GEOPACIFIC RESOURCES LTD — Capital/Financing Update 2016

Aug 22, 2016

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KOU SA GOLD RESULTS 6m @ 3.56 g/t Au

23 August 2016

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) re-releases the announcement made on 12 August 2016 regarding exploration results for Prospect 190 Gold at the Kou Sa Project in Cambodia. The previous announcement referred to metal equivalent calculations which have been deleted from this announcement as no metallurgical test work has been completed on these exploration samples.

HIGHLIGHTS

• 6m @ 3.56g/t Au and 15.48g/t Ag

• Near-surface, high-grade mineralisation

• Continuous along strike, at depth and towards surface

• Remains open to West and East

Prospect 190 Gold

Recent drilling encountered additional gold and silver mineralisation in the newly identified epithermal system at the Prospect 190 Gold area.

The results confirm that the Prospect 190 Gold holds potential to host more significant gold mineralisation

Previous results from the prospect include 7.35m @ 10.93 g/t Au & 121.65 g/t Ag in hole KDH178 – NEW GOLD DISCOVERY (released 15-Mar-16). These results are up-dip from the previous results and indicate that the zone extends upwards while also continuing to the west. The gold zone at Prospect 190 Gold remains open to the west and east with a potential open plunge to the south west.

High-grade intersections are included below:

Hole ID	From (m)	Interval (m)	Au (ppm)	Ag (ppm)
KDH228	22.50	6.00	3.56	15.48
incl.	22.50	3.00	6.80	29.45

Managing Director, Ron Heeks said:

PNG Woodlark Gold

“The 190 Gold zone continues to produce results extending the zones potential. Importantly the large size of the alteration suggests further potential at depth. Drilling will continue to test the zone to the west and at depth and we look forward to more positive results.”

“We have an experienced team with the expertise to do justice to the projects in our portfolio and to maximise value for our shareholders. We are excited about what the future holds for Geopacific.”

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What the results at Prospect 190 Gold indicate

The results from Prospect 190 Gold sustain the potential of a substantial, deeper source at Kou Sa which is capable of driving the wide zones of mineralisation found at Prospect 190 Gold and in several other areas. These results show smaller zones of high-grade mineralisation situated within wide, lower-grade zones, all close to surface. The wide zones of lower-grade mineralisation are associated with broad zones of altered rocks suggesting the presence of a larger, deeper source of mineralised fluids.

The gold to silver ratio in these results indicate that the intersections are at the upper levels of an epithermal system. It follows that the expectation is for gold to increase with depth. Further drilling is planned at Prospect 190 Gold, to test for extensions to the mineralisation down-dip and down plunge.

Results are shown in the drill hole location plan below.

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Figure 1: Prospect 190 Gold – Drill hole location plan showing new intersection and geochemistry contours.

New results are labelled in yellow.

The wide zones of alteration containing lower grade mineralisation are evident in Figure 2. The central core of this zone contains a higher grade zone of gold and silver mineralisation. The width of the alteration suggests that a larger mineralising system was required to create this zone and this bodes well for the depth potential at Prospect 190.

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Figure 2: Prospect 190 Gold – Cross section showing new drilling results (yellow)

The plunge to the west of the mineralisation displayed in Figure 3, hghlights where a structural offset has moved the system upwards and to the north. The zone in this area is covered by a limestone unit that may be significant in the formation of the system, but also masks the ability of geochemistry to target the zone. IP geophysics has been shown to be able to look below the limestone and assist with drillhole targeting.

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Figure 3: Prospect 190 (Gold) – Long section showing gram-metre contours and the potential extension under the limestone.

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Trenching results at Prospect 190 Gold

Results from trenching undertaken at Prospect 190 Gold highlighted that the mineralised system is still open to the east, with an intersection of 66m at 0.13g/t Au, which included 5m at 0.7g/t Au and 10g/t Ag (KTRC040; Figure 4). This trench was designed to test along strike from the surface expression of the known mineralisation, A trench (KTRC039) which was designed to test up dip from the known mineralisation was also successful, identifying 23m at 0.3g/t Au, including 5m at 0.7g/t Au and 3g/t Ag.

