ION VIDEO LTD — Capital/Financing Update 2014

Apr 14, 2014

ASX ANNOUNCEMENT

15 April 2014

Sample results confirm extensive copper present at Copper Ridge Project

Highlights

• Extension of high grade copper at surface now identified over a large area

• Planned drilling program to confirm depth capacity of large surface mineralisation

• Previous cliff face sampling suggests that drilling will confirm depth mineralisation

• Metallurgical test work commenced

• High grade uranium results from old mine workings.

Results of recent sampling

• Outcrop grab sample of 17.0% copper with 2.9% lead

• 10 metres(m) channel sample averaging 0.6% copper including

• 1m @ 4.8% lead,

• 1m @ 4.5% lead

• 1m @ 7.7% lead

• 4.7% copper with 36.3% lead in grab sample

• 2m @ 3.4% copper and 2.2% lead

• 4m @ 4.9% copper and 4.6% lead

• 10,950ppm uranium from old mine workings

The Company wishes to announce that assays just received confirm the previous assertions that copper is now found at surface sporadically along the entire length of the Copper Ridge property, a total length of 7 kilometres. This recent exploration work focused on areas between the already identified prospects of the Harrison, Xaz and Mealey. Of the numerous outcrop sites visited where mineralisation was identified 83 sites were sampled and 55 of these returned copper greater than 0.1% copper with 33 greater than 0.5% copper. The maximum result was 17.01% copper as a single grab sample with a median of all copper samples of 0.54% copper, and an average of 0.76% copper (excluding the very high copper grab sample above).

Mr Holden (Managing Director) said

“I feel very confident that we have significant copper present and encouraged with the rapid progress we are making on the project”

“When we complete our first drilling program and verify the depth capacity of the extensive copper mineralisation already found at surface, then we will truly know if we have a major project on our hands. ”

At the Tibbett’s prospect a channel sample spanning some 16 metres above the outcrop that previously returned a grab sample of 10.4% copper yielded results as below:

**From **	to	SAMPL	Cu%	Pb%
0	1	30900	**0.52 **	**4.81 **
1	2	30901	0.77	4.54
2	3	30902	0.56	0.74
3	4	30903	0.10	0.09
4	5	30904	**0.54 **	**0.57 **
5	6	30905	0.25	0.53
6	7	30906	0.49	0.53
7	8	30907	**1.32 **	**0.52 **
8	9	30908	0.32	1.11
9	10	30910	0.76	7.69
10	12		Outcrop obscured. Not sampled
12	13	30909	0.07	0.18
13	14	30911	0.16	0.05
14	15	30912	0.08	0.13
15	16	30913	0.03	0.16

Whilst face sampling down the cliff face from the Harrison prospect heap leach area shows the copper is present within the shallow dipping sandstone for at least 9.5m with the remainder of the cliff obscured by fallen ground and scree.

**From **	to	Cu%	SAMPL	Notes
0	1	1.46	320776
1	2	1.60	320777
2	3.5			Obscured unable to sample
3.5	4.5	0.16	320778
4.5	5.5	0.26	320779	Sampling moved along strike 10metres east due to access
5.5	6.5	0.01	320780
6.5	7.5	0.58	320781
7.5	8.5	0.49	320782
8.5	9.5	0.35	320783	Sampling moved along strike 10metres east due to access

New prospect sampling included to the east of Mealey where copper in fissures and veinlest returned 2.5% copper and 0.2 % copper in analytical results in the 2 samples taken and further sampling at the Umkay prospect confirmed a high grade (greater than 1%) copper filled fault structure. An initial single sample taken returned 4.97% copper and is further supported by second sampling which returned 17.01% copper, with 2.13% lead. Both samples taken as grab samples taken from the old workings and dump. The structure is traceable for over 400 metres is so far has been seen to be variably mineralised over at least 250 metres with a nominal width of 2 – 3 metres.

The Company is now confident that extensive copper mineralisation is present at surface in a number of prospects through the claims area and is keen to complete the first phase of drilling to determine the depth potential to the copper. Although some indication of depth is evidenced from the face sampling of the cliffs which expose a partial cross section, the broken and collapsed nature of the cliffs restricts the ability to collect extensive face samples. This would be better served by drilling from the flat ground at the top of the cliffs.

