Centamin Egypt Limited Reports on Activities in the Quarter Ended March 31, 2007



    TORONTO, April 26 /CNW/ - Centamin Egypt Limited ("Centamin" or "the
Company") (TSX: CEE; AIM: CEY; ASX: CNT) is providing the following report on
its activities in the quarter ended March 31, 2007.

    
    Highlights

    -   Sukari JORC compliant resource upgraded to 8.26 million ounces of
        gold
    -   JORC compliant reserve figure of 3.7 million ounces of gold
    -   Completion of "economically robust" Definitive Feasibility Study
        (DFS)
    -   Formal Board approval for Sukari Development
    -   Completion of C$151m Equity Raising and TSX listing
    -   Appointment of Barclays as Mandated Project Finance Lead Arranger
    -   Acquisition of 28MW power station
    -   Completion and submission of Environment Impact Assessment (EIA)
    -   Addition of a further RC rig takes drilling fleet on site to 10 rigs
    -   Record quarter of drilling, 33,133 metres drilled
    -   Project total drilling now exceeds 200,000m and 1,000 holes
    -   Drilling continues to encounter significant mineralization
    -   Significant drill intersections for the quarter

              -   RCD421   -   120m @ 1.98g/t Au
              -   RCD454   -   40m @ 8.65g/t Au
              -   RCD574   -   30m @ 16.9g/t Au
              -   RCD708   -   50m @ 1.90g/t Au
              -   RCD735   -   28.6m @ 10.54g/t Au
              -   RCD817   -   3m @ 47.29g/t Au
              -   RCD741   -   138m @ 1.35g/t Au

    Definitive Feasibility Study "DFS"

    On 19 February 2007, the Company announced that the DFS into the Sukari
Gold Project ("the Project") had been completed.

    A summary of the findings of the DFS were:

    -   the DFS concluded that a 4mpta plant producing on average 200,000
        ounces per annum, over 15 years of mining, is economically robust;
        and
    -   total Capital Construction costs are estimated at US$216m with
        average cash operating costs of US$290/oz (inclusive of 3% royalty)
        over the 15 year mining period.

    On the same day, the Board of Directors formally approved the development
of the Project.

    Development Schedule - Update

        Project Go-Ahead Decision              Feb 2007 (Completed)
        Project Finance                        Q3 2007 (Equity component
                                                        complete)
        Commence Site Works                    Q3 2007
        Commence Tailings Storage Facility     Q3 2007
        Kori Kollo Plant Arrives Egypt         Q3 2007
        Commence Mining Pre-strip              Q3 2007
        Commissioning and Production           Q3 2008
    

    An overview of the development schedule key items is set out below under
the same headings:

    Project Finance

    During the quarter, the Company completed a roadshow through London and
North America with Westwind Partners Inc. At the completion of this roadshow,
the Company placed approximately 175m new shares to raise C$151m. The placing
was heavily oversubscribed. Subsequent to this, the Company completed a full
TSX listing and shares began trading on April 5th. These equity funds will be
applied to the Sukari development and represent the full equity component of
the capital required to take the project into production.
    On 17 April 2007, the Company announced that Barclays Capital, the
investment banking division of Barclays Bank PLC, was appointed as Mandated
Lead Arranger to finance a of up to US$100 million for the Project.
    Together with the proceeds from the recently completed TSX listing and
offering, this facility will complete the financing arrangements required for
the development of the Project. The funding is subject to completion of due
diligence and detailed documentation.
    The due diligence process has commenced (April 2007) with the review of
Project data, and visits to site by key banking personnel are scheduled for
early May 2007. The Company is in receipt of the project financing schedule
from Barclays Capital and expects to complete the financing of the Project in
the third quarter of this year.

    Kori Kollo Process Plant

    During the quarter a supervisory dismantling team from Australia, under
the management of Centamin's Construction Manager, mobilised to site along
with Kaiser Setec, a local Bolivian engineering company, who have been awarded
the dismantling contract.
    Dismantling work commenced in February, following receipt of dismantling
equipment and establishment of site facilities.

    
    Progress at the end of the quarter is as follows:

        -   Crushing            65% complete
        -   Reclaim             25% complete
        -   Grinding            21% complete
        -   CIL                 12% complete
        -   Thickener           37% complete
        -   Plant Services      93% complete
        -   Gravity Circuit     90% complete
        -   Cyanide Area        Yet to commence
    

    First shipment of dismantled equipment will commence in June and will
largely consist of those requiring refurbishment outside of Egypt prior to
importation to Alexandria and then site.

