GEOPACIFIC RESOURCES LTD — Interim / Quarterly Report 2011

Jul 28, 2011

29 July 2011

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The Company Announcements Office Australian Stock Exchange Limited, Exchange Centre, Level 6, 20 Bridge Street, SYDNEY, NSW 2000

GEOPACIFIC – QUARTERLY REPORT FOR THE PERIOD TO 30 June 2011

Geopacific Resources NL (“Geopacific”) is pleased to provide the following report on corporate news and exploration activities undertaken at the Company’s Fiji projects during the three month period ending 30 June 2011. Additional information about the Company is available on Geopacific’s website at www.geopacific.com.au .

1. Highlights

• State of the art 3D inversion of the Nabila and Vuda/Sabeto ZTEM airborne geophysical data was performed by Mira Geosciences of Canada. At Nabila, a large conductive zone was determined at much greater depths than previous IP surveys or shallow diamond drilling could detect. A deep diamond drill hole target has been established and a suitable drill rig is currently being sourced.

• Surface mapping of the Sabeto (Vuda Project) deep ZTEM resistivity anomaly located favourable rock types, alteration and mineralisation that is consistent with known porphyry copper-gold systems, Outcrop samples returned up to 1.71g/t Au and 1.23% copper.

2. Projects and Activities

2.1 Nabila Project

SPL1216 - 100% Millennium Mining (Fiji) Ltd (subsidiary of GPR) SPL1415 - 100% Millennium Mining (Fiji) Ltd (subsidiary of GPR) CX691 (application) - 100% Millennium Mining (Fiji) Ltd (subsidiary of GPR)

Detailed interpretation of the deep drill target south east of Faddys has been undertaken. The Nabila area was covered by Geopacific’s ZTEM (electromagnetic) survey in late 2010 and a deep buried conductive target was identified to the SE of the Faddy’s gold deposit.

Figure 1 shows several features overlain on the satellite imagery of the area which includes the Faddy’s deposit. The deep ZTEM conductive zone identified in by the work is outlined by the red line. The ZTEM flight lines are shown as north-south oriented thin black lines. The east west black lines are the locations of inversion cross sections of ZTEM data prepared during the study. The contours of a ground survey of Induced polarisation (IP) chargeability inversion

Geopacific Resources NL ACN 003 208 393

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

Australia – Sydney Level 4, 425 Elizabeth St (PO Box 477) Surry Hills NSW 2010 AUSTRALIA

T +61 2 8622 1691 F +61 2 8622 1694

Fiji – Nadi

PO Box 9975 Nadi Airport Nadi FIJI

T +679 6 72 7150 F +679 6 72 7152

Geopacific Resources NL page - 1 - June, 2011Quarterly Report 29/07/2011

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

Area of Faddy’s gold
Area covered by
deposit
ZTEM deep anomaly
IP chargeability
anomaly
Location of Figure 2
Deep ZTEM
conductive anomaly
Scale
400 metres
----- End of picture text -----

Figure 1. Satellite image of the area south of the Faddys Deposit (outline in blue) showing the area of the ZTEM conductive zone (red line). The ZTEM flight lines are shown as the NS thin black lines. The EW black lines are the locations of inversion cross sections prepared during the study. The contours of an IP chargeability inversion slice at 96mRL are shown in yellow. Drill holes are shown by red dots.

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slice (at 96mRL depth) are shown by the yellow contours in Figure 1. The prominent IP anomaly in the area of interest was tested by drill shallow holes UBD001 to UBD003 which intersected several intervals of weak base metal mineralisation and well developed propylitic alteration. The IP survey did not investigate to depths more than about 200mRL and the ZTEM indicates that this anomaly extends to considerable depths over a large area.

Figure 2 shows the ZTEM conductivity depth section along east west section line 8024300N (refer Figure 1 for location). This clearly shows the deep conductive zone of interest as well as a shallow strong ocean conductor caused by the effect of salt water in the west.

The size and shape of the feature are compatible with a significant porphyry type deposit and Geopacific is planning to test this with a deep drill hole when logistics can be arranged.

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Geopacific Resources NL ACN 003 208 393

2.2 Nadi South Project

SPL1434 - 100% Geopacific Ltd (subsidiary of GPR)

Reporting and map compilation/interpretation of recent sampling and geological surveys was undertaken during the period.

