GEOPACIFIC RESOURCES LTD — Capital/Financing Update 2015

Oct 25, 2015

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5.5m @4.22% Cu eq. – OPEN AT DEPTH

26 OCTOBER 2015

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

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

Geopacific’s strategy is to release an initial maiden resource and scoping study for Kou Sa in early 2016. This is seen as a ‘kickstarter’ to take the project into production on an efficient path. Exploration will continue, looking to continually increase the overall scale of the project well beyond the initial resource. The intention is to develop a project that’ll generate revenue to support expansion.

HIGHLIGHTS

• Prospect 117:

• to be included in an initial resouce estimate

• open along strike and at depth

• close to a deep mineralising source

• Prospect 128:

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

• now well-defined, near-surface mineralisation

EXPLORATION UPDATE

The RC and two diamond drill-rigs currently on site have made good progress through the Cambodian wet season, which is expected to end shortly. Drilling commenced in July, following funding being secured for 12 months.

Prospect 117

Prospect 117 is at an advanced exploration stage. A re-evaluation of previous work and the current round of drilling has for the first time, enabled mineralisation to be joined to form discrete, continuous zones. This will allow Geopacific to incorporate new and previous drilling into an initial resource estimate. The true extent of the prospect remains to be tested.

Significantly, the latest deeper holes in Prospect 117 have encountered strong rock alteration and minerology including epidote, haematite and magnetite which suggests that the zones are closer to a hot deeper mineralising source.

FIJI:

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

Recent results for Prospect 117 include:

• KDH133: 11.9m @2.27% Cu eq. from 87m

• incl. 5.5m @4.22% Cu eq.from 87.9m

• KDH133: 2.1m @3.01% Cu eq. from 38.9m

• KDH135: 3.5m @1.88% Cu eq. from 21.9m

• KDH131: 9.3m @ 1.11% Cu eq. from 62.7m

• incl. 2m @ 2.67% Cu eq. from 65.0m

Previous results include (released 26 June 2014 and 15 January 2015):

• KRC019: 10m @ 2.9% Cu eq. from 36.0m

• KDH030: 11.7m @ 3.23% Cu eq. from 66.7m

• KDH022: 17.05m @ 1.49% Cu eq. from 70.4m

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Figure 1: Prospect 117 showing three zones of parallel mineralisation

All three of the zones identified are open at depth and in both directions along strike.

Geophysics and geochemistry both indicate that there is potential for further repetitions of the current zones to the west and east.

The geological interpretation displayed in Figure 2 shows the north north-west orientation of the zones and highlights that they are open in both directions as well as at depth. The geophysical corridor that the zones sit

in is also open to the east and for a long distance to the west where some of the best geochemical signatures on the licence have been identified.

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Results from recent drilling at Prospect 117 combined with new and re-interpreted geophysics has led to a re-evaluation of the nature of the mineralisation within the area. This interpretation is quite different from previous assumptions. Several diamond drill holes have now confirmed that this new model appears to be correct.

Figure 2: Prospect 117 showing multilayered zones of copper mineralisation that dip to the west and strike to the north, north-west.

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Prospect 128

Prospect 128 comprises several discrete zones of copper mineralisation.

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The first of these zones to be drilled has now been covered with a 40m x 40m spaced pattern of Diamond and RC drilling. This has outlined a main cohesive zone copper sulphide approximately 300m long, 50m wide and up to 25m thick and several other pods of associated mineralisation as shown in Figure 3. The main zone dips gently to the south and has a shallow plunge to the west. Depth from surface to the top of mineralisation ranges from 10m in the north to 50m in the south.

Figure 3: Prospect 128 cross section showing mineralisation.

The mineralisation still has the potential to extend to the north-east as shown in Figure 4. Further drilling will be used to test for this extension and other zones at the Prospect in the near future.

Figure 4: Prospect 128 showing drillhole locations.