Further trenching tested geophysical anomalies to the north-west with no significant results. A new geological interpretation suggests that the trenches were too far north to test the interpreted extension to the gold-silver mineralisation and that a thin limestone layer that would mask any geochemical response is covering any extension to the mineralised zone. Mineralised zones at Kou Sa have typically been associated with limestone layers that have formed pressure traps to rising mineralised fluids, on account of this, drilling is planned to test for the interpreted extensions below this limestone layer.

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Figure 4: Results from trenching at Prospect 190 Gold.

Background on Prospect 190 (Gold)

The prospect was originally identified from geochemical soil sampling, which produced a strong gold and coincident arsenic anomaly. Initial drilling at the prospect identified near-surface gold mineralisation associated with a zone of strongly altered and silicified rocks. Subsequent drilling identified a strongly altered, gold-silver mineralised zone of rocks that had the potential to be associated with epithermal gold and silver mineralisation. The near surface mineralisation displayed a gold-silver ratio suggesting that initial intersections are through the upper reaches of the system with mineralisation expected to produce improved grades, as the system deepens.

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Ongoing exploration

Exploration at Kou Sa continues with a two-pronged approach; testing anomalous zones to initially identify prospects which allows for overall evaluation of the licence and, simultaneous definition of an initial resource with a scoping study. The overall aim is to generate revenue while developing a better understanding of the bigger exploration picture.

The strong results at Prospect 190 Gold have shown that the project can produce epithermal gold-silver zones with substantial grades. Consequently, a similar gold and silver geochemical anomaly at Prospect 170 will be investigated with diamond drilling. Previous drilling in this area identified broad zones of anomalous silver up to 41g/t. Combined with the results from Prospect 190 Gold this suggests that drilling at Prospect 170 has the potential to identify a gold-zone, deeper into the epithermal system. A deep-looking IP geophysics program just completed at Prospect 170, also identified a significant chargeability anomaly that indicates that the presence of an epithermal system. Geophysics will be used to assist with targeting of future drilling.

Development plans for Kou Sa

Geopacific’s strategy remains focussed on developing Kou Sa to generate revenue that will support continued expansion. The target is a ‘kickstarter’, maiden resource and scoping study to take the project into production with a modest but profitable operation and ongoing exploration to increase the scale of the project well beyond the initial resource.

The Board of Geopacific is excited by the potential of the new, gold epithermal-system discovered at Prospect 190 (Gold) which could prove sufficient to impact on the direction and development of the project in the near or longer term. This potential and its impact will continue to be assessed as drilling results provide more information on the system.

While exploration continues, so does work on the scoping study where Geopacific is making confident strides towards the aim of being a low-cost producer.

The Board looks forward to keeping shareholders apprised of all project developments and exploration results as we continue to move the Kou Sa project forward in accordance with the strategy.

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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PROSPECTS AT KOU SA

Prospect location plan over IP Geophysics

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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.

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WHY DO THE COMMODITIES DIFFER BETWEEN PROSPECTS?

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

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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 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.

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APPENDIX A – DRILLING & TRENCHING DETAILS

Key for results tables

Colour	**% org/t **
Blue	0.1 – 0.2
Orange	0.2 - 0.5
Red	0.5 – 1.0
Pink	>1.0

Significant Drill Results – Prospect 190 Gold

Hole ID	From	Interval	**Aug/t **	**Ag g/t **
KDH180*	40.00	17.25	0.13	1.35
KDH180	59.40	1.90	16.84	70.07
KDH1801*	80.85	20.65	0.13	1.20
KDH181* incl.	31.70 34.00	19.30 1.00	0.41 1.37	0.80 0.90
KDH204*	74.00	18.00	0.15	0.53
KDH225* incl.	62.25 63.50	5.95 1.30	0.45 1.18	3.36 10.20
KDH225*	73.60	4.40	0.27	8.00
KDH225	84.65	8.50	0.49	4.11
KDH227*	0.00	11.00	0.20	0.63
KDH227*	14.00	15.00	0.18	1.80
KDH227 incl.	29.00 33.00	6.50 2.50	1.11 1.90	10.80 15.55
KDH227*	35.50	15.30	0.23	3.91
KDH228* incl.	22.50 22.50	6.00 3.00	3.56 6.80	15.48 29.45