Visible copper and other base metal sulphides are found within a number of sandstone units from the uppermost Saltwash member of the Morrison Formation to the base of the Entrada sandstones and is seen in fissures fractures ranging from millimetre stock work style veining to many centimetres in width within sandstone as well as disseminated mineralisation which may be up to several metres distant from the margins of major faults and splays off the dominant range front Salt Valley fault. These splays too may contain fracture fill over several metres and have been seen to be rich in copper and base metals with minor accessory manganese and cobalt.

Further analysis of the results is continuing and the Company’s technical team will continue to put the results into context in regards to further exploration and the implication of the results to date. Work has also commenced on preliminary metallurgical investigations and acid digestion analytical work is now under way including composites of the mineralised zones or specific samples representing various mineralisation styles found throughout the project.

The company is now set to start initial drilling using low impact narrow diameter diamond drilling to further quantify the mineralisation found.

In addition uranium results from samples taken from historical workings had a maximum of 1.09% Uranium (10,900 ppm) and minimum of 60 ppm with a mean of 0.08% (824 ppm) uranium . The workings are to the east of the main copper area.

Announcements on the commencement of the drilling and initial results are anticipated over the coming weeks.

Property location map, Copper Ridge, Salt Valley Moab Utah USA

==> picture [418 x 726] intentionally omitted <==

Table of sample locations and results for copper, lead and zinc above 0.1% and uranium above 100ppm.

Easting	Northing	Notes	Sample No	Recvd Wt.	Mn	Mo	U	V	Cu%	Pb%	Zn%
607638.3	4301063	0-1m channel sample	30900	0.55	90	620	100	30	0.52	4.81	0.06
607637.9	4301063	1 - 2m	30901	0.33	100	920	160	30	0.77	4.54	0.09
607637.5	4301062	2 - 3m	30902	0.53	60	390	160	30	0.56	0.74	0.06
607637.1	4301061	3-4m	30903	0.42	110	180	60	20	0.10	0.09	0.03
607636.7	4301060	4 - 5m	30904	0.67	130	330	100	20	0.54	0.57	0.17
607636.3	4301059	5- 6m	30905	0.97	80	330	160	20	0.25	0.53	0.16
607635.9	4301058	6 - 7m	30906	0.72	110	220	100	20	0.49	0.53	0.31
607635.5	4301057	7 - 8m	30907	0.5	190	560	160	30	1.32	0.52	0.30
607635.1	4301056	8 - 9m	30908	0.66	130	360	110	20	0.32	1.11	0.15
607633.5	4301053	9- 10 m (10 - 12 m obscured)	30910	0.92	660	2100	140	30	0.76	7.69	0.23
607634.7	4301055	12 - 13m	30909	0.61	150	350	70	30	0.07	0.18	0.28
607633.1	4301052	13 - 14m	30911	0.46	170	30	-1	20	0.16	0.05	0.06
607632.7	4301051	14 - 15m	30912	0.47	130	90	60	20	0.08	0.13	0.04
607632.3	4301050	15 - 16m	30913	0.48	130	130	-1	20	0.03	0.16	0.03
612086	4293918	dump sample at uranium mine byshaft	30914	1.16	260	50	1020	5670	0.00	0.02	0.02
612201	4293806	sample from mine openingasgrab sample	30915	0.46	390	40	270	530	0.00	0.03	0.01
612201	4293806	Mine opening with pinch and swell up to 0.5m. Dark black stringers in bedding plane with UO2 present	30916	0.88	320	30	2090	5880	0.00	0.05	0.01
612202	4293806	dump sample at location above	30917	0.74	360	-10	360	5040	0.00	0.00	0.00
612329	4293714	grab sample from dumps	30918	0.22	30	30	10950	50100	0.01	0.50	0.04
609196	4299988	2m x2m exposure as face sample at mine	30919	1.02	470	10	2270	4700	0.00	0.03	0.01
609136	4300038	grab sample of possible disseminated copper at base of cliff	30921	0.75	50	-10	60	210	0.88	0.00	0.00
613249	4296464	grab sample of ferruginous altered sandstone at base of cliff	40101	0.72	70	-10	-1	-10	0.23	0.00	0.00
613640	4296451	10 cm wide veinlet with some dissemination into wallrock	40102	0.55	40	-10	-1	10	2.50	0.00	0.00
613198	4295622	copper within 20cm zone red/fe alteration	320715	0.57	100	-10	-1	20	0.23	0.00	0.00
612758	4295947	mm wide copper veinlets in 30cm zone	320716	0.39	60	10	-1	20	1.88	0.00	0.00
609728	4299515	dk red clots in grab sample	320717	0.41	120	30	-1	60	1.87	0.02	0.00
609191	4298255	workings of approx. 2m wide zone. Grab sample taken	320719	0.33	330	80	430	90	3.35	2.16	0.24

