GEOPACIFIC RESOURCES LTD — Share Issue/Capital Change 2011

Dec 6, 2011

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Geopacific Resources NL

BONUS ISSUE OF OPTIONS

7 December 2011

The Board of Directors of Geopacific Resources NL is pleased to award its shareholders with a bonus issue of options.

This free issue is to thank our very patient and loyal shareholders for supporting the Company through the past 18 months of conducting ZTEM airborne geophysical surveys over its tenements in Fiji, the lengthy time to interpret that data, and to get advanced surface sampling and drilling commenced.

The issue of options is on the basis of one (1) free option for every two (2) fully paid shares held. The exercise price is $0.35 with an expiry of one year (365 days) from date of issue. It is expected that these options will be listed on the ASX.

The Black Scholes Option calculator gives a value of $0.092 per option, based on a current share price of $0.28, an exercise price of $0.35, 365 day exercise period, 4.25% risk free interest rate and 100% volatility.

In accordance with ASX Listing Rules 7.2, 7.7 and 7.16, and Appendix 7A, the timetable for the issue is:

Appendix 3B lodged	10/1/12
Ex Entitlement Date	13/1/12
Record Date	19/1/12
Despatch date	3/2/12

It is anticipated that an update will be provided next week on progress with drilling at the Nabila prospect. This is a large diameter (PQ) diamond core with a targeted depth of 850 vertical metres that is testing the ZTEM target as a possible copper-gold porphyry system.

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Charles Bass Executive Director, Geopacific Resources NL