2.3 Vuda and Sabeto Projects

SPL1368 Geopacific Ltd (subsidiary of GPR) has an option to purchase 80% SPL1361 Geopacific Ltd (subsidiary of GPR) has an option to purchase 100%

A consultant Geologist Mr Jonathan Hoye undertook a reconnaissance mapping survey of the Sabeto ZTEM resistivity target north of Nadi in SPL1361. The field work located numerous interesting alteration and textures (Figure 3) which include:

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

Australia – Sydney Level 4, 425 Elizabeth St (PO Box 477) Surry Hills NSW 2010 AUSTRALIA

T +61 2 8622 1691 F +61 2 8622 1694

Fiji – Nadi

PO Box 9975 Nadi Airport Nadi FIJI

T +679 6 72 7150 F +679 6 72 7152

Geopacific Resources NL page - 2 - June, 2011Quarterly Report 29/07/2011

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• Zones of intense advanced argillic alteration (sericite-illite-chlorite-silica) containing abundant disseminated framboidal pyrite.

• A broad zone of argillically altered monzonite of varying intensity (sericite-chlorite-illite-limonite) with widespread fine disseminated pyrite.

• A zone of narrow (10-40mm) planar limonitic shears, locally showing laminated texture and quartz-vein cores and sericite-dominant alteration selvages with chalcopyrite stringers.

• Weakly sericite altered feldspar-phyric hornblende monzonite with widespread areas of disseminated to veinlet pyrite and sparse quartzmagnetite veinlets.

• Areas of close-spaced 5-10mm quartz-calcite-pyrite veins with narrow adularia-sericite selvages in otherwise weakly altered hornblende+/biotite monzonite.

Outcropping pyrite-chalcopyrite mineralised monzonite at Location 3 in Figure 3 (sample 21124) contained high gold (up to 1.71g/t Au) and copper (1.23% Cu). This rock (Figure 4) is an altered monzonite with abundant shear zones containing pyrite-chalcopyrite-gold mineralisation.

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Figure 3. Satellite image of the Sabeto area showing the location of the ZTEM resistivity anomaly and anomalous gold and copper monzonite outcrops. Grid spacing is 500 metres.

Geopacific Resources NL ACN 003 208 393

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

Australia – Sydney Level 4, 425 Elizabeth St (PO Box 477) Surry Hills NSW 2010 AUSTRALIA

T +61 2 8622 1691 F +61 2 8622 1694

Fiji – Nadi PO Box 9975 Nadi Airport Nadi FIJI

T +679 6 72 7150 F +679 6 72 7152

Geopacific Resources NL page - 3 - June, 2011Quarterly Report 29/07/2011

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Figure 4. Hand specimen of argillic altered monzonite sample 201124 containing 1.71g/t Au and 1.23% Cu.

The survey has confirmed that the rocks in the area of the Sabeto ZTEM anomaly have textures, alteration, mineralisation and structure common to rocks peripheral to some porphyry copper–gold deposits and further follow-up work is planned to help define targets for drill testing.

2.4 Cakaudrove Project

CX750 (application) - 100% Geopacific Ltd (subsidiary of GPR)

Community liaison was undertaken in preparation for field evaluation during the next quarterly period. Field work including geological mapping and sampling is planned to investigate geophysical and geological target areas.

2.5 Nuku Project

SPL1377 - 100% Geopacific Ltd (subsidiary of GPR) CX667 (application) – 100% Geopacific Ltd (subsidiary of GPR)

Geopacific Resources NL ACN 003 208 393

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

Australia – Sydney

No fieldwork was undertaken. Data interpretation and reporting have continued during the period.

Level 4, 425 Elizabeth St (PO Box 477) Surry Hills NSW 2010 AUSTRALIA

2.6 RakiRaki Project

SPL1231, SPL1373, SPL1436 50% Beta Ltd (subsidiary of GPR) - Operator 50% Peninsula Minerals Ltd

T +61 2 8622 1691 F +61 2 8622 1694

Fiji – Nadi

Further assessment of the ZTEM is required prior to field follow-up of target areas. Community liaison was undertaken and environmental field inspection of previous drill locations and trenching was completed.