608015	4301239	disseminated copper in altered bleached friable sandstone as a grab sample	320720	0.73	30	-10	-1	10	0.14	0.00	0.00
608866	4300359	grab sample from outcrop	320722	0.22	60	-10	-1	10	0.55	0.00	0.01
610159	4298273	shallow scrape in ridge 4-m wide zone ferruginousgrab sample	320724	0.71	30	160	130	130	4.97	4.64	0.17
609530	4299745	disseminated copper sampled in face 1x 1m metre face sample	320726	0.68	40	-10	-1	10	1.07	0.00	0.00
609502	4299762	Copper in fallen block. Seems to be 30 - 40 cm zone	320727	0.56	40	-10	-1	10	1.94	0.00	0.00
609304	4299812	oxidized narrow zone grab sample	320728	0.53	140	-10	-1	20	1.23	0.06	0.01
610159	4298273	second dump sample with dark fine grained base metal and copper	320730	0.96	50	160	280	60	17.01	2.93	0.33
607989	4301233	copper in altered sandstone	320731	0.61	30	10	-1	10	0.65	0.02	0.00
609463	4299812	10 m above gps point is o/crop of copper. Grab sample	320738	0.54	40	-10	-1	10	0.23	0.00	0.00
609836	4299750	small scrape. Possibly copper. Grab sample	320746	0.55	310	10	-1	80	0.69	0.00	0.00
609856	4299428	1mX1m face sampling of copper in boulder	320759	0.3	50	-10	-1	10	0.47	0.00	0.00
608005	4301233	0.5m upper zone copper rich	320761	0.32	80	-10	-1	20	0.33	0.00	0.00
608156	4301028	20cm copper zone large clots of malachite	320763	0.57	50	-10	-1	20	0.55	0.00	0.00
608148	4301102	copper present approx. 0.5m exposed	320764	0.68	30	-10	-1	40	0.45	0.00	0.00
608148	4301102	dk metallic sulphide? In bedding plane. Not abundant below copper zone	320765	0.27	2990	-10	-1	60	0.18	0.00	0.01
608236	4301969	approx. 0.75m zone with copper ingrab sample	320766	0.44	40	-10	-1	10	0.51	0.00	0.00
608735	4300475	40cm wide zone of possible copper at base of cliff	320767	0.58	70	10	-1	20	1.76	0.02	0.00
608775	4300451	Possible fallen block? Grab sample	320768	0.44	50	-10	-1	10	2.55	0.00	0.04
609484	4299769	float in creek copper disseminated in wall rock sampled	320769	0.7	40	-10	-1	10	0.11	0.00	0.00
610181	4297576	5 - 10 cm zone of oragnics within adit uranium mine.	320772	0.49	30	250	820	1620	0.01	0.79	0.01
608831	4300028	1m x 1m face sample in trench. Sampled west wall	320773	0.55	270	-10	-1	40	2.37	0.00	0.00
607644	4301028	copper in outcrop grab sample	320774	0.56	50	1190	290	10	4.73	36.30	0.04
608871	4300042	0-1m	320776	0.58	150	-10	-1	40	1.42	0.03	0.00
608871	4300043	1 – 2m	320777	0.51	130	20	-1	40	1.60	0.72	0.00
608872	4300044	2 - 3.5m (3.5 - 4.5m obscured),	320778	0.42	90	10	-1	40	0.16	0.02	0.00
608882	4300044	( offset 10 m to the east)4.5-5.5m	320779	0.23	90	-10	-1	40	0.26	0.00	0.00

