announcement text

15 April 2005
AUSTPAC RESOURCES N.L. SECURES
LONG TERM EQUITY FINANCE FACILITY
Austpac Resources N.L. is pleased to announce that a $3,000,000 equity finance facility has
been arranged with United States investment fund, Cornell Capital Partners L.P.
The facility allows Austpac Resources to access $3,000,000 of equity capital over the next
five years. Shares issued under this facility will be priced at a discount of 2% to the lowest
daily volume weighted average price of Austpac Resources N.L. shares traded on each of
the ten consecutive trading days which follow a placement request by Austpac Resources
N.L. Commission of 5% will be payable at the time of issue.
Cornell Capital is managed by United States based Yorkville Advisors L.L.C. and has a
growing reputation in the United States of America and United Kingdom financial markets for
structuring equity participation agreements. To date, the Cornell Group has provided in
excess of $600,000,000 for over fifty publicly quoted corporations.
For further information please contact:
Mike Turbott
Managing Director
Austpac Resources N.L.
Tel (+61-2) 9221-3211