INOVIQ LTD — Net Asset Value 2009

Oct 26, 2009

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EUROGOLD

L I M I T E D

(ACN 009 070 384)

27 October 2009

ASX "EUG"

UPDATED NET ASSET POSITION

Eurogold advises that the Company’s current cash position is $10.7 million and investments in listed companies total $15.17 million.

The Company is also due to receive US$3,000,000 (A$3.276 million) as a consequence of the disposal of its Ukrainian gold mining assets to Resource Invest LLC (“RIL”) in July 2007. The funds are payable upon a regulatory milestone relating to the advancement of the Saulyak Gold Project being met.

Assuming a $US/$AUD exchange rate of $0.91 cents and current share market prices, the Company has an NTA of approximately $0.45 per share after receipt of the receivable and approximately $0.40 cents before the receivable based on the issued capital of 63,935,926 ordinary shares.

This update corrects an error in the value of the Company’s share portfolio in the Company's quarterly report released on 12 October 2009.

It is not the intention of the Board that the primary business of Eurogold will be that of a passive portfolio investor.

The Company has examined, and continues to examine, various investment opportunities in resource projects with a particular focus on the gold mining sector.

PETER GUNZBURG

Executive Chairman