Mr. Carl Hering reports

ICN REPORTS INITIAL DRILL RESULTS FROM GOLDFIELD PROJECT

ICN Resources Ltd. has released initial drill results from its current flagship project, the GF Bonanza project, which is under option from Lode Star Gold Inc., a private Nevada corporation, and is located in the historic Goldfield mining district of Nevada.

Core hole ICN-003 intercepted 45.6 metres of 96.3 grams per tonne gold (uncut).

The intercept contains an upper portion assaying 1,454.3 g/t Au over 2.9 metres, followed by a lower-grade interval of 42.7 metres of 4.2 g/t Au (see attached table). If the three highest-grade intervals of 1.22 metres at 2,710 g/t Au (79.1 ounces per ton), 1.68 metres at 541 g/t Au (15.8 ounces per ton) and 1.98 metres at 57 g/t Au (1.6 ounces per ton) are cut to one ounce per ton (34.3 g/t), the intercept becomes 45.6 metres of 5.1 g/t (cut to one ounce per ton).

        SUMMARY CORE HOLE RESULTS

           From        Interval      Au
Hole ID      (m) To (m)      (m)   (g/t)

ICN-001    24.1   43.9     19.8    0.65
           51.5   74.7     23.2   10.51
including  59.8   61.6     1.83   119.3
           80.5  123.2     42.7    1.40
          140.9  149.1      8.2    1.03

ICN-002    21.0   24.1      3.0    1.79
           36.3   45.4      9.1    4.08
           55.8   69.8     14.0    0.55

ICN-003    16.9   62.5     45.6    96.3
including  16.9   19.8      2.9  1454.3
and        19.8   62.5     42.7    4.18

ICN-004    22.1   63.0     40.9    1.41

The one-ounce-per-ton cut-off was selected because this is the historic average grade mined during the early history of the district (1903 to 1914), and it should be noted that there is no statistical basis for the selection of this value. Multiounce gold ore was mined historically in the Goldfield district, with some stopes carrying values in excess of 1,000 ounces per ton Au.

Hole ICN-003 intercepted an upper high-grade zone of mineralization followed by a longer interval of lower-grade material, at shallow depth, beneath postmineral cover. The high grade encountered is located at the contact of the postmineral cover rock and the underlying units typical of the mineralized sequence in the main Goldfield district. The fact that the third hole located an example of classic main-district-style mineralized material occurring just beneath postmineral cover confirms ICN's exploration strategy that postmineral rocks (previously interpreted as contemporaneous with mineralization) do in fact mask high-grade quartz-alunite ledges similar to what was mined in this historic plus-four-million-ounce district.

Carl Hering, president and chief executive officer of ICN Resources, commented: "These initial results are extremely encouraging. While we are targeting high-grade mineralization in our overall exploration program, it was not anticipated that we would be this successful in the first few drill holes. It is necessary to complete additional drilling in order to fully understand the significance of these initial results. Nonetheless, it is important to recognize that the results do validate our exploration model in the district, exploring for high-grade main-district-style mineralization under the postmineral cover. ICN is continuing exploration with both a core rig and a reverse circulation rig currently on site, and numerous untested exploration targets remain both north and south of the Church area."

The core program, still in progress, was designed to twin historic, non-43-101-compliant drill holes, as well as angle across the old vertical holes (Hole ICN-004) to facilitate geologic interpretation of the shallow Church vein zone. Holes ICN-001, 002 and 003 are all twins of historic, vertical, conventional rotary drill holes and lie within 50 metres of each other. Hole ICN-004 was a west-directed angle hole, drilled from the same pad as hole ICN-003 which crossed the historic, vertical holes.

Hole ICN-001 also encountered a multiounce intercept of 1.83 m of 119.3 g/t Au included within a longer interval of 23.2 m of 10.5 g/t or 3.5 g/t cut (see attached table). In the three historic TG holes (1979 to 1981) twinned by ICN, the mineralized intercepts average 1.5 metres, and the highest-grade interval reported is 13 g/t Au (0.38 ounce per ton). The interval in hole TG-113 that corresponds to the 2.9 m of 1,454 g/t Au encountered by twinning with ICN-003 reported 3.05 metres of 4.5 g/t Au. It is presently unclear why the new ICN core hole twins do not match grades in the historic holes particularly well, nor why the ICN holes encountered several multiounce intervals where none were reported in the historic holes. Possible reasons for the poor grade correlation between the twin holes may be the result of the generally known poor recovery and sampling methodology typical of prereverse circulation, conventional rotary drilling and/or it may reflect the highly variable nature of mineralization in high-sulphidation gold systems of the type found in the Goldfield main district. More work is currently being completed to resolve this discrepancy and to determine the potential significance of the high-grade zones encountered in ICN's initial drilling.

It should also be noted that check assays on the entire interval reported herein for hole ICN-003 were completed at a second laboratory prior to releasing results as a precautionary measure given the high-grade mineralization. All of the original results compare favourably with the check assay results, except for the highest-grade interval containing 2,710 g/t Au (79.1 ounces per ton). The check assay on this sample returned a value of 2,410 g/t Au (70.3 ounces per ton). Native gold, which was not common in the historic district, was identified in the core from this interval and may account for the discrepancy. Additional assay work is required (metallic screen assay in process) in order to determine a more precise value. The second-highest-grade sample, which originally assayed 541.7 g/t Au (15.80 ounces per ton) by gravimetric method, reassayed at the second lab as 553.0 g/t Au (16.13 ounces per ton), thus indicating less of an issue with particulate gold in this interval.

All sampling on the GF Bonanza project follows best-practice 43-101-accepted principles and is being conducted by ICN personnel or consultants. Original assays were completed at ALS Chemex in Reno, Nev., and the check assays were completed by American Assay, also located in Reno, both of which are certified laboratories. At both labs, an initial fire assay with atomic-adsorption finish was completed for all samples, and subsequently, for samples in excess of 10 g/t, a conventional gravimetric assay was conducted. For the higher-grade samples reported herein, at least three different samples (pulps), separately prepared from the original coarser material, were analyzed. ICN randomly inserts standards, blanks and duplicate control samples to monitor laboratory performance. Results reported herein have been checked and undergone rigorous quality control review.

Tim Percival, CPG and a PGeo, a qualified person as defined by National Instrument 43-101, and a consultant to the company, has reviewed and approved the technical information contained in this news release.

We seek Safe Harbor.