GEOPACIFIC RESOURCES LTD — Capital/Financing Update 2007

Sep 26, 2007

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27 September 2007

The Company Announcements Office Australian Stock Exchange Limited Exchange Centre, Level 6, 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam,

Geopacific commences a new drilling programme at the Qalau and 4300E Prospects, Raki Raki Project, Fiji.

Geopacific Resources NL (ASX: GPR) is pleased to announce that it has started drilling at Raki Raki (Figure 1) where high grade gold mineralisation was intersected after drill testing of induced polarisation (IP) resistivity anomalies during late 2006.

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----- Start of picture text ----- Figure 1----- End of picture text -----

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----- Start of picture text ----- Raki RakiProject----- End of picture text -----

Diamond drilling will test the strike extent of epithermal gold veins intersected in DDHQ001 (2.8m from 61.2m of 14.43g/t Au) at Qalau. DDHQ008 which is located 50m west of DDHQ001 will target the northern end of a strong IP

Geopacific Resources NL ACN 003 208 393 info@geopacific.com.au www.geopacific.com.au

Australia – Sydney 556 Crown St (PO Box 477) Surry Hills NSW 2010 AUSTRALIA

T +61 2 9699 7311 F +61 2 9699 7322

Fiji – Nadi PO Box 9975 Nadi Airport Nadi FIJI

Geopacific Resources NL 27 September 2007 ASX Announcement

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resistivity anomaly (Figure 2).

Figure 2. Cross section along 3600E showing IP resistivity data and the planned trace of DDHQ008. Bedrock is covered by approximately 20m of transported alluvial cover.

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----- Start of picture text ----- 5400N 5500N 5600N 5700N surfaceZONE OF HIGH RESISTIVITY100m (approx. depth)ZONE OF LOW RESISTIVITYTrace ofplannedDDHQ008 Scale bar 100mgrid south grid north----- End of picture text -----

Drilling is also planned along the trend of the resistivity anomaly ‘high’ to the east of DDHQ001 and at the 4300E prospect where drilling in late 2006 intersected near surface gold in DDHQ003 (7m from 29m of 2.23g/t Au) and DDHQ004 (45.2m from 88m of 1.02g/t Au, including 5m of 3.4g/t Au and 3m at 4.45g/t Au).

The Raki Raki Project is a 50% joint venture between Peninsula Minerals Limited and Geopacific Resources NL. Geopacific is the manager of the joint venture.

Other information on the Company's projects and previous Geopacific announcements are available on Geopacific's website at www.geopacific.com.au .

Yours faithfully

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Ian J Pringle (Managing Director)

Geopacific Resources NL ACN 003 208 393

info@geopacific.com.au www.geopacific.com.au

Australia – Sydney 556 Crown St (PO Box 477) Surry Hills NSW 2010 AUSTRALIA

T +61 2 9699 7311 F +61 2 9699 7322

Fiji – Nadi PO Box 9975 Nadi Airport Nadi FIJI

Geopacific Resources NL 27 September 2007 ASX Announcement

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T +679 6 720 166 F +679 6 720 206