GEOPACIFIC RESOURCES LTD — Capital/Financing Update 2015

Nov 24, 2015

==> picture [563 x 99] intentionally omitted <==

41m@ 1.69% Cu eq. – RESOURCE EXPANSION

22 November 2015

GEOPACIFIC RESOURCES LIMITED

ACN 003 208 393

ASX Code: GPR

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

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 Company Secretary: John Lewis

PROJECTS

CAMBODIA: Kou Sa Copper

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

The Board of Geopacific Resources Limited (“Geopacific”) is pleased to provide an exploration update of the Kou Sa Project in Cambodia.

Geopacific’s strategy is to develop Kou Sa to generate revenue that will support expansion. Targeting a ‘kickstarter’, maiden resource and scoping study to take the project into production, with ongoing exploration increasing the scale of the project, well beyond the initial resource.

HIGHLIGHTS

• Thick sulphide intersections continue

• Thickness of dilation zone increases

• Open at depth and to the north-west

Managing Director, Ron Heeks said,

“… The thickness of this zone at Prospect 160 indicates that the source of mineralisation at Kou Sa must be substantial to be able to pump mineralised fluids into 40 metres of host rock… This zone is expected to add considerably to the metal inventory of the project.”

PROSPECT 160 EXTENSIONAL DRILLING

Prospect 160 is one of the most advanced areas at Kou Sa and is expected to form part of a maiden resource. Ongoing infill and extensional drilling at the prospect continues to define a thick zone of copper-sulphide mineralisation that forms the central core of the mineralised structure.

==> picture [330 x 239] intentionally omitted <==

Figure 1: Oblique cross-section of Prospect 160 highlighting recent results, the zone’s thickness and that it’s open both at depth and to the north west. KRC209, KRC203 and KRC201 are holes in progress.

==> picture [563 x 52] intentionally omitted <==

==> picture [563 x 98] intentionally omitted <==

==> picture [425 x 299] intentionally omitted <==

Figure 2: Prospect 160 drill hole location plan showing the most recent holes, overlain with an isopach map of the thickness of the copper mineralisation .

Figure 2 displays the zone of greater than 20m-thick copper mineralisation and highlights that it is open to the north-west. The current strike length of the Prospect 160 mineralisation is 300m. Drilling continues to test the depth.

On 22 October Geopacific announced a 42m wide intersection of sulphide mineralisation in KRC199, the 1m splits have returned the following results from 55m depth:

• KRC199: 41m at 1.64% Cu and 3.58g/t Ag for 1.69% Cu eq. incl. 6m at 3.05% Cu and 4.05g/t Ag for 3.10% Cu eq.

Also announced were the 4m composite results for KRC184 and KRC 159 from the thick central core of the Prospect 160 mineralisation. The 1m splits have been returned, results include:

• KRC159: 18m at 2.56% Cu and 7.64g/t Ag for 2.65% Cu eq.

This is higher grade and slightly narrower zone than the 4m composites.

• KRC184: 27m at 3.48% Cu and 6.04g/t Ag for 3.55% Cu eq.

• The grades are almost identical to those of the 4m composites, demonstrating the consistency of grade within this thick zone of mineralisation. Results of the 1m splits from the central portion of the zone are provided in Table 1.

Holes KRC184 and KRC199 collapsed due to unfavourable RC drilling conditions, both ended in mineralisation.

Drillholes KRC201, KRC203 and KRC209 are RC pre-collars that will be extended with diamond tails to test for extensions of the zone which is expected to combat the unfavourable RC drilling conditions that resulted in holes KRC184 and KRC199 collapsing and will allow Geopacific to test the full depth extent of the mineralisation.

Page 2

==> picture [563 x 98] intentionally omitted <==

Table 1. Results of the one metre samples from the core intersections at Drill hole KRC184.

