ICN Icn Resources Ltd.

ICN Resources Ltd. (TSX VENTURE:ICN) ("ICN" or the "Company") is pleased to
announce that it has made the second cash payment of US$50,000 and issued
500,000 units to Lode Star Gold Inc. ("Lode Star") for the option payment on
Lode Star's Goldfield Bonanza Project, as per the TSX Venture Exchange approved
Definitive Agreement announced in March 2011 (see ICN news release of March 29,
2011). Each unit consists of one ICN common share and one common share purchase
warrant, with each warrant entitling the holder to purchase one additional
common share of ICN for a period of two years at an exercise price of $0.25. The
warrants issued are subject to a statutory hold period expiring on February 8,
2012.


Goldfield Bonanza Project

ICN recently announced the initiation of a Phase II drill program at the
Goldfield Bonanza Project. The Project, under option from Lode Star, a private
Nevada corporation, 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 oz/t). The first 10
years of reported production in the district (1903 to 1912) produced 2.98 M oz
Au from a total of 1.65 Mt of ore (average grade of 1.81 oz/t or 62 g/t Au),
Nevada Bureau of Mines and Geology Bulletin 78 (1972).


Two drill rigs were mobilized to site two weeks ago to initiate a 20,000 foot
(6,000 metre) Phase II drill program. To date, 9 reverse circulation (RC) holes
and 3 core holes have been completed for a total of 1,120 metres. The first 9 RC
holes have been submitted to the lab for analyses. Both the core rig and the RC
drill will be utilized to follow-up on previous high grade results and to
continue initial testing of both geophysical and exploration targets. The core
rig is expected to complete approximately 5,000 feet (1,500 metres) in 15 holes,
primarily as step out drilling in the high grade Church Zone. Previous drilling
in this area encountered 2.9 m of 1,454 g/t Au followed by 42.7 m of 4.18 g/t Au
in drill hole ICN-003 (see ICN news release on May 17, 2011). In addition, holes
ICN-013 and ICN-014 reported 14.9 m of 164.5 g/t Au, (including 1.4 m @ 1,764
g/t); and 12.0 m of 222.6 g/t Au, (including 2.9 m @ 918 g/t), respectively (see
ICN news release on August 15, 2011). The core program is designed to step out
and expand the mineralization discovered in the Church Zone. The RC drill
program is designed to complete 45 holes for a total of approximately 15,000
feet (4,600 m). This drilling will focus primarily on further testing of
geophysical and exploration targets, as well as to follow-up in other areas of
the property where ore grade mineralization was encountered in the Phase I
program.


Tim Percival, CPG and a P.Geo., a Qualified Person as defined by National
Instrument 43-101 and Chief Geologist for the Company, has reviewed and approved
the technical information contained in this news release.


About ICN Resources

ICN is primarily focused on exploration for volcanic-hosted precious metal
deposits in western Nevada, emphasizing targets with geological similarities to
Sleeper, Sandman, Hollister, Midas and Aurora. ICN plans to explore the feeder
zones associated with large low-grade gold and silver systems, as well as
explore for high grade deposits at the new Goldfield Bonanza Project located in
western Nevada. ICN continues to evaluate opportunities in established
metallogenic belts elsewhere in the United States. The ICN management and
geological team have extensive experience in Nevada and worldwide, utilizing
this experience to generate prime opportunities for ICN shareholders.


On Behalf of the Board of Directors of ICN Resources Ltd.,

Carl Hering, President & CEO

ICN Resources Ltd.

www.icnresources.com

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