EQ RESOURCES LIMITED — Share Issue/Capital Change 2011

Jun 13, 2011

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

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 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

Icon Resources Ltd

ABN

77 115 009 106

We (the entity) give ASX the following information.

Part 1 – All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be issued Ordinary fully paid shares 2 Number of[+] securities issued or to be issued (if known) or maximum Maximum number of 95,298,398 number which may be issued 3 Principal terms of the[+] securities Ordinary fully paid shares (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

• See chapter 19 for defined terms.

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Appendix 3B New issue announcement

4 Do the[+] securities rank equally in All shares issued pursuant to the Rights all respects from the date of allotment with an existing[+] class of Issue will rank equally with Icon fully paid quoted[+] securities? ordinary shares trading on the ASX under Code III. If the additional securities do not rank equally, please state: • the date from which they do; • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment; • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment. 5 Issue price or consideration 7.5 cents per share 6 Purpose of the issue Non-renounceable pro rata offer (Rights (If issued as consideration for the Issue) on the basis of 8 New Share for acquisition of assets, clearly identify every 10 Shares held on the Record Date. those assets) The funds raised from the issue will be used for the purposes set out in the offer document.

7 Dates of entering[+] securities into uncertificated holdings or despatch of 20 July 2011 certificates Number +Class 8 Number and[+] class of all[+] securities Up to a Ordinary Fully Paid quoted on ASX ( including the maximum of Shares securities in clause 2 if applicable) 214,421,396

• See chapter 19 for defined terms.

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Appendix 3B New issue announcement

Number +Class 9 Number and+class of all+securities not quoted on ASX (_including_the securities in clause 2 if applicable) 17,250,011 1,260,870 400,000 1,500,000 450,000 950,000 30 June 2011 Options – exercise price 15 cents 30 November 2012 Options – exercise price 45 cents 30 November 2012 Options – exercise price 30 cents 30 November 2013 Options – exercise price 35 cents 17 November 2014 Options – exercise price 15 cents 17 November 2014 Options – exercise price 20 cents 10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests) Full participation in any future dividends. Part 2 – Bonus issue or pro rata issue 11 Is security holder approval required? No 12 Is the issue renounceable or non- renounceable? Non-Renounceable 13 Ratio in which the+securities will be offered 8 New Shares for every 10 shares held on the Record Date. 14 +Class of+securities to which the offer relates Ordinary Fully Paid Shares 15 +Record date to determine entitlements 23 June 2011 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? Yes 17 Policy for deciding entitlements in relation to fractions Round up to the nearest whole New Share.	Number	Number	+Class
	17,250,011 1,260,870 400,000 1,500,000 450,000 950,000		30 June 2011 Options – exercise price 15 cents 30 November 2012 Options – exercise price 45 cents 30 November 2012 Options – exercise price 30 cents 30 November 2013 Options – exercise price 35 cents 17 November 2014 Options – exercise price 15 cents 17 November 2014 Options – exercise price 20 cents
	Full participation in any future dividends.
		No
		Non-Renounceable
		8 New Shares for every 10 shares held on the Record Date.
		Ordinary Fully Paid Shares
		23 June 2011
		Yes
		Round up to the nearest whole New Share.

• See chapter 19 for defined terms.

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Appendix 3B New issue announcement

18 Names of countries in which the entity has+security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of acceptances or renunciations 20 Names of any underwriters 21 Amount of any underwriting fee or commission 22 Names of any brokers to the issue 23 Fee or commission payable to the broker to the issue 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of+security holders 25 If the issue is contingent on+security holders’ approval, the date of the meeting 26 Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders 28 Date rights trading will begin (if applicable) 29 Date rights trading will end (if applicable) 30 How do+security holders sell their entitlements_in full_through a broker?	Any jurisdiction other than Australia, New Zealand and Singapore. The Rights Issue is Non-Renounceable.
	12 July 2011
	Not Applicable
	Not Applicable
	Not Applicable
	Not Applicable
	Not Applicable
	Not Applicable
	28 June 2011
	14 June 2011
	Not Applicable
	Not Applicable
	Not Applicable

• See chapter 19 for defined terms.

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Appendix 3B New issue announcement

• 31 How do[+] security holders sell part of their entitlements through a broker and Not Applicable accept for the balance?

• 32 How do[+] security holders dispose of their entitlements (except by sale Not Applicable through a broker)?

• 33 +Despatch date

20 July 2011

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities

• ( tick one )

• (a) Securities described in Part 1

• (b) All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities.

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35 If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[+] securities, and the number and percentage of additional[+] securities held by those holders

• 36 If the[+] securities are[+] equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over

• 37 A copy of any trust deed for the additional[+] securities

Entities that have ticked box 34(b)

• 38 to 42

Not Applicable

• See chapter 19 for defined terms.

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Appendix 3B New issue announcement

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted[+] quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that noone has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the[+] securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before[+] quotation of the[+] securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

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Sign here: ....................................................................... Date: 14 June 2011 (Company Secretary)

Print name: Robert J Waring

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• See chapter 19 for defined terms.

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