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Managing Director, Ron Heeks said

“ Last week’s results continue to highlight the potential of our most advanced prospects, while providing encouraging results from exploring new areas.

We are focussed on achieving our strategy – growing the long-term potential of Kou Sa while targeting a ‘kickstarter’ resource and completing a scoping study. Recent great results support our action plan and help achieve the key milestones of our strategy. Our aggressive, 3-rig drill-program continues.”

Ongoing exploration

RC drilling will continue to test near surface mineralisation at Prospect 160 before moving to Prospects 120 and 190 in the coming months. A diamond drill-rig currently drilling the potential feeder zone at Prospect 150 will be moved to Prospect 160 to continue testing the depth potential of the thicker zone of copper sulphide mineralisation that was recently identified. The second diamond drill rig on-site continues to test the Prospect 117 area.

In the Prospect 190 area, a dipole-dipole IP geophysics program is assessing the potential of deep-seated mineralising sources. Recent drilling and a reinterpretation of the airborne magnetics indicate these source rocks may be present. The results of this survey should be available within the next few weeks. These results will be used to target further drilling in the Prospect 190 area.

A new track-mounted diamond rig is currently being mobilised from Thailand to enable the drilling of deeper diamond holes and facilitate mobility between drill-holes. This rig is expected to be on-site shortly.

SUMMARY OF PROSPECTS ACCORDING TO STAGE OF DEVELOPMENT

Prospect location plan over IP Geophysics

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The local village of Chep and exploration camp, which are located on a bitumen highway, are situated in the north-east corner. 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 drill-holes 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. The initial maiden resource will form the starting point which will continue to be increased with ongoing exploration.

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Development status of prospects

The pyramid below shows the status of development and process of advancement toward delivering a mineral 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.

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

Reserve
P150
P160
Resource drilling
P100 P128
Assessment drilling
P117 P190
Advanced exploration
P120 P170 P180
Greenfields exploration
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Resource Drilling

Status		Prospect	Commodity	Summary
		P150	Cu, Au, Ag	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. 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 drillingremains to be completed.
		P160	Cu, Ag, (±Au)	The geometry of the deposit is now fairly well understood. The zone has a, thick core of copper sulphide mineralisation that tapers towards the sides of the zone. The 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

Status		Prospect	Commodity	Summary
		P100	Cu, Ag	Several holes have been drilled into the Prospect 100 area that was identified from IP geophysics. These holes have intercepted high-grade copper and low-grade gold 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 near surface, forming a zone 40 to 50m wide, 250m long and up to 25m thick. Further drilling is planned to extend the zone to the north and further along strike. Potential also exists for further adjacent zones of mineralisation of a similar style to be identified as several nearbyholes have intercepted significant mineralisation.

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Advanced Exploration

Status		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 zones dip to the west and strike north-northwest. Several recent holes have confirmed this new interpretation. Potential exists for further drilling to extend the zones 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 beingassessed 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

Status	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 drilling over the geophysics are planned 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 drilling is required to allow a better assessment of the Prospect 180 area.

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WHY DOES MINERALISATION DIFFER BETWEEN THE PROSPECTS?

The mineralisation at Kou Sa is thought to be derived from one or more deep intrusive sources.

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Geochemistry, geophysics and petrology all point to a deep source as the origin of the near-surface mineralisation. Our current understanding suggests that as the intrusive(s) 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 high in gold and silver, to gold, silver and copper rich and then to predominantly copper mineralised. 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 overall 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.

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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 a 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 its 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 158km[2] .

The Royal Group is the largest conglomerate in Cambodia. It has 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, predating 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.

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Above: Kou Sa site office located on a bitumen highway, showing the position of two prospects in the background.

Follow the links to watch the fly-through video (showing drilling) and an update on Kou Sa with Managing Director, Ron Heeks.

