Republic Gold Limited (ASX:RAU) Far North Queensland's Gold Resources At Tregoora Upgraded By 48%

Brisbane, Oct 30, 2009 AEST (ABN Newswire) - Republic Gold Limited (ASX:RAU) today announced that the Company's independent resources estimation consultant has completed work on a resource upgrade at the 100%-owned Tregoora Gold Project in Far North Queensland. This independent estimation has resulted in a significant increase of the Mineral Resource at Tregoora from 155,000 ounces to 229,000 ounces. This latest resource upgrade includes the maiden estimates from the Company's Terrace Creek prospect.

Data from the most recent high grade drilling at Tregoora, including drilling during the 2008 field season, has been included in the Company's database and input into the new resource model. Minor resource estimation updates also took place where recent metallurgical drilling was completed.

The recently announced completion of the transfer of the four mining leases purchased by the Company from a local prospector has enabled additional resources to be estimated at the Retina and Sleeping Giant Prospects.

Republic's Managing Director; John Kelly, said: "The latest resource upgrade is another step in demonstrating the current dimensions and future potential at the Tregoora Project. The latest upgrade is significant both in terms of overall ounces and grade."

The input of the high grade drill results from the Terrace Creek Prospect will enable the Company to evaluate the small tonnage, high grade operation previously flagged. In addition, the completion of the transfer of the four mining leases now gives us an immediate new drill target that will be drilled before the conclusion of the field season. If the feasibility study on this material is successful, then a cash flow generating operation will be fast tracked. There is also additional potential for toll treatment of high grade material. Our drilling program has been very successful to date, and we expect further drilling will add to the size and quality of our existing resource base.

The Company continues to work hard on the feasibility study for Amayapampa, with work being undertaken now to upgrade the existing +1Moz resource model."

Contact

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