FND Finders Res.

 
TIDMFND 
 
For Release: 1st June 2009 
                      FINDERS RESOURCES LIMITED 
 
                        WETAR COPPER PROJECT 
              OPTION TO ACQUIRE SX-EW PROCESSING PLANT 
 
In a significant step in the development of the Wetar Copper Project, 
Finders Resources  ('Finders') is  pleased to  announce that  it  has 
entered into  a  legally  binding Heads  of  Agreement  ('Agreement') 
covering the  commercial  terms  of  an  option  to  acquire  Straits 
Resources Limited's ('Straits') Whim Creek SX-EW plant. 
 
The Agreement gives Finders the right to purchase the SX-EW Plant and 
associated equipment at any time during the period 1 October 2009  to 
31 December 2009. On the date of exercising the option, Finders  will 
pay Straits A$5.0  million plus  GST, payable in  Finders fully  paid 
ordinary shares.   Straits will  also be  issued 724,638  fully  paid 
Finders ordinary shares as the option fee for the Agreement. 
 
The Whim Creek SX-EW  Plant has a capacity  of 18,000 tonnes  copper 
cathode per  year  and Finders  will  use these  parameters  plus  an 
expansion of the existing 2,000  tonnes per year demonstration  plant 
as the  basis for  the completion  of the  remainder of  the  project 
Feasibility Study. 
 
Rob Thomson, Finders Director of Development said: 
 
"The planned acquisition of the SX-EW  plant is a major milestone  in 
the development of the Wetar  Copper Project and adds robustness  and 
greater certainty to the project economics. 
 
The purchase of a proven operational SX-EW plant reduces much of  the 
capital cost uncertainty  and lead time  uncertainty associated  with 
building a new plant. 
 
It is  anticipated  that the  acquisition  of the  SX-EW  plant  will 
significantly reduce the overall capital cost of the project and  the 
quantum of this benefit will be determined as part of finalising  the 
feasibility study." 
 
Ends 
 
For further information please contact 
 
 
Finders Resources Ltd: 
Russell         Non-Executive Chairman      +61 2 9211 8299 
Fountain 
Chris Farmer    Managing Director           info@findersresources.com 
 
Financial PR: 
Doug Macdonald  Capital      Group      (in +61 424 255 959 
                Australia) 
Nick Elwes      College Hill (in the UK)    +44 20 7457 2020 
 
RFC Corporate Finance Ltd - Nomad: 
Rob Adamson     Managing Director           +61 2 9250 0000 
Stuart Laing    Executive Director          +61 8 9480 2500 
 
FinnCap -  Finders' Broker for the AIM market: 
Mathew Robinson Corporate Finance Director  +44 20 7600 1658 
Joe Lunn        Analyst                     +44 20 7600 1658 
 
 
 
Background on Finders Resources 
Finders, listed on AIM and ASX,  is the operator of the Wetar  Copper 
Project (92% and earning), and the Ojolali Gold-Silver Project  (72% 
with option), both located in Indonesia. 
 
At the Wetar Project,  as part of a  definitive feasibility study,  a 
demonstration SX-EW plant with 5t per day copper cathode capacity was 
commissioned in February 2009 and is permitted to process 100,000t of 
ore from  the  Kali  Kuning  deposit.   The  demonstration  plant  is 
producing LME Grade A copper  cathode at planned rates.  The  Company 
is targeting  commercial  production  of 20-25,000  tonnes  per  year 
cathode by 2010, subject to final feasibility, permitting and project 
funding. 
 
At the Ojolali Project,  Finders controls what it  considers to be  a 
major new  epithermal  gold district,  and  has been  undertaking  an 
extensive  exploration  program   comprising  detailed  drilling   to 
establish an initial mining resource, supported by extensive  surface 
geophysical  and  geochemical  surveys.  Finders  believes  that  the 
Ojolali project has  strong potential to  generate cash flow  through 
open pit CIL/CIP development of the gold resource at the Jambi  Oxide 
gold deposit. 
 
For further information  on results  previously reported  and a  full 
resource statement please visit our website www.findersresources.com. 
 
 
Disclaimer 
This announcement may or may not contain certain "forward-looking 
statements". All statements, other than statements of historical 
fact, which address activities, events or developments that Finders 
believes, expects or anticipates will or may occur in the future, are 
forward-looking statements. Forward-looking statements are often, but 
not always, identified by the use of words such as "seek", 
"anticipate", "believe", "plan", "estimate", "targeting", "expect", 
and "intend" and statements that an event or result "may", "will", 
"can", "should", "could", or "might" occur or be achieved and other 
similar expressions. These forward-looking statements reflect the 
current internal projections, expectations or beliefs of Finders 
based on information currently available to Finders. 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. Finders expressly disclaims any obligation to update 
or revise any such forward-looking statements. 
 
=--END OF MESSAGE--- 
 
 
 
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement. 
 

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