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INOVIQ LTD Capital/Financing Update 2007

Mar 28, 2007

65112_rns_2007-03-28_632a1bf9-d76a-4363-9c49-1a9428e282aa.pdf

Capital/Financing Update

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29 March 2007

ASX & AIM Symbol "EUG"

Further to our announcement of 29 March 2007 the proceeds from the liquidation of Transgold and Explorer amounting to A\$2.2m have now been received and the outstanding loan to Dragon Mining NL has been repaid in its entirety.

As advised in our announcement of 29 March EUG is in discussions with another party for the sale of the Saulyak Asset.

PETER GUNZBURG Executive Chairman

Level 4, State One House, 172 St George's Terrace, Perth WA 6000 Tele: +618 94810572 Fax: +618 94813586