Gladstone Pacific Nickel Ltd. (ACN 104 261 887) - Appointment of new board member



    TORONTO, May 26 /CNW/ - Gladstone Pacific Nickel Limited ("GPN" or "the
Company") is pleased to announce the appointment of Mr Clive Mensink to the
board of directors.
    Clive Mensink is a senior executive and director of Mineralogy Pty Ltd
("Mineralogy"), and he is also the deputy chairman of ASX listed, Australasian
Resources Ltd.
    Mineralogy is a private Australian company that has successfully
concluded major transactions with a number of companies including the Chinese
Government owned CITIC Pacific Limited (HK Listed), Australasian Resources
Limited (ASX Listed) and a Memorandum of Understanding with Fortescue Metals
Group Limited (ASX Listed). Mineralogy holds one of the world's major iron ore
deposits in the Pilbara region of Western Australia.
    Clive has been with Mineralogy for over 15 years where he has played a
key role in the development of the company. He has led numerous business
delegations to the People's Republic of China.
    The Board believes Clive's experience and success with major projects
will provide a significant contribution to the development of the Company's
major project.
    The information that is required to be disclosed pursuant to Schedule 2
paragraph (g) of the AIM Rules in respect of Mr Mensink is set out in Appendix
1.

    Gladstone Pacific Nickel Limited (GPNL) is an Australian mining
development company presently undertaking an Integrated Definitive Feasibility
Study (IDFS) for the Gladstone Nickel Project (GNP). The Company's vision is
to build a major long-life nickel cobalt refinery at the deepwater Port of
Gladstone, in Central Queensland, Australia, treating abundant high grade
nickel laterite ores from New Caledonia and other south-west Pacific islands,
underpinned by beneficiated ores from its own Marlborough deposits. The
Project has the potential to be one of the largest of its type in the world
producing some 126,000 tpa nickel (8 - 10% of global nickel demand) and 10,400
tpa of cobalt metal from its first two stages.

    This news release includes certain statements that may be deemed
"forward-looking statements". All statements in this news release, other than
statements of historical facts, that address future exploration drilling,
exploration activities and events or developments that the Company expects,
are forward looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those in
forward-looking statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include metal prices,
exploration success, continued availability of capital and financing, and
general economic, market or business conditions.

    Appendix 1

    Set out below are the current and past Directorships over the past five
years of Clive Theodore Mensink, aged 40.

    
    -------------------------------------------------------------------------
    Current directorships                 Past directorships or partnerships
    -------------------------------------------------------------------------
    Anshan Resources Pty Ltd              Balmoral Mining Pty Ltd
    Australian Commercial Research &      Korean Steel Pty Ltd
     Development Pty Ltd                  Sino Iron Pty Ltd
    Australasian Resources Limited        Waratah Coal Inc.
    Biosystems Pty Ltd
    Chatsbrook Pty Ltd
    Chinampa Exploration Pty Ltd
    Cold Mountain Stud Pty Ltd
    Fairway Coal Pty Ltd
    Galilee Infrastructure Pty Ltd
    Galilee Power Pty Ltd
    Gold Coast United F.C. Pty Ltd
     (formerly Hafadai Pty Ltd)
    Group Coal Pty Ltd
    Holy Spirit Pty Ltd
    International Exploration Limited
    International Minerals Pty Ltd
    Mineralogy Pty Ltd
    Normanton Pty Ltd
    Resource Development International Limited
    Resourcehouse Limited
    Waratah Coal Pty Ltd
    -------------------------------------------------------------------------
    

    Mr Mensink is currently a director of Biosystems Pty Ltd. A liquidator
was appointed on 30 May 2008 to undertake a creditors voluntary winding up and
this process is now complete. No distributions were made to creditors, however
there were no objections by creditors and there are no outstanding creditor
claims. A request for deregistration has been lodged with the Australian
Securities and Investments Commission (ASIC).
    There are no further details that are required to be disclosed under
paragraph G of Schedule 2 of the AIM Rules.




For further information:

For further information: John Downie, CEO - Gladstone Pacific Nickel
Ltd, Tel: +61 (0) 7 3231 7100; Fiona Owen - Grant Thornton UK LLP, Tel: +44
207 383 5100; John Prior - Arbuthnot Securities, Tel: +44 207 012 2000; Email:
info@gladstonepacific.com.au

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Gladstone Pacific Nickel Ltd.

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