Hole ID	Depth From	Interval	Au(ppm)	Ag (ppm)	Cu(%)	Cu eq. (%)	Zn(%)
KRC184	72	1	0.02	7.40	4.40	4.48	0.07
KRC184	73	1	0.02	6.50	5.68	5.75	0.11
KRC184	74	1	0.02	11.90	7.91	8.03	0.06
KRC184	75	1	0.02	5.70	5.42	5.48	0.02
KRC184	76	1	0.04	7.20	4.20	4.29	0.02
KRC184	77	1	0.05	11.60	8.00	8.13	0.03
KRC184	78	1	0.03	5.70	4.49	4.56	0.03
KRC184	79	1	0.01	1.70	1.07	1.09	0.02
KRC184	80	1	0.03	7.20	4.12	4.20	0.02
KRC184	81	1	0.01	5.20	1.58	1.63	0.02
KRC184	82	1	0.01	4.50	4.36	4.41	0.03
KRC184	83	1	0.04	16.00	4.14	4.31	0.03
KRC184	84	1	0.03	25.20	10.15	10.40	0.03
KRC184	85	1	0.02	11.60	9.38	9.50	0.04
KRC184	86	1	0.04	8.40	5.36	5.46	0.04
KRC184	87	1	0.01	3.50	2.03	2.07	0.06
KRC184	88	1	0.01	4.80	3.08	3.13	0.62
KRC184	89	1	0.01	3.60	1.91	1.95	0.25
KRC184	90	1	0.01	1.60	0.82	0.84	0.17
KRC184	91	1	0.01	1.60	1.09	1.11	0.10

Managing Director, Ron Heeks said

“There are numerous occasions over kilometres of strike length at Kou Sa where thick zones of mineralisation have formed, indicating the presence of a primary source at depth which is significant enough to be capable of pumping copper and gold rich fluids into a massive host rock.

The results from recent drilling at Prospect 160 have continued to confirm and improve the thickness and grade of copper and silver mineralisation. The core zone, which is at least 40m thick, is another example that an underlying source is generating multiple deposits.

Continued drilling of the Prospect 160 zone is a priority, with a diamond drill-rig being used to test the mineralisation at depth. This zone will add considerably to the metal inventory of the project”

Ongoing exploration

Exploration at Prospect 160 continues with diamond drilling of RC pre-collared holes both down dip and across strike of the mineralisation. The smaller diamond rig on site has now been replaced with a larger, track-mounted rig that will initially be drilling at the Prospect 160 area. The second diamond rig is currently drilling west of the Prospect 100 area where a zone of copper mineralisation was identified in first pass drilling. The RC rig will move to Prospect 120 to undertake the first drilling, targeting the area below the trenching, which was undertaken several months ago and identified broad zones of >0.1% Cu at surface.

Page 3

==> picture [563 x 98] intentionally omitted <==

SUMMARY OF PROSPECTS ACCORDING TO STAGE OF DEVELOPMENT

==> picture [194 x 10] intentionally omitted <==

----- Start of picture text -----

Prospect location plan over IP Geophysics
----- End of picture text -----

==> picture [451 x 372] intentionally omitted <==

The local village of Chep and Geopacific exploration camp, which are located on a bitumen highway, are situated just to the west of the licence. All current prospects at Kou Sa are marked and overlain on the IP chargeability geophysics (IP). The IP has been invaluable in accurate drill-targeting, with over 80% of drillholes resulting in mineralisation. Areas of high chargeability are shown in red and white. An overview of the project with this in mind indicates the prospectivity of Kou Sa.

Page 4

==> picture [563 x 98] intentionally omitted <==

Development status of prospects

The pyramid below shows the status of development and process of advancement towards becoming a reserve for all identified Prospects at Kou Sa. This is followed by a technical summary of each of the prospects, grouped according to stage of development.

==> picture [498 x 583] intentionally omitted <==

----- Start of picture text -----

Reserve%
P150%
P160% Resource%drilling%
P100%%%P128% Assessment%drilling%
P117%%%%%%%%%%%P190% Advanced%explora>on%
P120%%%%%P170%%%%%P180% Greenfields%explora>on%
Resource drilling
Prospect Commodity Summary
The majority of the prospect area is now drilled on a 40m x 40m pattern with some infill on
a 20m x 20m pattern. Understanding of the structure and orientation of the zone is now
high. A deep feeder zone to the near surface mineralisation is currently being assessed.
P150 Cu, Au, Ag
Most of mineralisation contains copper, gold and silver with some extremely high grades.
Depth of the mineralisation is currently less than 70m from the surface. Some infill and
extensional drilling remains to be completed.
The geometry of the deposit is now fairly well understood. The zone has an extremely,
thick core of copper sulphide mineralisation that tapers towards the sides of the zone. The
P160 Cu, Ag, (±Au) zone has a strike length of 300m. Drilling continues to extend the mineralisation down
plunge. There is potential for gold mineralisation combined with the copper sulphide at
depth, as mineralisation approaches what is thought to be the feeder zone.
Assessment drilling
Prospect Commodity Summary
Several holes have been drilled into the Prospect 100 area that was identified from IP
P100 Cu, Ag
geophysics. These holes have intercepted high-grade copper and low-grade gold
----- End of picture text -----

