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Geopacific launches AU$4.5m IPO

Media Release
22 November 2005

Geopacific launches AU$4.5m IPO

Advanced gold/copper prospects in Fiji

Team’s discovery and/or project development experience includes Tuvatu, Granny Smith, Osborne, Girilambone and Sepon


Geopacific Resources NL, which has been exploring in Fiji since 1986 and made the discovery of the Tuvatu gold deposit sold to Emperor Mines in 1996, has launched its IPO to raise AU$4.5 million with a new portfolio of advanced Fiji gold/copper prospects.


The offer, which opened in New Zealand on November 18, is for up to 22.5 million shares at issue price of 20 AU cents.

The company has a highly experienced team of directors and management who are well-known in the resource sector and who have been involved in Fiji for many years including having business operations there. They have discovery experience in exploration successes leading to mine developments including Granny Smith, Girilambone and Oxiana’s Sepon project.

All the Geopacific projects are on Fiji’s main island Vitu Levi with full infrastructure available and close. The projects can be reached by ordinary car and don’t need 4WHD access. Two of the projects are within 30 km of Nadi. The projects contain advanced prospects with drill targets covering a range of styles of potentially economic gold and copper/gold mineralisation.

Key people

Russell Fountain (Chairman)
Ex-President Phelps Dodge Exploration, responsible for global exploration. Discovery team for Granny Smith, Osborne, Girilambone, Waihi, & Lerokis- Fiji exploration experience. Managing Director Finders Capital.

Ian Pringle (Managing Director)
Director of Silver Standard Australia, Ex Cobar Mines and Oxiana Exploration Manager. Due diligence and resource definition at Sepon Project, Laos.

Bill Brook (Director)
30 years industry experience as a geologist and managing director.
Discovered the Tuvatu gold deposit in Fiji.

Harvie Probert (Director)
CEO of the Fiji Gas Co. Ltd, Board member of Fiji Revenue and Customs Authority, Mining Council of Fiji.

Ian Simpson (Director)
33 years association with the exploration industry in Fiji. MD of Pacific Crown Aviation (Fiji) Ltd.

Pre-IPO shareholders and seed capital

The top 20 pre-IPO shareholders include Owen Hegarty who has 3.9 per cent of the pre-IPO issued capital and Otter Gold Mines Ltd, a wholly owned subsidiary of Newmont Australia Limited, which is the second largest pre-IPO shareholder with 9.4 per cent (both fully paid up).

Finders Capital ltd has 8.6 per cent of the pre-IPO issued capital, fully paid up. In 2004, Finders Capital entered into a technical assistance and funding arrangement with Geopacific and has contributed AU$330,000 in seed capital. As a result, Finders Capital will become a substantial shareholder of Geopacific through a progressive exercise of unsecured convertible notes.*
The shares offered in the offer are not guaranteed by any of the shareholders of Geopacific.

Key projects

Geopacific Resources owns or has interests in four gold or gold and base metal exploration projects on the island of Viti Levu.

- Nuku in the central eastern part of the island north northwest of the capital of Suva- targeting skarn and carbonate replacement gold and gold-base metals systems
- Nadi South close to Nadi in the western part of the island – targeting a “blind” porphyry copper gold system and peripheral gold vein targets
- Vuda southeast of the port of Lautoka on the west coast – targeting high-grade vein style epithermal/mesothermal gold
- Rakiraki on the northern coast near Emperor Mines Limited’s operating Vatukoula gold mine – targeting Vatukoula style quartz vein deposits

These projects contain ten already defined individual targets, each with potential for economic discovery and which are either ready for immediate drilling or will be ready after initial inverse polarisation geophysics (IP).

Geopacific will apply recently developed enhancements to geophysical techniques, in particular three dimension modeling of IP which has been credited with major recent discoveries of deposits with similarities to the Fiji targets – such as at Ivanhoe Mines prospect in Mongolia and Kingsgate Consolidated’s prospect in Thailand.

Summary

- A Portfolio of Quality Gold and Copper Projects (map attached separately)
- Fiji has strong gold mining history and good mining environment
- Geopacific Resources has top class technical team and new technology
- Immediate drill targets for high grade gold
- Sustainable drill program with pipeline of targets
- Low cost testing for possible major porphyry Cu-Au system
- Projects close to infrastructure and local workforce experienced in mining

Key offer Statistics

Issue price (per share) 20 AU cents for an offer of up to 22.500.000 shares to raise $4.5 million


Indicative timetable
Offer open in New Zealand 18 November 2005
Offer expected to close 16 December 2005
Proposed allotment date 23 December 2005
Trading of securities on ASX expected 13 January 2006

Number of shares to be allotted
Minimum Maximum
11,500,000 22,500,000

Amount to be raised
Minimum Maximum
AU$2,300,000 AU$4,500,000

Number of shares on listing
Minimum Maximum
35,030,505 46,030,505

For free copies of the New Zealand investment statement and the Australian prospectus, please contact:

Ian Pringle Doug Macdonald
Geopacific Resources Capital Group
Tel.: +61 2 9699 7311 Tel.: +61 4 2425 5959
556 Crown Street
Surry Hills
NSW 2010
Australia
Media Release
22 November 2005

Geopacific launches AU$4.5m IPO

Advanced gold/copper prospects in Fiji

Team’s discovery and/or project development experience includes Tuvatu, Granny Smith, Osborne, Girilambone and Sepon


Geopacific Resources NL, which has been exploring in Fiji since 1986 and made the discovery of the Tuvatu gold deposit sold to Emperor Mines in 1996, has launched its IPO to raise AU$4.5 million with a new portfolio of advanced Fiji gold/copper prospects.