PO Box 9975 Nadi Airport Nadi FIJI

T +679 6 72 7150 F +679 6 72 7152

Geopacific Resources NL page - 4 - June, 2011Quarterly Report 29/07/2011

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3. Occupational Health and Safety

A workplace safety and training procedures are now well established. No work injuries occurred during the quarter.

4. Corporate

4.1 Relocation of Australian Office

Geopacific is planning to relocate the Company’s Australian office to Perth during the next quarter. Details of the new office address and contact numbers are expected to be available during early August.

4.2 Annual General Meeting

The Annual General Meeting of Geopacific Resources NL was held at 11.00 am on Friday 27[th] May 2011. The resolutions, as set out below, and put to the Geopacific Resources NL Annual General Meeting were carried on a show of hands.

Resolution 1 Receive Financial Report

To consider and, if thought fit, to pass the following ordinary resolution: “That the Company’s Financial Report for the financial year ended 31 December 2010 together with the related Directors' and Auditor’s reports be received.”

Resolution 2 Adoption of Remuneration Report

To consider and, if thought fit, to pass the following ordinary resolution: “That the Company’s Remuneration Report for the financial year ended 31 December 2010 be received, approved and adopted.”

Resolution 3 Election of Director – Mr Russell J Fountain

To consider and, if thought fit, to pass the following ordinary resolution: “That Mr Russell J Fountain, a Director retiring in accordance with the Company's Constitution and being eligible for re-election, be re-elected a Director of the Company.”

Resolution 4a Allotment of Shortfall shares to Mr Charles B Bass

To consider and, if thought fit, to pass the following ordinary resolution: “That the placement of 272,417 shares to Mr Charlie Bass or his associates at 60 cents per share to take up the shortfall of the July 2010 SPP be and is hereby approved.”

Resolution 4b Allotment of Shortfall shares to Mr Stephen T Biggs

To consider and, if thought fit, to pass the following ordinary resolution: “That the placement of 272,417 shares to Mr Tim Biggs or his associates at 60 cents per share to take up the shortfall of the July 2010 SPP be and is hereby approved.”

Geopacific Resources NL ACN 003 208 393

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

Australia – Sydney

Level 4, 425 Elizabeth St (PO Box 477) Surry Hills NSW 2010 AUSTRALIA

T +61 2 8622 1691 F +61 2 8622 1694

Fiji – Nadi

PO Box 9975 Nadi Airport Nadi FIJI

T +679 6 72 7150 F +679 6 72 7152

Geopacific Resources NL page - 5 - June, 2011Quarterly Report 29/07/2011

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4.3 Steven Whitehead joins Geopacific as Exploration Geologist

Mr Steven Whitehead has joined the company as Exploration Geologist. Steven has a BSc(hons) degree in geology from the University of Western Australia and more than five years experience as a Project Geologist. Prior work has included stints with Rubianna Resources Ltd and Helix Resources Ltd and these have included most aspects of field exploration and drill testing for gold and basemtals. Steven’s early work with Geopacific will include supervision of the deep drill testing of ZTEM targets.

Additional information on the Company's projects and previous Geopacific announcements are available on Geopacific's website at www.geopacific.com.au .

Yours faithfully,

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Ian J Pringle (Managing Director)

Competent Person Statement

The review of exploration activities and results contained in this report is based on information compiled by Dr Ian Pringle , a Member of the Australasian Institute of Mining and Metallurgy. Dr Pringle is the Managing Director of Geopacific Resources NL and also a Principle of Ian J Pringle & Associates Pty Ltd, a consultancy company in minerals exploration. He has sufficient experience which is relevant to the style of mineralization and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Dr Pringle has consented to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Geopacific Resources NL ACN 003 208 393

