AR. Archipelago Res

RNS Number:5271Q
Archipelago Resources PLC
20 March 2008

                                  ANNOUNCEMENT



                          TOKA  TINDUNG  GOLD  PROJECT



                                   FINANCING



                                      and



                           PROPOSED  GENERAL  MEETING







On 17th March 2008 Archipelago Resources plc ("Archipelago" or "the Company")
announced that it had received Government approval to proceed with development
of the Company's Toka Tindung Gold Project in North Sulawesi, Indonesia ("
Project").  The Company also advised that based on the very robust economics of
the Project at today's gold price and the need to fund increased project capital
costs arising from the delay to approval, that it is in discussion with its
syndicate banks to increase the project loan facility to avoid or minimise the
need for any additional equity raising.



Since last being granted shareholder approval, the Company has undertaken
several placements of shares and now seeks approval to refresh its authority
level in accordance with prudent corporate practice.  While the Company
currently has no immediate requirement to issue additional shares, it considers
it appropriate to have the necessary authority in place in case this situation
changes or if for any other unforeseen reason the Company wishes to issue shares
including to take advantage of opportunities which may arise.



Accordingly, a Notice has been issued to shareholders regarding the calling of a
General Meeting to grant authority to the Directors to issue additional shares
in the Company.



Archipelago is a mining company listed on the AIM market of the London Stock
Exchange.  The Company's principal activities are gold mining and exploration in
Indonesia (as 85% owner of the Toka Tindung Gold Project in Sulawesi), Vietnam
(as majority party in the Pac Lang and Cam Thuy/Ba Thuoc joint ventures with
VINACOMIN a Vietnamese Government mining company) and the Philippines (as option
holder over a 100% interest in the Corplex tenements).







Further Info:          Colin Loosemore, Managing Director, Archipelago Resources
Plc.

                                Tel:         00-618-9364-8301



                                Richard Chase, Ambrian Partners Ltd

                                Tel:         020-7776-6461



                                Ron Marshman / John Greenhalgh, City of London
PR Limited

                                Tel:         020-7628-5518



                                Gerry Beaney / Fiona Kindness, Grant Thornton
Corporate Finance

                                Tel:         020 7383 5100



                        www.archipelagoresources.com.au




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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