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ANNOUNCEMENT

ARCHIPELAGO RESOURCES PLC

PURCHASE  OF  SHARES

by  and

ISSUE  OF  OPTIONS

to

DIRECTOR

Archipelago Resources Plc ("Archipelago" or "the Company") has been advised today by Mr Jeremy Ayre, a Director nominated by Baker Steel, that under an Agreement with Baker Steel pre-dating his appointment to the Board on 21st July 2009, Mr Ayre has exercised his right to purchase 600,000 shares in the Company (0.15% of the shares holding voting rights in the Company) from Baker Steel at a price of 13.75 pence per share.  

In addition the Company has granted 600,000 options to Mr Ayre under the Company's Unapproved Share Option Scheme 2002 which options will be exercisable at 25.85 pence per share from the date of Operational Completion of the Toka Tindung Gold Project processing plant until the 31st of December, 2012.

Further Info:    Colin Loosemore, Managing Director, Archipelago Resources Plc.

                          Tel:    00-618-9364-8301

 

                          Richard Chase, Ambrian Partners Ltd

                          Tel:    020-7776-6461

 

                          Ron Marshman / John Greenhalgh, Lothbury Financial

                          Tel:    020-7011-9411

 

                          Gerry Beaney / Fiona Kindness, Grant Thornton UK LLP

                          Tel:     020 7383 5100

 

www.archipelagoresources.com.au

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