Page 5

==> picture [563 x 98] intentionally omitted <==

Prospect	Commodity	Summary
		mineralisation near surface. Further drilling is required to extend the zone to depth and alongstrike.
P128	Cu, Ag, (±Au)	The Prospect 128 mineralisation has been systematically drilled on a 40m x 40m pattern. The mineralisation is predominantly copper sulphide of good grade and is near surface, forming a zone 40 to 50m wide, 200m long and up to 25m thick. Further drilling is planned to extend zone to the north and further along strike. Potential also exists for further zones of mineralisation of a similar style nearby as several nearby holes have intercepted significant mineralisation.
	Advanced
Prospect	Commodity	Summary
P117	Cu, Ag, (±Au)	Initial drilling of the Prospect 117 mineralisation was difficult to interpret but, further drilling and a recent reassessment of all the available data including radial IP work has shown that the zone dips to the west and strikes north-northwest. Several recent holes have confirmed this new interpretation. Potential exists for further drilling to extend the three zones identified to depth and along strike to the north and south. There is excellent chance of findingfurther zones repeated to the east and west of the current drilling.
P190 (Gold)	Au, Ag	Several initial holes have been drilled into the Prospect 190 (Gold) area. Results have yielded broad zones of near-surface, low-grade gold mineralisation and several zones of deeper gold-mineralisation including a narrow but very high-grade zone. This area is currently interpreted to be the upper level of an epithermal system. The area is being assessed with deeper IPgeophysics before further drillingis undertaken.
P190 (South)	Cu, Ag	Three areas of shallow copper-sulphide and silver mineralisation have been identified from first-pass drilling. A deep IP geophysics program is currently in progress over the area to helptarget the next stage of drilling.
	Greenfields exploration
Prospect	Commodity	Summary
P120	Cu, Au	A significant but discrete zone of gold and copper soil geochemistry was identified and follow-up gradient array geophysics has confirmed the presence of an IP anomaly. Several lines of RC drillingover thegeophysics areplanned to be undertaken in the near future.
P170	Au, Ag	Prospect 170 has a large base-metal and gold geochemical anomaly associated with other geochemical signatures that would suggest the mineralisation came from a deep source. An assessment of airborne magnetics also suggests that a deep mineralising source is nearby. A few holes drilled over the anomaly produced scattered copper and gold results with extremely wide zones of anomalous silver. This would also suggest we are at the top of the system and that deeper holes need to be drilled. A deep IP geophysics program will be undertaken to further define the deeper zone before drillingcommences.
P180	Cu, Au, Ag	Prospect 180 was identified from broad copper and gold geochemistry and IP geophysicis. First-pass drilling intercepted wide low-grade copper mineralisation in oxide and sulphide zones. This indicates the presence of mineralising system, potentially located at depth. Further drillingis required to allow a better assessment of the Prospect 180 area.

					Greenfields exploration	Greenfields exploration	Greenfields exploration
Prospect				Commodity			Summary
							A significant but discrete zone of gold and copper soil geochemistry was identified and
P120				Cu, Au			follow-up gradient array geophysics has confirmed the presence of an IP anomaly. Several
							lines of RC drillingover thegeophysics areplanned to be undertaken in the near future.
							Prospect 170 has a large base-metal and gold geochemical anomaly associated with other
							geochemical signatures that would suggest the mineralisation came from a deep source.
							An assessment of airborne magnetics also suggests that a deep mineralising source is
P170				Au, Ag			nearby. A few holes drilled over the anomaly produced scattered copper and gold results
							with extremely wide zones of anomalous silver. This would also suggest we are at the top
							of the system and that deeper holes need to be drilled. A deep IP geophysics program will
							be undertaken to further define the deeper zone before drillingcommences.
							Prospect 180 was identified from broad copper and gold geochemistry and IP geophysicis.
P180				Cu, Au,	Ag		First-pass drilling intercepted wide low-grade copper mineralisation in oxide and sulphide zones. This indicates the presence of mineralising system, potentially located at depth.
							Further drillingis required to allow a better assessment of the Prospect 180 area.

Page 6

==> picture [563 x 98] intentionally omitted <==

WHY DO THE COMMODITIES DIFFER BETWEEN PROSPECTS?

