April 25, 2014 1:07 AM ET

Metals and Mining

Company Overview of ICN Resources Ltd

Company Overview

ICN Resources Ltd. engages in the acquisition, exploration, and development of precious metal deposits, primarily gold in Nevada. The company owns interests in the Hog Ranch project, which consists of 238 unpatented lode mining claims that cover approximately 4,917 acres and a mining lease on approximately 592 acres of privately owned fee land that are located Washoe County, Nevada, as well as owns interests in the Dunes property consist of 136 unpatented mining claims in Nevada. It also has rights to acquire a 100% interest in the JJ property that comprises 20 mining claims and is located in Humboldt County, Nevada; and a 100% interest in the Rockland-Pine Grove Property, which includes 111...

789 West Pender Street

Suite 1030

Vancouver, BC V6C 1H2






Key Executives for ICN Resources Ltd

Chief Executive Officer
Age: 64
Chief Financial Officer and Corporate Secretary
Age: 29
Vice President of Business Development
Vice President of Exploration and Acquisitions
Corporate Director
Age: 52
Compensation as of Fiscal Year 2013.

ICN Resources Ltd Key Developments

ICN Resources Ltd, Annual General Meeting, Oct 15, 2012

ICN Resources Ltd, Annual General Meeting, Oct 15, 2012., at 10:00 Pacific Daylight. Location: ICN at Suite 1980,.

ICN Resources Ltd Identifies New Exploration Targets at Goldfield Project

ICN Resources Ltd. provided the following update regarding on-going exploration work at the Goldfield Bonanza Project. The project, under option from Lode Star Gold Inc., is located in the historic Goldfield mining district of Nevada. The Goldfield district is well known for multi-ounce, bonanza-grade gold ores and has recorded historic production in excess of 4.1 million ounces of gold at an average grade of greater than 17 g/t Au (0.5 opt). ICN recently received a final report from Minerals Exploration & Environmental Geochemistry that interprets results from an orientation bio-geochemical survey conducted over portions of the Goldfield project area. Bio-geochem is a technique involving the sampling of plant material on an established survey grid, much like a grid that would be utilized for a conventional soil survey, the difference being that local plant material is sampled as opposed to standard B or C horizon soil material. In an arid environment like that found at Goldfield, plant roots extend many times greater below surface than their actual surface height. Elements mobilized in a hydro-geochemical sub-surface environment can be absorbed into plant material via their root system, yielding information on sub-surface metal anomalies located far deeper than a conventional soil survey might yield. The orientation survey covered approximately 15% of the surface claim area, but this area encompasses 85% of the ICN drill collars. Results of the orientation survey are positive, with many of the anomalies open at the ends of the survey grid, or mid-line between widely-spaced lines, indicating that completing bio-geochemical sampling over much of the remainder of the property could yield additional positive results. The orientation survey covered most of the areas where ICN completed drilling in 2011 and, consequently, ICN has information regarding sub-surface gold values. A large and very distinct bio-geochemical anomaly was found over the Church discovery zone, validating the technique, since the discovery hole, ICN-003, produced an intercept of 45.6 metres of 96.3 g/t beneath 16.9 m (55 ft.) of post-mineral cover. Similar sized bio-geochemical anomalies have been located in four other undrilled areas of the property. These areas include: 1) an area immediately to the east of the Church discovery zone, coinciding with an untested CSAMT anomaly, 2) several grouped anomalies lying immediately to the northwest of the Newmont Lode and the January-White Rock shaft, indicating an extension to historically mined Au mineralization, 3) a northwest trending series of anomalies extending 400 metres to the northwest of the Church discovery zone, and 4) three separate anomalies located to the west of the Silver Pick shaft and to the east of the Phelan shaft in the northern portion of the claim group. A map of the bio-geochem anomalies is shown on the ICN website along with results from the ICN drill holes, classified by total grade times thickness, as an indicator of the strength of the gold mineralization encountered at depth. A good correlation exists between mineralized drill holes and identified anomalies throughout the survey area. ICN drill holes in the northern survey area fall outside of the stronger anomalies, suggesting remaining exploration potential to the north. In the Sheets-Ish area, the only well mineralized drill holes are located in or immediately adjacent to the larger anomaly in the area, including drill hole ICR-044 which intercepted 13.7 m of 6.63 g/t starting 12.2 m below surface. In the southern survey area (central portion of the property), southwest of the January-Combination open pit and within the so-called NE Corridor, mineralized drill holes demonstrate good correlation with the bio-geochemical anomalies and, furthermore, all unmineralized or very weakly mineralized drill holes fall entirely outside of the identified anomalies.

ICN Resources Ltd Auditor Raises 'Going Concern' Doubt

ICN Resources Ltd filed its Annual on Apr 30, 2012 for the period ending Dec 31, 2011. In this report its auditor, Davidson & Company, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

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