10 million tons tin, page-2

REPUBLIC TARGETS 10 MILLION CUBIC METRES OF TIN BEARING ALLUVIUM

The Board of Republic Gold (“Republic” or the “Company”) announces that it has signed a Heads of
Agreement to enter into a Joint Venture with Staldor Mining Pty Limited (“Staldor Mining”) to explore
and mine on a series of granted exploration and mining leases and lease applications that are highly
prospective for tin and other heavy minerals. The Company plans to commence an initial phase of
work immediately, consolidating all of the historical geological data for one of the most prospective
areas, the Kangaroo Creek Project, and then move into an alluvial mining phase at Kangaroo Creek.
Kangaroo Creek has an existing treatment plant from earlier mining activity that will require
refurbishment and a serviceable camp. Staldor Mining believes that the Kangaroo Creek Tin Mine
has potential for 5.5 million cubic metres of tin bearing alluvial material and the Dickson Creek Tin
Prospect has potential for 4.4 million cubic metres of tin bearing alluvial material. Appraisal of the
other project areas will be commenced after the initial work at Kangaroo Creek is completed.
The ability to generate a cash flow in the near future from this investment is of prime importance to
the Company. Nearly all the lease areas have considerable potential for tin, with the aim of the Joint
Venture being to set up a number of operating tin plants on the project areas. The price of tin has
exploded in the past few months, rising from US$16,000 per tonne at the start of the year to its
current price of over US$20,000. Tin’s recent high was over US$25,000 per tonne.

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