FIRST GOLD EXPORT AND DESIGN

RNS Number : 3120F

Centamin Egypt Limited

11 January 2010

 



Immediate Release

11 January 2010

Centamin Egypt Limited ("Centamin" or "the Company") 

(LSE:CEY, TSX:CEE, ASX:CNT)

FIRST GOLD EXPORT AND DESIGN THROUGHPUT ACHIEVED 

Centamin, the gold mining group in Egypt, is pleased to advise that the Sukari Gold Project has achieved yet another important milestone with the commencement of gold exports to a nominated overseas gold refinery, Johnson Matthey.

The commencement of gold exports from Sukari coincides with the achievement of optimal design throughput at the Sukari Gold Project during December 2009. The 4mtpa processing facility is now performing in accordance with commercial production standards and in line with design specifications. 

Sukari is the first modern commercial gold mine to be operated in Egypt, and has a current mineral reserve of 142Mt @1.4g/t Au for 6.4Moz. The current mineral resource stands at 210Mt @ 1.52g/t Au for 10.29Moz Measured and Indicated, and 66Mt @ 1.6g/t Au for 3.4Moz Inferred.

The achievement of the above milestones are a result of the extraordinary efforts and dedication of the entire team at Centamin and the co-operation of the Egyptian Government, in particular His Excellency Sameh Fahmy Minister for Petroleum and Mineral Resources. 

We look forward to updating stakeholders on further progress of the Sukari Gold Project in coming months as the exploration, development and production at Sukari continues.

For Centamin Egypt Limited

Josef El-Raghy

Managing Director/CEO

11 January 2010

For more information please contact:

Centamin Egypt Limited + 61 (8) 9316 2640 Josef El-Raghy  www.centamin.com

Buchanan Communications Limited + 44 (0) 207 7466 5000 Bobby Morse Ben Willey

  Quality Assurance and Control and Qualified Person

The information in this report that relates to ore reserves has been compiled internally and reviewed by Mr Andrew Pardey. Mr Pardey is a Member of the Australasian Institute of Mining and Metallurgy and is a full time employee of the Company. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a "Competent Person" as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a "Qualified Person" as defined in the "National Instrument 43-101 of the Canadian Securities Administrators" and "CIM Definition Standards For Mineral Resources and Mineral Reserves" of December 2005 as prepared by the CIM Standing Committee on Reserve Definitions of the Canadian Institute of Mining. Mr Pardey's written consent has been received by the Company for this information to be included in this report in the form and context which it appears.

The information in this report that relates to ore reserves has also been independently verified by Mr Pieter Doelman, an employee of Coffey Mining Pty Ltd Perth. Mr Doelman is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a  "Competent Person" as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a "Qualified Person" as defined in the "National Instrument 43-101 of the Canadian Securities Administrators" and the "CIM Definition Standards For Mineral Resources and Mineral Reserves" of December 2005 as prepared by the CIM Standing Committee on Reserve Definitions of the Canadian Institute of Mining. Mr Doelman consents to the inclusion of this estimate in reports.

Information in this report which relates to exploration, geology, sampling and drilling is based on information compiled by geologist Mr Richard Osman who is a full time employee of the Company, and is a member of the Australasian Institute of Mining and Metallurgy with more than five years experience in the fields of activity being reported on, and is a 'Competent Person' for this purpose and is a "Qualified Person" as defined in "National Instrument 43-101 of the Canadian Securities Administrators". His written consent has been received by the Company for this information to be included in this report in the form and context which it appears. 

The assay samples were analysed by Ultra Trace Pty Ltd, Canning Vale, Western Australia.

The information in this report that relates to mineral resources is based on work completed independently by Mr Nicolas Johnson, who is a Member of the Australian Institute of Geoscientists.  Mr Johnson is a full time employee of Hellman and Schofield Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a "Competent Person" as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a "Qualified Person" as defined in "National Instrument 43-101 of the Canadian Securities Administrators".  Mr Johnson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Refer to the updated Technical Report which was filed in May 2009 for further discussion of the extent to which the estimate of mineral resources/reserves may be materially affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issue.

 

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