Quarterly Activities Report For The Period Ended 31 March 2008

    Quarterly Activities Report For The Period Ended 31 March 2008
             



HIGHLIGHTS
                                   
Wetar Copper Project

  * Demonstration Plant on track for commissioning in July 2008,
    nameplate capacity will be 5 tonne per day copper cathode

     * SX plant, leach pad materials and contract power equipment on
       site
     * Supporting infrastructure in place
     * Remaining plant fabrication on schedule

  * Feasibility Study 

  * Scheduled for completion by end 2008
  * Results from laboratory studies confirm high copper recoveries
    from BioheapTM  test work.

Ojolali Gold-Silver Project

  * A 96 hole, 8300m program of reverse circulation drilling has been
    completed on the Jambi oxide gold resource.
  * This drilling has confirmed the internal continuity of the gold
    mineralization, and the resource remains open to the north,
    north-east, west and south, and also higher grades of silver
    mineralization than anticipated, particularly in the southern
    part of the prospect.
  * This work will form the basis for a revised resource estimate for
    Jambi, scheduled for completion during May.
  * Results are awaited for a major on-going program of soil
    geochemical sampling, designed both to define extensions to the
    Jambi zone and also to help rank numerous other geophysical
    anomalies within the overall project area.

Corporate

  * Financing of A$15.8m completed on 11th January 2008.
  * 52,000 options were exercised at a price of 50c during the
    period.
  * At the end of the period 74,911,425 fully paid shares were on
    issue and a total of 4,923,648 options (with various exercise
    prices and expiry dates). 
  * Cash held at 31 March 2008 totalled A$6.9 million.

1.     Wetar Copper Project, Indonesia
Finders Resources Limited ~72% and earning through expenditure
 
Background Information
 
At the Wetar  Copper Project,  Finders has  previously announced  the
following  resource  estimates  for  the  Kali  Kuning  and   Lerokis
deposits:

                                                 Attributable (72.4%)
             Category  Tonnes (M) Cu%  Cont. Cu  Tonnes (M) Cont. Cu
                                         (KT)                 (KT)
Kali Kuning  Measured     3.3     2.7     89        2.4       64.6
0.5% Cu      Indicated    2.6     2.4     63        1.9       45.3
Cut-off      Inferred     0.6     1.8     11        0.4        7.7
grade
             Total        6.6     2.5    165        4.8       119.1
Lerokis      Indicated    2.9     2.5     71        2.1       51.6
0.5% Cu      Inferred     0.4     1.7     7         0.3        4.9
Cut-off      Total        3.2     2.4     76        2.3       55.1
grade

 
As part  of a  definitive feasibility  study, a  demonstration  SX-EW
plant with 5t per day copper cathode capacity is being installed with
planned cathode production from mid-2008. 
 
The Company is  targeting commercial production  of 20-25,000  tonnes
per year  cathode by  the end  of 2009.  For further  information  on
results   previously    reported    please    visit    our    website
www.findersresources.com.
 
Demonstration Plant
 
A key component of  the Wetar Feasibility  Study is the  construction
and operation of  a 5tpd  copper cathode  Demonstration Plant.   This
plant will replicate all aspects of the planned full scale  20-25,000
tpa cathode operation.  Calder Projects  have been  awarded the  EPCM
contract for the project. 
 
Finders' have previously  indicated a US$6.25M  capital cost for  the
demonstration plant and the project is currently within budget.   The
majority of equipment used for  the plant is fabricated off-site  and
then shipped to Wetar for installation. 
 
Progress this period includes the following:
 
Mobilisation of major equipment items
 
Following delivery  of  heavy  equipment  and  fuel  tanks  in  early
January, a second shipment was completed in mid-April.  Equipment  on
the second shipment included:

  * Mixing and reagent tanks for the SX plant,
  * A three-stage crushing plant and wheel loader,
  * HDPE lining and poly-pipes for the leach pad,
  * Three 500kva diesel generators for power generation,
  * Steelwork for the plant buildings.

Infrastructure
 
During  the  quarter,  on-site  camp  and  office  renovations   were
completed including  the  establishment  of  workshop  and  warehouse
facilities and  a medical  clinic.   The existing  road to  the  Kali
Kuning pit was upgraded and land cleared at the leach pad and process
plant site.
 
Fabrication and Design
 
All outstanding items  requiring fabrication are  well underway  with
completion of the crushing &  stacking conveyors expected by end  May
and the electrowinning (EW) cells and cathodes expected by  mid-May. 
The longest lead-time item is  the rectifier, which is scheduled  for
June delivery.
 
Design  work  is  complete,  bar  detailed  electrical  design  which
suffered a 4-6  week delay  during the  period due  to problems  with
contractor availability.
 
Project Timing
 
The balance of equipment required for the demonstration plant will be
mobilised  by  two  further   shipments  and  commissioning  of   the
demonstration plant is scheduled for July 2008; in-line with Finders'
target for cathode production by mid-2008.
 
