EQ RESOURCES LIMITED — Capital/Financing Update 2007

Mar 22, 2007

23 March 2007

Company Announcements Australian Stock Exchange Limited

Release of Securities from Escrow

In accordance with ASX Listing Rule 3.10A we advise that 3,290,001 fully paid ordinary shares classified by ASX as restricted securities will be released from escrow on 29 March 2007. The Company will apply for quotation of these shares within 10 business days of this date as required by Listing Rule 2.8.2.

Yours faithfully Icon Resources Ltd

Robert J Waring Company Secretary

End escrow 23 mar 07.asx.2007.lll