Sukari Gold Project Update

RNS Number : 2614N

Centamin Egypt Limited

13 February 2009

 

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

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

MINING COMMENCES AT SUKARI GOLD PROJECT 

Centamin Egypt Limited is pleased to announce the commencement of mining operations at the Sukari Gold Project in Egypt. Blasting operations have commenced with ore to be stockpiled ahead of the scheduled completion of the Process Plant in the second quarter of 2009.

The commencement of mining operations is a significant milestone for Centamin and for Egypt. Centamin is developing the first large scale modern gold mine in Egypt on an owner-operator basis. Mining has commenced with an initial fleet of five CAT 785C Dump Trucks and a O&K RH120E excavator. A further delivery of five CAT 785C Dump Trucks and a second O&K RH120E excavator is scheduled for February in order to advance development activities throughout 2009. 

SUKARI GOLD PROJECT (BACKGROUND) 

Centamin is a mineral exploration and development company that has been actively exploring in Egypt since 1995. The principal asset of Centamin is its interest in the Sukari Gold Project, located in the Eastern Desert of Egypt. The Sukari Gold Project is at an advanced stage of development, with construction having commenced in the second quarter of 2007 and first gold production expected during the second quarter of 2009. 

The Sukari Gold Project will be Egypt's first modern gold mine and has a current resource of 9.39Moz Measured and Indicated and 3.5Moz Inferred. Ore will be hauled to the run of mine pad next to the Processing Plant and either direct tipped to the crusher or stockpiled for future reclaim at an initial throughput rate of 4M tonnes per annum.

On behalf of Centamin Egypt Limited

Josef El-Raghy

Managing Director/CEO

13 February 2009

For more information please contact:

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

Pelham Public Relations + 44 (0) 207 743 6376 Candice Sgroi Mobile: + 44 (0) 7894 462 114

Ambrian Partners Limited + 44 (0) 207 7634 4700 Richard Brown Richard Greenfield

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. 

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

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The information in this report that relates to mineral resources is based on work completed 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 Technical Report which was filed in March 2007 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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