EQ RESOURCES LIMITED — Capital/Financing Update 2009

Dec 13, 2009

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Icon Resources Ltd ABN: 77 115 009 106 Suite 404, 25 Lime Street Sydney NSW 2000 Tel: +61 2 9279 1252 Fax: +61 2 9279 2727

14 December 2009

Companies Announcements Office Australian Securities Exchange

ALLOTMENT OF SHARES FROM PLACEMENT

We refer to the announcement dated 17 November 2009 by Icon Resources Ltd (ASX Code: III) of a placement of 11,180,570 ordinary fully paid shares at a price of 9 cents per share to raise $1,006,251. The funds raised from the placement made to clients of broker Martin Place Securities Limited, and a number of professional investors, have now been received and the shares were allotted on 11 December 2009.

Secondary Trading Exemption

The Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By the Company giving this notice, a sale of the Securities noted above will fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:

• a) the Company issued the Securities without disclosure to investors under Part 6D.2 of the Act;

• b) as at 11 December 2009 the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

• c) as at 11 December 2009 there is no information:

  • i) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

  • ii) that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

    • A) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

    • B) the rights and liabilities attaching to the Securities.

Icon Resources Ltd

Robert J Waring Company Secretary