Toledo Mining Corporation

RNS Number:8991G
Archipelago Resources PLC
30 December 2004



Archipelago Resources plc ("Archipelago" or "The Company")

30 December 2004


INDIAN OCEAN TIDAL WAVES

Archipelago Resources plc wishes to advise that its Toka Tindung Gold Project
in
North Sulawesi has been unaffected by the recent tidal waves that have brought
such catastrophic destruction and tragic loss of life to Indonesia and other
South Asian countries that border the Indian Ocean. Sulawesi along with all of
the South East Asian coastlines east of the Malacca Straits has been spared this
disaster.

The Toka Tindung Gold Project is located at an elevation of 200m above sea
level
and 4 kms inland. The Company is currently completing due diligence studies as a
necessary pre-requisite for project financing. The project has a resource of
1.75M oz of gold equivalent of which at least 0.9M oz will initially be
mineable
by open pit. The project is targeted to produce at least 160,000 oz per annum
for an initial 6 year mine life commencing in early 2006.

Archipelago is a mining company listed on the AIM market of the London Stock
Exchange. The Company's principal activities are gold mining and exploration in
Indonesia (as 85% owner of the Toka Tindung Gold Project in Sulawesi), Vietnam
(as majority party in the Cam Thuy/Ba Thuoc joint venture with Vimico a
Vietnamese Government mining company) and the Philippines (as 100% option
holders over the Corplex tenements).

Commenting on the tsunami, Colin Loosemore, Chief Executive of Archipelago,
said:

"This tidal wave appears to be the worst of its kind in recorded history.
Archipelago will strive all the more to develop its project and bring jobs and
prosperity to a nation and its people who have borne the suffering caused by
such an act of nature."

www.mining-investor.com/arch