GEOPACIFIC RESOURCES LTD — Capital/Financing Update 2012

Dec 19, 2012

ASX RELEASE 20[th] December 2012

GEOPACIFIC RESOURCES NL

ACN 003 208 393

GOLD MINERALISATION IDENTIFIED WITHIN TRENCHING (AMENDED RELEASE)

ASX Code: GPR

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

AUSTRALIAN OFFICE

Geopacific Resources NL (“GPR”) is pleased to report that significant gold mineralisation has been intersected in trenching over the Rakiraki JV project (50% Peninsula Minerals Ltd) in Fiji, and that Cyclone Evan has not seriously affected Geopacific’s employees, families or facilities.

Suite 6, 125 Melville Parade Como, WA 6152

PO Box 111 South Perth, WA 6951

T +61 8 6365 5573 F +61 8 6210 1682

HIGHLIGHTS

There were no injuries to Geopacific employees or their families from Cyclone Evan. There was slight damage to some of the company’s facilities.

FIJI OFFICE

Lot 1 Cawa Road Martintar, Fiji Islands

PO Box 9975 Nadi Airport Nadi

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

A 15 metre-wide zone of gold mineralisation with values up to 5.44g/t Au, identified within assays received from trenching at the Rakiraki JV Project, covers a 200m strike spanning across three trenches. Mineralised intercepts include:

• QTR001 - 14.9m @ 1.5g/t Au, including 3m @3.75g/t Au and 2m @ 3.36g/t Au

• QTR002 - 12.0m @ 0.24g/t Au, including 1m @ 1.36g/t Au

• OTR003 - 15.0m @ 0.28g/t Au, including 2m @ 0.78g/t Au

• QTR003 – 6.0m @ 0.36g/t Au

Sabeto’s stream sediment sampling identified copper anomalism southeast of diamond drillhole SBDD001

A third diamond drillhole (SBDD003) at Sabeto did not contain any significant porphyry-related mineralisation

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ASX RELEASE – 20[th] DECEMBER 2012

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Figure 1: Project location map

CYCLONE EVAN

Geopacific is pleased to report that all its Fijian employees and their families are unharmed and in good health, and that Geopacific’s offices and various other buildings remain relatively undamaged by Cyclone Evan. There is, however, a few weeks of clean up and minor repairs required.

Cyclone Evan, A category 4 tropical cyclone, hit the northwest coast of both of Fiji’s main islands (Viti Levu and Vanua Levu) on Monday 17[th] December, with heavy rain and winds up to 270kph. No fatalities were recorded in Fiji; however, the areas affected have been declared a disaster zone including Nadi, the location of Geopacific’s offices.

Geopacific extends its sympathy to those in Fiji and Samoa affected by Cyclone Evan.

RAKIRAKI TRENCHING

SPL 1231, SPL 1373, SPL 1436 50% Beta Ltd (subsidiary of GPR) – Operator 50% Peninsula Minerals Ltd

Assays just returned from recent trenching at the Qalau prospect (Rakiraki JV) have identified a 15 metre-wide zone of gold mineralisation, with values up to 5.44g/t Au, across three trenches over a strike of 200m.

The mineralisation is hosted in a zone of quartz veining within a sequence of olivine-basalts and volcaniclastics and is coincident with a low rise hill within cane fields. Extensions of this low rise can be seen, slightly offset, to the south of the trenching.

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ASX RELEASE – 20[th] DECEMBER 2012

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Table 1: Rakiraki trench details

	WGS84 ZONE 60S	WGS84 ZONE 60S			INTERVAL(m)	AU(g/t)
			LENGTH	AZIMUTH
TRENCH ID	EASTING	NORTHING
QTR001	621,655	8,075,844	112m	60°Including	14.93.02.0	1.53.753.36
QTR002	621,669	8,075,778	101m	90°Including	12.01.0	0.241.36
QTR003	621,637	8,075,991	158m	60°Including	6.015.02.0	0.360.280.78

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ASX RELEASE – 20[th] DECEMBER 2012

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Figure 2: Qalau trenches showing zones of gold mineralisation

A ground magnetic survey has been completed over a 1.5km[2] area centred on the Qalau prospect, aimed at identifying the structural framework of the prospect area. This programme will enable Geopacific to identify the orientation and potential extensions of the mineralised structures within the trenching, as well as any parallel, potentially mineralised structures worthy of trenching.

Follow-up trenching is planned to be completed within Q1 2013 over the potential extension to the south of the trenching and any structures identified as potential hosts to mineralisation from the magnetic survey.

SABETO STREAM SEDIMENT SAMPLING

Results of detailed infill stream sediment sampling over the Sabeto prospect has identified coherent multi-element geochemical anomalies indicative of a potential porphyry centre to the southeast of SBDD001.

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Figure 3: Plan map showing location of stream sediment geochemical anomaly with respect to drilling

High gold assays (>0.1g/t Au) are noted within the areas around SBDD002 and SBDD003, and are thought to be related to the carbonate gold-base metal mineralisation within that area. Coincident

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ASX RELEASE – 20[th] DECEMBER 2012

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copper, molybdenum, tellurium, and weak gold anomalism are noted within the drainage to the south and east of drillhole SBDD001. This geochemical association, along with the previously identified porphyry-related mineralisation in SBDD001 (32m @ 0.24g/t Au and 0.12% Cu from 90m; GPR’s June 2012 Quarterly Report) identifies this area to the southeast of SBDD001 as having potential for a mineralised Au-Cu porphyry system.

SABETO DRILLING

A third drillhole (SBDD003) at the Sabeto project was completed in early-November for a total of 394.8m. The drillhole intersected strong biotite-magnetite alteration within a volcaniclastic breccia as well as feldspar porphyry toward the end of the hole.

Assays for this drillhole were returned in December. While the drillhole was successful in identifying alteration responsible for the potassium radiometric anomaly (strong biotite alteration within volcaniclastics), no significant porphyry-related mineralisation was encountered. Minor elevated gold was noted within the biotite-magnetite altered volcaniclastics, and sporadic weak gold and copper mineralisation is noted toward the bottom of the hole.

Anomalous gold values in this hole are indicative of a more peripheral setting to porphyry mineralisation similar to that encountered in SBDD002.

For further information contact

Steven Whitehead | Exploration Manager Charles Bass | Executive Director +61 430 478 160 +61 409 880 907 steven.whitehead@geopacific.com.au charlie@cbass.com.au

Competent Persons Statement

The review of exploration activities and results contained in this report are based on information compiled by Mr Steven Whitehead, B.Sc., M.A.I.G . , Exploration Manager for Geopacific. He is a member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation 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). Steven Whitehead has consented to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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