    Project Engineering and Design

    A contract for the engineering and design work for the process plant was
awarded in mid March to MetPlant Engineering Services Pty Ltd, an Australian
based company. A technical team visited Bolivia (April) and will travel onto
Egypt in early May to review the Kori Kollo processing plant dismantling
progress and the Sukari plant site location respectively. Data and information
gathered from these visits will be used to finalise design and engineering
work. Completion of this work is scheduled for the second quarter of 2007 to
enable plant site clearing and civil earthworks to commence in early July
2007.
    An Egyptian engineering company, TCB Egypt, has been engaged to detail
design and engineer the construction camp, kitchen-mess, desalination plant
and sewerage treatment plant. These facilities will go out for tender bids in
early May. Construction camp grading drawings are in progress and civils
earthwork will commence once equipment, surveyors and a field engineer are
established at site. The layout for the mine maintenance workshop has been
finalised and issued for design.
    This key development schedule item remains on track for completion as
planned.

    Tailings Storage Facility

    Knight Piesold Pty Ltd has been appointed to carry out the design and
construction supervision of the Tailings Storage Facility with HDPE liner. A
site visit for their engineer has been scheduled in May 2007 to conduct a
geotechnical survey and identify borrow sources for all materials.

    Mining

    Mr Tadek Wojtowicz commenced in the role of Mining Manager in mid March.
    Discussions with fleet suppliers were held during the quarter, and at the
conclusion of the tender process, Caterpillar, through their Egyptian
authorised dealer Mantrac, was selected as the supplier of haulage trucks,
articulated dump trucks, excavators, graders and dozers. Atlas Copco has been
selected to supply grade control and blast hole drilling equipment. Final
discussion over maintenance and repair contracts are being held, and will be
completed during the June quarter.
    Initial deposits on the long lead-time haulage trucks and excavators have
been made, with arrival into the Port of Alexandria scheduled for late June
2007.
    Recruitment of key expatriate personnel is well advanced with
appointments scheduled to be made in May 2007.

    Power Station

    During the quarter, the acquisition of a 28MW Heavy Fuel Oil second hand
power plant, currently decommissioned and resident in Turkey, was finalised
following inspection and assessment of its good condition. The purchase of
this critical path item has removed a significant amount of project risk from
the completion schedule and will also represent a material saving on the
budgeted capex amount in the DFS for this item.
    A contract for the dismantlement, packing and transportation within
Turkey has been awarded to a Magdenli, a Turkish engineering group, with a
small Centamin team currently in Turkey overseeing these activities. It is
expected to take 16 weeks to dismantle. Maintenance support in Egypt for the
equipment will be provided by the local Caterpillar dealer, Mantrac.

    Owners Team

    The Company's organisational structure continues to grow with many key
appointments being made in the quarter. In a booming resource market, the
Company is very pleased with the quality of the personnel that have been
attracted to the project and the positions below have now been filled. The
Company will continue with its large "owners team" approach.

    
        -   Project Manager
        -   Deputy Project Manager (HSE/Infrastructure)
        -   Construction Manager
        -   Construction Supervisor
        -   GIS & Data Base Manager
        -   Senior Surveyor
        -   Mining Manager
        -   Senior Mine Engineer
        -   Mill Superintendent
        -   Logistics Manager
        -   Power Plant Superintendent
        -   Engineering Manager
        -   Project Controller
        -   Manager Procurement Services
        -   Purchasing Officer

    Exploration and Development Drilling

    The Sukari Resource Model was upgraded during the quarter.

    -------------------------------------------------------------------------
               Total Resource (February 2007 - Global All Data)
    -------------------------------------------------------------------------
                                               Total
                                           (Measured and
               Measured    Indicated         Indicated)         Inferred
             ----------------------------------------------------------------
    Cut-off   Mt     g/t   Mt     g/t    Mt     g/t   Moz   Mt     g/t   Moz
    -------------------------------------------------------------------------
      0.5    47.39  1.40  73.98  1.39  121.37  1.39  5.42  52.80  1.70  2.84
    -------------------------------------------------------------------------
      0.7    34.44  1.70  53.45  1.69   87.89  1.69  4.78  38.60  2.10  2.57
    -------------------------------------------------------------------------
      1.0    22.40  2.16  34.36  2.16   56.76  2.16  3.94  25.90  2.70  2.25
    -------------------------------------------------------------------------
    

    The resource estimate was calculated by Hellman and Schofield Pty Ltd
("H&S") and is an estimate of recoverable tonnes and grade using Multiple
Indicated Kriging with block support correction. Measured resources exist in
areas where drilling is available at a nominal 25 x 25 metre spacing,
Indicated resources occur in areas drilled at approximately 25 x 50 metre
spacing and Inferred resources exist in areas of broad spaced drilling. The
resource model extends from 9700mN to 12200mN and to a maximum depth of 500RL
(a maximum depth of 800 metres below surface). The estimate has been adjusted
to present land surfaces and previous underground mining.
    It was based on 168,000 metres of drilling from 817 diamond and RC drill
holes which comprises of 88,421 two metre down hole composites and surface
rock chip samples.
    Drilling in the Ra, Gazelle and Pharaoh Zones (10700N - 11900N) continued
to intersect high grade mineralization. This further emphasizes that the
initial mineralized zones encountered in Amun and the southern part of Ra
continue through to northern Ra and Gazelle and then on to the northern
Pharaoh zone. The following new intersections show the extensiveness of the
mineralization encountered in this quarter alone.

