Republic Gold Limited (ASX:RAU) Completes Far North Queensland Mining Lease Transaction

Brisbane, Oct 29, 2009 AEST (ABN Newswire) - Republic Gold Limited (ASX:RAU) today announced that the Company has completed the purchase of four mining leases that lie in the central Retina area at its 100%-owned Tregoora Project in Far North Queensland ("FNQ"). A drilling programme of approximately 3,000 metres is planned to commence once the drill rig has been mobilised and arrives on site.

The purchase of these mining leases is expected to enable the Company to release an inferred resource that combines the Company's estimated resource from drilling outside the mining leases and from historic drilling and sampling results within the mining leases. Details regarding any resource upgrade for the FNQ projects will be announced as soon as available.

Republic's Managing Director; John Kelly, said: "The Company has purchased these mining leases because of their potential to host high grade gold and antimony resources. The northern two mining leases have been mined for both metals. With the recent increase in the antimony price, the purchase is very opportune and will provide an immediate extension to our overall estimated resource at the Tregoora Project. Preparation for the drilling campaign is well advanced with the rig expected to be available shortly."

Contact

John Kelly Managing Director Republic Gold Limited Mob: +61-418-577-759