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

    TORONTO, April 21 /CNW/ - Gladstone Pacific Nickel Limited ("GPN" or "the
Company") is pleased to announce the appointment of Professor Clive Palmer to
the board of directors.
    Professor Clive Palmer was a director of the Company from 11 December
2007 until 30 July 2008, when he resigned to avoid potential conflicts of
interest given a proposed merger of GPN with Resource Development
International Limited ("RDI"), a company controlled by Professor Palmer. The
re-appointment of Professor Palmer to the GPN Board was made possible after
the lapse of the Scheme Implementation Agreement, regarding the proposed
merger with RDI, on 31 March 2009.
    Professor Palmer is GPN's major shareholder with 48.7% ownership.
    Professor Clive Palmer has been appointed in a non-executive capacity to
join current Directors James Henderson, Domenic Martino, Benjamin Hill and
Managing Director, John Downie, on the GPN Board.
    Professor Clive Palmer, is recognised as one of Australia's' wealthiest
citizens. The Australian publication Business Review Weekly ("BRW") ranked
Professor Palmer as 32nd in its Rich 200 list in 2007 with a personal wealth
of over A$1 billion. He was the fastest new entrant to the BRW Rich 200 for
    Professor Palmer, has over 25 years experience in the Australian resource
industry, and is Chairman of Mineralogy Pty Ltd ("Mineralogy"), 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 Limited (ASX Listed).
Mineralogy holds one of the world's major iron ore deposits in the Pilbara
region of Western Australia.
    CITIC Pacific Limited has commenced the development of a A$4 billion
project, funded by Chinese Government owned Banks, to export 24 million tonnes
of iron ore annually from Western Australia.
    The Board believes Professor Palmer's success with major projects will
facilitate the fast track 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 Professor Palmer 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 Frederick Palmer, aged 55.

    Current directorships                Past directorships or partnerships
    A.C.N. 117 067 179 Pty Ltd           Egidia Pty Ltd
    A.C.N. 119 455 284 Pty Ltd           Gladstone Pacific Nickel Limited
    A.C.N. 119 455 631 Pty Ltd           International Minerals Pty Ltd
    A.C.N. 119 455 686 Pty Ltd           Korean Steel Pty Ltd
    A.C.N. 119 455 748 Pty Ltd           Leteni Pty Ltd
    A.C.N. 119 455 837 Pty Ltd           Sino Iron Pty Ltd
    A.C.N. 119 455 873 Pty Ltd
    A.C.N. 119 455 917 Pty Ltd
    A.C.N. 119 456 085 Pty Ltd
    A.C.N. 119 456 594 Pty Ltd
    A.C.N. 119 456 674 Pty Ltd
    A.C.N. 119 458 338 Pty Ltd
    A.C.N. 119 458 356 Pty Ltd
    A.C.N. 119 458 365 Pty Ltd
    A.C.N. 119 458 374 Pty Ltd
    A.C.N. 119 458 383 Pty Ltd
    Anshan Resources Pty Ltd
    Austeel Pty Ltd
    Australian Commercial Research
    & Development Pty Ltd
    Balmoral Iron Pty Ltd
    Balmoral Mining Pty Ltd
    Bexfan Pty Ltd
    Biosystems Pty Ltd
    Cane River Mining Pty Ltd
    Chatsbrook Pty Ltd
    China First Pty Ltd
    Chinampa Exploration Pty Ltd
    Citic Holdings Pty Ltd
    Closeridge Pty Ltd
    Cold Mountain Stud Pty Ltd
    Cosmo Developments Pty Ltd
    Dasines Pty Ltd
    Drewmaster Pty Ltd
    Elect the President Pty Ltd
    Euroiron Limited
    Gold Coast United F.C. Pty Ltd
    (formerly Hafadai Pty Ltd)
    Kingsway Oil Limited
    Magnetite Resources Pty Ltd
    Mineralogy Pty Ltd
    Mineralogy Mine Management Pty Ltd
    Netstar Pty Ltd
    Normanton Pty Ltd
    Resource Development International
    Resources Investments (WA) Pty Ltd
    Resourcehouse Limited
    River Crescent Pty Ltd

    Professor Palmer is currently a director of Austeel Pty Ltd which entered
into a deed of Company arrangement on 27 January 2005. Terms were satisfied
and the company returned to shareholders and directors on 10 September 2007.
    Professor Palmer was a director of Baltarna Belgium Blues Stud Pty Ltd
between 8 May 1987 and 29 January 1994. The company was deregistered following
the voluntary appointment of a liquidator by members on 21 September 1994.
    Professor Palmer is currently a director of Biosystems Pty Ltd for which
the strike-off auction is in progress. A liquidator was appointed 12 June 2008
to undertake a creditors voluntary winding up.
    Professor Palmer has beneficial interest of 34,545,233 ordinary shares in
GPN, representing 48.7% of the issued share capital in GPN.
    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:

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