Feasibility Study
 
The feasibility  study  for  the  full  scale  20-25000  tpa  cathode
operation is  running  in  parallel  with  the  construction  of  the
demonstration plant.  Finders estimate that approximately 3-4  months
of operating results from the demo plant will be required to finalise
the feasibility study. 
 
Finders continues to work with several consulting groups with a  view
to completing  studies  on geotechnical  and  leach pad  design  (SRK
Consulting), environmental management (HLA-ENSR), iterative mine  and
waste dump scheduling (AMDAD) and an assessment of power options  for
the commercial scale project (Calder Projects).
 
Two drill rigs have been mobilised to the project area to complete an
upgrade of  the  Kali  Kuning  and  Lerokis  resource  estimates,  an
evaluation of copper sulphides contained  within the waste dump  area
of  the  former  gold  mine,  final  pit  wall  and  leach  pad  area
geotechnical studies, sterilization drilling and wells for monitoring
ground water.
 
Metallurgical test work
 
During the  period, the  Company continued  to receive  results  from
ongoing laboratory scale leach test  work being undertaken at HRL  in
Brisbane and  Ammtec Ltd  in Perth.  It should  be noted  that  these
progress results are based on extrapolation from solution assays, and
that definitive recovery  figures will require  completion of  solids
assays and mass balances on completion of the tests.
 
At HRL, four new  2m column tests  using non-proprietary bacteria  at
elevated (45°C) temperatures have commenced to further assess effects
of crush-size on recovery rates.  Results to date (below) show little
difference in leach rates between the different crush sizes.
 

+-------------------------------------------------------------------+
| Column Height / Crush Size | Ore Body    | Days | Cu (%) | Zn (%) |
|----------------------------+-------------+------+--------+--------|
| 2m  / 6.5mm                | Lerokis     |  37  |  28.9  |   27   |
|----------------------------+-------------+------+--------+--------|
| 2m  / 12.5mm               | Lerokis     |  37  |  26.2  |   18   |
|----------------------------+-------------+------+--------+--------|
| 2m  / 6.5mm                | Kali Kuning |  40  |  24.1  |   57   |
|----------------------------+-------------+------+--------+--------|
| 2m  / 12.5mm               | Kali Kuning |  40  |  29.9  |   45   |
+-------------------------------------------------------------------+

                 Ongoing HRL Test results (18/4/08)
     Metals Reporting to Solution (% total pending mass balance
                            calculations)
 
Six column  tests  using  BioheapTM  technology  at  the  Ammtec  Ltd
laboratory have now been ongoing for 8 months out of a planned  leach
time of 10 months.  Oxidation continues on all columns.
 
The Kali Kuning columns continue to display copper release at  steady
rates, with over 82% Cu leached thus far in the 1m tall columns. Iron
oxidation remains  low,  indicating preferential  oxidation  of  zinc
and/or copper minerals over pyrite.
 
The Lerokis columns, as anticipated, have begun to show rapid  copper
release to over  60% recovery and  the observed increase  in rate  of
iron release  is interpreted  to indicate  a change  from  sphalerite
leaching to  chalcopyrite/pyrite  leaching,  as  anticipated  in  the
December 31st quarterly report.
 

+-------------------------------------------------------------------+
| Column Height / Crush    | Ore Body    | Fe (%) | Cu (%) | Zn (%) |
| Size                     |             |        |        |        |
|--------------------------+-------------+--------+--------+--------|
| 1m  / 6.3mm              | Lerokis     |  10.5  |  61.3  |  76.6  |
|--------------------------+-------------+--------+--------+--------|
| 1m  / 19mm               | Lerokis     |  5.7   |  16.4  |  75.9  |
|--------------------------+-------------+--------+--------+--------|
| 3m  / 19mm               | Lerokis     |  9.1   |  46.1  |  85.9  |
|--------------------------+-------------+--------+--------+--------|
| 1m  / 6.3mm              | Kali Kuning |  7.8   |  82.1  |  87.5  |
|--------------------------+-------------+--------+--------+--------|
| 1m  / 19mm               | Kali Kuning |  5.7   |  84.0  | 106.0  |
|--------------------------+-------------+--------+--------+--------|
| 3m  / 19mm               | Kali Kuning |  3.7   |  44.5  |  46.1  |
+-------------------------------------------------------------------+

              Ongoing BioHeapTM Test results (26/3/08)
     Metals Reporting to Solution (% total pending mass balance
                            calculations)
                                   
Permitting and Tenements
 
The Company  hosted  visitors  from the  Environment  Impact  Control
Committee (BAPEDALDA) of the Maluku provincial government as part  of
the permitting process for the planned full scale operation.   During
the visit, the  Company completed socialisation  of the project  with
our  host  communities  and  presented  material  on  the   Company's
community empowerment program.
 