608883	4300045	6.5 - 7.5m	320781	0.77	80	-10	-1	40	0.58	0.03	0.01
608883	4300046	7.5- 8.5m	320782a	0.99	140	-10	-1	30	0.49	0.00	0.00
608893	4300046	8.5 - 9.5m offset 10 metres to east	320783	0.45	100	-10	-1	30	0.35	0.00	0.01
609807	4299459	pale bleached sandstone exposed approx. 10cm zone	320785	0.35	120	-10	-1	10	0.39	0.00	0.00
608823	4300079	Approx. 1m at base. 10 m down from top of outcrop 1cm clots of malachite and azurite.	320786	0.61	60	10	-1	30	2.64	2.12	0.03
610691	4297601	approx. 20 cm wide in small scrape with red/brown clotspresent	320789	0.73	1080	60	130	150	0.03	0.28	0.04
610681	4297600	sooty v fine grained poorly sorted sst top of hill	320790	0.43	260	90	-1	100	0.05	0.11	0.04
608860	4300263	cu in ferruginous zone as grab sample	320791	0.44	70	-10	-1	10	0.58	0.00	0.00
610181	4297576	sample outside uranium adit	320792	0.61	30	70	270	410	0.01	0.31	0.00
610181	4297576	sample outside uranium adit	320792	0.61	30	70	270	410	0.01	0.31	0.00
608004	4299566	pale bleached sandstone float	320793	0.5	110	-10	-1	10	0.15	0.00	0.00
608883	4300284	face sampling of possibly fallen block about 1m thick runs acrossgulley	320795	0.36	50	-10	-1	10	1.87	0.00	0.00
611017	4298037	on edge of fault disseminated copper in sandstone	320797	0.48	30	-10	-1	10	0.56	0.00	0.00
608839	4299491	Grab sample of copper in float rock	320783a	1.3	100	-10	-1	460	4.18	0.00	0.00

Samples listed are greater than 0.1% copper, 0.1% Pb, 0.1% Zn 100ppm U: (negative numbers are below detection limits) Analytical results by ALS laboratories Vancouver following sample preparation in Reno Nevada. Analysis by acid digest with ICP OEM determination.

JORC TABLE 1

Section 1 Sampling Techniques and Data

Criteria	Explanation
Sampling techniques	The samples were collected as outcrop rock chip grab samples and continuous channel rock chip samples. Equipment used was predominately hand held hammer with the collection of rock fragments within a gouge or track of up to 10 cm wide for the channel sampling. No prescriptive methodology has been employed in grab samples however where possible one or more rock fragments over an area of 10cmx10cm has been taken.
Drilling techniques	No drillinghas been conducted
Drill sample recovery	No drillinghas been conducted.
Logging	Brief descriptions of samples have been collected in field notes but not to a level of detail that would support mineral estimation,miningstudies and metallurgical studies.
Sub sampling techniques and sample preparation	Every effort was made to remove visual sampling bias. No check or repeat samples have yet been submitted for analysis. The complete sample collected was submitted to the laboratory for analysis. Each sample was weighed at the preparation laboratory and the weights recorded along with analytical results. No specific quality control procedure has been adopted for the collection of the samples other than due care exercised to maintain an unbiased and uniform sample as possible. Samples were shipped to ALS laboratories in Reno Nevada for drying, pulverizing and splitting to prepare a pulp of approx. 200 grams which was then shipped to ALS laboratories in Vancouver for analytical determinations.
Quality of assay data and laboratory tests	Average sample weight submitted for prep was 0.8kg with a range from 0.2kg to 1.4kg. Analysis was by acid digestion with ICP-OES determinations. Samples were pulverised to minus 75 microns before a split was taken and sent ALS Vancouver for analysis. This is an accepted industry analytical process appropriate for the nature and style of mineralisation under investigation. No company generated blanks or standards were incorporated into the sampling procedure. ALS undertook their own internal checks and blanks.
Verification of sampling and assaying	No verification work has been conducted yet. This will be in the forward work programmes now that the analytical results from this initial sampling are known. No independent or alternative companyhasyet been engaged to verifyresults.
Location of data points	All samples sites have been located using a hand held GPS unit and cross checked onto aerial photographs where relevant. The GPS recorded locations used the WGS 84 datum Zone 12 North. Accuracyis limited to approx. 4 metres.
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 spacingand distribution is not relevant at this time
Orientation of data in relation to geological structure	Wherever possible channel sampling across stratigraphy has been perpendicular to bedding and where sampling is in the plane of bedding the sampling has been continuous from either start to end of identified mineralisation or continuous from start to finish of outcrop exposure. In some instances sampling has been off set or disrupted due to limited access or obscured outcrop. Thus has been noted accordingly.
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 sealed lids for transportation to SGS sample preparation in Reno, 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