The mineralisation at Kou Sa is thought to be derived from a deep intrusive source. Geochemistry,

==> picture [340 x 235] intentionally omitted <==

geophysics and petrology all point to a deep source as the origin of the near-surface mineralisation. As the intrusive cooled, mineralising fluids under pressure have taken the path of least resistance to the surface. In places the solutions have hit an impermeable layer and as pressure has built up under the layer, the fluids have moved sideways into the rock units that fracture most easily. The first fluids emplaced are predominantly copper-sulphides. If the

pressure buildup is significant enough to crack the impermeable horizon there is a rapid decrease in fluid pressure that causes the gold and silver solutions to deposit in the area of the pressure decrease. Therefore, as you move away from the area of the cracking the mineralisation transitions from being gold and silver rich, to gold, silver and copper rich and then to predominantly copper sulphide. In areas where the seal does not crack, mineralisation is predominantly just copper rich. There can be multiple episodes of cracking and emplacement of solution, which can considerably improve the grade of the mineralisation.

CONTACT

For further information on this update or the Company generally, please visit our website at www.geopacific.com.au or contact:

Mr Ron Heeks

Managing Director

Competent Person’s 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.

Page 7

==> picture [563 x 98] intentionally omitted <==

ABOUT GEOPACIFIC AND KOU-SA, CAMBODIA

Kou Sa Project

Geopacific is actively exploring for copper and gold in Cambodia and Fiji. In Cambodia, its rapidly advancing Kou-Sa copper-gold project is a well-funded exploration vehicle in a highly prospective district. Project highlights include high grade, near surface deposits, excellent logistics, low cost environment, compelling geology and exceptional initial metallurgy results. With a proven management team and focused strategy to target a maiden resource and scoping study, exploration success is expected to continue and add to the potential of the project.

Ownership

In 2013, Geopacific (85%) and their JV Partner The Royal Group (15%) signed a purchase agreement to acquire 100% of the Kou Sa Project from the vendor. The Kou Sa Project covers 158km2.

The Royal Group is the largest, commercial conglomerate in Cambodia. They have entered into corporate ventures in Cambodia with the likes of ANZ and Siemens.

Location

Kou-Sa is in Cambodia’s Chep district in the province of Phreah Vihear. The Project is a 3-hour drive from Siem Reap international Airport or alternatively a 5-hour drive from the capital city of Phnom Penh, both routes follow high-quality bitumen highways.

Discovery

Kou-Sa was identified by French geologists in the 1960’s, pre-dating the Vietnamese and regional civil wars. In 2009, the Vendors began shallow drilling along parts of visibly outcropping mineralisation. In 2013, after agreeing to purchase the Project, Geopacific commenced detailed exploration with airborne magnetics (3,800 line kms), regional soil geochemistry (approx. 8,000 samples) and detailed IP and EM geophysics. The work undertaken allowed Geopacific to identify a number of high priority prospects in an East – West arc across the project area. Geopacific has continued exploration with encouraging results.

Page 8

==> picture [563 x 98] intentionally omitted <==

APPENDIX A – DRILLING DETAILS

Key for results tables

Colour	% org/t
Orange	0.2 - 0.5
Red	0.5 – 1.0
Pink	>1.0

Significant Drill Results for Prospect 160

Hole ID	From	Interval	Au(g/t)	Ag (g/t)	Cu(%)	CuEq (%)	Zn(%)1
KRC159*	42.00	18.00	0.04	7.64	2.56	2.65	0.07
KRC160*	61.00	2.00	0.36	15.35	0.57	0.92	5.52
KRC162*	57.00	4.00	0.61	31.75	1.77	2.42	0.04
KRC167*	30.00	22.00	0.04	4.32	1.13	1.19	0.06
incl.	32.00	5.00	0.03	9.90	2.41	2.52	0.08
KRC170	26.00	2.00	0.04	6.15	2.21	2.28	0.25
KRC172	16.00	9.00	0.07	6.88	1.73	1.83	0.13
KRC172	28.00	5.00	0.28	13.46	0.69	0.98	0.36
KRC174	19.00	10.00	0.05	2.99	0.92	0.98	0.32
KRC176	85.00	2.00	0.06	7.95	1.54	1.65	0.10
KRC184*	69.00	27.00	0.02	6.04	3.48	3.55	0.19
KRC186	31.00	4.00	0.40	48.08	2.05	2.72	8.55
incl.	31.00	1.00	1.20	128.00	2.12	3.99	13.40
KRC190	40.00	8.00	0.01	2.70	0.63	0.66	0.11
KRC190*	52.00	8.00	0.03	2.40	1.08	1.11	0.25
KRC191	20.00	4.00	0.05	29.00	2.09	2.38	0.10
KRC191*	64.00	8.00	0.05	6.50	0.81	0.90	4.73
KRC193	32.00	8.00	0.04	3.15	0.91	0.96	0.75
KRC195	12.00	8.00	0.04	5.15	2.38	2.45	0.10
KRC199*	55.00	41.00	0.02	3.58	1.64	1.69	0.06
incl.	81.00	6.00	0.01	4.05	3.05	3.10	0.02
KRC201*	116.00	2.00	0.63	31.20	0.13	0.79	0.71

