Release: Placement of shares in Oropa Limited

September 23, 2005 ? We refer to Oropa Limited?s previous announcement dated 5 September 2005, outlining general parameters of an interim fundraising.

Pursuant to that announcement, the Company?s directors are pleased to announce that the Company has raised $1,452,560 via a placement of 120,966,666 ordinary fully paid shares at 1.2 cents each, less commissions and costs estimated at approximately $110,000.

Due to regulatory requirements, this placement will be undertaken in two tranches as follows:

Tranche 1: unconditional
A total of 84,300,000 shares will be issued on or about 28 September 2005 at an issue price of 1.2 cents to raise $1,011,600 before costs utilizing the Company?s 15% capacity.

Tranche 2: conditional
Subject to obtaining shareholder approval a total of 36,666,666 shares will be issued at an issue price of 1.2 cents per share to raise a total of $440,960 before costs.

The funds raised from the Tranche 1 and Tranche 2 placements will be used to undertake regional work at a number of high priority targets located in the southern block of the Pungkut gold project in Sumatra, Indonesia, specifically Tambang Ubi and Tambang Hitam prospects. (end of release)