10 % of herron res deal free carried

This looks like it will add substantial value to ITC. Might be a cheap entry now other than HRR.

11 April 2005

Kalgoorlie Nickel Project

Further to the company’s ASX release of 30 March, 2005 giving details of Impress
Ventures Ltd involvement in the Kalgoorlie Nickel Project with Heron Resources
Limited (ASX Code: HRR), ITC wishes to advise that following a number
shareholder and investor queries it would like to outline the history of its
involvement.

Impress Ventures Ltd was previously called Merritt Mining NL and was involved in
mineral exploration in Western Australia during the 1990’s. The 10% free carried to
production interest is the result of the sale of a group of tenements known as Siberia
Tank to Centaur Mining Ltd in 1998. The tenements (and the attached free carry)
were subsequently sold to Heron Resources Limited in 2003.

Following the recent announcement by Heron Resources Ltd and Inco Limited
concerning the Kalgoorlie Nickel Project, as well as a number of queries from
investors and shareholders, Impress is seeking independent advice as to the potential
value of the free carried interest.

Upon receipt of this information it will be made available to shareholders.

For further information, please contact Douglas Jendry, Managing Director on
(08) 9214 2500.