RESOURCE UPGRADES EXPECTED BY END JANUARY 2005 & UPDATE ON GEOCOAT® TECHNOLOGY

December 13th, 2004

The Directors are pleased to announce that Republic Gold (“RGL”) expects to be in a position to announce its initial mineral resource upgrades for its Hodgkinson Basin projects by the end of January 2005, with a number of new geological block models under construction. This work will underpin the Company’s plans to set up an initial 50,000 ounces per annum mining and biological oxidation operation on its increasing holdings in Far North Queensland.

The confidence levels of the resources are currently all classified as inferred and are expected to be substantially lifted to mine-able indicated category along with an increase in contained ounces through additions to existing resources and new resource areas. The existing inferred JORC resources at Northcote total 147,700 ounces and are contained within 5 deposits, which have been extended and will be supplemented by a further 3 areas. All of these areas have still only been examined to relatively shallow depths.

An increase in both resource quality and quantity is expected due to completion of verification of the extensive previous work at Northcote and the recent drilling of 46 new holes.

At Tregoora, approximately 200 previous drillholes have been entered into a new digital database, which in conjunction with drilling currently in progress, are expected to provide for a significant resource to be established.

The recently completed 5 diamond drill hole programme at the Atric Prospect visually intersected mineralisation in all holes. This drilling extended the shoot at Atric 100m down-plunge to a total length of 300 metres. Atric currently has an inferred JORC resource of 61,000 ounces.

The Company completed a 17 drill hole programme at the recently acquired Reedy Prospect last week. The digital database inherited from Gateway Mining was in excellent condition, and the recent drilling is anticipated to extend resources both along strike and at depth. Current measured, indicated and inferred resources at Reedy total 37,000 ounces (as detailed in previous reports), though this has only been calculated to a vertical depth of 40 metres.

The resource upgrades will be progressively worked on until the end of January 2005. At this point the Company anticipates that it will have developed sufficient economic parameters for a pre-feasibility study to be completed shortly afterwards.

The Company has visited the Agnew Mine in South Africa to view the world’s first commercial application of the GEOCOAT® bacterial oxidation heap leach technology. The technology impressed as being efficient, robust and simple. Capital and operating cost advantages over alternative bacterial oxidation technologies are evident.

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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