Ojolali Update

RNS Number:0401I
Finders Resources Limited
20 November 2007

For Release: 20 November 2007



FINDERS COMMENCES MAJOR REVERSE CIRCULATION DRILL PROGRAM TARGETING ADDITIONAL
OXIDE GOLD RESOURCES AT THE OJOLALI PROJECT IN SUMATRA



Finders Resources Ltd (ASX: FND - AIM: FND) is pleased to announce the
commencement of a major reverse circulation drilling program at its 72% owned
Ojolali gold-silver project in southern Sumatra, aimed at upgrading and
extending the known +100,000 oz Au Jambi resource and defining additional near
surface oxide gold resources.



The initial program is in three parts:



*       26 holes (2600m) targeting newly defined targets at the Kencur, Cugah,
Belida and Jambi south areas, and



*       56 holes (4600m) as definition drilling designed to give 25x25m coverage
over the Jambi oxide resource to bring the Jambi prospect up to at least JORC
Indicated Resource status



*       On-going systematic exploration of local mining areas and geophysical
anomalies  in a north easterly trending area measuring 7km by 4km using a
combination of soil geochemistry, detailed ground magnetics and 3D IP continues
to generate new drilling targets



Managing Director, Chris Farmer, said



"With the long awaited arrival of a multi-purpose drilling rig capable of
reverse circulation drilling our exploration at Ojolali will make a major step
forwards.



Our initial focus is to define sufficient reserves of oxide gold mineralization
from Jambi and other defined targets to justify establishing a 50,000 oz Au per
year mining operation.



In addition to the 4 new areas targeted in this initial drilling phase we have
an exciting pipeline of additional targets defined by our initial IP surveys and
local miner workings.



Our on going field work continues to define a pipeline of quality new targets
within the 28 square kilometer area containing known gold workings, and support
our view that the Ojolali field has potential for discovery of multi-million
ounce gold-silver resources"






The Kencur prospect comprises numerous clusters of local miner pits over an area
of approximately 700m x500m corresponding to the central portion of a complex NE
trending 2km x 500m  IP resistivity anomaly. The southern 600m of this IP
anomaly covers alluvial flats, where numerous pits to +10m deep occur, where
local miners report recovery of alluvial gold.



Finders initial drill test at Kencur will comprise 7 holes, testing 3 clusters
of local workings, where channel sampling by Finders has produced widespread
values >1g/t Au with isolated values up to 14 g/t Au.



The Belida prospect comprises several clusters of local pitting in an 400 x 500m
area of very poor outcrop which lie within a larger area of complex IP and
resistivity anomalies. Initially 4 holes will be drilled to test structures
indicated by local miner pitting.



The Cugah prospect occurs in a zone of no outcrop and deep weathering, with
abundant silicified float. Soil sampling by finders has so far defined a 600m
long gold-silver-arsenic anomaly, trending 0600  coincident with a strong IP
chargeability anomaly similar to that at Jambi. An initial 6 hole program is
planned to test this target over a 500m strike length. There are no local
workings at Cugah.



The Jambi South prospect comprises a 550 x 200m gold-arsenic-silver geochemical
anomaly which extends to the southwest from the current southern limit of the
Jambi prospect, in an area of largely transported soils and no outcrop. 9 holes
in two fences will be drilled to test this target





Background: Finders Resources Ltd, (Finders) first listed on AIM in March 2006,
and on the ASX, raising AUD 6 million on June 8 2007. Current market
capitalization is AUD$50 million. Finders is the operator of the Wetar Copper
(73% and earning) and Ojolali Gold-Silver Projects (72% with option), both in
Indonesia and holds an investment in Geopacific Resources NL, an ASX-listed
company.



At the Ojolali Project, Finders has previously announced Inferred Resources at
the Jambi Oxide gold deposit (3.2 Mt @ 1.0 g/t Au, 6.9 g/t Ag at a 0.5 g/t Au
cut-off, and including mining dilution) and Inferred Resources at the Tambang
Prospect (7.9 Mt @ 167g/t Ag and 0.7 g/t Au at a 1 g/t Au equivalent cut-off
using drilling data from a previous explorer).



Finders' believes that the Ojolali project has strong potential to generate
short-term cash flow through open pit CIL/CIP development of the gold resource
at the Jambi Oxide gold deposit. Other prospects have outstanding potential for
the discovery of additional resources using modern geophysical techniques to
optimize drill targeting. For further information on results previously reported
and a full resource statement please visit our website www.findersresources.com






For further information please contact:



Finders Resources Ltd:

Russell Fountain, Executive Chairman, [phone]

Chris Farmer, Managing Director, [e-mail]



Financial PR:

Doug Macdonald, [phone], Capital Group (in Australia)

Paddy Blewer or Nick Elwes, 020 7457 2020, College Hill (in the UK)



RFC Corporate Finance Ltd - Nomad and Corporate Adviser:

Rob Adamson, [phone] or Stuart Laing, + 61 (0) 8 9480 2500













Statements by Finders Resources Ltd

Geological information in this announcement is based on information compiled by
Dr R Fountain who is a Fellow of the Australasian Institute of Geoscientists and
a Director of Finders. Dr Fountain has sufficient experience that is relevant to
the styles of mineralization and types of deposits under consideration and to
the activity that he is undertaking to qualify as Competent Person as defined in
the JORC Code. He consents to the inclusion in this announcement of the matters
based on his information in the form and context in which they appear.



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.


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