The offer, which opened in New Zealand on November 18, is for up to 22.5 million shares at issue price of 20 AU cents.

The company has a highly experienced team of directors and management who are well-known in the resource sector and who have been involved in Fiji for many years including having business operations there. They have discovery experience in exploration successes leading to mine developments including Granny Smith, Girilambone and Oxiana’s Sepon project.

All the Geopacific projects are on Fiji’s main island Vitu Levi with full infrastructure available and close. The projects can be reached by ordinary car and don’t need 4WHD access. Two of the projects are within 30 km of Nadi. The projects contain advanced prospects with drill targets covering a range of styles of potentially economic gold and copper/gold mineralisation.

Key people

Russell Fountain (Chairman)
Ex-President Phelps Dodge Exploration, responsible for global exploration. Discovery team for Granny Smith, Osborne, Girilambone, Waihi, & Lerokis- Fiji exploration experience. Managing Director Finders Capital.

Ian Pringle (Managing Director)
Director of Silver Standard Australia, Ex Cobar Mines and Oxiana Exploration Manager. Due diligence and resource definition at Sepon Project, Laos.

Bill Brook (Director)
30 years industry experience as a geologist and managing director.
Discovered the Tuvatu gold deposit in Fiji.

Harvie Probert (Director)
CEO of the Fiji Gas Co. Ltd, Board member of Fiji Revenue and Customs Authority, Mining Council of Fiji.

Ian Simpson (Director)
33 years association with the exploration industry in Fiji. MD of Pacific Crown Aviation (Fiji) Ltd.

Pre-IPO shareholders and seed capital

The top 20 pre-IPO shareholders include Owen Hegarty who has 3.9 per cent of the pre-IPO issued capital and Otter Gold Mines Ltd, a wholly owned subsidiary of Newmont Australia Limited, which is the second largest pre-IPO shareholder with 9.4 per cent (both fully paid up).

Finders Capital ltd has 8.6 per cent of the pre-IPO issued capital, fully paid up. In 2004, Finders Capital entered into a technical assistance and funding arrangement with Geopacific and has contributed AU$330,000 in seed capital. As a result, Finders Capital will become a substantial shareholder of Geopacific through a progressive exercise of unsecured convertible notes.*
The shares offered in the offer are not guaranteed by any of the shareholders of Geopacific.

Key projects

Geopacific Resources owns or has interests in four gold or gold and base metal exploration projects on the island of Viti Levu.

- Nuku in the central eastern part of the island north northwest of the capital of Suva- targeting skarn and carbonate replacement gold and gold-base metals systems
- Nadi South close to Nadi in the western part of the island – targeting a “blind” porphyry copper gold system and peripheral gold vein targets
- Vuda southeast of the port of Lautoka on the west coast – targeting high-grade vein style epithermal/mesothermal gold
- Rakiraki on the northern coast near Emperor Mines Limited’s operating Vatukoula gold mine – targeting Vatukoula style quartz vein deposits

These projects contain ten already defined individual targets, each with potential for economic discovery and which are either ready for immediate drilling or will be ready after initial inverse polarisation geophysics (IP).

Geopacific will apply recently developed enhancements to geophysical techniques, in particular three dimension modeling of IP which has been credited with major recent discoveries of deposits with similarities to the Fiji targets – such as at Ivanhoe Mines prospect in Mongolia and Kingsgate Consolidated’s prospect in Thailand.

Summary

- A Portfolio of Quality Gold and Copper Projects (map attached separately)
- Fiji has strong gold mining history and good mining environment
- Geopacific Resources has top class technical team and new technology
- Immediate drill targets for high grade gold
- Sustainable drill program with pipeline of targets
- Low cost testing for possible major porphyry Cu-Au system
- Projects close to infrastructure and local workforce experienced in mining

Key offer Statistics

Issue price (per share) 20 AU cents for an offer of up to 22.500.000 shares to raise $4.5 million


Indicative timetable
Offer open in New Zealand 18 November 2005
Offer expected to close 16 December 2005
Proposed allotment date 23 December 2005
Trading of securities on ASX expected 13 January 2006

Number of shares to be allotted
Minimum Maximum
11,500,000 22,500,000

Amount to be raised
Minimum Maximum
AU$2,300,000 AU$4,500,000

Number of shares on listing
Minimum Maximum
35,030,505 46,030,505

For free copies of the New Zealand investment statement and the Australian prospectus, please contact:

Ian Pringle Doug Macdonald
Geopacific Resources Capital Group
Tel.: +61 2 9699 7311 Tel.: +61 4 2425 5959
556 Crown Street
Surry Hills
NSW 2010
Australia

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