GLADSTONE PACIFIC NICKEL LIMITED (ACN 104 261 887) - Fairway Takeover Offer - Extension of Offer Period

TORONTO, Aug. 27, 2012 /CNW/ - Gladstone Pacific Nickel Limited ("GPNL" or the "Company") announces that Fairway Coal Pty Ltd ("Fairway") has lodged with the Australian Securities & Investments Commission ("ASIC") a notice in relation to the takeover offer by Fairway for all the shares in GPNL that it does not already own (the "Offer"), pursuant to the Bidders Statement dated 5 June 2012.

In accordance with section 650D of the Corporations Act 2001 (Cth) Fairway gives notice that the offer is varied by extending the period during which the offer remains open for acceptance from 5pm (Sydney time) 27 August 2012 to 5.pm ( Sydney time) 2 October 2012 ( unless further extended)

Gladstone Pacific Nickel Limited is an Australian mining development company presently undertaking an Integrated Definitive Feasibility Study for the Gladstone Nickel Project. 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.

SOURCE: Gladstone Pacific Nickel Ltd.

Blair Brewster - Gladstone Pacific Nickel Ltd
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Email: [email protected]