HIGH LAN D S PACIFIC LI M I TED ARBN 07 8 11 8 653

Incorporated in Papua New Guinea

Registered Office Registered Office in Australia

PO Box 1486, Port Moresby NCD 121 GPO Box 3086, Brisbane QLD 4001
Papua New Guinea Australia
Level 1 Allotment 6, Section 58 Level 4, 167 Eagle Street
Sir Hubert Murray Highway Brisbane Qld 4000
Boroko NCD Australia
Papua New Guinea
Telep hone: (67 5 ) 323 5966 Telep hone: (61 7 ) 3239 780 0
F a c s i m i l e : (67 5 ) 323 5990 F a c s i m i l e : (617) 3221 672 7
W ebs it e: www. hi g hlands pac if ic . c om Email: i nf o@highl ands pac if ic . c om

24 April 2012

Company Announcements Office

ASX Compliance

20 Bridge Street

Sydney NSW 2000

Dear Sir,

CORRECTION - 2011 ANNUAL REPORT

We refer to page 16 of the 2011 Annual Report released to the market on 16 April 2012 in which estimates of 'in- situ value' and 'value of production' were quoted. This tabulation is a breach of the JORC Code and should not have been reported. It was not the intention of the Company to imply economic viability of the Frieda resource. The Company is mindful of the JORC Code reporting requirements and hereby retracts the tabulation of 'in-situ value' and 'value in production'.

Yours faithfully

CRAIG LENNON COMPANY SECRETARY

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