Company Information for Vatukoula Gold Mines plc

AIM-VGM

www.vatukoulagoldmines.com

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AIM; VGM

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Company Statement

Vatukoula Gold Mines plc is a UK based mining and exploration company with gold projects in Fiji and Brazil and a exploratory diamond project in Sierra Leone. The company's shares are traded on the London Stock Exchange's Alternative Investment Market (AIM) under the ticker 'VGM'.

Highlights

Own 100% of the Vatukoula Gold Mine in Fiji, a producing gold mine which contains 830,000 ounces of gold reserves and 5.15 million ounces of gold resources.
Benefits from a strong management team, with many years of global experience in both the investment and operational side of the gold and diamond industry
Own 100% of the Rio Novo Gold prospect in Brazil, consisting of 4 claims over an area of 30,000 hectares The area is proximate to the producing Palito Gold Mine.
Owns diamond exploration assets in Sierra Leone which are awaiting renewal of exploration licenses.
Own 0.46% of Global Diamond Resources Plc which owns 93% owned Kao Diamond Project in Lesotho

Current Operations

Vatukoula (Fiji)

The Company owns the mining rights and associated assets of the Vatukoula Gold Mine.
Reserves of 858,000 ounces gold and a resource of almost 5 million ounces gold
There are currently 3 operating shafts and a decline, plus over 450km of underground drives
Vatukoula has an operational history, of over 70 years and has excellent infrastructure

Exploration
As part of the mine restart, substantial near-mine and development exploration has been planned. This will initially focus on mineralisation along strike and down dip of existing ore bodies; once this has been completed exploration will begin on the Basala target. This target is 200 square metres with an elevated soil gold grade of 0.25 ppm. There is also exploration potential at two localities around the caldera, the Nasomo magnetic target and the Waikatakata area. The Competent Person Report indicates significant further upside with regard to potential additional resources.

Panguma (Sierra Leone)

5,400 hectares containing 2 confirmed kimberlite dykes + a 3rd Identified Target
Inferred strike length of 4km
Adjacent to Tongo Dyke Field, where US$ 2.75 billion diamonds have been extracted and dyke grades vary from 87cpht to 268cpht
Awaiting renewal of exploration license from the Ministry of Mineral Resources of Sierra Leone

Exploration
Exploration by Vatukoula Gold Mines Plc has demonstrated that a number of the kimberlite dyke systems located at Panguma have a strike extent up to 4-5km and the mini-bulk sampling programme has confirmed that most of the Panguma dykes are diamondiferous, with strongly anomalous values within the widest reported (composite) dyke at 0.8m. Some of the other dykes/fissures sampled also contain interesting grades up to 0.77ct/t, although dykes are narrower and may splay and pinch towards the southwest. These results bear comparison with similar work reported by Mano River and partners from the Lion dykes at Kono and the Tongo dyke system, although the narrow width of the dykes at Panguma can present a challenge to economic evaluation and development.

Rio Novo (Brazil)

Located in the Tapajos gold province, central Brazil
The area comprises 4 claims over an area of 30,000 hectares
The area is proximate to the Palito Gold Mine a producing gold mine.

In November 2006, Vatukoula Gold Mines Plc undertook a geological review of the area focusing on historic and current artisanal workings of both of alluvial and vein hosted origin. The work included mapping and grab sampling. The Competent Person's Report expresses the opinion that the area has significant gold potential and that the Company should carry out a well planned exploration programme across the area to identify possible targets for further exploration.

Kao Diamond Project (Lesotho)

The Company owns a 0.46% stake in Global Diamond Resources Plc, the holding company of the 147 million tonne, 10.19 million carat Kao Diamond Project in Lesotho, Southern Africa.

GLOBAL DIAMOND RESOURCES
On 26 April 2007, the Company acquired 1,212,121 ordinary shares in Global Diamond Resources Plc ("GDR") (representing approximately 0.46% of its issued share capital as of December 2007) for £400,000.

GDR's principal asset is the 93% owned Kao Diamond Project in Lesotho; a kimberlite deposit with an indicated and measured resource of 147 million tonnes at a grade of 6.9 carats per hundred tonnes.

The Kao Diamond Project was commissioned on 22 November 2007, and during the first week 30 tonnes of alluvial material was processed, producing the first diamonds which included an 0.86 carat stone.

Geographical Spread

Fiji and Brazil and a exploratory diamond project in Sierra Leone.

Board of Directors and Key Management

Ian Colin Orr-Ewing	Executive Chairman
David Paxton	CEO
David Anthony Lenigas	Executive Director
Kiran Caldas Morzaria	Finance Director
Donald Ian George Layman Strang	Non-executive Director
John Ian Stalker	Non-executive Director
Neil Lindsey Herbert	Non-executive Director
Herbert Hirst Leathley	General Manager of the Vatukoula Gold mine
Mike Shaw Walker	Country Manager

Company Address

22 Arlington Street
London, United Kingdom SW1A 1RD


Telephone:	+44 (0)207 016 7861
Email:	info[at]vgmplc.com
Website:	http://www.vatukoulagoldmines.com

Capital

Issued and fully paid Total shares on issue; 1,902,371,027; 100.00%

Nominated Brokers

W H Ireland Limited
24 Martin Lane
London
EC4R 0DR

Hichens, Harrison & Co. plc
Bell Court House
11 Bloomfield Street
London EC2M ILB

Nominated Advisors

W H Ireland Limited
24 Martin Lane
London
EC4R 0DR

Major Shareholders

PERSHING NOMINEES LIMITED	329,851,066	17.34%
TEMPLAR MINERALS LIMITED	285,000,000	14.98%
LAYTONS TRUSTEE COMPANY LIMITED	143,290,000	7.50%
VISO GERO GLOBAL INK	121,290,000	6.97%
EUROCLEAR NOMINEES LIMITED	101,616,154	6.65%
STATE STREET NOMINEES LIMITED	95,000,000	4.99%

Most Recent Statement

07/01/09 - Removal of Levy and Exemptions Grant
18/12/08 - Director Resignation
08/12/08 - Operational Update
11/11/08 - Operational Update for the Quarter Ending Sept 08
01/10/08 - Corporate Update
21/07/08 - Notice of AGM

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