NOTES:

RC results highlighted in green are composite samples, with the rest being 1m splits. Any interval marked with an asterisk (*) are wet samples.

Intervals are selected on a 0.5% Cu eq. or 0.5g/t Au cutoff.

Equivalent grades are based on a US dollar gold price of $1,300/oz, copper price of $7,000/tonne, and silver price of $20/oz. Equivalent grades were calculated as follows:

Cu % (Eq) = Cu % + [((Au g/t x Au price per gram) ÷ Cu price per tonne) x 100] + [((Ag g/t x Ag price per gram) ÷ Cu price per tonne) x 100]

1 Zinc not included in copper equivalent calculation

Page 9

==> picture [563 x 98] intentionally omitted <==

Initial metallurgical testwork suggests that metal recoveries for the 150 Prospect will be in the range of: copper >95%, gold >92% silver >90% (ASX release 26 March 2015). Metallurgical testwork has not been undertaken on other prospects at this time.

Drillhole collar information in this table is presented in the ‘WGS84 zone 48N’ coordinate system. This data was collected using a handheld GPS unit as well as tape and compass from known survey points.

Drilling summary for Prospect 160

Hole ID	Prospect	**Type **	Easting	Northing	RL	Depth	Dip/Azi	Analysis Status
KRC159	160	RC	544667	1518116	133	93	-80 / 180	Released
KRC160	160	RC	544610	1518107	128	103	-70 / 180	Released
KRC161	160	RC	544571	1518097	127	96	-80 / 180	No Significant Results
KRC162	160	RC	544571	1518017	127	78	-60 / 180	Released
KRC163	160	RC	544529	1518109	116	80	-60 / 180	No Significant Results
KRC164	160	RC	544529	1518070	121	66	-60 / 180	No Significant Results
KRC165	160	RC	544529	1518030	122	54	-60 / 180	No Significant Results
KRC166	160	RC	544571	1517980	125	54	-60 / 180	No Significant Results
KRC167	160	RC	544610	1518037	131	70	-60 / 180	Released
KRC168	160	RC	544571	1518097	128	75	-55 / 180	No Significant Results
KRC169	160	RC	544667	1518159	132	84	-70 / 180	No Significant Results
KRC170	160	RC	544670	1518049	134	60	-55 / 180	Released
KRC171	160	RC	544710	1518049	137	50	-60 / 180	No Significant Results
KRC172	160	RC	544710	1518074	135	54	-60 / 180	Released
KRC173	160	RC	544749	1518039	141	50	-60 / 180	No Significant Results
KRC174	160	RC	544749	1518079	137	54	-60 / 180	Released
KRC175	160	RC	544749	1518129	138	72	-60 / 180	No Significant Results
KRC176	160	RC	544749	1518169	137	102	-60 / 180	Released
KRC177	160	RC	544645	1518142	132	54	-60 / 180	No Significant Results
KRC178	160	RC	544567	1517950	123	30	-60 / 180	Hole Collapsed
KRC179	160	RC	544567	1517953	123	50	-60 / 180	No Significant Results
KRC180	160	RC	544529	1518000	122	60	-60 / 180	No Significant Results
KRC181	160	RC	544490	1518085	121	109	-60 / 180	No Significant Results
KRC182	160	RC	544530	1518145	128	80	-60 / 180	No Significant Results
KRC183	160	RC	544570	1518120	131	90	-80 / 180	No Significant Results
KRC184	160	RC	544610	1518150	132	96	-80 / 180	Released
KRC185	160	RC	544790	1518080	138	60	-60 / 180	No Significant Results
KRC186	160	RC	544789	1518120	139	80	-50 / 180	Released
KRC187	160	RC	544789	1518184	138	80	-60 / 180	No Significant Results
KRC188	160	RC	544830	1518170	134	70	-60 / 180	No Significant Results
KRC189	160	RC	544830	1518100	140	66	-60 / 180	No Significant Results
KRC190	160	RC	544851	1518112	140	66	-60 / 180	Released
KRC191	160	RC	544851	1518151	138	78	-60 / 180	Released
KRC192	160	RC	544870	1518160	134	72	-60 / 180	No Significant Results
KRC193	160	RC	544870	1518170	139	42	-60 / 180	Released