Drill Hole Details – Prospect 190 Gold

Hole ID	Prospect	Hole **Type **	Easting	Northing	RL	Depth	Dip/Azi	Analysis Status
KDH180	190 Gold	DDH	551127	1517245	146.0	197.8	-53/360	Released
KDH181	190 Gold	DDH	551127	1517245	146.0	218.5	-68/360	Released
KDH204	190 Gold	DDH	551166	1517220	145.0	204.0	-50/360	Released
KDH225	190 Gold	DDH	551127	1517282	146.2	158.4	-45/360	Released
KDH227	190 Gold	DDH	551165	1517342	149.4	127.6	-45/360	Released
KDH228	190 Gold	DDH	551125	1517335	147.1	106.4	-45/360	Released
KDH229	190 Gold	DDH	551127	5517185	144.9	229.3	-60/360	AwaitingResults
KDH233	190 Gold	DDH	551205	1517265	146.2	163.4	-45/360	AwaitingResults

1 Previously announced (28-Apr-2016) but interval increased with extended sampling

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Significant Trench Results – Prospect 190 Gold

Hole ID	From	Interval	**Aug/t **	**Ag g/t **
KTRC037	38	2	0.11	BDL
KTRC039	90	23	0.30	1.03
incl.	95	5	0.71	3.14
KTRC040	16	66	0.13	1.32
incl.	76	6	0.13	10.43

Trench Details – Prospect 190 Gold

Hole ID	Prospect	Hole **Type **	Easting	Northing	RL	Depth	Dip/Azi	Analysis Status
KTRC037	190	TRENCH	550927	1517532	148.65	113	0/180	No significant results
KTRC038	190	TRENCH	551092	1517540	167.65	166	0/180	No significant results
KTRC039	190	TRENCH	551200	1517497	159.6	113	0/180	Released
KTRC040	190	TRENCH	551393	1517372	148.5	82	0/360	Released
KTRC041	190	TRENCH	551600	1517282	143.4	68	0/180	No significant results

NOTES:

Intervals are selected on a 0.5g/t Au cut-off, with low grade halos selected on 0.1g/t Au cut-off (*).

No metallurgical test work has been completed on these prospects.

Drill hole and trench 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 trenching. Sampling of the trenches comprised channel sampling along the base of one wall of the trench. Sampling was completed on 1 and 2 metre intervals. Sampling of the diamond drilling comprised quarter core samples taken based on lithological, alteration, and mineralisation breaks observed in geological logging. 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.	Core was cut using a core saw in half then one side quartered. Trench samples comprised one and two metre samples collected from a continuous channel. The 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 drill hole against the actual drilled metres. 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.	The use of triple tube drilling as well as shorter runs in zones of broken ground were used to maximise the sample recovery. Trench samples were collected from a continuous channel along one wall of the trench.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	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 drill holes, 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 holes and trenches 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.	Logging was conducted 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. Trenches are also photographed for reference later.
	The total length and percentage of the relevant intersections logged.	All holes and trenches 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.	Trench samples were collected as whole samples and not split.
	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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	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.	Drill hole and trench 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. Trench surveys were completed using tape and compass.
	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 drill holes discussed in this report represent the exploration phase drill-out of new areas. The drill spacing is set to a nominal 40m x 40m grid pattern and do not represent a resource drill-out stage.
	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 or 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.
	Whether sample compositing has been applied.	Results released in this announcement that refer to diamond drilling are not composited.
Orientation of data in relation to geological tt	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	Current interpretations suggest that no significant bias was introduced.
srucure	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 sampling bias has been introduced to the drill holes reported herein.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
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. Some minor QAQC issues were identified in related batches but the issues were identified and have not impacted on the results released.

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 volcanoclastic 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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
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 0.5g/t Au (unless otherwise stated), 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.	No equivalent grades have been reported in this announcement.
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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
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.	Refer to text.
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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