Final approvals were received for  the new exploration permits  which
cover prospective  areas  defined  by the  2007  geochemical  program
within  the   South  Coast   general  survey   permit  area.    These
transactions are  described in  Appendix 5b  and a  revised  tenement
schedule is provided in Appendix 1 of this Report.
 
Exploration
 
No exploration activities were undertaken  during the Quarter due  to
the wet season.  This program will  recommence during June/July  with
initial geophysical surveys planned for the Pantai Merah prospect.
 
2.     Ojolali Project, Indonesia
Finders Resources Limited ~72% with option
 
Background Information
 
At the Ojolali epithermal gold-silver 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 believe  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
 
Jambi Resource Drilling
 
The initial phase of resource drilling at the Jambi oxide gold-silver
project  has  been  completed.  Ninety   six  (96)  RC  drill   holes
(BKJR35-130) have been  completed at Jambi  for a total  of 8297m  of
drilling; these  complement 34  diamond  holes completed  by  Finders
during 2006.
 
On completion of this phase of  drilling, the RC rig was  transferred
to the Finders Wetar  copper project for  a 2 to  3 month program  of
infill and sterilization  drilling, after  which it  is scheduled  to
return to Ojolali  to carry out  additional drilling on  to test  the
currently indicated extensions to  the Jambi system,  as well as  new
targets defined by on-going exploration.
 
Results from detailed  mapping, geochemical  and geophysical  surveys
and drilling,  indicate  that  the  Jambi  system  is  controlled  by
intersecting northerly and north-easterly trending quartz and  pyrite
veinlet swarms, and the system  remains open to the west,  southwest,
north and north-east.
 
Host rocks for the Jambi  mineralization are a sequence of  intensely
altered andesitic  tuffs  and  agglomerates, with  an  earlier  green
chlorite alteration overprinted by  structurally controlled zones  of
clay-pyrite silica alteration, brecciation and quartz veinlet swarms.
 
Northerly trending structures  dominate the north  and western  zone,
while north-easterly structures appear more important in the southern
part of the system.
 
Final assays have now been received for all holes from this  program.
Results from holes BKJR35-115 have been reported previously, and  are
included in Appendix 2 of this report.
 
Significant intercepts from holes BKJR115-130,  using a 0.5 g/t  gold
equivalent cut-off, and a  minimum intercept of  10 gram metres  gold
equivalent,  are  tabulated  below.  Of  interest  are  a  number  of
intercepts with low gold, but high silver values, including 10m  @0.3
g/t Au, 60 g/t Ag from 60m in BKJR 121, and 5m @ 0.17 g/t Au and  247
g/t Ag from 56m in BKJR 130.
 

+-------------------------------------------------------------------+
| Hole Number |    From | Interval (m) | Au g/t | Ag g/t |     AuEq |
|             |     (m) |              |        |        |     g/t+ |
|-------------+---------+--------------+--------+--------+----------|
| BKJR115     |      25 |           11 |    1.4 |      4 |     1.48 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR115     |      39 |           17 |   0.67 |      9 |     0.85 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR117     |      19 |            7 |   3.35 |    0.3 |     3.36 |
|-------------+---------+--------------+--------+--------+----------|
| Including   |      23 |            2 |  10.32 |    0.5 |    10.33 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR117     |      52 |           22 |    1.2 |      5 |     1.30 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR120     |      70 |           11 |   1.03 |     15 |     1.33 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR121     |      64 |           10 |    0.3 |     60 |     1.50 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR123     |      10 |           12 |   1.61 |      2 |     1.65 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR124     |      27 |           12 |   1.56 |      3 |     1.62 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR124     |      46 |            5 |   2.58 |      3 |     2.64 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR125     |       4 |           18 |   1.62 |      3 |     1.68 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR125     |      26 |           25 |   2.04 |      3 |     2.10 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR125     |      99 |           19 |   2.42 |     28 |     2.98 |
|-------------+---------+--------------+--------+--------+----------|
| Including   |     100 |            4 |   8.81 |      7 |     8.95 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR126     |       0 |           27 |   2.03 |      8 |     2.19 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR130     |      14 |           31 |   1.31 |      8 |     1.47 |
|-------------+---------+--------------+--------+--------+----------|
| BKJR130     |      56 |            5 |   0.17 |    246 |     5.09 |
+-------------------------------------------------------------------+

         + Au equivalents are calculated  using Ag g/t divided by  50
plus Au g/t.
           Intercepts quoted are down-hole widths and will  generally
exceed the true widths of mineralized zones.
 
 
                                   
Maps
 
 
A full list of drill collars can be found in Appendix 3.
 
Jambi Resource Update
 
Hellman and  Schofield  Pty Ltd  have  been retained  to  develop  an
updated resource estimate  for the  detailed drilled  portion of  the
Jambi prospect.
 
