Issue of Equity

RNS Number:8514P
Archipelago Resources PLC
17 September 2003

Archipelago Resources PLC (the "Company")



Issue of Equity



As set out in the Company's AIM admission document, the Company has now issued
1,184,500 ordinary shares of 1p each in respect of the following:



*         by an option agreement dated 26 August 2002, Emmanual P Deloso and
Rosalinda T Deloso granted Corplex Resources Inc the option to acquire the whole
of the beneficial interest in certain mineral interests held by Corplex on
behalf of the grantees, the consideration for which, post admission to AIM, was
the issue of 387,500 ordinary shares credited as fully paid

*         by option agreements dated 26 August 2002, Salvador Manipal, Corazon
Manipal, Ong Ching Liong and Robert Lewis Chaplin granted the Company the option
to acquire all of their respective interests in Corplex, the consideration for
which, post admission to AIM, was the issue of 575,000 ordinary shares credited
as fully paid

*         the issue of 222,000 ordinary shares to employees in lieu of services
totalling #44,400 .



Application has been made for the shares to be traded on AIM and admission is
expected on 23 September 2003.








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