Page 10

==> picture [563 x 98] intentionally omitted <==

Hole ID	Prospect	**Type **	Easting	Northing	RL	Depth	Dip/Azi	Analysis Status
KRC194	160	RC	544870	1518080	141	42	-60 / 180	No Significant Results
KRC195	160	RC	544900	1518080	141	40	-60 / 180	Released
KRC196	160	RC	544900	1518040	143	33	-60 / 180	No Significant Results
KRC197	160	RC	544939	1518143	139	72	-60 / 180	No Significant Results
KRC198	160	RC	544939	1518103	139	60	-60 / 180	No Significant Results
KRC199	160	RC	544645	1518142	132	96	-80 / 180	Released
KRC201	160	RC	544570	1518160	130	118	-80/180	Precollar
KRC202	160	RC	544610	1518190	130	114	-80/180	Precollar
KRC203	160	RC	544530	1518185	128.05	90	-80/180	Precollar
KRC204	160	RC	544610	1518250	123.32	54	-80/180	Precollar
KRC205	160	RC	544610	1518210	132.7	70	-80/180	Precollar
KRC206	160	RC	544570	1518200	130	60	-80/180	Precollar
KRC207	160	RC	544570	1518240	123.35	70	-80/180	Precollar
KRC208	160	RC	544530	1518225	120.2	70	-80/180	Precollar
KRC209	160	RC	544497	1518225	116.33	70	-80/180	Precollar
KRC210	160	RC	544490	1518190	121.33	70	-80/180	Precollar
KRC211	160	RC	544490	1518150	122.6	70	-80/180	Precollar
KRC212	160	RC	544490	1518120	124.02	70	-80/180	Precollar
KRC213	160	RC	544645	1518225	133.05	70	-80/180	Precollar
KRC214	160	RC	544645	1518185	135.4	70	-80/180	Precollar
KRC215	160	RC	544670	1518220	129.35	70	-80/180	Precollar
KRC216	160	RC	544670	1518180	135.91	70	-80/180	Precollar
KRC217	160	RC	544710	1518170	136.63	70	-80/180	Precollar
KRC221	160	RC	544410	1518265	122.89	70	-80/180	Precollar
KRC222	160	RC	544450	1518300	125.04	70	-80/180	Precollar

Page 11

==> picture [563 x 98] intentionally omitted <==

Appendix B – JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	Sampling was conducted using percussion drilling (RC). Sampling of RC drilling comprised four metre composites taken using a PVC tube/spear with one metre samples collected using rifle splitter within zones of interest. Samples were sent for fire assay gold and four-acid multi-element analysis. Blank, duplicate, and standard samples were inserted in at various intervals based on Geopacific’s QAQC procedure to ensure sample representivity and repeatability of the sampling results.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	RC samples comprised four metre composites collected using a PVC spear, and one metre splits collected using a rifle splitter. The RC samples were then sent for sample preparation where they were crushed, pulverised, and split to a nominal 200g sample size for analysis. Samples were sent for fire assay gold analysis using a 30g charge, as well as multi-element analysis using multi-acid digest with ICP finish.
Drilling Techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).	RC drilling was completed using standard face sampling RC drill hammers.
Drill Sample Recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	Bulk RC drill samples were visually inspected by the supervising geologist to ensure adequate sample recoveries were achieved. Any wet/moist samples were flagged and recorded in the database to ensure no sampling bias was introduced.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	RC drilling was undertaken using industry best practice with geological supervision at all times to ensure good sample recovery.
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	Sample recovery was good to moderate throughout the drill holes. Possible preferential loss of ore material could have resulted in some zones, but the majority of the samples had good recovery.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	All drill chips were geologically logged by Geopacific geologists using the Geopacific’s logging procedure.

