Release: Oropa funding package update

(19 January 2009)--We refer to Oropa Limited?s (?Oropa or the Company?) announcement dated 31st December 2008 concerning the appointment of Blackwood Capital Limited (?Blackwood?) as lead arranger to complete a funding package of up to $2.0 million for the Company prior to 31st March 2009.

The Company is still in negotiations with Blackwood in relation to the final details of the funding package and expects to be in a position to make an announcement within the next week and convene a General Meeting of shareholders in late February.

Since entering into the arrangement, the Company has received $266,000 from sophisticated investor clients of Blackwood, which is being used for ongoing working capital requirements.

As outlined in the 31st December announcement, the directors have engaged Blackwood in this role to enable Oropa to resume exploration activities at its 75% owned Pungkut gold project in Sumatra, Indonesia and to provide much needed working capital. The timing of the funding initiatives proposed by Blackwood is critical to the ongoing viability of the Company.

Oropa?s directors consider that securing the proposed $2.0 million funding package will facilitate the undertaking of the initial phase of the ongoing Pungkut development programs while the Company sources additional substantial funding to advance the project towards feasibility. (end of release)

Editor?s note:
Pungkut gold project is located in North Sumatra. The company has outlined a mineral inventory of in excess of 1 million ounces of gold at Pungkut. Oropa has 75 percent stake in Pungkut gold project, with IDX-listed state owned miner PT.Aneka Tambang holding the balance.