ION VIDEO LTD — Capital/Financing Update 2012

Sep 9, 2012

10 September 2012

Drilling commences at Utah gold project

Firestrike Resources Limited (“FIE”) is pleased to announce that drilling has commenced at the Elephant Canyon Project, Utah USA testing the first of over 6 drill targets.

Reverse circulation drilling of up to 4,000 metres is underway at the high grade Coronado epithermal fissure system. The drilling programme is following up on surface sample results where gold rich broad fissure zone with maximum value of 9.3 g/t of gold. The fissure zones have been previously mined on a very small scale and have never been subjected to modern exploration techniques such as mapping, soil sampling and reverse circulation drilling.

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The initial drill target area of the Coronado fissure zone is following up . on ferruginous fissures seen at surface and recently surface sampled

The results of this surface sampling have confirmed that elevated gold and copper is present within the zone and a maximum value of 9.3 g/t gold with an overall average value of 0.4 g/t was returned. (see ASX announcement 2/8/2012).

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The information in the report to which this statement is attached relates to Exploration Results, Mineral Resources or Ore Reserves compiled by Mr D. J. Holden who is the Managing Director of the company. Mr Holden is a Chartered Professional Member of The Australian Institute of Mining and Metallurgy, with over 25 years’ experience in the mining industry. Mr Holden has sufficient experience, as to qualify as a Competent Person as defined in the 2004 edition of the “Australian Code for Reporting of Mineral Resources and Ore reserves”. Mr Holden consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

ABOUT FIRESTRIKE RESOURCES LTD

Firestrike is a Western Australian based mineral exploration company. In July 2011, Firestrike Resources Limited listed on the Australian Securities market focused on building its inventory of mineral resources.

The Company has a flag ship project in Utah USA exploring for gold and base metals as well as two Kimberley based advanced gold projects at Grants Creek and Angelo near Halls Creek.

Firestrike Resources Limited has 32 million shares on issue.

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