Indophil Resources (ASX:IRN) Resumes Takeover Talks with Interested Buyers

Sydney, July 14, 2010 AEST (ABN Newswire) - Indophil Resources (ASX:IRN) said Wednesday that the company and its corporate advisor has commenced, in some cases recommenced, dialogue with a number of interested buyers, after termination of the agreement with China's Zijin Mining (SHA:601899) (HKG:2899) relating to a A$545 million takeover offer.

Indophil said it has received strong expressions of interest from credible and substantial parties comprising Chinese and non-Chinese groups since the agreement termination with Zijin due to delays in obtaining Chinese government approvals. Indophil is progressing discussions with interested parties and has opened a data room to assist potential purchasers' due diligence enquiries.

The company says it is not surprised at the strong level of interest given the unique and compelling attributes of its undeveloped Tampakan copper-gold project in Philippines.

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Michelle Liang Asia Business News Asia Bureau Tel: +61-2-9247-4344 Email: michelle.liang@abnnewswire.net