Vatukoula Gold Mines - Conversion of Loan Notes
12-04-2010

The Company announces that application has been made for the admission to AIM ("Admission") of 8,833,333 new ordinary shares of 0.1p each in the Company ("Ordinary Shares"), pursuant to the conversion of loan notes.  The new Ordinary Shares rank pari passu with the Company's existing issued ordinary shares, and dealings are expected to commence on 16 April 2010.

Following Admission, the Company's enlarged issued share capital will comprise 3,661,204,360 Ordinary shares with one voting right per share. There are no shares held in treasury. The total number of voting rights in the Company is therefore 3,661,204,360.

This figure of 3,661,204,360 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

ENDS

ENQUIRIES
Bishopsgate Communications
Nick Rome

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