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INOVIQ LTD Capital/Financing Update 2005

Feb 15, 2005

65112_rns_2005-02-15_c1af15b1-417c-41d6-a3ac-4340abad86be.pdf

Capital/Financing Update

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ASX Release

16 February 2005

ASX Symbol "EUG"

PLACEMENT

Eurogold Limited is pleased to announce that it has placed 7,800,000 shares each at GBP£0.07 with funds managed by RAB Capital.

The funds will be used for the Central Tailings Project in Romania and the Saulyak Project in the Ukraine as outlined in our December quarterly report.

PETER GUNZBURG Executive Chairman Eurogold Limited