Gladstone Pacific Nickel Limited announces that Mr Neil Eugene Meadows has resigned as acting MD of the company effective September 13th 2010.

Mr Neil has resigned from the board as he does not consider himself independent in relation to the current offer being made for the company by QNI Resources Pty Limited.

Under the requirements of the Australian Corporations Act, the company is required to have a minimum of three directors. In order to comply with these requirements, the company has appointed Mr Clive Frederick Palmer to the Board effective immediately.

A further announcement in relation to the appointment of Mr Palmer including the information required under Schedule 2(g) of the AIM Rules for Companies will be made as soon as possible.

Mr Palmer has an interest of 50.04% of the issued share capital of GPNL through his wholly owned subsidiary QNR. QNR is currently undertaking a takeover offer for GPNL.