    
    Ra - Gazelle Zones

    -   RCD421 - 120m @ 1.98g/t from 595m (incl. 1m @ 102g/t from 611m)
    -   RCD422 - 32m @ 1.57g/t from 501m (incl. 1m @ 28.6g/t Au)
    -   RCD427 - 2m @ 94g/t Au from 791m
    -   RCD454 - 40m @ 8.65g/t Au from 523m, incl. 1m @ 189g/t from
                 528m
    -   RCD530 - 34m @ 1.10g/t from 554m; 17m @ 2.04g/t from 646m and
                 83m @ 1.02g/t from 717m
    -   RCD708 - 50m @ 1.90g/t Au from 351m and 23m @ 4.30g/t from 556m
    -   RCD720 - 25m @ 1.36g/t Au from 231m and 8m @ 2.30g/t Au from
                 320m
    -   RCD726 - 7m @ 5.15g/t Au from 470m and 40m @ 1.45g/t Au from
                 531m
    -   RCD735 - 21m @ 1.04g/t Au from 90m; 20m @ 2.05g/t from 317m;
                 14m @ 2.15g/t Au from 351m;
                 30m @ 1.33g/t Au from 595m and 28.6m @ 10.54g/t Au
                 from 658.4m
    -   D817   - 9m @ 6.33g/t Au from 345m; 3m @ 47.29g/t Au from 485m
                 and 24m @ 1.39g/t from 547m
    -   D856   - 21m @ 2.25g/t Au from 36m and 28m @ 4.62g/t from 63m
                 (incl. 2m @ 39.05g/t from 73m)
    -   D896   - 31m @ 1.69g/t Au from 250m and 11m @ 11.71g/t Au from
                 646m

    Pharaoh Zone ((greater than)11200N)

    -   RCD574 - 30m @ 16.9g/t Au from 488m (incl. 1m @ 410g/t from
                 501m)
    -   RCD741 - 138m @ 1.35g/t Au from 601m
    -   RCD766 - 28m @ 1.48g/t Au from 39m
    -   RCD771 - 14m @ 2.50g/t Au from 5m and 11m @ 1.17g/t Au from
                 105m
    -   RCD776 - 42m @ 1.32g/t Au from 63m
    -   RCD779 - 29m @ 1.02g/t Au from 72m
    -   RCD783 - 20m @ 1.69g/t Au from 1m
    -   RCD784 - 73m @ 1.58g/t Au from 3m
    -   RCD787 - 62m @ 1.27g/t Au from 0m
    -   D827   - 29m @ 1.50g/t from 50m
    -   D842   - 21m @ 1.73g/t Au from 31m

    The main areas of significant resource increase were:

    -   11000N - 11150N - reflects the strong assays and significant widths
        of mineralisation intersected by holes that have tested and defined
        the strike extension of the Main and Hapi zones from the Amun zone.
        This zone was first intersected by hole RCD553 and has subsequently
        been followed up with holes, 660, 703, 710, 699, 726, 427, 421, 729,
        733, 720, 735, 817 and 708.

    -   11600N - 12000N Assays from infill drill holes in this area confirmed
        the near surface mineralisation, as well as continuing to identify
        deeper structures, with a high proportion of the resource now
        classified as measured and indicated resources.
    

    Ra - Gazelle Zone (10700 - 11200N)

    Drilling focused on moving northwards through the Ra and Gazelle zones
into the Pharaoh zone, testing the strike continuity of the Main and Hapi
mineralisation zones at depth, other stacked quartz vein - shear zones and
associated stockwork mineralisation. The Main and Hapi zones continue to be
successfully intersected, proving continuity of the mineralisation from the
far south in the Amun Zone, to the northern extent of the deep drilling
currently underway.
    RCD454 on 10950N intersected 40m @ 8.65g/t Au from 523m, correlating well
to intersections in 703 and D307, near the steep porphyry HW contact.

    Pharaoh Zone ((greater than)11200N)

    Holes 696, 698, 751, 745 and 746 were drilled from section 11225N to
11425N to test the strike extension of the Hapi and Main zone mineralisation
intersected to the south, including the very encouraging broad mineralisation
intersected in holes 896 and 530 on 11200N (Table 3). The holes have
intersected these projected zones and other stacked zones, indicated by
strongly sericite-clay-silica altered porphyry, intense quartz veining,
sulphide mineralisation, some visible gold and areas of intense shearing.
Assay results are awaited.
    Surface mineralisation continued to be intersected in the Pharaoh zone
north of 11500N proving continuity to the far north of the hill. A strong
surface zone is particularly evident from 11900 - 12000N corresponding to the
NE striking quartz reef previously mapped and rock chip sampled with strong
assays.
    Recent drilling has continued to intersect the mineralised zones along
strike and with infill drilling on section, the next resource update due early
in May should produce a significant increase.
    A copy of this press release with graphics relating to drilling at the
Sukari Gold Project and cash flows of the Company during the quarter ended
March 31, 2007 will be posted on the Company's website.