Page 12

==> picture [563 x 98] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.	Drill chips were logged both qualitatively (e.g. lithology, alteration, structure, etc.) and quantitatively (e.g. mineralisation percentage). Samples of the drill chips are stored in plastic chip trays in our exploration core yard.
	The total length and percentage of the relevant intersections logged.	All holes are logged their entire length.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	No diamond drilling results are reported in this announcement.
	If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.	Initial four metre composites are sampled using a PVC tube/spear; with one metre samples collected using a rifle splitter.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Samples are crushed to a nominal 2mm by a jaw crusher, with the whole sample pulverised and then split to two final 200g samples. One sample is stored on site with the other sent for analysis.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	Field blank, duplicate, and standard samples are introduced to maximise the representivity of the samples.
	Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.	Field duplicates are inserted in accordance with Geopacific’s QAQC procedure.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Sample sizes are appropriate to the grain size of the material being sampled.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	Fire assay Au and four-acid digest ICP analysis are thought to be appropriate for determination of gold and base metals in fresh rock, and are considered to represent a total analysis.
	For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	No results from geophysical tools, spectrometers, or handheld XRF instruments are reported in this release.
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	Field and lab blank, duplicate, and standard samples were used in the drilling. Results from these QAQC samples were within the acceptable ranges.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	Significant intersections were inspected by senior geological staff.
	The use of twinned holes.	No holes reported in this announcement are twins of previous drilling.

Page 13

==> picture [563 x 98] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Primary assay data is sent from the lab to our database administrator and then entered into Geopacific’s database and validated by the database administrator and senior staff.
	Discuss any adjustment to assay data.	No adjustments were made or required to be made to the assay data.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	Drillhole collars were located using a Garmin handheld GPS and measured from nearby surveyed locations. These collars will be accurately located in the next round of surveying. Downhole survey tools are used and calibrated on a regular basis.
	Specification of the grid system used.	Coordinates are recorded in WGS84 zone 48 south.
	Quality and adequacy of topographic control.	A digital terrain model of the various prospects was created from detailed LiDAR data and is used to set the RL of the drill collars.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	These holes represent the drill-out and extension phase of the mineralisation at Prospect 160. The drill spacing is set to a nominal 40m x 40m grid pattern, infilled where necessary.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	No Mineral Resource and Ore Reserve estimations have been made based on these results.
	Whether sample compositing has been applied.	Results that refer to RC drilling are a combination of 4m composites and 1m splits, and are labelled as such in the results table.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	Interpretations of the mineralised zone at Prospect 160 suggest that the drill orientation does not introduce a significant bias to the sampling.
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	An interpretation of the mineralisation has indicated that no significant bias has been introduced by the orientation of the drill holes reported herein.
Sample security	The measures taken to ensure sample security.	All samples are collected by GPR staff and put into numbered calico bags, which are immediately tied and placed in larger polyweave bags with other samples. These polyweave bags are tied and secured, and are then sent with a consignment notice direct to ALS in Phnom Penh using Geopacific staff.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	QAQC data is monitored on a batch-by-batch basis. An audit of the database by a geochemical consultant has shown that the current procedures are adequate.

Page 14

==> picture [563 x 98] intentionally omitted <==

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	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.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	This announcement is based on work done solely by Geopacific Resources Limited and makes no reference to work done by other companies.
Geology	Deposit type, geological setting and style of mineralisation.	The geology of the tenement is dominated by andesitic, dacitic and rhyolitic volcanic and 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.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Refer to tables in Appendix A.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.	No top-cuts were used in the reporting of these significant intercept. The interval selected using a cut off value 0.5% CuEq, and were calculated using weighted averaging.
	Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	Shorter intercepts of higher grade within larger reported intercepts are subsequently highlighted within the summary drilling table.

Page 15

==> picture [563 x 98] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	Due to the polymetallic nature of the Project, copper equivalent values were calculated on the significant intervals with the calculation and assumptions reported below the relevant tables.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	Information from other drilling in the area as well as geological mapping indicate that the downhole intervals may be fairly close to the true width, but more structural information is needed to determine the exact orientation of the mineralised zones.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Diagrams relevant to the report content are included in the body of the report.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Refer to tables in Appendix A.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	The references to IP geophysics refers specifically to chargeability results from various methods of induced polarisation geophysics unless otherwise specified.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Refer to text.

Page 16