Wetar Project Update Clarification

 
TIDMFND 
 
For Release: 7th July 2010 
 
                           FINDERS RESOURCES LIMITED 
 
               Wetar Project Update & Notice-Clarifying Statement 
 
We  have  been  advised,  by  the  ASX,  that the Ore Reserves quoted in today's 
release  to the  ASX, entitled  Wetar Project  Update and  Notice require a full 
breakdown  of those Reserves. This information has been announced previously and 
is now reported again. 
 
The  Ore  Reserves  were  independently  assessed  by  Australian  Mine Design & 
Development  Pty  Ltd  and  in  accordance  with  the  JORC  Code (Table 1). The 
following  statement uses a cut-off  of 0.5% copper for two  pits at Kali Kuning 
and Lerokis with an overall waste to ore ratio of 0.98. 
 
=----------------------------------------------------------------------------- 
Table 1:  Wetar Ore Reserves 
=----------------------------------------------------------------------------- 
                Category  Tonnes (m) Grade % Cu  Contained   Contained Copper 
                                                Copper (kt)  Attributable to 
                                                            Finders (94%) (kt) 
 
Kali Kuning Pit Proved       4.91       2.5     123                        116 
 
                Probable     0.85       2.2     19                          18 
 
                Sub-Total    5.76       2.5     142                        133 
=----------------------------------------------------------------------------- 
Lerokis Pit     Proved       2.05       2.4     49                          46 
 
                Probable     0.37       2.3     9                            8 
 
                Sub-Total    2.42       2.4     58                          55 
=----------------------------------------------------------------------------- 
Combined        Proved       6.96       2.5     172                        162 
 
                Probable     1.22       2.2     28                          26 
 
                Total        8.18       2.5     205                        193 
=----------------------------------------------------------------------------- 
The  tonnes and grades are  stated to a number  of significant digits reflecting 
the  confidence  of  the  estimate.   Since  each  number  and  total is rounded 
individually  the columns and rows in the above table may not show exact sums or 
weighted averages of the reported tonnes and grades. 
 
Further   details  for  all  projects  may  be  found  on  the  Finders  website 
atwww.findersresources.com 
 
 Finders Resources Ltd: 
 
 Russell Fountain   Non-Executive Chairman       [phone] 
 
 Chris Farmer       Managing Director            [e-mail] 
 
 
 
 Financial PR: 
 
 Nick Elwes         College Hill (in the UK)     [phone] 
 
 
 
 RFC Corporate Finance Ltd - Nomad: 
 
 Rob Adamson        Managing Director            [phone] 
 
 Stuart Laing       Executive Director           [phone] 
 
 
 
 FinnCap -  Finders' Broker for the AIM market: 
 
 Matthew Robinson   Corporate Finance Director   [phone] 
 
 Joe Lunn           Analyst                      [phone] 
 
 
 
 
Finders Resources Ltd through its subsidiary PT Batutua Tembaga Raya and partner 
PT Batutua Kharisma Permai are proud sponsors of Sail Banda 2010 
sailbanda.com 
 
 
 
 
 
Competent Person Statements 
The  information in this  report that relates  to exploration potential, mineral 
resource  and  ore  reserve  estimation  is  the  responsibility  of  Dr Russell 
Fountain.   Dr Fountain is a Director of  Finders and a Fellow of the Australian 
Institute  of  Geoscientists.   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   in  the  2004 Edition  of  the  'Australasian  Code  for  Reporting  of 
Exploration  Results, Mineral Resources  and Ore Reserves'  (JORC Code) and as a 
Qualified  Person as defined in the AIM  Rules.  He consents to the inclusion in 
this  report of the matters based on his  information in the form and context in 
which they appear.  All assaying of drill core samples was undertaken by the ITS 
laboratory  in Jakarta. ITS is one of  the world's largest product and commodity 
testing,  inspection and certification organizations.  The Jakarta laboratory is 
ISO  17025 accredited  and  employs  a  Laboratory Information Management System 
(LIMS) for sample tracking, quality control and reporting. 
 
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,  including  those  with  respect  to permitting and 
development  timetables,  mineral  grades,  metallurgical  recoveries, potential 
production  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. 
 
No Representation, Warranty or Liability 
Whilst  it is provided in  good faith, no representation  or warranty is made by 
Finders  or  any  of  its  advisers,  agents  or  employees  as to the accuracy, 
completeness, currency or reasonableness of the information in this Announcement 
or  provided in connection  with it, including  the accuracy or attainability of 
any Forward Looking Statements set out in this Announcement. 
Finders  does not accept any responsibility to  inform you of any matter arising 
or  coming to  Finders' notice  after the  date of  this Announcement  which may 
affect any matter referred to in this Announcement. 
Any  liability of Finders, its  advisers, agents and employees  to you or to any 
other  person or entity  arising out of  this Announcement including pursuant to 
common  law, the Corporations  Act 2001 and the  Trade Practices Act 1974 or any 
other  applicable  law  is,  to  the  maximum extent permitted by law, expressly 
disclaimed and excluded. 
 
Distribution Restrictions 
The  distribution  of  this  Announcement  may  be  restricted by law in certain 
jurisdictions. Recipients and any other persons who come into possession of this 
Announcement must inform themselves about, and observe any such restrictions. 
 
 
 
 
[HUG#1430057] 
 
 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. 
The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein. 
All reproduction for further distribution is prohibited. 
 
Source: Finders Resources Limited via Thomson Reuters ONE