RNS Number:2232V
Finders Resources Limited
20 April 2007



20th APRIL 2007



                          WETAR COPPER PROJECT UPDATE



Finders Resources is the operator of the Wetar Copper and Ojolali Gold-Silver
Projects, both in Indonesia and holds an investment in Geopacific Resources NL,
an ASX-listed company.



The Wetar Copper Project, based on the Kali Kuning and Lerokis deposits, is
currently in the feasibility stage after the completion of a Scoping Study in
June 2006.  The feasibility study is in two stages, the first of which is
designed to evaluate and select the optimum processing option.  Finders has
previously reported copper recoveries of around 86% using the Albion and
HydroCopper hydrometallurgical techniques after production of a rougher
concentrate and is currently completing test work on a heap leach processing
alternative.



HIGHLIGHTS



  * New tenements acquired with known gold-copper mineralisation greatly
    increase potential to expand the existing resource base



*         Detailed flotation concentrate test work is now complete with:

      * An estimated copper recovery of 89.1% at a concentrate grade of 16.3%
        Cu expected across the Kali Kuning ore body
      * Formulation of an optimal flotation regime
      * Lower than expected energy requirements for grinding and  lower than
        expected concentrate moisture content

*         Heap leach test work ongoing with:

      * 1m columns complete, observations of clean residues with no
        significant precipitation provide encouragement for geotechnical heap
        stability, final mass balance calculations are pending.
      * 2m column tests underway using non-proprietary bacteria
      * Successful BioHeapTM adaptation test work of Lerokis samples using
        proprietary bacteria.



Chris Farmer, Managing Director, said



"The Wetar Copper Project is on track and the results of the latest test work
continue to enhance project economics in comparison to the June 2006 Scoping
Study.  We are excited by the potential for onsite copper production with faster
lead times and lower capital costs and expect to make the process choice once
recoveries are confirmed from the column tests.



In addition to the considerable operational progress moving towards feasibility,
we believe the acquisition of new tenements could materially enhance our
resource base, adding considerable value to the Wetar project specifically and
for our shareholders in general. "



For further information please contact:



College Hill: Paddy Blewer or Nick Elwes, 020 7457 2020



Finders Resources Ltd: Chris Farmer, cbf@findersresources.com



Website:http://www.findersresources.com






WETAR COPPER PROJECT

(Finders 72.385% and earning)



Flotation Test Work



Finders have received a preliminary report from Intermet Engineering which
summarises the findings of comminution test work, 42 flotation tests and
subsequent viscosity, filtration and thickening tests on flotation products.
Two composite core samples made up from the appropriate Kali Kuning core
sections were submitted to the Optimet Laboratories in Adelaide, South Australia
in October 2006 for detailed metallurgical testing. A single master composite
was prepared to represent the Kali Kuning ore body at a calculated head grade of
3.42% Cu. This consisted of a blend of 60% Breccia and 40% Stockwork Ore.



The major conclusions drawn from this study are:



*         The Kali Kuning ores fall into the range of soft to very soft. To
achieve optimal grind size post crushing, it is anticipated that a relatively
low 26 kWh/t of energy input will be required.

*         The operational performance was found to differ little with either a
100% Stockwork or 100% Breccia feed when compared to the Master Composite. An
estimated copper recovery of 89.1% at a concentrate grade of 16.3% Cu is
expected across the ore body.



Heap Leach Test Work



At Hydrometallurgy Laboratories, Brisbane, the first four 1m high test columns
using Kali Kuning and Lerokis core material and non-proprietary bacteria were
completed and dismantled on 16th March 2007.  A full suite of head and tailings
samples have been dispatched to several assay laboratories to confirm final
copper recoveries from mass balance calculations. Preliminary results indicate
significantly higher copper recoveries from Kali Kuning (+60%) than Lerokis 
(less then 40%) reflecting a higher proportion of chalcopyrite in the Lerokis
mineralization.



Photographic documentation indicates that physically the columns performed very
well with virtually no sign of any size breakdown in the column or fracturing of
particles. The final residue is very clean with a light dusty coating of
precipitates; about a tenth of that observed in typical high sulphide leach
tails. Further 2m high column tests commenced on 15th February 2007 using Kali
Kuning samples to assess the effect of different crush sizes, initially at 6.5mm
and 12.5mm.



At BioHeapTM a second phase of test work began in February 2007 following the
success of the first phase of work reported in January. Initial results have
been received from a series of three adaptation tests on Lerokis core samples.
Two of the three bacterial cultures trialed showed encouraging performance with
60-65% copper reporting to solution. These results indicate that the proprietary
bacterial cultures may offer a significant improvement in leach performance
compared to "conventional" bacteria in the chalcopyrite rich Lerokis ore. Leach
amenability tests are underway. Similar tests are also being undertaken on Kali
Kuning samples.



