no fee payable close those shorts

29 October 2007 ASX ANNOUNCEMENT
CLARIFICATION OF SPECULATION ON TERMINATION OF MERGER
Subsequent to the announcement on 25 October 2007 of the decision by each of the Boards of Sundance
Resources Limited (ASX: SDL) and Gindalbie Metals Limited (ASX: GBG) not to proceed with the proposed
merger of the companies, there has been considerable speculation regarding the payment of a A$15 million
break fee and the recommendations of the Independent Expert.
Sundance would like to clarify both points as follows:
1) NO break fee is payable by Sundance as a consequence of the decision by Sundance and Gindalbie to
terminate the merger; and
2) NO report was completed by, nor any recommendation received from, the Independent Expert. The
Independent Expert was engaged by Sundance to report on whether the proposed merger by way of
Scheme of Arrangement was in the best interests of Sundance shareholders. The Independent Expert
had no role in undertaking due diligence investigations into Sundance or Gindalbie.
Shareholders are referred to the September 2007 Activities Report released on 26 October 2007 for an
update on exploration, including first results released from drilling at the Mbarga prospect on Exploration
Permit No. 92. These drilling results outline promising +60% Fe hematite mineralization at the Mbarga
prospect, consistent with previous exploration carried out at the prospect by the United Nations Development
Program (“UNDP”).
With a cash balance of A$76 million at the end of September 2007 and the support of a strong shareholder
group, Sundance is progressing its exploration and development program on its 90%-owned Mbalam Project.
The Board’s target resource exploration objectives for the project are unchanged with the Company currently
preparing to ship the first of two new RC drill rigs from South Africa to expedite resource definition work at
the Mbarga prospect and to extend drilling activities to adjacent prospects.
ENDS
For further information contact:
Don Lewis, Managing Director / George Jones, Chairman
(+61-8) 9220-2300
Web: www.sundanceresources.com.au