The Company is the first to have extensively tested the Castlemaine Fault and the Company understands that it has not previously been intersected with a single deep diamond drillhole. The 50m wide Castlemaine Fault runs for 30km through the middle of the Company's tenement package, this fault intersects the majority of the Company's major structural, magnetic and soil anomaly targets: TOTK, North-1, Claypan, Danjo NE and Guyer. Hole FMDD0032 demonstrates that the Castlemaine Fault has the potential to carry gold mineralisation, which could manifest many times along the 30km segment of this structure within the 14 Mile Well Project.

The results of the extensive exploration drilling conducted by Iceni to date on its tenement package that lies within a 50km radius of a number of world class gold mines is demonstrating the exploration potential of the 14 Mile Well Project.