Results of this work are expected in  mid May, and will be used as  a
basis for additional metallurgical test-work to determine the optimum
development strategy for the project.
 
Geochemical Soil Sampling
 
During the quarter a major  program of geochemical soil sampling  was
carried out,  with  a  total  of 664  samples  taken  from  gridlines
totalling over 16.6 line km. The  main focus of the current  sampling
were potential extensions to mineralisation immediately east and west
of the Jambi drilling area and the Belida prospect area.
 
At surface,  Belida has  similar  geological characteristics  to  the
Jambi prospect and is located approximately 1km west of Jambi.
Assays for this work were initially deferred to give priority to  the
Jambi drill samples. These samples are currently being processed  and
should progressively become available through the second quarter.
 
3.     Corporate
 
On 3rd  January  2008, the  Company  raised A$4.4  million  with  the
placement of 4 million shares at  A$1.10 per share by Southern  Cross
Equities.
On 11th  January  2008,  the  A$15.8  million  financing  arrangement
announced on 12th December 2007 was completed by:

  * the issue of a total of 5,165,289 shares at A$1.10 per share
    (raising A$5.68 million) to Tennant Metals Pty Ltd and its
    associated shareholder, Meridian International Capital Limited,
    and
  * the provision of a secured loan facility for US$5.0 million.

On 14th February 2008 a total  of 52,000 options were exercised at  a
price of 50c
 
The above transactions result in  the following capital structure  of
the Company:
 

+-------------------------------------------------------------------+
| Type of Security | Exercise Price | Expiry Date | Number in Issue |
|                  |                |             |                 |
|------------------+----------------+-------------+-----------------|
| Fully Paid       |                |             |      74,911,425 |
| Ordinary Shares  |                |             |                 |
|------------------+----------------+-------------+-----------------|
|                  |     A$0.50     |  20 March   |       3,100,767 |
|                  |                |    2009     |                 |
|                  |----------------+-------------+-----------------|
| Options          |      24p       |  22 March   |       1,322,881 |
|                  |                |    2009     |                 |
|                  |----------------+-------------+-----------------|
|                  |    A$0.6875    |   13 June   |         500,000 |
|                  |                |    2010     |                 |
|                  |------------------------------+-----------------|
|                  |                              |       4,923,648 |
+-------------------------------------------------------------------+

                       Current Share Structure
 
On 11th March, the  Company lodged the  Interim Financial report  for
the six months to December 31st 2007.
 
Headline numbers  are  in the  following  table, full  disclosure  is
available in the published report.
 

+-------------------------------------------------------------------+
|                        |       Half-year ended 31 December        |
|------------------------+------------------------------------------|
|                        |  2007         |  2006         | Movement |
|------------------------+---------------+---------------+----------|
|                        | A$ '000       |  A$ '000      | %        |
|------------------------+---------------+---------------+----------|
|  Revenues from         |  122          |  156          | (21.8%)  |
| ordinary activities    |               |               |          |
|------------------------+---------------+---------------+----------|
|  Loss from ordinary    |               |               |          |
| activities after tax   |  (1,739)      |  (2,639)      | (34.1%)  |
| attributable to        |               |               |          |
| members                |               |               |          |
|------------------------+---------------+---------------+----------|
|  Net loss for the      |               |               |          |
| period attributable to |  (1,739)      |  (2,639)      | (34.1%)  |
| members                |               |               |          |
|------------------------+---------------+---------------+----------|
|  Loss per share -      |  (3.40)       |  (4.99)       | (31.9%)  |
| basic (cents)          |               |               |          |
|------------------------+---------------+---------------+----------|
|  Loss per share -      |  (3.16)       |  (4.59)       | (31.2%)  |
| diluted (cents)        |               |               |          |
|------------------------+---------------+---------------+----------|
|                        |               |               |          |
|------------------------+---------------+---------------+----------|
|                        |  31.12.2007   |  30.06.2007   | Movement |
|------------------------+---------------+---------------+----------|
|  Net tangible assets   |  5.95         |  11.42        | (46.6%)  |
| per share (cents)      |               |               |          |
+-------------------------------------------------------------------+

 
The Company's cash held at 31 March 2008 totalled A$6.9  million. 
 
The mining exploration entity quarterly report (Appendix 5b) is
appended.
 
Chris Farmer
 
Managing Director
 
Further details for  all projects including  location maps,  tenement
schedules and  technical descriptions  may be  found on  the  Finders
website at www.findersresources.com
Statements from Finders
 
The Australasian Code for  Reporting of Exploration Results,  Mineral
Resources and  Ore  Reserves  (the  'JORC  Code')  sets  out  minimum
standards, recommendations  and guidelines  for Public  Reporting  in
Australasia  of  Exploration  Results,  Mineral  Resources  and   Ore
Reserves. The  information contained  in this  announcement has  been
presented  in  accordance  with  the  JORC  Code  and  references  to
"Indicated" and "Inferred Resources" are to those terms as defined in
the JORC Code.
 
