Gladstone Pacific Nickel Ltd to de-list from the Toronto Stock Exchange

    BRISBANE, AUSTRALIA, Feb. 7 /CNW/ - Gladstone Pacific Nickel Ltd ("GPN"
or the "Company") today announced that it has decided to de-list its ordinary
shares from the Toronto Stock Exchange (the "TSX") effective at the close of
trading on February 22, 2008. The Company's shares continue to be listed on
the AIM of the London Stock Exchange. Shareholders holding shares listed on
the TSX at the effective de-listing date will be able to trade their shares on
the AIM.
    The Company's Chief Executive John Downie commented:
    "The decision to de-list the Company's shares from the TSX was based on
several factors including the Company's limited market following in Canada,
the costs and management resources involved in maintaining the TSX listing and
the recent shift to Asian sources of financing with the signing of the
Memorandum of Understanding with China Metallurgical Construction (Group)
    The Company has been unable to achieve a significant following on the TSX
however it continues to enjoy strong support on AIM. The focus, from both an
operational and financial perspective, is now on the Asia Pacific region and
as a result a TSX listing is no longer aligned with the Company's strategy.
The company will consider capital markets in the Asia Pacific region, such as
the Australian Stock Exchange, to meet its future capital requirements.

    Note to Editors:

    Gladstone Pacific Nickel Limited is a publicly-listed, Australian mining
development company, which is establishing a US$3.65 billion long-life, nickel
and cobalt refinery at the Gladstone State Development Area in Central
Queensland, Australia.
    GPNL is planning to build the refinery at the deepwater Port of
Gladstone, treating 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.


    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.

For further information:

For further information: John Downie, Chief Executive Officer, Gladstone
Pacific Nickel, Tel: +61 (0) 7 3231 7100; Fiona Owen, Grant Thornton Corporate
Finance, Tel: +44 207 383 5100; Simon Rothschild, Bankside Consultants, Tel:
+44 207 367 8888; Web:, Email:

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Gladstone Pacific Nickel Ltd.

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