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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 by Prospect

Prospect 117 – Diamond drilling	Prospect 117 – Diamond drilling	Prospect 117 – Diamond drilling
Hole ID	From	Interval	Au(g/t)	Ag (g/t)	Cu(%)	CuEq (%)	**Zn(%)1 **
KDH131	62.70	9.30	0.03	8.91	1.01	1.11	1.10
incl.	65.00	2.00	0.04	18.05	2.48	2.67	0.03
KDH133	38.90	2.10	0.13	94.04	2.08	3.01	0.02
KDH133	87.00	11.90	0.04	12.43	2.13	2.27	0.04
incl.	87.90	5.50	0.04	22.20	4.00	4.22	0.03
KDH135	21.90	3.50	0.02	4.85	1.82	1.88	0.12
incl.	23.10	1.40	0.01	7.10	3.64	3.71	0.09

Prospect 128 – RC drilling one metre splits

Prospect 128 – RC drilling one metre splits	Prospect 128 – RC drilling one metre splits	Prospect 128 – RC drilling one metre splits	Prospect 128 – RC drilling one metre splits	Prospect 128 – RC drilling one metre splits	Prospect 128 – RC drilling one metre splits	Prospect 128 – RC drilling one metre splits	Prospect 128 – RC drilling one metre splits
Hole ID	From	Interval	Au(g/t)	Ag (g/t)	Cu(%)	CuEq (%)	Zn(%)1
KRC129	20.00	22.00	0.02	4.53	1.59	1.65	0.16
incl.	20.00	4.00	0.03	8.93	3.18	3.27	0.35
and	28.00	2.00	0.02	6.35	5.26	5.32	0.18
and	40.00	1.00	0.04	10.30	4.28	4.40	0.18
KRC131	26.00	3.00	0.03	10.63	1.74	1.85	0.78
KRC131	60.00	3.00	0.01	2.08	0.48	0.50	0.88
KRC132*	53.00	4.00	0.04	5.43	1.55	1.62	6.60
KRC133	17.00	15.00	0.06	5.97	2.00	2.09	0.43
incl.	18.00	3.00	0.07	8.30	4.69	4.81	0.45
KRC138	21.00	5.00	0.01	2.84	0.69	0.72	0.50
KRC138	43.00	6.00	0.02	4.08	0.62	0.67	1.89
KRC140*	51.00	4.00	1.90	61.58	0.93	2.61	15.08
incl.	51.00	1.00	3.30	110.00	1.48	4.44	35.60
KRC140*	59.00	4.00	0.10	5.98	0.69	0.80	0.45
KRC141*	96.00	2.00	0.04	5.05	1.50	1.56	0.10
KRC143	34.00	9.00	0.03	4.40	0.81	0.87	0.39

1 Zinc not included in copper equivalent calculation

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Drilling summary by Prospect

Prospect 117	Prospect 117
Hole ID	Prospect	**Type **	Easting	Northing	RL	Depth	Dip/Azi	Analysis Status
KDH131	117	DDH	550237	1518843	152	81.7	-45 / 360	Released
KDH133	117	DDH	550199	1518896	151.73	119.2	-60 / 360	Released
KDH135	117	DDH	550199	1518710	147.7	82.8	-60 / 360	Released
KDH155	117	DDH	550241	1518959	152	163.8	-50 / 65	AwaitingResults

