Gladstone Pacific Nickel Limited - Substantial Shareholder Increases Stake to
50.04%

TORONTO, Jan. 6 /CNW/ - Gladstone Pacific Nickel Limited (the "Company") has today been informed that Mr. Clive Palmer or his related entities acquired an additional 950,000 ordinary shares at 17 pence per share on 5 January 2010.

Following this purchase, Mr. Palmer and his related entities are interested in a total of 35,495,233 ordinary shares in the Company which represents 50.04% of the Company's ordinary shares in issue.

SOURCE Gladstone Pacific Nickel Ltd.

For further information: For further information: Gladstone Pacific Nickel Ltd: James Henderson, Chairman,, Tel: +61 (0) 2 9252 8455, Email: info@gladstonepacific.com.au; Grant Thornton Corporate Finance: Gerry Beaney, Robert Beenstock, Tel: +44 207 383 5100; Arbuthnot Securities: John Prior, Tel: +44 207 012 2000

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Gladstone Pacific Nickel Ltd.

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