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
mineralisation 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.
 
All assaying of Ojolali 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. 
 
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.
 
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, +61 (0)  2 9250 0000  or Stuart Laing, +  61 (0) 8  9480
2500
 
Appendix 1
Revised Status of Tenements
 

+-----------------------------------------------------------------------+
|Tenement      |             |Date    |                 |Area   |       |
|KP decision   |Tenement Type|Issued  |Validity/Status  |(ha)   |Owner  |
|No.           |             |        |                 |       |       |
|--------------+-------------+--------+-----------------+-------+-------|
|660/36 of 2008|             |Jan 14, |     1 year      | 1,372 |BKP    |
|              |Exploration  |2007    |                 |       |       |
|--------------|First        |--------+-----------------+-------+-------|
|660/37 of 2008|Extension    |Jan 14, |     1 year      | 1,361 |BKP    |
|              |             |2007    |                 |       |       |
|--------------+-------------+--------+-----------------+-------+-------|
|543/955 of    |Exploration  |Oct 16, |     3 years     | 2,636 |BKP    |
|2006          |             |2006    |                 |       |       |
|--------------+-------------+--------+-----------------+-------+-------|
|660/38 of 2008|Exploration  |Jan 14, |     1 year      | 1,021 |BBW    |
|              |             |2007    |                 |       |       |
|--------------+-------------+--------+-----------------+-------+-------|
|660/39 of 2008|Exploration  |Jan 14, |     1 year      | 1,106 |BBW    |
|              |             |2007    |                 |       |       |
|--------------+-------------+--------+-----------------+-------+-------|
|540/130 of    |Exploration  |Jan 14, |     1 year      | 1,148 |BBW    |
|2008          |             |2007    |                 |       |       |
|--------------+-------------+--------+-----------------+-------+-------|
|543/186 of    |Exploration  |Mar 18, |     1 year      | 1,418 |BKP    |
|2008          |             |2007    |                 |       |       |
|--------------+-------------+--------+-----------------+-------+-------|
|Relinquished  |             |        |                 |       |       |
|--------------+-------------+--------+-----------------+-------+-------|
|543/956 of    |General      |Oct 16, |    Completed    |9,441  |BKP    |
|2006          |Survey       |2006    |                 |       |       |
|--------------+-------------+--------+-----------------+-------+-------|
|543/954 of    |General      |Oct 16, |    Completed    |9,358  |BKP    |
|2006          |Survey       |2006    |                 |       |       |
+-----------------------------------------------------------------------+

 
BKP : PT Batutua Kharisma Permai
BBW : PT Batutua Barit Wetar
Both parties  are  subject  to Cooperation  agreements  with  Finders
Resources. 
Finders interest is 72.385% (post  2006 audit) and Finders earn  with
expenditure.
 
 
Appendix 2: Summary of significant intercepts from drilling during
the quarter
 
Using a cut off grade of 0.5 g/t gold equivalent (Au plus Ag/50)  and
a minimum intercept of 10 gram metres gold equivalent.
 