    For Centamin Egypt Limited

    (signed)
    Josef El-Raghy
    Managing Director/CEO
    26 April 2007

    Information in this report which relates to exploration, geology,
sampling and drilling is based on information compiled by geologist Mr R 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 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.

    
                 Significant Intersections March 2007 Quarter

    -------------------------------------------------------------------------
     HOLE   NORTH    EAST   DIP    AZI   EOH     FROM     TO    INT      Au
                                         (m)                           (g/t)
    -------------------------------------------------------------------------
    RCD421  11125   10770   -90     0   815.4     595     715   120     1.98
    -------------------------------------------------------------------------
                                        incl.     611     612     1   102.00
    -------------------------------------------------------------------------
                                        incl.     615     616     1     6.17
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD422  11175   10647   -88   270     737     427     431     4     1.16
    -------------------------------------------------------------------------
                                                  484     493     9     1.13
    -------------------------------------------------------------------------
                                                  501     533    32     1.57
    -------------------------------------------------------------------------
                                        incl.     508     509     1    28.60
    -------------------------------------------------------------------------
                                                  559     563     4     1.06
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD423  11200   10577   -88   270   580.9     490     495     5     1.48
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD427  11075   10694   -88   270   841.5     388     404    16     1.01
    -------------------------------------------------------------------------
                                                  408     432    24     0.79
    -------------------------------------------------------------------------
                                                  528     550    22     1.42
    -------------------------------------------------------------------------
                                                  560     567     7     1.35
    -------------------------------------------------------------------------
                                                  586     609    23     0.92
    -------------------------------------------------------------------------
                                                  661     666     5     1.47
    -------------------------------------------------------------------------
                                                  791     793     2    94.00
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD454  10950   10665   -82   270   721.5     508     519    11     2.68
    -------------------------------------------------------------------------
                                        incl.     513     514     1     6.08
    -------------------------------------------------------------------------
                                                  523     563    40     8.65
    -------------------------------------------------------------------------
                                        incl.     528     529     1   189.00
    -------------------------------------------------------------------------
                                        incl.     537     538     1    20.20
    -------------------------------------------------------------------------
                                        incl.     544     545     1     13.8
    -------------------------------------------------------------------------
                                                  571     576     5     1.82
    -------------------------------------------------------------------------
                                        incl.     575     576     1     6.04
    -------------------------------------------------------------------------
                                                  584     590     6     1.03
    -------------------------------------------------------------------------
                                                  645     648     3     1.37
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD461  11025   10655   -85   270   762.3   647.4     650   2.6     3.57
    -------------------------------------------------------------------------
                                                  656     670    14     1.63
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD530  11200   10900   -75   270   805.3     554     588    34     1.10
    -------------------------------------------------------------------------
                                        incl.     583     584     1     9.24
    -------------------------------------------------------------------------
                                                  646     663    17     2.04
    -------------------------------------------------------------------------
                                        incl.     662     663     1     21.5
    -------------------------------------------------------------------------
                                                  717     800    83     1.02
    -------------------------------------------------------------------------
                                        incl.     762     775    13     2.57
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD574  11300   10678   -70   270   545.5     488     518    30    16.90
    -------------------------------------------------------------------------
                                        incl.     501     502     1   410.00
    -------------------------------------------------------------------------
                                        incl.     512     513     1    19.30
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD708  11150   10955   -75   270   709.6     155     160     5     1.65
    -------------------------------------------------------------------------
                                        incl.     168     169     1     6.41
    -------------------------------------------------------------------------
                                                  168     176     8     1.13
    -------------------------------------------------------------------------
                                                  181     185     4     1.81
    -------------------------------------------------------------------------
                                                  195     208    13     1.36
    -------------------------------------------------------------------------
                                                  263     266     3     1.09
    -------------------------------------------------------------------------
                                                  351     361    10     1.90
    -------------------------------------------------------------------------
                                        incl.     358     359     1    10.80
    -------------------------------------------------------------------------
                                                  385     435    50     1.13
    -------------------------------------------------------------------------
                                        incl.     425     426     1     5.62
    -------------------------------------------------------------------------
                                                  443     448     5     1.54
    -------------------------------------------------------------------------
                                                  456     481    25     0.85
    -------------------------------------------------------------------------
                                                  513     532    19     1.15
    -------------------------------------------------------------------------
                                                  556     579    23     4.30
    -------------------------------------------------------------------------
                                        incl.     567     568     1    28.00
    -------------------------------------------------------------------------
                                        incl.     578     579     1    43.60
    -------------------------------------------------------------------------
                                                  630     647    17     1.19
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD720  11125   10959   -60   270   725.2     146     161    15     1.01
    -------------------------------------------------------------------------
                                                  231     256    25     1.36
    -------------------------------------------------------------------------
                                                  302     315    13     2.03
    -------------------------------------------------------------------------