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

Australia – Sydney

Level 4, 425 Elizabeth St (PO Box 477) Surry Hills NSW 2010 AUSTRALIA

T +61 2 8622 1691 F +61 2 8622 1694

Fiji – Nadi

PO Box 9975 Nadi Airport Nadi FIJI

T +679 6 72 7150 F +679 6 72 7152

Geopacific Resources NL page - 6 - June, 2011Quarterly Report 29/07/2011

Appendix_5B_30_June_2011.xls

Appendix 5B

Mining exploration entity quarterly report

Rule 5.3

Name of entity
Geopacific Resources NL
ACN or ARBN 003 208 393 Consolidated statement of cash flows Cash flows related to operating activities 1.1 Receipts from product sales and related debtors	Quarter ended("currentquarter")
	30-Jun-11
	Current quarter $A'000		Year to date (6 months) $A'000
1.2 Payments for (a) exploration and evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid (received) 1.7 Other income Net Operating Cash Flows	(172) (133) 23		(384) (228) 31
	(282)		(581)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	-		(1)
	-		(1)
	(282)		(582)

1

Appendix_5B_30_June_2011.xls

1.13 Total operating and investing cash flows(brought forward)	Current quarter $A'000		Year to date (6 months) $A'000
	(282)		(582)
Cash flows related to financing activities 1.14 Proceeds from issues of shares 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material)- Capital raising costs 1.19 Other (provide details if material)- Applications for shares re placement 6.7.10 Net financing cash flows	327		327
	327		327
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	45 1,870 -		(255) 2,170 -
	1,915		1,915

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 Aggregate amount of payments to the parties included in item 1.2 1.24 Aggregate amount of loans to the partiesincludedin item 1.10	36	36
	-
1.25 Explanation necessaryforanunderstanding ofthe transactions Salaries,Directors fees and consultancyfees at normal commercial rates. Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest Financing facilities available Add notes as necessary for an understanding of the position. 3.1 Loan facilities 3.2 Credit standby arrangements
	Amount available $A'000	Amount used $A'000
	-	-
	-	-
	$A'000 200 - - 100 300
Estimated cash outflows for next quarter 4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A'000
	200 - - 100
Total	300

2

Appendix_5B_30_June_2011.xls

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flo to the related items in the accounts is as follows. 5.1 Cash on hand and at bank Deposits at call Bank overdraft Other - 30 day bank bills	Current quarter $A'000	Previous quarter $A'000
	620 273 - 1,022	575 273 - 1,022
Total: cash at end ofquarter(item 1.22)	1,915	1,870

Changes in interests in mining tenements

• 6.1 Interests in mining tenements relinquished, reduced or lapsed

• 6.2 Interests in mining tenements acquired or increased

Tenement reference	Nature of interest	Interest at beginning ofquarter	Interest at end of ofquarter

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Number quoted	Issue price per security (see note 3) (cents)	Amount paid up per security see note 3) (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions
7.3 Ordinary securities 7.4 Changes during quarter (a) Increases through issues- (b) Decreases through returns of capital, buy-backs, redemptions	36,578,791	36,578,791
	544,834	544,834
7.5 Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions

3

Appendix_5B_30_June_2011.xls

7.7 Options	7.7 Options	7.7 Options
	Description and conversion factor		Total Number	Number Quoted	Exercise price	Expiry Date
16 December 2011 Options 8 May 2012 Options 8 May 2013 Options 8 May 2014 Options 1 August 2013 Options 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter 5 years after defining JORC 200,000 oz at Faddys Gold Deposit 10 years after defining JORC 1.000,000 oz at Faddys Gold	16 December 2011 Options 8 May 2012 Options 8 May 2013 Options 8 May 2014 Options 1 August 2013 Options 5 years after defining JORC 200,000 oz at Faddys Gold Deposit 10 years after defining JORC 1.000,000 oz at Faddys Gold	1 share for 1 option 1 share for 1 option 1 share for 1 option 1 share for 1 option 1 share for 1 option 1 share for 1 option 1 share for 1 option	7,242,106 100,000 100,000 100,000 600,000 800,000 200,000	0 0 0 0 0 0 0	$0.30 $1.00 $1.25 $1.50 $0.50 $2.50 $5.00	16-Dec-11 8-May-12 8-May-13 8-May-14 1-Aug-13 Unknown Unknown
7.11 Debentures
7.12 Unsecured

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act 2001 or other standards acceptable to ASX (see note 4).

• 2 This statement does give a true and fair view of the matters disclosed.

Sign here: (Director) Print name: Dr Ian Pringle Date: 29 July 2011

Notes

• 1 The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.

• 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Cash Flow Statements apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

4