Hole      From Width Au   Ag   AuEq    Hole      From Width Au    Ag  AuEq
                     g/t  g/t  g/t                          g/t   g/t g/t
BKJR44      36    14 2.71   35  3.41   BKJR88      59    10  0.34  43   1.2
BKJR45       3    17 0.85    0  0.85   BKJR89      49     3  6.43   1  6.45
BKJR46      16    23  1.8    3  1.86   BKJR89     114    19   1.6  94  3.48
BKJR56      21     5 2.11    2  2.15   BKJR90       0    13  1.95   3  2.01
BKJR57      31     5 2.38   11   2.6   BKJR91      32    16  1.19   2  1.23
BJKR59      30     6  2.7    8  2.87   BKJR92      57    15  0.37  24  0.85
BKJR60      29     2 6.23    7  6.38   BKJR93       6    14  1.11   1  1.13
BKJR61      73     8 1.48    9  1.65   BKJR93      70     8   0.7  54  1.78
BKJR62      15    11    1    3  1.07   BKJR94      62     4  3.96   3  4.02
BKJR63       8    12 2.58    7  2.72   BKJR95      16     6  1.65   1  1.67
BKJR64      98     9 2.07   12  2.31   BKJR97      11    22  2.07   3  2.13
BKJR65       3     6    2    7  2.13   BKJR98       4     8   5.5   4  5.58
BKJR65      77    10 1.29   25  1.78   Including    8     2  17.2   9 17.38
BKJR68       0    12 2.44    5  2.54   BKJR104     13    14  1.63   3  1.69
BKJR69       0    18 0.96    2  1.01   BKJR109      0     8  2.21   2  2.25
BKJR71      58    17 1.29  361   8.5   Including    3     2 12.57   2 12.61
Including   67     2 2.15 2185 45.85   BJKR110     45     4  1.49  54  2.57
BKJR72       0    27  1.7    4  1.78   BKJR111      0    19  2.42   1  2.44
BKJR72      87     4 8.94   12  9.18   BKJR111     60     8  1.17   5  1.27
Including   89     1 32.3   31 32.93   BKJR111     54    26  1.31  38  2.07
BJKR73      13    10 1.07   55  2.18   Including   73     6  2.15 132  4.79
BJKR73      54    15 3.65    3   3.7   BKJR111     80     6  0.69  73  2.15
Including   54     6 6.91    4  6.99   BKJR111    100    12  0.42 180  4.02
BKJR74       0    31 5.72    2  5.77   BKJR115     25    11   1.4   4  1.48
BKJR76      59    11 1.05   24  1.53   BKJR115     39    17  0.67   9  0.85
BKJR76      72    18 2.43   44  3.31   BKJR117     19     7  3.35 0.3  3.36
BKJR77      40     7 1.61   37  2.34   Including   23     2 10.32 0.5 10.33
BKJR77      65     6 2.59   13  2.85   BKJR117     52    22   1.2   5   1.3
BKJR77      99     6 0.75   65  2.04   BKJR120     70    11  1.03  15  1.33
BKJR79      60     9 0.94   30  1.53   BKJR121     64    10   0.3  60   1.5
BKJR82      42    14 0.37   28  0.92   BKJR123     10    12  1.61   2  1.65
BKJR82      64     9 0.44   58  1.59   BKJR124     27    12  1.56   3  1.62
BKJR82      77    11 0.14  105  2.25   BKJR124     46     5  2.58   3  2.64
BJKR83       0    73 1.67   10  1.88   BKJR125      4    18  1.62   3  1.68
Including   67     6 7.94   23   8.4   BKJR125     26    25  2.04   3   2.1
BKJR84      14     9 1.12    5  1.21   BKJR125     99    19  2.42  28  2.98
BKJR84      26     6 8.99    3  9.06   Including  100     4  8.81   7  8.95
BKJR87       0     8 1.98    2  2.02   BKJR126      0    27  2.03   8  2.19
BKJR87     104     6 5.11    9  5.29   BKJR130     14    31  1.31   8  1.47
                                       BKJR130     56     5  0.17 246  5.09

 
Appendix  3:   Survey  coordinates  for  Jambi  Reverse   Circulation
Drilling
 

                     Au g Ag g AuEq                         Au g  Ag  AuEq
Hole      From Width /t   /t   g       Hole      From Width /t    g   g
                               /t                                 /t  /t
BKJR44      36    14 2.71   35  3.41   BKJR88      59    10  0.34  43   1.2
BKJR45       3    17 0.85    0  0.85   BKJR89      49     3  6.43   1  6.45
BKJR46      16    23  1.8    3  1.86   BKJR89     114    19   1.6  94  3.48
BKJR56      21     5 2.11    2  2.15   BKJR90       0    13  1.95   3  2.01
BKJR57      31     5 2.38   11   2.6   BKJR91      32    16  1.19   2  1.23
BJKR59      30     6  2.7    8  2.87   BKJR92      57    15  0.37  24  0.85
BKJR60      29     2 6.23    7  6.38   BKJR93       6    14  1.11   1  1.13
BKJR61      73     8 1.48    9  1.65   BKJR93      70     8   0.7  54  1.78
BKJR62      15    11    1    3  1.07   BKJR94      62     4  3.96   3  4.02
BKJR63       8    12 2.58    7  2.72   BKJR95      16     6  1.65   1  1.67
BKJR64      98     9 2.07   12  2.31   BKJR97      11    22  2.07   3  2.13
BKJR65       3     6    2    7  2.13   BKJR98       4     8   5.5   4  5.58
BKJR65      77    10 1.29   25  1.78   Including    8     2  17.2   9 17.38
BKJR68       0    12 2.44    5  2.54   BKJR104     13    14  1.63   3  1.69
BKJR69       0    18 0.96    2  1.01   BKJR109      0     8  2.21   2  2.25
BKJR71      58    17 1.29  361   8.5   Including    3     2 12.57   2 12.61
Including   67     2 2.15 2185 45.85   BJKR110     45     4  1.49  54  2.57
BKJR72       0    27  1.7    4  1.78   BKJR111      0    19  2.42   1  2.44
BKJR72      87     4 8.94   12  9.18   BKJR111     60     8  1.17   5  1.27
Including   89     1 32.3   31 32.93   BKJR111     54    26  1.31  38  2.07
BJKR73      13    10 1.07   55  2.18   Including   73     6  2.15 132  4.79
BJKR73      54    15 3.65    3   3.7   BKJR111     80     6  0.69  73  2.15
Including   54     6 6.91    4  6.99   BKJR111    100    12  0.42 180  4.02
BKJR74       0    31 5.72    2  5.77   BKJR115     25    11   1.4   4  1.48
BKJR76      59    11 1.05   24  1.53   BKJR115     39    17  0.67   9  0.85
BKJR76      72    18 2.43   44  3.31   BKJR117     19     7  3.35 0.3  3.36
BKJR77      40     7 1.61   37  2.34   Including   23     2 10.32 0.5 10.33
BKJR77      65     6 2.59   13  2.85   BKJR117     52    22   1.2   5   1.3
BKJR77      99     6 0.75   65  2.04   BKJR120     70    11  1.03  15  1.33
BKJR79      60     9 0.94   30  1.53   BKJR121     64    10   0.3  60   1.5
BKJR82      42    14 0.37   28  0.92   BKJR123     10    12  1.61   2  1.65
BKJR82      64     9 0.44   58  1.59   BKJR124     27    12  1.56   3  1.62
BKJR82      77    11 0.14  105  2.25   BKJR124     46     5  2.58   3  2.64
BJKR83       0    73 1.67   10  1.88   BKJR125      4    18  1.62   3  1.68
Including   67     6 7.94   23   8.4   BKJR125     26    25  2.04   3   2.1
BKJR84      14     9 1.12    5  1.21   BKJR125     99    19  2.42  28  2.98
BKJR84      26     6 8.99    3  9.06   Including  100     4  8.81   7  8.95
BKJR87       0     8 1.98    2  2.02   BKJR126      0    27  2.03   8  2.19
BKJR87     104     6 5.11    9  5.29   BKJR130     14    31  1.31   8  1.47
                                       BKJR130     56     5  0.17 246  5.09