                                        incl.     306     307     1     8.72
    -------------------------------------------------------------------------
                                                  320     328     8     2.30
    -------------------------------------------------------------------------
                                        incl.     320     321     1     6.05
    -------------------------------------------------------------------------
                                        incl.     327     328     1     7.15
    -------------------------------------------------------------------------
                                                  344     360    16     0.98
    -------------------------------------------------------------------------
                                                  395     403     8     1.37
    -------------------------------------------------------------------------
                                        incl.     402     403     1     7.15
    -------------------------------------------------------------------------
                                                  527     554    27     1.02
    -------------------------------------------------------------------------
                                                  560     564     4     1.43
    -------------------------------------------------------------------------
                                                  587     590     3     1.59
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD726  11050   10662   -85   270     687     343     346     3     1.32
    -------------------------------------------------------------------------
                                                  352     358     6     2.00
    -------------------------------------------------------------------------
                                        incl.     353     354     1     8.21
    -------------------------------------------------------------------------
                                                  372     374     2     1.42
    -------------------------------------------------------------------------
                                                  470     477     7     5.15
    -------------------------------------------------------------------------
                                        incl.     476     477     1     31.8
    -------------------------------------------------------------------------
                                                  497     524    27     0.86
    -------------------------------------------------------------------------
                                                  531     571    40     1.45
    -------------------------------------------------------------------------
                                        incl.     540     541     1     5.41
    -------------------------------------------------------------------------
                                        incl.     544     545     1     6.38
    -------------------------------------------------------------------------
                                        incl.     561     563     2     7.11
    -------------------------------------------------------------------------
                                                  665     667     2    61.35
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD729  11150   10633   -87   270   816.9     369     373     4     1.90
    -------------------------------------------------------------------------
                                                  456     460     4     1.19
    -------------------------------------------------------------------------
                                                  569     589    20     0.95
    -------------------------------------------------------------------------
                                        incl.     582     583     1     6.51
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD732  11100   10783   -80   270     501     150     152     2     1.55
    -------------------------------------------------------------------------
                                                  171     175     4     4.86
    -------------------------------------------------------------------------
                                         incl.    173     175     2     9.24
    -------------------------------------------------------------------------
                                                  208     216     8     1.65
    -------------------------------------------------------------------------
                                         incl.    215     216     1     9.52
    -------------------------------------------------------------------------
                                                  223     227     4     1.03
    -------------------------------------------------------------------------
                                                  231     233     2     1.57
    -------------------------------------------------------------------------
                                                  277     286     9     1.18
    -------------------------------------------------------------------------
                                                  296     318    22     1.39
    -------------------------------------------------------------------------
                                                  324     347    23     1.30
    -------------------------------------------------------------------------
                                                  354   357.1   3.1     3.20
    -------------------------------------------------------------------------
                                        incl.   356.7   357.1   0.4    22.00
    -------------------------------------------------------------------------
                                                  361     374    13     1.31
    -------------------------------------------------------------------------
                                        incl.     365     366     1     5.21
    -------------------------------------------------------------------------
                                                  381     393    12     2.70
    -------------------------------------------------------------------------
                                        incl.     390     393     3     7.46
    -------------------------------------------------------------------------
                                                  425     428     3     8.60
    -------------------------------------------------------------------------
                                                  496     500     4     1.84
    -------------------------------------------------------------------------
                                                  532     535     3     1.26
    -------------------------------------------------------------------------
                                                  547     550     3     2.26
    -------------------------------------------------------------------------
                                                  556     582    26     1.14
    -------------------------------------------------------------------------
                                                  753     779    26     0.98
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD734  11200   10576   -55   270   281.6     129     136     7     1.14
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD735  11150   10724   -89   270   776.2      79      84     5     3.49
    -------------------------------------------------------------------------
                                        incl.      79      80     1    12.30
    -------------------------------------------------------------------------
                                                   90     111    21     1.04
    -------------------------------------------------------------------------
                                                  210     227    17     1.05
    -------------------------------------------------------------------------
                                                  235     236     1    20.00
    -------------------------------------------------------------------------
                                                  242     245     3     1.04
    -------------------------------------------------------------------------
                                                  307     310     3     1.17
    -------------------------------------------------------------------------
                                                  317     337    20     2.05
    -------------------------------------------------------------------------
                                        incl.     333     334     1     9.24
    -------------------------------------------------------------------------
                                                  351     365    14     2.15
    -------------------------------------------------------------------------
                                        incl.     357     358     1     5.39
    -------------------------------------------------------------------------
                                                  370     412    42     1.53
    -------------------------------------------------------------------------
                                        incl.     376     377     1    17.30
