GEOPACIFIC RESOURCES NL (ASX: GPR)

COMPLETION OF PLACEMENT AND DETAILS OF NON-RENOUNCABLE ENTITLEMENTS ISSUE

Media release 25 November 2009

Geopacific Resources NL has announced the completion of the placement of 9,446,225 new ordinary shares to Laguna Bay Capital Pty Limited ACN 120 814 600 and Springtide Capital Pty Limited ACN 090 701 189 (New Investors) to raise approximately $283,000 before costs (the Placement).

In addition, the Company has finalised an arrangement with the New Investors to underwrite a pro-rata non-renounceable entitlements issue (the Offer) to raise approximately $2,172,000 before costs.  The New Investors have agreed to subscribe for any Offer shortfall of up to 33,333,333 shares ($1,000,000), inclusive of the entitlements offered as part of the placement.

The proceeds of the Placement and the Offer will be applied towards additional working capital and to progress exploration work at the Company?s Fiji tenements.

Managing Director, Dr. Ian Pringle, said ?The placement to institutional investors provides additional capital to fund exploration work at our prospective Fiji tenements and the entitlements issue allows existing shareholders to participate in the capital raising on an equal basis as institutional investors to help fund continuing work at the Faddy?s gold project. With current gold price close to Fiji$2,200 per ounce and climbing our projects are receiving considerable attention?.

Details of the Non-Renounceable Entitlements Issue

The Company has initiated a one-for-one (1:1) non-renounceable entitlement issue of approximately 72 million new shares to raise approximately $2,172,000 at an offer price of $0.03 per share (Offer). Under the offer, eligible shareholders will be able to subscribe for one new share for each one existing share held (1:1) as at the Record Date at an issue price of $0.03. Eligible shareholders that accept the offer will be allocated one free attaching option for every two entitlement shares taken up.  The options will not be listed and convert at $0.06 per share with an expiry of 16 December 2011.

The Offer will be open to existing holders of fully paid shares in the Company registered as such as at the record date.

The Offer will be underwritten to $1,000,000, which will be applied towards any offer shortfall. The underwriters are the New Investors under the Placement. The underwriters have agreed to subscribe for any Offer shortfall of up to 33,333,333 shares ($1,000,000), inclusive of the entitlements offered as part of the placement.

All New Shares will rank equally with existing shares from allotment. The entitlements are non-renounceable and therefore rights will not be tradeable on ASX or otherwise transferable. Shareholders who do not take up their entitlements will not receive any value in respect of those entitlements they do not take up.

Eligible shareholders are holders of Geopacific shares, including Placement shares in this issue, that are registered as a holder as at 5.00pm (AEST) on the record date.  The record date for the Offer is 5.00 pm (AEST) Monday, 30 November 2009.

The Offer will be open between Tuesday, 1 December 2009 and Tuesday, 15 December 2009. The Record Date for the Offer will be 5.00pm (AEST) on Monday, 30 November 2009.

The Board will reserve the right to place shares for a period of three (3) months should there be a shortfall in the take up of the Offer and the Underwritten Component.

The Placement and Entitlements Offer is being managed by the Company?s adviser, BurnVoir Corporate Finance Limited.

Further Information

For further information please contact Ian Pringle, Managing Director, on (02) 9699 7311 or ianp@geopacific.com.au. An overview of Geopacific Resources NL can be viewed at www.geopacific.com.au

Timetable

The indicative timetable for the entitlements issue is as follows:

Top 20 Holders

*Note: Related parties

Doug Macdonald

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Capital Group

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