GEOPACIFIC RESOURCES LTD — Capital/Financing Update 2013

Sep 24, 2013

USD$500,000 ADVANCE ON RCF VI PLACEMENT

GEOPACIFIC RESOURCES NL ACN 003 208 393

ASX Code: GPR

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

Geopacific Resources N L (“Geopacific”) is pleased to announce it has reached agreement with Resource Capital Fund VI L.P. (“RCF VI”) to vary the terms of the equity placement (“Placement”) announced on 7 August 2013.

The Placement will now be made in two (2) Tranches:

AUSTRALIAN OFFICE

Level 1, 278 Stirling Highway Claremont, WA 6010 PO Box 439 Claremont, WA 6910 T +61 8 6143 1823

FIJI OFFICE

PO Box 9975 Nadi Airport Nadi T +679 6 72 7150 F +679 6 72 7152

DIRECTORS

Chairman: Milan Jerkovic Managing Director: Ron Heeks Non-Exec Director: Mark Bojanjac Non-Exec Director: Russell Fountain Company Secretary: John Lewis

PROJECTS

CAMBODIA: Kou Sa Copper

FIJI: Sabeto/Vuda Gold-Copper Rakiraki Gold Nabila Copper-Gold

1. Tranche 1 of USD$500,000 to be advanced to Geopacific prior to the finalisation of Geopacific’s current AUD$3.0 million Rights Issue.

2. Tranche 2 in the amount of USD$2.5 million to be advanced upon the successful completion of the Rights Issue.

Both Tranches remain subject to a number of standard conditions although only Tranche 2 remains subject to the conditions of Geopacific raising AUD$3.0 million by way of the Rights Issue, effecting a change in company type from a public no liability company to a public company limited by shares and obtaining of all authorisations and approvals (including shareholder approval) required for Tranche 2.

Both Tranche 1 and Tranche 2 will be conducted at the existing Placement issue price of AUD$0.05 per share.

The advance of USD$500,000 pursuant to Tranche 1 will enable Geopacific to complete a comprehensive Airborne Geophysical Survey over the Kou Sa project.

Geopacific’s Managing Director Ron Heeks said “ The advance of USD$500,000 is a clear sign of support for the Company and the Kou Sa project by RCF VI. We will be able to take advantage of the availability of geological services to get the magnetics program completed quicker and on more favourable terms than previously budgeted.”

Geopacific has scheduled an Extraordinary General Meeting (“EGM”) of Shareholders on 7 October 2013 for shareholders to approve the Placement and the issue of approximately 67 million fully paid ordinary shares to RCF VI pursuant to the Placement.

Tranche 1 is to be advanced prior to the EGM and as such the approximately 10.8 million fully paid ordinary shares to be issued at an issue price of AUD$0.05 per share as a result of Tranche 1 (assuming a $USD/AUD exchange rate of 0.93/1) will be issued pursuant to Geopacific’s 15% capacity under Listing Rule 7.1. The actual amount of shares to be issued under Tranche 1 will be determined by converting Tranche 1 from USD$ to AUD$ using the spot $USD/AUD exchange rate at 10.00am on the date Tranche 1 is advanced.

The balance of the Placement is expected to be advanced on 8 October 2013 subject to all the remaining conditions having been satisfied including Shareholder approval at the EGM.

Upon the completion of the Placement, RCF VI will have been issued approximately 67 million fully paid ordinary shares at an issue price of AUD$0.05 cents each. At the completion of the funding package, which includes the Rights Issue, RCF VI is expected to have an interest in Geopacific of approximately 28%.

ABOUT RESOURCE CAPITAL FUNDS

Resource Capital Funds ("RCF" or the "Funds") are private equity funds with mandates to make investments exclusively in the mining sector across a diversified range of hard mineral commodities and geographic regions. The Funds are managed by RCF Management L.L.C. which has its principal office in Denver and additional offices in Perth, New York (Long Island) and Toronto. Since inception, RCF has supported 114 mining companies (and several mining-services companies) involving projects located in 39 countries and relating to 28 commodities.

RCF is currently investing its sixth fund, Resource Capital Fund VI L.P., with committed capital of $2.04 billion and currently manages approximately USD$1.4 billion of assets (as of March 31, 2013) through its three other active private equity funds, Resource Capital Fund V L.P., Resource Capital Fund IV L.P. and Resource Capital Fund III L.P. The Fund's committed capital is sourced primarily from US-based institutional investors.

ABOUT THE KOU SA COPPER PROJECT

Geopacific has entered into a sale agreement with Golden Resources Development Co. Ltd (“GRD”), a South Korean controlled Cambodian company, for an option to acquire an 85% interest in the highly prospective Kou Sa Copper Project in Northern Cambodia. The remaining 15% has been acquired by a subsidiary of WWM’s Cambodian partner, The Royal Group.

The Kou Sa Project is located in Cambodia’s Chep district, Phreah Vihear province. Kou Sa is a 3 hour drive from Siem Reap International airport and directly adjacent to a regional highway. The project was originally discovered by BRGM geologists in the 1960’s before the Vietnamese and regional civil wars. No further work was conducted until 2008, when GRD commenced exploration activities.

The geology of the tenement is dominated by dacitic to rhyolitic volcaniclastic rocks with minor lenses of limestone and sediments. Quartz-feldspar porphyry intrusions are noted in the drilling with outcropping dacitic porphyry observed in the west of the tenement. Known mineralisation on the tenement comprises structurally-hosted semi-massive copper sulphide veins.

Kou Sa has had approximately 4,000m of diamond drilling undertaken in 2011 & 2012, on several areas within the 158km[2] tenement. Only 2,000m of this drilling had been previously sampled using non-standard methods. The available drilling provided a good indication of the type of mineralisation that could be expected at Kou Sa, with excellent near surface massive and semi-massive sulphide intersections being evident. Subsequent sampling by Geopacific’s exploration team of all drill core revealed, that the early results were accurate. In most cases, the entire mineralisation zone had not been previously sampled and therefore the final results generated by Geopacific produced wider zones of mineralisation than first estimated. True widths are still yet to be determined.

Initial mapping of the tenement by our exploration team showed the two best project areas drilled to date, the 100 & 117 Areas appear to be on the same structure. Regional gridded soil geochemical sampling has identified a ~16km long zone of copper anomalism intersected by areas of transported material, with the best results coming from the Prospect 100 & 117 areas. A 2km diameter zone of copper in soil anomalism is noted south-east of the tenement.

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Figure 1: Kou Sa project & prospect location map

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Competent Persons Statement

The information in this announcement that relates to exploration results is based on information compiled by or under the supervision of Ron Heeks, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy and Managing Director of Geopacific.

Mr Heeks has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Heeks consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

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