FND Finders Res.

    Placing
             



                      FINDERS RESOURCES LIMITED

     Finders to Raise up to $5 million in placement, subject to
                        shareholder approval.
Share Purchase Plan initiated for existing shareholders at same terms

Finders Resources (FND)  is pleased  to announce that  it intends  to
raise up to AUD$5.0 million,  subject to shareholder approval at  its
AGM on October 16th 2008, through the placement (the Placement) of up
to 8,333,333  ordinary shares through  RFC Corporate Finance Ltd  and
FinnCap.

The Company  has  received  commitments from  new  institutional  and
private investors  and  the  Directors  for  approximately  5,690,000
shares,  (dependent  on  AUD:USD  exchange   rate  at  the  time   of
shareholder approval), at $0.60 per share  and 1,725,000 shares at  a
price of GBP 0.28 per share.

The commitments also  include a  total of $600,000  committed by  the
Company's directors and their associates, being $250,000 committed by
an associate of Russell Fountain, $250,000 committed by associates of
Stephen de  Belle  and  $100,000  committed  by  Chris  Farmer.   The
participation of the directors  in the placement  is also subject  to
shareholder approval at  the AGM.   Stephen  Lonergan and Ian  Neuss,
being  the  directors  of  the  Company  not  participating  in   the
placement, consider, having consulted with RFC Corporate Finance Ltd,
the Company's Nominated adviser in relation to its listing on the AIM
market, that the terms of such participation are fair and  reasonable
insofar as the Company's shareholders are concerned.

In addition,  to  enable  current  ASX  shareholders  and  Depository
Interest holders to participate in the fund-raising on similar  terms
to the placement, the Company will offer a Share Purchase Plan (SPP),
whereby existing shareholders as of record date 3 September 2008 will
be invited to subscribe up to AUD$5,000 (equivalent) for shares at  a
price of AUD$0.60 or GBP 0.28 per share. If fully subscribed the  SPP
would raise  an  additional AUD$2,639,000  (approx.  GBP  1,220,000).
Letters to shareholders will be distributed by Computershare.

Funds raised will be applied to continuing the fast track development
schedule for the Wetar Copper Project feasibility study (particularly
the detailed engineering design work to enable ordering of long  lead
time items during 2008), additional work to define higher grade start
up resources  for the  Ojolali  gold-silver project,  and  additional
working capital.

Chris Farmer, Managing Director commented:

"We are very pleased to have secured  this funding in what is a  very
challenging capital raising environment. This additional funding will
enable us to aggressively pursue our exciting development targets for
both the Wetar Copper project and the Ojolali gold-silver project."


For further information please contact

Finders Resources Ltd:
Russell Fountain, Executive Chairman, +61 2 9211 8299
Chris Farmer, Managing Director, info@findersresources.com

Financial PR:
Doug Macdonald, +61 424 255 959, Capital Group (in Australia)
Paddy Blewer or Nick  Elwes, +44 20 7457  2020, College Hill (in  the
UK)

RFC Corporate Finance Ltd - Nomad and Corporate Adviser:
Rob Adamson, +61 2 9250 0000 or Stuart Laing, + 61 8 9480 2500

Background
Finders, listed on AIM and ASX,  is the operator of the Wetar  Copper
(~73% and  earning),  and  Ojolali  Gold-Silver  Projects  (72%  with
option) in Indonesia, and holds an investment in Geopacific Resources
NL, an ASX-listed company with  active exploration programs for  gold
and copper in Fiji.

At the Wetar  Copper Project,  Finders has  previously announced  the
following  resource  estimates  for  the  Kali  Kuning  and   Lerokis
deposits:


                                                 Attributable (72.4%)
             Category  Tonnes (M) Cu%  Cont. Cu  Tonnes (M) Cont. Cu
                                         (KT)                 (KT)
Kali Kuning  Measured     3.3     2.7     89        2.4       64.6
0.5% Cu      Indicated    2.6     2.4     63        1.9       45.3
Cut-off      Inferred     0.6     1.8     11        0.4        7.7
grade
             Total        6.6     2.5    165        4.8       119.1
Lerokis      Indicated    2.9     2.5     71        2.1       51.6
0.5% Cu      Inferred     0.4     1.7     7         0.3        4.9
Cut-off      Total        3.2     2.4     76        2.3       55.1
grade
             Overall      9.8     2.5    241        7.1       174.2


As part  of a  definitive feasibility  study, a  demonstration  SX-EW
plant with 5t per day copper cathode capacity is being installed with
planned  cathode  production  from  September/October  2008,  pending
timely  delivery  of  late   equipment.  The  Company  is   targeting
commercial production of 20-25,000 tonnes per year cathode by the end
of 2009.

At the Ojolali Project,  Finders controls what it  considers to be  a
major new  epithermal  gold district,  and  has been  undertaking  an
extensive  exploration  program   comprising  detailed  drilling   to
establish and initial mining resource, supported by extensive surface
geophysical and  geochemical  surveys.  Finders'  believes  that  the
Ojolali project has strong potential to generate short-term cash flow
through open  pit CIL/CIP  development of  the gold  resource at  the
Jambi Oxide gold deposit.

For further information  on results  previously reported  and a  full
resource statement please visit our website www.findersresources.com.

Competent Person Signoff
The Australasian Code for  Reporting of Exploration Results,  Mineral
Resources and  Ore  Reserves  (the  'JORC  Code')  sets  out  minimum
standards, recommendations  and guidelines  for Public  Reporting  in
Australasia  of  Exploration  Results,  Mineral  Resources  and   Ore
Reserves. The  information contained  in this  announcement has  been
presented  in  accordance  with  the  JORC  Code  and  references  to
"Indicated" and "Inferred Resources" are to those terms as defined in
the JORC Code.

The geological and Mineral Resource information in this  announcement
has been reviewed  by and is  based on information  compiled by Dr  R
Fountain  who  is   a  Fellow  of   the  Australasian  Institute   of
Geoscientists and a Director of  Finders. Dr Fountain has  sufficient
experience that is relevant to the styles of mineralisation and types
of deposits  under  consideration and  to  the activity  that  he  is
undertaking to qualify  as Competent  Person as defined  in the  JORC
Code. He  consents  to the  inclusion  in this  announcement  of  the
matters based on  his information in  the form and  context in  which
they appear.

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