Republic announces appointment of drilling contractor

March 26th, 2004

ASX ANNOUNCEMENT

26 MARCH 2004

The Manager
Companies Announcement Platform
Australian Stock Exchange Limited

SIGNIFICANT MILESTONE ACHIEVED
REPUBLIC GOLD APPOINTS DRILLING CONTRACTOR

The Directors of Republic Gold Limited today advise that the Company has accepted a drilling tender from OME Drilling Pty Limited (“OME”) of Charters Towers for OME to perform the Company’s initial drilling programme in the Hodgkinson Basin. The programme will commence in April when ground conditions are expected to be sufficiently dry to allow for unfettered access to drill sites. Approximately 80 RC and diamond holes will be drilled for a total of 5,000 metres of drilling.

The programme is designed to: -

• increase existing resources in areas where earlier resource estimates have been made, or extend previous drilling in other areas in order that an initial mineral resource can be estimated;

• provide samples for metallurgical testwork,

• provide information on geological structure to assist in modelling and targeting mineralisation by having a relatively high proportion of diamond drilling; and

• drill known oxide targets, in order that the Company can investigate early oxide gold production options.

A field visit by the Company’s consulting structural geologist, Dr Steve King, is planned for the first week of April as a precursor to the commencement of the drilling programme. Dr King’s visit will be used to fine tune the drilling programme, amongst other things.

The programme will drill in four areas as detailed below.

1 - EPM 9869 - Northcote Project (Republic 75%)

Northcote is one of the areas that has potential for short-term oxide production. As such, a number of drillholes in the programme will target oxide mineralisation. A number will also target significant sulphide zones that have been indicated by previous drilling and will help to provide structural geological information, important for the Company’s geological model for all the Hodgkinson Basin sulphide projects. The Northcote tenement is a granted tenement and as such is not subject to any native title negotiations.

2 - EPM 13937 - Tregoora Project (Republic 100%)

The programme for the Tregoora Project, lying on the regionally significant Retina Fault, also has two targets. The first it is to check for any oxide mineralisation that might be treatable by heap leach or CIP methods. There is an existing CIP plant and infrastructure at Tregoora that is owned by another party that may be able to be used for early gold production. The second target will see drilling follow-up the highly encouraging sulphide intersections at the Black Knight deposit. EPM 13937 has not yet been granted. Native title negotiations for an access agreement are required as a pre-requisite to the grant of the tenement. Discussions with the native title claimant group to-date have been very positive.

3 - EPM 13848 - Pinnacles Project (Republic 75%)

The Pinnacles Project lies 10 kilometres to the west of Northcote. The drilling programme at the Pinnacles Project will follow up the existing shallow oxide drillholes and will see a few wildcat drillholes to test for any sulphides at depth.

4- EPM 8689 - Atric Project (Republic Earning Up To 90%)

The Atric Project, with its high grade sulphide shoot, was the reason that Republic became interested in the Hodgkinson Basin. Drilling at Atric will concentrate on several areas. Drillholes will be designed to test the down plunge potential of the deposit. Some infill drilling will be done to improve the confidence in the existing resource. With only 2 existing diamond drillholes at Atric, information about its geological structure is scant. A number of the holes will have diamond cored tails to supplement the existing two cored holes and improve the structural information of the deposit. The Atric tenement is a granted tenement and as such is not subject to any native title negotiations.

Yours faithfully

John Kelly
Managing Director
Republic Gold Limited

For more information, please contact: Greg Barns on 0419 691 846 or John Kelly on 0418 577 759.

For more information, please contact: Greg Barns (gbarns@republicgold.com.au) on 0419 691 846 or John Kelly (jkelly@republicgold.com.au) on 0418 577 579.

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