Iocaste Ventures Inc. announced that Mr. Navjeet (Bob) Singh Dhillon has resigned from the board of directors of Iocaste and as a member of its audit committee, effective immediately. The Board has appointed Mr. Lorne Michael Sugarman, a director and the president, chief executive officer, chief financial officer and corporate secretary of Iocaste, as an audit committee member. The Audit Committee currently consists of Mr. Michael James Perkins, Mr. Andrew Gabriel Kiguel, and Mr. Sugarman.

Each member of the Audit Committee is financially literate, with Mr. Perkins and Mr. Kiguel comprising its independent members.