    -------------------------------------------------------------------------
                                                  453     455     2     1.98
    -------------------------------------------------------------------------
                                                  485     499    14     0.96
    -------------------------------------------------------------------------
                                                  504     506     2     3.82
    -------------------------------------------------------------------------
                                                  543     551     8     1.24
    -------------------------------------------------------------------------
                                                  575     582     7     1.74
    -------------------------------------------------------------------------
                                        incl.     577     578     1     5.41
    -------------------------------------------------------------------------
                                                  595     625    30     1.33
    -------------------------------------------------------------------------
                                        incl.     614     617     3     5.54
    -------------------------------------------------------------------------
                                                658.4     687  28.6    10.54
    -------------------------------------------------------------------------
                                        incl.     661     662     1    35.10
    -------------------------------------------------------------------------
                                        incl.     669     670     1   142.00
    -------------------------------------------------------------------------
                                        incl.     679     680     1    45.00
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD741  11325   10728   -90     0   809.3     210     216     6     1.09
    -------------------------------------------------------------------------
                                                  392     397     5     1.69
    -------------------------------------------------------------------------
                                                  416     422     6     1.52
    -------------------------------------------------------------------------
                                                  426     430     4     1.58
    -------------------------------------------------------------------------
                                                  601     739   138     1.35
    -------------------------------------------------------------------------
                                                  609     618     9     1.51
    -------------------------------------------------------------------------
                                                  633     646    13     1.77
    -------------------------------------------------------------------------
                                        incl.     634     636     2     5.44
    -------------------------------------------------------------------------
                                                  650     675    25     1.63
    -------------------------------------------------------------------------
                                        incl.     663     665     2     6.23
    -------------------------------------------------------------------------
                                        incl.     668     669     1     6.01
    -------------------------------------------------------------------------
                                                  679     684     5     1.15
    -------------------------------------------------------------------------
                                                  690     739    49     1.83
    -------------------------------------------------------------------------
                                        incl.     696     697     1    20.10
    -------------------------------------------------------------------------
                                        incl.     725     728     3     5.81
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD745  11325   10645   -80   270   711.2     426     430     4     1.43
    -------------------------------------------------------------------------
                                                  500     505     5     1.24
    -------------------------------------------------------------------------
                                                  584     591     7     1.32
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD746  11375   10653   -90     0   743.3     194     196     2     1.05
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D757  10750   10485   -45   270  129.72      73      78     5     8.34
    -------------------------------------------------------------------------
                                        incl.      74      75     1    33.00
    -------------------------------------------------------------------------
                                                   84      99    15     0.90
    -------------------------------------------------------------------------
                                                  104     114    10     1.81
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD760  11575   10725   -90     0     150       4       9     5     6.07
    -------------------------------------------------------------------------
                                        incl.       5       6     1    26.80
    -------------------------------------------------------------------------
                                                   25      27     2     1.64
    -------------------------------------------------------------------------
                                                   47      53     6     1.30
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD761  11600   10750   -90     0     150      23      29     6     0.69
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D762  11150   10632   -50   270   342.6     263     279    16     1.90
    -------------------------------------------------------------------------
                                        incl.     266     270     4     5.15
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD764  11550   10655   -60   270     150      19      25     6     1.26
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD766  11575   10685   -87   270     150      39      67    28     1.48
    -------------------------------------------------------------------------
                                        incl.      43      44     1     6.20
    -------------------------------------------------------------------------
                                        incl.      54      55     2     6.44
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD768  11600   10691   270   -62     150       0      15    15     0.68
    -------------------------------------------------------------------------
                                                   89     111    22     1.05
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD769  11625   10683   -60   270     150       9      18     9     1.06
    -------------------------------------------------------------------------
                                                  138     140     2     3.91
    -------------------------------------------------------------------------
                                        incl.     138     139     1     7.29
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD771  11625   10684   -90     0     150       5      19    14     2.50
    -------------------------------------------------------------------------
                                        incl.       6       7     1     5.02
    -------------------------------------------------------------------------
                                        incl.      10      11     1    12.10
    -------------------------------------------------------------------------
                                                   24      26     2     1.50
    -------------------------------------------------------------------------
                                                   34      41     7     1.20
    -------------------------------------------------------------------------
                                                   64      66     2     3.40
    -------------------------------------------------------------------------
                                                  105     116    11     1.17
    -------------------------------------------------------------------------
                                        incl.     110     111     1     5.29
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD774  11670   10763   -90     0      59       0       8     8     2.26
    -------------------------------------------------------------------------
                                                   24      27     3     1.99
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D775  11225   10705   -50   270  165.05      34      36     2     1.78
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD776  11725   10767   -90   270     150       7      23     10    1.35
