ION VIDEO LTD — Capital/Financing Update 2014

Jun 25, 2014

ASX ANNOUNCEMENT

26 June 2014

Extensive copper below surface at Copper Ridge Project.

Firestrike Resources Limited is progressing with diamond core drilling at its Copper Ridge Project in Utah USA using a man portable drilling unit. To date approximately 300 feet of a 4,500 feet (1,500 metre) programme has been completed.

Of the 14 holes drilled, the first 11 have been geologically logged and sampled and 8 have encountered copper as malachite and azurite in the top 20 feet. 4 holes (14-HA-02, 14-HA08, 14-HA-09 and 14-HA-11) have terminated in copper mineralisation. The Company is anticipating assays from the core to be available shortly.

The aim of the drilling programme is to confirm the depth capacity of the identified copper mineralisation at surface. Drilling to date has successfully confirmed the depth capacity and there are a number of prospects still to be drill tested. Drilling is currently under way at the Harrison prospect which is one of 6 prospect locations that have been identified from copper at surface.

The light weight drill is considered capable of meeting expectations of being able to drill up to 60 feet and in areas where conventional drilling would require significant site preparation including road construction up the ridge as well as requiring permits and environmental bonds.

Drilling depth to date has averaged around 22 feet with fractured or bedded nature of the ground impacting upon the drills capability to reach expected depth, however all holes remain open with an option to re-enter the holes at a later stage. The Company is also looking to other techniques to improve the depth and based upon the results of the drilling over time, will seek to employ a larger rig to explore to greater depths.

Copper Ridge located in the state of Utah, USA is 100% owned by Firestrike. Since acquiring the project in late 2013, over 200 surface rock samples (as channel and grab samples) have previously been collected with copper mineralisation subsequently identified at surface sporadically along the entire length of the property of approximately 7 kilometres.

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Pictures of core from hole 14-HA 08 pale green/blue specs as an example of visible copper plus dark grey/ metalliferous sulphide. Red numbers and run blocks denote depth in feet.

TABLE OF HOLE DATA TO DATE

HOLE ID	EASTING	NORTHING	**ORIENTATION **	TOTAL DEPTH	VISIBLECOPPER
HA01	608840.34	4300045.00	vertical	25'5"	From 0-19'
HA02	608866.42	4300029.00	vertical	22'11"	From 0 - 12' and from 16' - 22'11'' Ended in mineralisation
HA03	608904.56	4299995.00	vertical	15'	No copper visible
HA04	608875.06	4300001.00	vertical	31"6"	From0-3'
HA05	608842.64	4299997.00	vertical	16'	Novisible copper
HA06	608792.90	4300060.00	vertical	21'7"	Novisible copper
HA07	608775.49	4300007.00	vertical	14'3"	From 0-4'
HA08	608731.95	4300024.00	vertical	31'7"	From 0 to 31" 7" Ended in mineralisation
HA09	608812.80	4300021.00	vertical	4'	From 0 to 4'Ended in mineralisation
HA10	608621.08	4300120.00	vertical	19'10"	From 6'to 19'10"
HA11	608596.89	4300086.00	vertical	27'10"	From 21" to 27' 10" ended in mineralisation
HA12	608567.63	4300036.00	vertical	28’3”	Not yetlogged
HA13	608511.72	4300114.00	vertical	16’	Not yetlogged
HA14	608459.37	4300171.00	vertical	15’	Not yet logged

NOTE: all drilling in feet as is the drilling equipment. For conversion to metres 1 foot = 0.3014 metres.

About Firestrike

Firestrike is a Western Australian based mineral exploration company. In July 2011, Firestrike Resources Limited listed on the Australian Securities Exchange, focused on building its inventory of mineral assets. The Company is actively pursued projects or opportunities that could see significant value added through well managed exploration.

Firestrike Resources Limited has 32 million shares and 13.3 million options on issue.

MAP OF HARRISON PROSPECT WITH DRILL HOLE LOCATION AND SAMPLE LOCATIONS.

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Surface samples as presented in ASX Release 6 February 2014, 26 March 2014 and

