Finders Project Overview

Since our initial listing on the AIM market of the London Stock Exchange in March 2006,
the Finders team has focused on advancing our two key pre-development properties in Indonesia, Wetar Copper and Ojolali Gold – Silver. We have also enjoyed good capital growth from our investment in the Fiji based exploration company, Geopacific Resources NL, whose shares have performed strongly on the ASX since its initial listing in May 2006.

Following a positive scoping study in June 2006, feasibility studies are underway for the Wetar project, targeting production at 25,000 tonnes per annum of copper commencing in 2009. Finders initially evaluated a plan to produce and ship a concentrate to an off-site hydrometallurgical facility. However recent positive results from bacterial leaching have opened the possibility for on-site production of copper cathode by heap leaching and solvent extraction/electrowinning, with a significant reduction in both capital and operating cost, so a comprehensive program of column leach test work has been instituted to properly evaluate this exciting alternative.

The Ojolali project now comprises approximately 5,900 hectares of leases controlled by Finders, encompassing an entire epithermal goldfield. Finders’ strategy at Ojolali is to pursue cash flow generation through a low cost start-up gold mining operation based on low stripping ratio open pit mining of the approximately 100,000 ounce Jambi oxide gold resource. The start up operation would then be expanded and upgraded to treat the major Tambang silver-zinc-lead gold vein system, targeting production of gold-silver rich base metal concentrates. Finders’ Directors consider that there is very good potential for discovery of significant additional resources at Ojolali, with multiple vein systems defined by surface mapping, ground geophysics and widespread distribution of artisinal mining pits.

The Directors believe that Finders is poised for strong growth as our projects move towards production, and that joint listing on the ASX will significantly improve the liquidity of Finders’ stock, access a much wider range of potential investors, and simplify trading for our current and new Australian based supporters.

View of Wetar

Ojolali Project Area

Finders strategy calls for:

Final feasibility study for Wetar by 2008.

Upgraded Jambi gold resource and development plan and schedule, third quarter of 2007.

Ultimate objectives (subject to feasibility results and development funding) of gold production at Ojolali in
2008 and copper production at Wetar in 2009.

Expansion of resource base through exploration success from multiple defined targets.

WORK PROGRAMME

A program of 2m column testing at HRL, using 12mm and 6.25mm crush sizes on a representative Kali Kuning crushed core composites.
A comprehensive program of amenability tests and 1m and 5m
column testing to be undertaken at AMMTEC Ltd laboratories in Perth for BioHeap Ltd on representative samples from both Kali Kuning and Lerokis.
Completion of Stage I of the Intermet study into production of concentrates, currently due for completion to early in May 2007.
AMDAD of Brisbane have been retained to develop revised mining schedules based on the February 2007 resource model generated by Hellman & Schofield.
Ongoing environmental monitoring, environmental management planning
Geotechnical assessment of tailings and heap options
An ongoing community development and awareness program for the local community
Feasibilty Stage 1 addresses process selection between heap leach and hydrometallurgy

Expected Time Line

Q2 2007 - Process testing completed
Q4 2007 - Feasibility study completed
Q1 2009 - Commercial production

WORK PROGRAMME

The planned work program at Ojolali will involve:
3000m of infill reverse circulation drilling to upgrade the Resources at Jambi to Indicated Mineral Resource status.
Extensive metallurgical testing for Jambi oxide mineralization.
Floatation test work for Tambang drill core samples to assess potential for base and precious metal concentrates.
Follow up infill and step-out drilling at Tambang if metallurgical testing successful.
Preliminary environmental impact and permitting studies.
A cost effective programme of systematic exploration for additional resources, comprising completion of first pass gradient array IP surveys over areas of known potential, followed up by detailed 3D IP over defined targets.
Ranking of additional vein systems based on an integrated program of geophysics and surface mapping and sampling.
Scout drilling of priority targets.

Expected Time Line

Q1 2007 - Scoping study completed
Q3 2007 - Feasibility study completed
Q2 2008 - Commercial production initially at 50,000 Oz / year
Q2 2009 - Mine expansion