    -------------------------------------------------------------------------
                                                   29      33      4    2.92
    -------------------------------------------------------------------------
                                        incl.      30      31      1    6.65
    -------------------------------------------------------------------------
                                                   50      59      9    0.93
    -------------------------------------------------------------------------
                                                   63     105     42    1.32
    -------------------------------------------------------------------------
                                        incl.      74      75      1    8.35
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D777  10950   10432   -88   270   90.22       7      17    10     1.80
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD778  11825   10895   -75   270     113      56      69    13     1.42
    -------------------------------------------------------------------------
                                        incl.      62      63     1     5.93
    -------------------------------------------------------------------------
                                                   76     112    36     0.87
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD779  11800   10842   -90     0     150       2       5     3     1.07
    -------------------------------------------------------------------------
                                                    9      12     3     1.62
    -------------------------------------------------------------------------
                                                   18      24     6     1.14
    -------------------------------------------------------------------------
                                                   72     101    29     1.02
    -------------------------------------------------------------------------
                                        incl.      88      89     1     6.50
    -------------------------------------------------------------------------
                                                  106     108     2     1.28
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD781  11625   10782   -90     0     128      39      41     2     1.10
    -------------------------------------------------------------------------
                                                   58      68    10     1.48
    -------------------------------------------------------------------------
                                        incl.      61      62     1     8.12
    -------------------------------------------------------------------------
                                                  116     118     2     2.42
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD782  11825   10969   -65   270   569.6     183     189     6     2.06
    -------------------------------------------------------------------------
                                        incl.     187     188     1     5.56
    -------------------------------------------------------------------------
                                                  241     243     2     1.77
    -------------------------------------------------------------------------
                                                  251     254     3     1.09
    -------------------------------------------------------------------------
                                                  341     344     3     1.57
    -------------------------------------------------------------------------
                                                  466     469     3     1.15
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
     RC783  11925   10810   -90   270     150       1      21    20     1.69
    -------------------------------------------------------------------------
                                        incl.      14      15     1     8.31
    -------------------------------------------------------------------------
                                                   43      46     3     1.03
    -------------------------------------------------------------------------
                                                   51      53     2     1.03
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD784  11925   10810   -56   270     150       3      76    73     1.58
    -------------------------------------------------------------------------
                                        incl.       8       9     1     6.29
    -------------------------------------------------------------------------
                                        incl.      12      13     1     24.7
    -------------------------------------------------------------------------
                                        incl.      18      21     3     7.31
    -------------------------------------------------------------------------
                                        incl.      24      25     1     5.02
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD785  11275   10861   -90     0     150     110     119     9     1.12
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD786  11675   10812   -90     0      74       1       7     6     1.74
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD787 11975    10825   -63   270     150       0      62    62     1.27
    -------------------------------------------------------------------------
                                        incl.       2       3     1     5.48
    -------------------------------------------------------------------------
                                                   49      50     1     7.55
    -------------------------------------------------------------------------
                                                  139     142     3     1.18
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD788  11975   10825   -90     0     150       0      15    15     1.97
    -------------------------------------------------------------------------
                                                  104     108     4     2.07
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D790  11225   10705    -5   270   268.3     116     119     3     2.10
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD799  12125   10828   -90     0     119       0       9     9     1.09
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD805  11525  10822    -85   270     150      97     106     9     1.51
    -------------------------------------------------------------------------
                                                  118     120     2     1.08
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD811  11300   10687   -55   270   512.3     336     341     5     1.43
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D817  11150   10730   -85   270   785.2      20      29     9     1.04
    -------------------------------------------------------------------------
                                                   82      93    11     1.12
    -------------------------------------------------------------------------
                                                  101     113    12     0.88
    -------------------------------------------------------------------------
                                        incl.     107     110     3     1.72
    -------------------------------------------------------------------------
                                                  166     169     3     1.27
    -------------------------------------------------------------------------
                                                  334     337     3     1.55
    -------------------------------------------------------------------------
                                                  345     354     9     6.33
    -------------------------------------------------------------------------
                                        incl.     347     352     5    10.21
    -------------------------------------------------------------------------
                                                  369     371     2     1.23
    -------------------------------------------------------------------------
                                                  383     387     4     1.72
    -------------------------------------------------------------------------
                                        incl.     386     387     1     5.96
    -------------------------------------------------------------------------
                                                  422     427     5     1.59
    -------------------------------------------------------------------------
                                                  434     436     2     3.97
    -------------------------------------------------------------------------
                                                  442     445     3     1.80
    -------------------------------------------------------------------------
                                                  485     488     3    47.29
    -------------------------------------------------------------------------
                                       incl.      487     488     1   138.00
    -------------------------------------------------------------------------