15 April 2014.

JORC TABLE 1

Section 1 Sampling Techniques and Data

Criteria	Explanation
Sampling techniques	The samples are collected as half core from a nominal size core diameter of 42mm. Core has been cut on a narrow diamond bladed saw with sampling intervals as three feet on average though variation down to 1 foot where geological conditions dictate a reduced sampling interval. Occasionally over 3 feet has been sampled in a single sample where geological or drill sample conditions determine this is more appropriate or efficient.
Drilling techniques	A light weight man portable rig has been used. Rods are in feet lengths of nominally 4 foot per rod. A single 4 foot core barrel is affixed to the rod string to enable core to be captured and lifted to surface. Each run of core required all rods to be tripped from the hole.
Drill sample recovery	Drill recoveries are recorded as drilling progresses. To date core recoveries overall is ranging from 67% to 83%. Clays and fractured broken ground is contributing to the core losses.
Logging	Brief descriptions of the core has been completed with visual observations on the presence of copper and other metalliferous minerals where recognized. Core has been photographed as wet whole and half cores.
Sub sampling techniques and sample preparation	The upper half of core as it sits in the core tray has been sampled and samples wherever possible taken as a maximum of 3 feet and a minimum of 1 foot where geological variation requires.
Quality of assay data and laboratory tests	Discrepancies in depth may occur where there is core loss and this may affect the determination of widths of mineralisation and the associated grade. Given the reconnaissance nature to the programme and that the data is not to be used directly in the determination of any JORC resources, it is considered that the grade and intervals will closely approximate the actual with sufficient confidence relative to the exploration conducted. Assaying is through ALS laboratory services in USA with sample preparation in Nevada and split samples sent to Vancouver for final determination.
Verification of sampling and assaying	Duplicate assays have been taken as quarter core every 30 samples and an umpire check sample every 100 samples also as quarter core to be sent to an Australian based laboratory.
Location of data points	All samples sites have been located using a hand held DGPS unit and cross checked onto aerial photographs where relevant. The GPS recorded locations used the WGS 84 datum Zone 12 North.
Data spacing and distribution	The data is not expected to be incorporated into any Mineral Resource or Ore Reserve estimation and is primarily an initial exploration reconnaissance sampling programme. As such the determination of data spacing and distribution is not relevant at this time.
Orientation of data in relation to geological structure	Wherever possible holes have been drilled vertically, however no down hole surveys were possible with the current on site equipment and as such the accuracy of the sample width and location is affected by this. Given the reconnaissance nature of the drilling, however this is not seen as a major impact

	upon the results of the current drilling programme.
Sample security	All samples were collected in calico sample bags with sample number tickets included in each bag and the same identification externally on the bag. Bags were then checked against field manifests and loaded into plastic buckets with tape sealed lids for transportation to SGS sample preparation in Ely, Nevada. Given the initial phase of exploration combined with the limited number of field staff involved, the security over sample dispatch is considered adequate for these samples at this time.
Audits or reviews	No audits or reviews have yet been conducted on the exploration data presented in this release.

Section 2 Reporting of Exploration results

Section 2 Reporting	of Exploration results
Criteria	Explanation
Mineral tenements and land tenure status	All claims are current and 100% owned by Firestrike Resources (or it’s wholly owned US subsidiary). There are no outstanding issues regarding access or ownership. Claim numbers are: From CR#001 to CR#184 inclusive and within Grand County, Utah USA. They are unpatented claims on Federal Land.
Exploration done by other parties	Historical drill holes exist at the Mealey and Harrison prospects as well as numerous mine shafts, adits and surface workings. No further technical information has yet been found to verify and validate the previous work done other than Geological Survey reports from the State of Utah.
Geology	The mineralisation is seen as predominantly disseminated copper (as malachite and azurite) with lesser lead, zinc, cobalt and silver in sandstones as a result of fluid flow along major structures on the limb of a collapsed salt dome anticline within the Paradox Basin , Utah USA. This is a recognised style of mineralisation and one that is common to the Moab district of Utah, USA.
Drill hole Information	Drill hole collars are recorded with DGPS and hole depths measured via the drill rods down hole. No orientation of the hole or the core is achievable with the type of drill rig employed.
Data aggregation methods	No assay samples have been included in this release. Once reportable some aggregation may be included over zones shown to have continuous copper. Methodology will be to include no more than 3 feet of internal dilution and use an assay cut off of 0.1% copper.
Relationship between mineralisation width and intercept lengths	The mineralisation is strata bound and wherever possible vertical drilling has been close to normal to the stratigraphy is considered to approximate the true width, however without down hole surveys and core orientation the widths remain approximate until further drilling can confirm the true widths.
Diagrams	Attached to the release is a map highlighting the location of assay results above 0.1% copper. Maps will be prepared to present the drill hole locations on aprospect scale once assays have been returned from the

	Laboratory and verified. Datum is WGS83 zone 12 North.
Balanced reporting	Once results are available the intention is to apply a cut off of 0.1% copper Any reference to “high grade” is copper assays above 1.0% copper. It is intended that all core will be submitted to the laboratory for analysis and not just those with observed copper or metalliferous minerals contained therein. This is to test the zones between known mineralisation and to test for other metals that may not have been visually recognised at this stage.
Other substantive exploration data	The intention of the drilling is to test for the presence of copper from surface where exposure is limited. This is especially for areas where copper float has been seen at the base of cliffs in the project area, but scaling the cliffs has proved to be beyond the reach of field exploration. The drill rig is capable of testing down to 75 feet, however ground conditions are limiting the penetration at this stage to around 30 feet.
Further work	Given the poor ground conditions encountered, a larger drilling rig will be employed to test at depth the areas identified as mineralised from this drilling campaign. The current programme will also allow better targeting of drill holes, minimizing costs and limiting environmental impacts.