the Icon Priority Offer open until the close of the general offer. This is scheduled for 4 September but KUTh Directors have asked us to remind people that the KUTh general offer may itself close early.

Icon Resources shareholders who wishes to acquire shares in KUTh Energy through the Priority Offer will need to complete Priority Application Form that accompanies the Prospectus dated 31 July 2007.

John Bishop Managing Director

27 August 2007

For further information, contact John Bishop, Managing Director 02 9279 1252 or 0418 373 429 Digital copies of this and other reports are available on our website www.iconresources.com.au. To receive email copies of future releases, subscribe by email to info@iconresources.com.au

Icon Resources Ltd ABN 77 115 009 106

Registered Office: Suite 404, 25 Lime Street, Sydney NSW 2000 PO Box H116, Australia Square NSW 1215 T: +61 2 9279 1252 F: +61 2 9279 2727

Principal Office: 38 George Street, North Hobart TAS 7000 PO Box 2001, North Hobart TAS 7002 T: +61 3 6231 3948 F: +61 3 6234 3472