RNS Number : 0647A
  Archipelago Resources PLC
  29 July 2008
   
    ANNOUNCEMENT



    ARCHIPELAGO RESOURCES PLC

    TOKA TINDUNG GOLD PROJECT

    PROPOSED PROJECT FINANCING
    by
    CREDIT SUISSE  (SINGAPORE)



    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 160,000 oz per annum, 85% owned Toka Tindung Gold Project in North Sulawesi, Indonesia (the
"Project").

    On 15th July 2008 the Company reached agreement with Credit Suisse, Singapore Branch ("Credit Suisse") to provide a conditional US$48m
loan facility (the "Loan Facility") for development of the Project. The Company is now working with Credit Suisse to finalise the legal and
other commercial arrangements necessary to facilitate the drawdown under the Loan Facility.

    Credit Suisse has developed great associations and experience over many years lending into Indonesia and the Directors look forward to
developing a mutually beneficial relationship with Credit Suisse and their associates in the years ahead.

    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

                             Ron Marshman / John Greenhalgh, Lothbury Financial
                             Tel:    020-7011-9411

                            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
 
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