FINDERS RESOURCES LTD

Finders Resources Ltd report that the Wetar Copper Project Definitive Feasibility Study (DFS) indicates an economically robust project with a mine life of approximately nine years. Life of mine operating costs are estimated to be US$1.00/lb Cu and the project has a total funding requirement of up to US$118 million. Following a review of the DFS results, the Finders board has approved ordering of long lead items to fast track Stage 1- expansion of the demonstration plant to 5,000 tpa copper cathode. The company is reviewing the mining schedules, waste and ore movement, and mining indirect costs relating to the Stage 2- the Whim Creek SX-EW plant expansion- with the expectation of being able to reduce the funding requirement. The Wetar Project is located on the north coast of Wetar Island, in the Maluku province, Indonesia.