Quarterly Activities Report

• Field activities at the Christmas Gift prospect in the Everleigh Well area exposed multiple spectacular gold bearing quartz veinlets within a narrow, sheared basalt-interflow sediment contact exposed in a shallow sample trench.
• Gold collected by prospectors from a crushed bulk sample of ore bearing rock, including the quartz
  veinlets from the sample trench, produced a 9.5oz gold doré bar.
• Previous high-grade rock chip assay results returned from the outcropping gold bearing veinlets included: 18,207g/t Au, 18,179g/t Au, 16,776g/t Au, 16,659g/t Au, 14,780g/t Au
• Excavation of multiple shallow surface sample pits along the trend exposed and extended the shear
  structure over an approximately 50m strike length that is open.
• Additional high-grade rock chip assay results returned from the newly exposed sample trench include: 158.00g/t Au, 93.50g/t Au and 43.20g/t Au.
• A maiden multi-hole diamond drill program commenced during the June Quarter to test the strike extent of the gold bearing structure over 50m and evaluate the potential for parallel hanging and foot wall structures to the Christmas Gift shear.
• Iceni raised $1.7 million (before costs) in a share placement and received $1.8million from the sale of
  surplus assets for a total cash injection of $3.5million