                                   
Appendix 5B
             Mining exploration entity quarterly report
 

Name of entity
 FINDERS RESOURCES LIMITED

 

ABN               Quarter ended ("current quarter")
 82 108 547 413    31 MARCH 2008

 
Consolidated statement of cash flows

                                                 Current Year to date
Cash flows related to operating activities       quarter (.9.months)
                                                 $A'000     $A'000
1.1  Receipts from product sales and related                   
     debtors
      
1.2  Payments for (a) exploration and evaluation  (841)    (2,722)
                             (b)  development    (2,887)   (3,404)
                             (c)  production        -         -
                             (d)  administration  (644)    (1,736)
1.3  Dividends received                                        
1.4  Interest and other items of a similar         159       281
     nature received
1.5  Interest and other costs of finance paid                  
1.6  Income taxes paid                                         
1.7  Other (provide details if material)                       
                                                 (4,213)   (7,581)
     Net Operating Cash Flows
                                                               
     Cash flows related to investing activities
1.8  Payment for purchases of:                                 
     (a)prospects                                              
     (b)equity investments                                     
     (c) other fixed assets                       (79)      (275)
1.9  Proceeds from sale of:                                    
     (a)prospects
     (b)equity investments
     (c)other fixed assets
1.10 Loans to other entities                                   
1.11 Loans repaid by other entities                            
1.12 Other (provide details if material)                       
                                                  (79)      (275)
     Net investing cash flows
1.13 Total operating and investing cash flows    (4,292)   (7,856)
     (carried forward)

 

1.13 Total operating and investing cash flows         (4,292) (7,856)
     (brought  forward)
                                                                  
     Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc.     9,866   9,890
1.15 Proceeds from sale of forfeited shares                       
1.16 Proceeds from borrowings                                     
1.17 Repayment of borrowings                                      
1.18 Dividends paid                                               
1.19 Other (provide details if material)                          
     Share application monies received transferred to             
     proceeds from issue of shares                    (4,158)    -
     Net financing cash flows                          5,708   9,890
      
     Net increase (decrease) in cash held              1,416   2,034
      
1.20 Cash at beginning of quarter/year to date         5,670   5,157
1.21 Exchange rate adjustments to item 1.20            (192)   (297)
1.22 Cash at end of quarter                            6,894   6,894

Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the
related entities

                                                      Current quarter
                                                          $A'000
                                                              
1.23 Aggregate amount of payments to the parties            270
     included in item 1.2
                                                            NIL
1.24 Aggregate amount of loans to the parties
     included in item 1.10
      
1.25 Explanation necessary for an understanding of the transactions
      
     NONE
      
      

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a
    material effect on consolidated assets and liabilities but did
    not involve cash flows
     
    NONE
     
     
     

 

2.2 Details of outlays made by other entities to establish or
    increase their share in projects in which the reporting entity
    has an interest
     
    NONE
     
     

 
 
Financing facilities available
Add notes as necessary for an understanding of the position.
 

