Vietnam Exploration Licences

RNS Number:0480A
Archipelago Resources PLC
24 June 2004



ARCHIPELAGO RESOURCES PLC


ANNOUNCEMENT

                                                                       JUNE 2004

              ARCHIPELAGO MAKES MOVE INTO VIETNAM WITH APPLICATION

               FOR LICENCES OVER WELL - MINERALISED GOLD DISTRICT


* Licence Applications Cover Areas of Mineralised Outcrop


* Focus On Two Large Structural Targets Considered Prospective For Carlin
  Style Gold Deposits


* Favourable Logistics and established Infrastructure


The Company has applied for two contiguous Exploration Licences covering the Cam
Thuy - Ba Thuoc gold district in northern Vietnam in which the main targets are
two large fold structures within calcareous sediments that are considered
prospective for Carlin and possibly Telfer-style gold deposits.


The applications include part of the Ma River fault system, a structure which is
parallel to the Red River suture (a major fault) and hosts several known areas
of gold-copper mineralisation in Vietnam and extends into southern China.
Outcropping gold mineralisation occurs within the Company's application areas as
well as substantial unsourced occurrences of alluvial gold.


The licence applications have been lodged in the name of Archipelago Resources
plc and the Vietnam National Minerals Corporation (VIMICO), an entity authorised
by the Vietnamese Government to assist with foreign investment within Vietnam.
In the event that exploration within the licence area leads to preliminary
feasibility work, a joint venture will be formed in which the Company will hold
the majority interest.


Meanwhile, the Company is continuing to focus on early development of its 1.75m
oz Toka Tindung Gold Project in North Sulawesi, Indonesia on which previous
owners have spent US$56M. Archipelago recently acquired the rights to second
hand processing plant for the project from Barrick Gold's former producing El
Tambo gold mine in Chile.


Further Information:


Colin Loosemore, Managing Director, Archipelago Resources Plc. Tel: [phone]

Ron Marshman/John Greenhalgh, City of London PR Limited.          Tel: [phone]


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