ION VIDEO LTD — Capital/Financing Update 2014

Mar 25, 2014

ASX ANNOUNCEMENT

26 March 2014

Firestrike extends copper zones, defines additional prospects at Copper Ridge.

The Company is pleased to announce that it has discovered additional copper in outcrop 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. The work completed has resulted in defining the Tibbitts, Umkay and Mealey East prospects.

Mapping at the site where a previous single grab sample returned 10.5% copper[i] has uncovered a zone of up to 16 metres wide with both vein and disseminated copper throughout. This Prospect (Tibbits) has a single small adit at the base of the slope however the main zone above does not appear to have evidence of any previous mining.

To the west of the Harrison prospect, copper is also traced in a high grade zone of up to 4 metres wide as identified by abundant malachite and azurite in fissures, fractures and disseminated into the wall rock. This zone (Umkay prospect) is over 400 metres long and has been intermittently worked as a number of shallow scrapes, where presumably only the material visually determined to be rich in copper has been hand-picked and sent off site for smelting as early as the turn of last century.

Visible copper and base metal sulphides were also found within sandstone along the range front on the north facing scarp of the copper ridge below the Harrison prospect. Additional copper zones are present for approximately 2,000 metres from the Harrison prospect to the Xaz prospect. To date the copper has been collected at surface in outcrop where in situ sandstone has been identified, or in float material that appears to have been from the cliffs above, but the exact location is yet to be confirmed. Results of this outcrop sampling are expected soon.

Copper is seen in visible fissures and fractures within sandstone to the east of the Mealey prospect and further work will determine if there is additional copper between this prospect and the Xaz, some 2,500 metres to the northwest.

In general, the mapping has confirmed a strong correlation between faulting and copper mineralisation with the splays from the range front fault invariably mineralised as fracture and fissure fill with disseminated copper extending into the wall rock either side.

1 Results as released to the ASX 6th February 2014

Assays from this work are due before the end of the quarter and is expected to confirm the presence of copper and other base metals within the outcrop and float rock sampled confirming the new prospects identified.

The company is now looking to develop a follow up programme using low impact narrow diameter diamond drilling on its prospects as a pre cursor to resource drilling using larger diameter diamond drilling rigs. The resource drilling requires permits from the BLM and planning for the permits along with improvement to roads to enable drilling rigs to access the site. To expedite this process and to ensure the most appropriate drill locations are selected the low impact drilling is scheduled to start shortly.

Further announcements on the commencement of the drilling and initial outcomes are anticipated over the coming weeks.

==> picture [365 x 274] intentionally omitted <==

==> picture [343 x 31] intentionally omitted <==

Copper as fracture fill (top right) and as disseminated in sandstone as seen below The Harrison Prospect.

During field evaluations, the Company’s field staff have also identified uranium in historical workings to the southeast of the main copper ridge. Verifying the presence of gamma radiation with a gamma scanner, high cps count zones have been identified in the workings within dark organic layers ranging from less than 10 centimetres to nearly a metre hosted in channels in the Salt wash sandstones. The organic horizon that appears to host uranium could also be elevated in vanadium, and this will also be confirmed by the assays results.

==> picture [429 x 255] intentionally omitted <==

==> picture [16 x 237] intentionally omitted <==

==> picture [430 x 270] intentionally omitted <==

Uranium mines to the southwest of Mealey prospect.

Whilst the Company remains fully focused and committed to developing its copper prospects, identifying uranium and other base metals adds strength to the prospects where opportunities exist. This may add credits to the principal mineral extraction and may assist in improving any future economic assessment.

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.

.

Map showing prospect locations, current claims in black outline and results from previous sampling by Firestrike reported to the ASX in November 2013 and February 2014. Intervals shown are either the results of channel sampling or grab/outcrop samples above 0.5% copper. Previous sample sites in black, and recent mapping of copper in outcrop or float in red.