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#169 inclusive and within Grand County,Utah USA. Theyare 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. Some drill holes have also been identified near the uranium adits and incline shaft in the far southern region of the claims area 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 and zinc 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. There is an also recognised zone of reduced beds where pyrite is present and in some instances mixed zones of partial base metal sulphides in association with oxides. Reports from other workings close by included silver; however no silver above background has yet been identified in sampling. This is a recognised style of mineralisation and one that is common to the Moab district of Utah USA. The uranium is within organic layers of variable thickness but generally cm’s in width within the Salt wash sandstone channels. There is a separate genesis assumed for the uranium to the base metals and copper found on the ridge itself.
Drill hole Information	No drillingconducted
Data aggregation methods	Aggregation of samples has only occurred in summary reporting in this release. No aggregation of actual samples material has takenplace.
Relationship between mineralisation width and intercept lengths	The mineralisation is strata bound and wherever possible sampling has either been along the bedding plane where exposed or normal to the stratigraphy to estimate where possible across true rather than apparent width. There is no guarantee that all channel sampling represents true width as in some instances exposure was limited or a trulynormal section was inaccessible.
Diagrams	Attached to the release is a map highlighting the location of assay results with labels attached to those above 1% copper. This map sufficiently shows the location of the tabled results and includes appropriate coordinates and scale bar. Datum is WGS83 zone 12 North.
Balanced reporting	The report to which these results are attached has identified the number of samples taken, the number above a cut off of 0.1% copper and the number of samples considered by the company to be “ high grade” i.e. above 1.0% copper . Not all 83 samples have been presented in this release; however the summary of data is considered to be representative of both the distribution and tenor of grade. Other than lead zinc and uranium, additional elements have not been included in the release as the focus for the exploration is copper and lead and zinc have only been mentioned where the analysis was considered as “high grade” i.e. above 1% or where it was in association with a copper sample result. There is however elevated cobalt, manganese and in the case of the uranium, an associated elevation in vanadium response in some samples. Further evaluation into the significance of these results is ongoing.
Other substantive exploration data	The evaluation of old workings, previous mining activity and interpretation of satellite imagery is ongoing. At this stage the sample results in this release simply relate to the surface sampling as it stands. Further geological work includingdetailedprospect scale mappingand verification of samples and

sample sites will be needed to improve confidence in the results.

Further work

These results will need to be verified in the field and duplicate test work conducted to ensure repeatability. In addition first phase drilling will need to be done to determine the sub surface nature and extent of the disseminated copper within the sandstones. Initial metallurgical test work will also need to be conducted to give first indications of the potential to recover copper identified within the mineralised rocks.

The information in this announcement 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 and is a Member of The Australian Institute of Mining and Metallurgy, with over 25 years’ experience in the mining and resource exploration industry. Mr Holden has sufficient experience, as to qualify as a Competent Person as defined in the 2012 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 information in the form and context in which it appears.

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.

.