GEOPACIFIC RESOURCES LTD — Capital/Financing Update 2016

Feb 7, 2016

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SUCCESSFUL RENEGOTIATION OF ACQUISITION TERMS

8 February 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

Geopacific Resources Ltd (Geopacific or the Company) is pleased to announce that it has successfully renegotiated the payment terms of the acquisition agreement with the Vendors of the Kou Sa copper gold project in Cambodia.

HIGHLIGHTS

• Final payment split and deferred to build milestones

• Bankable Feasibility Study: - US$1.575m

• Production: - 2% royalty capped at US$8.425m

This will be replaced with the new terms which see future payments being deferred and linked to achieving two project development milestones which are receipt of financial closure and production targets. The new terms see the company conserving cash which will be spent ‘in the ground’ at Kou Sa, where as original terms required a cash payment in July.

No further vendor payments are due on the Kou Sa Project until the completion of financial closure as per the renegotiated terms, as Geopacific has made the January milestone payment.

Managing Director, Ron Heeks said

DIRECTORS

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

PROJECTS

CAMBODIA: Kou Sa Copper

“W e have achieved a more realistic outcome in light of difficult capital markets and the downturn in commodity pricing – making the negotiations a success. This result is beneficial to shareholders and reduces our need to return to the market for capital. We remain focussed on moving Kou Sa towards production and will invest available cash in the ground.

We would like to acknowledge the support of the Vendors in this process. Their willingness to work with us to achieve a realistic outcome and share some of the risk, is testament to the ongoing belief in the Kou Sa Project and is appreciated.”

FIJI:

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

CONTACT

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

Mr Ron Heeks

Managing Director

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