PROMISING GOLD ASSAY RESULTS AT RAKI RAKI PROJECT,...

PROMISING GOLD ASSAY RESULTS AT RAKI RAKI PROJECT, FIJI

(Geopacific Resources NL 50%/Peninsula Minerals Limited 50%)
“Extensive stream sediment sampling has located several anomalous gold areas at
Raki Raki and extended the area of known mineralization at the Qalau-4300E area
approximately 2km further to the south West” – Geopacific Resources NL
Peninsula Minerals Limited (the Company) is pleased to announce that the joint
venture operator Geopacific Resources NL (Geopacific) today reported that is has
received anomalous gold assay results from recent stream sediment sampling at the
Raki Raki project in Fiji.
These high gold values in stream sediments collected south west of Qalau-4300E have
highlighted a two kilometre zone extending from Qalau which is an interpreted source
area for anomalous gold. The sampling has defined an area south of Wasit village
(Area A on Figure 1) which extends for over one kilometre and included anomalous
BCL stream sediments up to 34.2ppb Au.
As has been previously reported, an IP-Resistivity survey and follow-up drilling
conducted at the Qalau-4300E Prospect during 2006 located gold mineralisation in
the Qalau and 4300E portion of the B-R grid, as depicted in the eastern portion of
Figure 1 below. South of the Qalau area (Prospect 3 in Figure 1) high gold values in a
stream sediment sample from site 9305 (47.2ppb Au) indicates mineralisation at Qalau
extends further to the south (Area B on Figure 1).
Follow-up of these anomalies by Geopacific will include mapping and prospecting
and drill testing of targets in the north-eastern part of the B-R Grid is expected to
commence in late July 2007.