LRS Latin Res

RNS Number:9970T
Lodore Resources Inc
11 November 2005


11 November 2005

Lodore Resources Inc ("Lodore")

                                Update Re Offer

Lodore has been notified by IB Daiwa Corporation ("IBD"), that further to IBD's
offer to purchase the entire issued share capital of Lodore as announced on 3
November 2005, IBD has updated the market regarding the status of its separate
bid for Tethyan Copper. Further details on this bid are included in the IBD
offer document sent to Lodore shareholders, in Part II.10 and Part VI.3.1. The
update received by Lodore from IBD is copied below:

"Please be informed of the following in respect of the off-market takeover bid
for Tethyan Copper Company ("TYC").

1.      Skafell Pty Limited, IBD's 95% subsidiary and the bid vehicle for the
TYC takeover ("Skafell"), notified the ASX today that it is now interested in
8.47% of the total issued share capital of TYC. This notification was done in
compliance with ASX rules requiring holders to disclose their substantial
interest, and as a result of Skafell's receipt recently of additional
acceptances from shareholders representing some 7.2% of total issued share
capital.
2.      Skafell also extended the offer period for the takeover to 19 December
2005."

Enquiries:

Lodore
Bob Williams, Executive Chairman +65 6324 0017
Peter Kirkham, Executive Director +65 9430 0565

Fishburn Hedges
(PR Adviser to Lodore)
Andrew Reid / Andrew Marshall +44 (0)20 7839 4321



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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