EQ RESOURCES LIMITED — Director's Dealing 2006

Nov 28, 2006

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	lcon Resources Ltd
ABN	77 115 009 106

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Andrew Hewlett White
Date of last notice	9 June 2006

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Change in indirect interest
Nature of indirect interest	Shares held by Elizabeth M White (wife)
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	24 November 2006
No. of securities held prior to change	150,000 fully paid ordinary shares held directly
	3,085,715 shares in the name of Golden Reef Enterprises Pty Ltd, a company associated with Andrew Hewlett White
	40,000 shares in the name of Andrew Hewlett White and Elizabeth Macarthur White
Class	Fully paid ordinary shares
Number acquired	20,000 fully paid ordinary shares
Number disposed	Nil
Value/Consideration Note: If consideration is non-eash, provide details and estimated valuation	\$4,900 (24.5 cents per share)

⁺ See chapter 19 for defined terms.

No. of securities held after change	150,000 fully paid ordinary shares held directly
	3,085,715 shares in the name of Golden Reef Enterprises Pty Ltd, a company associated with Andrew Hewlett White
	40,000 shares in the name of Andrew Hewlett White and Elizabeth Macarthur White
	20,000 fully paid ordinary shares held indirectly.
Nature of change	20,000 fully paid ordinary shares purchased on
Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	market.

Part 2 – Change of director's interests in contracts – AH White

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	None
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

Appendix $3Y - 29$ November 2006

⁺ See chapter 19 for defined terms.