Indochine Mining Limited (ASX:IDC) Shareholders Approve Gold/Silver Acquisition In Papua New Guinea

Sydney, June 1, 2011 AEST (ABN Newswire) - Shareholders have unanimously approved the major gold/silver acquisition of a multi-million ounce gold/silver deposit in Papua New Guinea (PNG) for Indochine Mining Limited (ASX:IDC) (Indochine). All votes recorded were in favour, with more than 50% of shareholders voting.

A substantial increase is expected in JORC resources in 3+ months time due to lower cut-off grades.

The last resource was calculated at US$300/ounce gold price (20% of the current price) and US$5.50/ounce silver price (15% of the current price).

Enterprise value per ounce is a third to a fifth of comparative gold projects.

Results of Shareholders General Meeting, 11am, 1 June 2011

All resolutions were carried by a show of hands.

Contact

Stephen Promnitz CEO Tel: +61-2-8246-7007 mailto:info@indochinemining.com http://www.indochinemining.com