Dear Shareholders

The company has been advised that as of close of business 2 November 2011,

Havilah Resources NL now holds 81.25% of Geothermal Resources Ltd.

Please visit the web site for more information.

http://www.geothermal-resources.com.au/

Geothermal Resources has updated its web site to include information about
the
off-market takeover offer for Geothermal Resources by Havilah Resources NL.

The closing date of the Offer is 14th November (unless extended or
withdrawn).

Best Regards


Bob Johnson
Chairman
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