New Tenements



On March 20th 2007, Finders reached an agreement with PT Batutua Kharisma Permai
to amend the existing Cooperation Agreement to incorporate three new tenements
on Wetar Island (see below, Appendix 1)


Project           Tenement           Tenement Type     Date Issued     Validity       Area    Owner
                                                                                      (ha)
                  KP decision No.
Wetar             543/954 of 2006    Survey            Oct 16, 2006    1 year         9,358   BKP
                  543/955 of 2006    Exploration       Oct 16, 2006    3 years        2,636   BKP
                  543/956 of 2006    Survey            Oct 16, 2006    1 year         9,441   BKP



The new KPs cover prospects discovered and partly drilled by Billiton in the
late 80's/early 90's. Exploration in these KPs will target three known prospects
with gold-bearing barite-sand mineralisation, with associated massive sulphides,
similar in style to the Kali Kuning and Lerokis gold-barite copper systems, in
three specific prospects, namely:



  * Pantai Merah Prospect -11 drill holes/457m; reported "potential" for
    600,000t @ 1.6 g/t Au, 77 g/t Ag, 15.5% Ba; one hole intersected Cu under
    gold barite mineralisation.



  * W6 (Ilwaki) Prospect -8 drill holes/777m; best result 14m @ 0.55 g/t Au,
    95 g/t Ag



  * Batu Duri (J91) Prospect -9 drill holes/602.5m; best Au result: 7m @ 1.1 g
    /t Au, best copper 10m @ 4.5% Cu



In addition, several drainages within the KP areas have anomalous geochemistry
and indications of barite-gold mineralisation. The source of these has never
been followed up.



Finders plans to explore for Kali Kuning style massive sulphide mineralisation
around these prospects, beneath shallow cover rocks, initially using TEM
geophysical techniques which have proven effective in locating the known massive
sulphide systems.



Statements by Finders



Geological information in this announcement is based on information compiled by
Dr R Fountain who is a Fellow of the Australasian Institute of Geoscientists and
a Director of Finders. Dr Fountain has sufficient experience that is relevant to
the styles of mineralisation and types of deposits under consideration and to
the activity that he is undertaking to qualify as Competent Person as defined in
the JORC Code. He consents to the inclusion in this announcement of the matters
based on his information in the form and context in which they appear.

Statements in this document that are forward-looking and involve numerous risks
and uncertainties that could cause actual results to differ materially from
expected results are based on the Company's current beliefs and assumptions
regarding a large number of factors affecting its business. Actual results may
differ materially from expected results. There can be no assurance that (i) the
Company has correctly measured or identified all of the factors affecting its
business or the extent of their likely impact, (ii) the publicly available
information with respect to these factors on which the Company's analysis is
based is complete or accurate, (iii) the Company's analysis is correct or (iv)
the Company's strategy, which is based in part on this analysis, will be
successful.

Appendix 1
For diagram please see Finders Resources website.


Notes for editors and analysts:

Finders Resources LTD (AIM:FND)
www.findersresources.com

Advanced Projects in Indonesia Wetar Copper Project

                               -       9.8 Mt @ 2.5% Cu, 0.4% Zn, 28 g/t Ag and 0.68 g/t Au, in two
                                       deposits at a cut-off grade of 0.5% Cu

                               -       Independent JORC estimates; approx. 35% measured, 55% indicated

                               -       High grade, low strip ratio, coastal location

                               -       Variety of process route alternatives being investigated

                               -       Exploration potential with known satellite deposit

                               -       72.385% Finders with potential for further expenditure-based
                                       equity

                               Ojolali Gold -Silver Project

                               -       Jambi Prospect: CIL or CIP target with Inferred Resource of around
                                       100,000 oz Au and low strip ratio

                               -       Tambang Prospect:  Current Inferred Resource of around 40 million
                                       Oz Ag and around 170,000 Oz Au

                               -       Bonanza grade veins targeted in under explored mining district.

                               -       72% Finders

Investment                     Geopacific Resources (ASX:GPR)

                               -       Portfolio of copper-gold and gold projects in Fiji, many existing
                                       ore grade intercepts and 10 drill-ready targets

                               -       Finders has a 15% interest in Geopacific

Proven Team                    -       Extensive collective experience and expertise in the exploration,
                                       assessment, evaluation and development of mineral projects

                               -       Track record of bringing mines into development

                               -       Significant, extended Indonesian experience

Finders Resources Limited      -       Market capitalisation of #13.2 million on 19/04/07

                               -       Fast track development and cash generation potential

                               -       Quality team



Resource estimates are reported in accordance with the 2004 edition of the
Australasian Code for Reporting Exploration Results, Mineral Resources and Ore
Reserves (the "JORC Code", available at www.jorc.org). The estimates were
performed by Dr Phillip Hellman who is a Director of Hellman & Schofield Pty Ltd
("H&S") and a Fellow of the Australian Institute of Geoscientists. He qualifies
as a Competent Person under the meaning of the JORC Code and consents to the
inclusion of these estimates in this release by Finders Resources Ltd in the
form and context in which they appear.


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

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