EQ RESOURCES LIMITED — Capital/Financing Update 2010

Oct 28, 2010

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MARKET RELEASE

29 October 2010

Icon Resources Ltd

TRADING HALT

The securities of Icon Resources Ltd (the “Company”) will be placed in pre-open at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in pre-open until the earlier of the commencement of normal trading on Tuesday, 2 November 2010 or when the announcement is released to the market.

Security Code:

III

Joel Farina Senior Adviser, Issuers (Sydney)

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29 October 2010

Mr J Farina Senior Adviser Issuers Department Australian Securities Exchange Limited

Dear Joel

Request for Trading Halt

I refer to our telephone conversation and hereby apply for a trading halt on the Company’s traded securities under Listing Rule 17.1 for a period of up to two days pending an announcement to the market concerning a capital raising. The Company expects to make an announcement concerning the capital raising before trading commences on Tuesday 1 November 2010 to end the trading halt. The Company is not aware of any reason why the trading halt should not be granted.

Yours sincerely Icon Resources Ltd

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Robert J Waring Company Secretary

Icon Resources Ltd ABN: 77 115 009 106 Suite 505, Level 5, 35 Lime Street, Sydney NSW 2000, Tel: +61 2 9279 1252, Fax: +61 2 9279 2727