icon resources ltd appoints new chairman

Icon Resources Ltd Appoints New Chairman
Icon Resources Ltd (ASX: III) is pleased to announce that Dr Leon Pretorius has accepted the
Boards invitation to take on the role of Icons Non-Executive Chairman, effective from 15
March 2010. Leon has had more than 25 years experience as a director of several successful
listed and privately held resources companies.
The Companys current Chairman, Dr Andrew White will remain on the Board as a Non-
Executive Director until the 2010 Annual General Meeting. The Board takes this opportunity to
thank Andy for his role in getting the company started and guiding it through its formative years.
Andy will remain closely involved with the Company, assisting in project generation, mentoring
and contributing to corporate strategies.
Icons Managing Director Dr John Bishop, says, Leon brings invaluable experience in building
shareholder value in the resources sector. Leons hands-on experience with project and mine
development will appreciably assist getting Icons flagship project, the Mt Carbine tungsten
mine, back into early production.
As an Executive Director of Paladin Resources (now Paladin Energy), Dr Pretorius led the
company through a growth phase that saw the stock price rise from less than $0.01 per share to
more than $1.10 when he resigned in May 2005. He remains a Director of Paladins operating
Company, Langer Heinrich Uranium in Namibia.
During his time as Executive Chairman and later Managing Director of Deep Yellow, the
company has gone from having a market capitalisation of ~$10M with cash of ~$1M in mid-
2005 to presently having a market capital of ~$280M with ~$40M in cash. Dr Pretorius
recently resigned from the Board of Deep Yellow but remains as Managing Director of its
operating Company, Reptile Uranium Namibia.
Combined with improving market conditions following the global financial crisis, Icon will be
using the addition of Dr Pretorius to the Board to significantly ramp up Icons activities. Drilling
at Mt Carbine is currently underway to increase and upgrade the tungsten resource, and pilotscale
testing of bulk samples of ore is planned for 2H10. Drilling has resumed at the Tara tin
project with drilling at the Peel Fault gold project scheduled for 2Q10.
To help fund these ongoing programs, the Company anticipates a fundraising which may include
a Share Purchase Plan. The company should be in a position to announce the issue following
receipt of the expected relief required under ASX Listing Rule 7.