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Icron reports First Quarter 2006 Results

(Not for distribution to United States newswire services or for dissemination in the United States.)

BURNABY, B.C., May 17, 2006 - Icron Technologies Corporation (TSX Venture: IT), the developers of ExtremeUSB, today released financial results for the first quarter ending March 31, 2006.

Highlights:

• Increased Q1 2006 revenues to $1,404,172, representing a 57.0% increase over Q1 2005;

• Added James Skippen, Senior Vice President, Patent Licensing and General Counsel at MOSAID Technologies Inc. to the Board of Directors;

• Cable-Free™ USB, powered by Icron’s ExtremeUSB, received recognition as one of the best 75 new technologies at Consumer Electronics Show (CES) 2006;

• Reduced Q1 2006 operating loss to $90,476 compared to a loss of $167,146 in the same period of 2005;

• Ended Q1 2006 with cash balances of $4,664,597 compared to $1,324,560 in the same period of the prior year.

“We are extremely pleased with the growth of our traditional business, which benefited from new USB 2.0 wired extension solutions that were released last year. In addition, our strategy of evolving our technology from our traditional niche to the mass consumer market has begun with the development of wireless USB products, based on our ExtremeUSB technology,” commented Suresh Singh, President and CEO. “This, in combination with the overall growth of USB in all market segments, is a strong indication of the opportunity for Icron.”

In 2005, the company started shipping, in volume, the world’s first USB 2.0 extension solution over UTP (CAT5) cabling. This is a core part of the company’s strategic growth plan, which includes expanding its ExtremeUSB implementations to other wired implementations such as USB 2.0 over fiber optics, power line, and TCP/IP. Additional fiber-based products were announced at the end of 2005 and will continue to add to the growth of the traditional wired business for 2006.

A recent report by market analyst firm In-Stat predicts the total USB market to double by 2010 with over 2.8 billion devices shipping that year. Out of that total, approximately 280 million (or 10 percent) will be wireless USB devices with the initial volume of product beginning in 2007.

For 2006, the company will focus on two key areas: expanding its distribution for its traditional packaged and OEM products in Asia and other markets and engaging with more partners and customers with wireless USB solutions on a variety of RF platforms.

Icron is in a strong financial position with the necessary resources to fund its operating and capital requirements and to execute on its growth strategies. During the second quarter of 2005 Icron completed a private placement of 2.0 million shares for gross proceeds of $3.6 million, which significantly strengthened its balance sheet.

Financials:

Revenue amounted to $1,404,172 for the three months ended March 31, 2006, compared to $894,210 in the same period of 2005, an increase of 57.0%. The increase in revenue was across almost all product lines. Ranger 1.1 sales continue to be strong during the quarter as they increased 21.5%, to $504,173 from the $414,882 recorded in the first quarter of 2005. Sales of Core 1.1 products increased by 70.4% to $180,167 from the $105,753 reported in the same period of the prior year. USB 2.0 Rangers grew by 67.3%, to $221,299 from the $132,283 recorded in the first quarter of 2005. Sales of the Company’s Rover USB extenders increased by 90.8% to $230,300 from the $120,732 reported in the same period of the prior year.

The net loss amounted to $90,476 or $0.00 per share, in the three months ended March 31, 2006, compared to a net loss of $167,146, or ($0.01), in the same period of 2005.

The Company ended the quarter with cash balances of $4,664,597 compared to $1,328,180 in the same period of the prior year.

Conference Call / Web-cast: May 18, 2006, 10:30 AM ET, 7:30 AM PST

Icron Technologies will host a conference call to discuss the Company's year-end financial results on Thursday May 18, 2006 at 11:00AM EST, 8:00AM PST. Participants are asked to call either 800–814-4857 or 416-644-3416(Toronto).

The conference will also be broadcast live over the Internet and archived through the following link:http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=1495780. Click on this link or copy to your web browser to listen online.

For complete financials please visit www.sedar.com. or www.icron.com.

About Icron Technologies Corp www.icron.com.

Icron Technologies Corporation’s patented ExtremeUSB® technology extends the range of USB in wired environments and enables wireless USB over any RF technology. ExtremeUSB is the only USB-IF compliant extension solution and is deployed globally in a wide range of applications including: industrial automation, medical device, aerospace, KVM and computer networking. ExtremeUSB technology is available in a variety of formats including technology licenses, OEM modules, developer kits, as well as branded and private-label products. The company also provides a range of engineering and development services focused on unique USB connectivity issues."

Icron is a publicly traded corporation and trades under the symbol "IT" on the TSX Venture Exchange. For information on the company and its products, please visit www.icron.com and for detailed financial information visit www.sedar.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release -- including, without limitation, statements regarding financial estimates and future plans and objectives of Icron -- are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

2005 Icron Technologies Corporation. ExtremeUSB®, USB Ranger™ are trademarks of Icron Technologies Corporation.

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