INOVIQ LTD — Capital/Financing Update 2004

Feb 24, 2004

ASX Release

25 February 2004

ASX Symbol "EUG"

Reliance Notice ASIC Class Order 02/1180

Issuer: Eurogold Limited

ACN: 009 070 384

The Issuer hereby notifies ASX (as the operator of the prescribed financial market on which the securities identified below are or are to be quoted) that for the purposes of item 5 of Category 1 of ASIC Class Order 02/1180, there is no information to disclose to ASX of the kind that would be required to be disclosed under subsection $713(5)$ of the Corporations Act 2001 (Cth) if a prospectus were to be issued in reliance of section 713 of the Corporations Act 2001 (Cth) in relation to an offer of the securities described below other than the information set out in this notice.

Details of the Issue or Offer of Securities

Class of securities: ASX Code of the securities: Date of issue of the securities: Total number of securities issued:

Ordinary EUG 25 February 2004 10,000,000

Dated this 25^th day of February 2004

Signed for and on behalf of the Issuer:

Pauline Collinson Joint Company Secretary Eurogold Limited