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
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