Today the company has released to the Australian Stock Exchange latest drilling results from Jambi Oxide Gold Project

More High Grade intercepts from Jambi Oxide Gold deposit, Ojolali Project

HIGHLIGHTS

Excellent assay results have been received from resource drilling at the Jambi oxide gold deposit at the Ojolali Au-Ag Project.  

⁺Au equivalents are calculated using Ag g/ divided by 50 plus Au g/t

Eighty-nine (89) RC drill holes have been completed for a total of 7,705m of drilling, with assays received from the first fifty (50) holes.

The drilling program has been extended to reflect new discoveries of high grade gold and silver mineralisation found adjacent to the established resource envelope and is forecast to be completed by mid-March leading to a revised Mineral Resource estimate in April.

Russell Fountain, Executive Chairman of Finders said

�These results are extremely encouraging; not only do they confirm the continuity of high grade shoots within wider zones of greater than 0.5g/t Au in the known resource area, but they also provide great encouragement for a much larger resource base with new extensions apparent to the west, south west, north and north east of the drilling area.   

In addition, a zone of strong silver grades in the southern part of the prospect area is indicative of a supergene enriched blanket of silver mineralization around the base of oxidation.  BKJR71 has a new intercept of 2m @ 2,100 g/t Ag and this is located approximately 30m south west of the previously announced 3m @ 2,929 g/t from BKJ22.�

For detailed information included in this release please visit our website

www.findersresources.com


For further information please contact:

Finders Resources Ltd:
Russell Fountain, Executive Chairman, +61 (0) 2 9211 8299
Chris Farmer, Managing Director, cbf@findersresources.com

Financial PR:
Doug Macdonald, +61 (0) 424 255 959, Capital Group (in Australia)
Paddy Blewer or Nick Elwes, 020 7457 2020, College Hill (in the UK)

RFC Corporate Finance Ltd (Finders� Nominated Adviser for the AIM market):
Rob Adamson, +61 (0)2 9250 0000
Stuart Laing, +61 (0)8 9480 2506, stuartl@rfc.com.au


Competent Person Statement

The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the �JORC Code�) sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. The information contained in this announcement has been presented in accordance with the JORC Code and references to �Indicated� and �Inferred Resources� are to those terms as defined in the JORC Code.

Geological and Mineral Resource information in this announcement is based on information compiled by Dr R Fountain who is a Fellow of the Australasian Institute of Geoscientists and a Director of Finders. Dr Fountain has sufficient experience that is relevant to the styles of mineralisation and types of deposits under consideration and to the activity that he is undertaking to qualify as Competent Person as defined in the JORC Code. He consents to the inclusion in this announcement of the matters based on his information in the form and context in which they appear.

Statements by Finders Resources Ltd

Geological information in this announcement is based on information compiled by Dr R Fountain who is a Fellow of the Australasian Institute of Geoscientists and a Director of Finders. Dr Fountain has sufficient experience that is relevant to the styles of mineralisation and types of deposits under consideration and to the activity that he is undertaking to qualify as Competent Person as defined in the JORC Code. He consents to the inclusion in this announcement of the matters based on his information in the form and context in which they appear.
Statements in this document that are forward-looking and involve numerous risks and uncertainties that could cause actual results to differ materially from expected results are based on the Company�s current beliefs and assumptions regarding a large number of factors affecting its business. Actual results may differ materially from expected results. There can be no assurance that (i) the Company has correctly measured or identified all of the factors affecting its business or the extent of their likely impact, (ii) the publicly available information with respect to these factors on which the Company�s analysis is based is complete or accurate, (iii) the Company�s analysis is correct or (iv) the Company�s strategy, which is based in part on this analysis, will be successful.

Background

Finders, listed on AIM and ASX, is the operator of the Wetar Copper (~73% and earning), and Ojolali Gold-Silver Projects (72% with option) in Indonesia, and holds an investment in Geopacific Resources NL, an ASX-listed company with active exploration programs for gold and copper in Fiji.

At the Wetar Copper Project, Finders has previously announced Measured, Indicated and Inferred Resources at a 0.5% copper cut-off grade, of 9.8 million tonnes at 2.5% copper for 248,000 tonnes contained copper in two deposits, Kali Kuning and Lerokis. The company is planning to develop an open cut heap leach SX-EW copper mining operation to produce 20-25,000 tonnes of cathode copper per year from mid 2009. A key component of the feasibility study for this project is the construction of a semi-commercial scale test heap and pilot plant, designed to produce 5 tonnes per day of copper cathode from July 2008, with an estimated capital cost of US$6.25 million.

At the Ojolali Project, Finders has previously announced Inferred Resources at the Jambi Oxide gold deposit (3.2 Mt @ 1.0 g/t Au, 6.9 g/t Ag at a 0.5 g/t Au cut-off, and including mining dilution) and Inferred Resources at the Tambang Prospect (7.9 Mt @ 167g/t Ag and 0.7 g/t Au at a 1 g/t Au equivalent cut-off using drilling data from a previous explorer).

Finders� believes that the Ojolali project has strong potential to generate short-term cash flow through open pit CIL/CIP development of the gold resource at the Jambi Oxide gold deposit. Other prospects have outstanding potential for the discovery of additional resources using modern geophysical techniques to optimize drill targeting.

For further information on results previously reported and a full resource statement please visit our website www.findersresources.com