Tenement Developments

ANNOUNCEMENT

ARCHIPELAGO RESOURCES PLC

DISCOVERY OF COPPER GOLD PORPHYRY MINERALISATION

by

MEDUSA MINING

on a

TENEMENT in which ARCHIPELAGO

has an

ENTITLEMENT TO INTEREST

The Company has been advised by Medusa Mining of a discovery of copper gold mineralisation in a tenement owned by Corplex Resources Incorporated, a Philippine company in which Archipelago has the right to acquire not less than an 80% interest. Details of the discovery and interest entitlements are described in the announcement by Medusa. (www.medusamining.com.au/index1.html )

Archipelago is a mining company listed on the AIM market of the London Stock Exchange. The Company's principal activities are gold mining and exploration in Indonesia (as 85% owner of the Toka Tindung Gold Project in Sulawesi), Vietnam (as majority party in the Pac Lang and Cam Thuy/Ba Thuoc joint ventures with VINACOMIN a Vietnamese Government mining company) and the Philippines (via entitlement to not less than an 80% interest in exploration company Corplex).

Further Info: Colin Loosemore, Managing Director, Archipelago Resources Plc.

Tel: 00-618-9364-8301

Shaun Whyte / Richard Swindells, Ambrian Partners Ltd

Tel: 020-7634-4700

Ron Marshman / John Greenhalgh, City of London PR Ltd

Tel: 020-7011-9411

Gerry Beaney / Fiona Kindness, Grant Thornton Corporate Finance

Tel: 020 7383 5100

www.archipelagoresources.com.au