Prospect 128	Prospect 128
Hole ID	Prospect	**Type **	Easting	Northing	RL	Depth	Dip/Azi	Analysis Status
KRC129	128	RC	546840	1518090	126.6	60.00	-60 / 360	1m Splits
KRC130	128	RC	546840	1518050	126.0	66.00	-60 / 360	No Significant Results
KRC131	128	RC	546840	1518010	125.0	93.00	-60 / 360	1m Splits
KRC132	128	RC	546840	1517970	123.0	104.00	-60 / 360	1m Splits
KRC133	128	RC	546880	1518120	127.0	54.00	-60 / 360	1m Splits
KRC134	128	RC	546880	1518080	126.0	66.00	-60 / 360	Weak Cu mineralisation
KRC135	128	RC	546880	1518040	125.0	78.00	-60 / 360	No Significant Results
KRC136	128	RC	546880	1518000	123.0	78.00	-60 / 360	No Significant Results
KRC137	128	RC	546920	1518100	126.6	54.00	-60 / 360	No Significant Results
KRC138	128	RC	546760	1518040	126.0	68.00	-70 / 360	1m Splits
KRC139	128	RC	546760	1518000	124.8	105.00	-70 / 360	No Significant Results
KRC140	128	RC	546760	1517960	123.4	72.00	-70 / 360	1m Splits
KRC141	128	RC	546720	1518020	126.0	124.00	-60 / 360	1m Splits
KRC142	128	RC	546801	1517989	124.5	84.00	-70 / 360	No Significant Results
KRC143	128	RC	546878	1518148	127.0	60.00	-60 / 360	1m Splits

NOTES:

All RC results reported are one metre splits. Any interval marked with an asterisk (*) are wet samples.

Intervals are selected on a 0.5% Cu eq. cut-off.

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]

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.

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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 diamond drilling (DD) and percussion drilling (RC). Sampling of the diamond drilling comprised quarter core samples taken based on lithological, alteration, and mineralisation breaks observed in geological logging. 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. IP geophysical surveys completed include gradient array geophysics at Prospects 150, 117, 128, 170, 180, and 190 as well as a dipole-dipole IP surveys at Prospect 100 and 150. Survey data was monitored on a day-by-day basis by the consultant and company representative, and the data was deemed to be of high quality.
	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.	Core was cut using a core saw in half then one side quartered. RC samples comprised four metre composites collected using a PVC spear, and one metre splits collected using a rifle splitter. The DD and 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.).	Diamond drilling was undertaken using triple tube methodology in a variety of core sizes including PQ and HQ and NQ depending on the ground conditions and depth of investigation. 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.	Core recovery is recorded by measuring the core recovered from the drillhole against the actual drilled metres. Bulk RC drill samples were visually inspected by the supervising geologist to ensure adequate sample recoveries were achieved.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	The use of triple tube drilling as well as shorter runs in zones of broken ground were used to maximise the 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 throughout the drillholes, consistently above 90%, and as such there is no sample bias introduced as a result of sample 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 core and chips were geologically logged by Geopacific geologists using the Geopacific’s logging procedure.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.	Drill core and chips were logged both qualitatively (e.g. lithology, alteration, structure, etc.) and quantitatively (e.g. veining and mineralisation percentage, structural orientation angles, etc.). Drill core is photographed both dry and wet and is stored in plastic core 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.	Core is sawn quarter core, with one quarter sent for sample preparation and analysis. The remaining core is stored in the core trays.
	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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	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.
	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 are being measured from accurately located data points (RTK GPS survey data) using tap- and- compass method for more accurate data. These collars will be accurately located in the next round of surveying. IP geophysical sampling points were located using handheld GPS.
	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.	The majority of drill holes discussed in this report represent the exploration phase drill-out of new areas. Holes were drilled on regionally selected exploration targets and do not represent a resource drill-out stage. Where drilling was infill in nature, the spacing of the drillholes is a maximum of 40m. IP geophysical surveys were completed using the following spacings: • Gradient array: 25m dipoles on 100m spaced lines
	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. Exploration in this area is still in an early stage and therefore this point is not applicable for this announcement.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	Whether sample compositing has been applied.	Results released in this announcement that refer to diamond drilling are not subject to compositing. The results that refer to RC drilling are all 4m composites. One metre splits will be sent in from significant zones.
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.	From recent IP work completed at Prospect 117, a new interpretation of the orientation of the mineralisation was suggested. The orientation of the drilling, while not perpendicular to the mineralisation, is thought to not have introduced significant bias to the sampling. No sampling bias was introduced in the drilling at Prospect 128.
	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.	See above.
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.

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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
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.
	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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
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.

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