                                         Amount available Amount used
                                         $A'000           $A'000
3.1 Loan facilities (AUD equiv of USD         5,448           NIL
    5,000,000)
3.2 Credit standby arrangements                NIL            NIL

 
Estimated cash outflows for next quarter

                               $A'000
                               1,358
4.1 Exploration and evaluation
                               4,417
4.2 Development
                               5,775
    Total

 
Reconciliation of cash

Reconciliation of cash at the end of the quarter (as Current Previous
shown in the consolidated statement of cash flows)   quarter quarter
to the related items in the accounts is as follows.  $A'000  $A'000
5.1       Cash on hand and at bank                    6,894   5,670
5.2       Deposits at call                                       
5.3       Bank overdraft                                         
5.4       Other (provide details)                                
          Total: cash at end of quarter (item 1.22)   6,894   5,670

 
Changes in interests in mining tenements
 

                         Tenement     Nature of Interest at Interest
                         reference    interest  beginning   at end of
                                      (note     of quarter  quarter
                                      (2))
6.1 Interests in mining                                      
    tenements
    relinquished,
    reduced or lapsed
6.2 Interests in mining  543/186/2008               NIL      72.385%
    tenements acquired   540/130/2008               NIL      72.385%
    or increased         660/36/2008                NIL      72.385%
                         660/37/2008                NIL      72.385%
                         660/38/2008                NIL      72.385%
                         666/39/2008                NIL      72.385%

* Narrative: During the quarter to December 2007, the general  survey
period for  the  South  Coast  tenements  expired.  Applications  for
successor tenements were  made during that  period, however  official
notification of the tenements listed  above was received during  this
period. Please see the Quarterly Report for more detail.
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or
conversion rights together with prices and dates.
 

                       Total number Number     Issue     Amount paid
                                    quoted     price per up per
                                               security  security
                                               (see note (see note 3)
                                               3)        (cents)
                                               (cents)
7.1  Preference            N/A                                 
     +securities 
     (description)
7.2  Changes during        N/A                                 
     quarter
     (a)  Increases
     through issues
     (b)  Decreases
     through returns
     of capital,
     buy-backs,
     redemptions
7.3  +Ordinary                                                 
     securities         74,911,425  74,729,607
7.4  Changes during                                            
     quarter                                                   
     (a)  Increases     9,287,289   9,287,289                  
     through issues                                 
     (b)  Decreases        NIL         NIL
     through returns
     of capital,
     buy-backs
7.5  +Convertible debt     N/A                                 
     securities
     (description)
7.6  Changes during        N/A                                 
     quarter
     (a)  Increases
     through issues
     (b)  Decreases
     through
     securities
     matured,
     converted
7.7  Options                                   Exercise  Expiry date
     (description and   3,100,767      NIL       price    20.03.2009
     conversion         1,322,881      NIL        50¢     22.03.2009
     factor)             500,000       NIL        24p     13.06.2010
                                                68.75¢
7.8  Issued during         NIL         NIL                     
     quarter
7.9  Exercised during     52,000       NIL        50¢     20.03.2009
     quarter                                                   
7.10 Expired during        NIL         NIL                     
     quarter
7.11 Debentures                                                
     (totals only)
7.12 Unsecured notes                                      
     (totals only)
      

 
 
Compliance statement
 
1 This statement has  been prepared under  accounting policies  which
comply           with   accounting  standards  as   defined  in   the
Corporations Act or other            standards acceptable to ASX (see
note 4).
 
2 This statement does  /does not* (delete one)  give a true and  fair
view of the       matters disclosed.
 
Sign here:        
............................................................           
Date: 29 April 2008
                        (Director/Company secretary)
 
 
 
Print name:       ....Christopher Ben
Farmer...........................
 
Notes
 
1 The quarterly report provides a basis for informing the market  how
the entity's   activities have been financed for the past quarter and
the effect on its  cash    position.  An  entity wanting to  disclose
additional information is  encouraged to do  so, in a  note or  notes
attached to this report.
 
2 The "Nature of interest"  (items 6.1 and  6.2) includes options  in
respect of  interests  in  mining tenements  acquired,  exercised  or
lapsed during the  reporting period.  If the entity is involved in  a
joint  venture  agreement  and                there  are   conditions
precedent which  will change  its  percentage interest  in  a  mining
tenement, it should disclose the change of percentage interest and   
conditions precedent in the list required for items 6.1 and 6.2.
 
3 Issued and quoted securities  The issue price and amount paid up is
not required in items 7.1 and 7.3 for fully paid securities.
 
4 The definitions in,  and provisions of,  AASB 1022: Accounting  for
Extractive   Industries and AASB 1026: Statement of Cash Flows  apply
to this report.
 
5 Accounting  Standards ASX  will  accept, for  example, the  use  of
International Accounting  Standards  for foreign  entities.   If  the
standards used do  not address  a topic, the  Australian standard  on
that topic (if any) must be complied with.
 
 
 
 
 
 
 
 
 

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