                                                  547     571    24     1.39
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D827  11750   10835   -75   270   162.3      50      79    29     1.50
    -------------------------------------------------------------------------
                                        incl.      54      61     7     3.93
    -------------------------------------------------------------------------
                                                   99     102     3     2.42
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD831  10850   10660   -85   270     150      67      97    30     2.39
    -------------------------------------------------------------------------
                                        incl.      91      92     1     5.36
    -------------------------------------------------------------------------
                                        incl.      96      97     1     18.2
    -------------------------------------------------------------------------
                                                  115     125    10     1.15
    -------------------------------------------------------------------------
                                                  145     150     5     1.20
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD832  10900  10735    -78   270     150      11      16     5     1.96
    -------------------------------------------------------------------------
                                        incl.      15      16     1     5.31
    -------------------------------------------------------------------------
                                                   30      35     5     1.70
    -------------------------------------------------------------------------
                                                   47      51     4     2.64
    -------------------------------------------------------------------------
                                        incl.      48      49     1     5.65
    -------------------------------------------------------------------------
                                                   61     110    49     1.09
    -------------------------------------------------------------------------
                                        incl.      65      66     1     5.77
    -------------------------------------------------------------------------
                                        incl.      84      85     1     6.40
    -------------------------------------------------------------------------
                                                  118     125     7     1.95
    -------------------------------------------------------------------------
                                                  133     141     8     1.19
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD833  10800   10743   -80   270     150      88      91     3     1.13
    -------------------------------------------------------------------------
                                                   96     113    17     1.69
    -------------------------------------------------------------------------
                                        incl.     108     109     1     9.34
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    RCD834  10750   10646   -85   270     150       9      24    15     3.40
    -------------------------------------------------------------------------
                                        incl.      12      13     1     7.45
    -------------------------------------------------------------------------
                                        incl.      23      24     1    30.00
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D842  11725   10804   -90     0   304.3      10      15     5     1.04
    -------------------------------------------------------------------------
                                                   31      52    21     1.73
    -------------------------------------------------------------------------
                                        incl.      33      34     1    10.10
    -------------------------------------------------------------------------
                                                  175     178     3     4.04
    -------------------------------------------------------------------------
                                        incl.     177     178     1    10.30
    -------------------------------------------------------------------------
                                                  206     215     9     1.44
    -------------------------------------------------------------------------
                                                  225     230     5     1.08
    -------------------------------------------------------------------------
                                                  271     301    30     0.89
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D845  11850   10910   -87   270  108.92      51      65    14     1.23
    -------------------------------------------------------------------------
                                        incl.      58      59     1     6.24
    -------------------------------------------------------------------------
                                                   92      98     6     1.37
    -------------------------------------------------------------------------
                                                  103  108.92  5.92     0.96
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    D856    11175   10604   -50   270   328.5      36      57    21     2.25
    -------------------------------------------------------------------------
                                        incl.      54      56     2    13.83
    -------------------------------------------------------------------------
                                                   63      91    28     4.62
    -------------------------------------------------------------------------
                                        incl.      73      75     2    39.05
    -------------------------------------------------------------------------
                                        incl.      89      90     1     6.34
    -------------------------------------------------------------------------
                                                  159     162     3     1.22
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D860  11775   10800   -87   270  281.92       7       9     2     1.36
    -------------------------------------------------------------------------
                                                   19      21     2     2.27
    -------------------------------------------------------------------------
                                                   82      84     2     4.42
    -------------------------------------------------------------------------
                                                   97     102     5     1.57
    -------------------------------------------------------------------------
                                                  107     109     2     1.27
    -------------------------------------------------------------------------
                                                  117     136    19     1.24
    -------------------------------------------------------------------------
                                                  259     263     4     1.48
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D896  11200   10903   -60   270   676.5      23      26     3     1.36
    -------------------------------------------------------------------------
                                                   82      87     5     1.35
    -------------------------------------------------------------------------
                                                  103     108     5     1.02
    -------------------------------------------------------------------------
                                                  250     281    31     1.69
    -------------------------------------------------------------------------
                                        incl.     258     260     2     8.81
    -------------------------------------------------------------------------
                                                  298     307     9     1.08
    -------------------------------------------------------------------------
                                                  364     394    30     0.84
    -------------------------------------------------------------------------
                                                  407     421    14     1.05
    -------------------------------------------------------------------------
                                                  489     586    97     0.93
    -------------------------------------------------------------------------
                                        incl.     568     572     4     4.77
    -------------------------------------------------------------------------
                                                  606  611.25  5.25     2.06
    -------------------------------------------------------------------------
                                        incl.     606     607     1     5.07
    -------------------------------------------------------------------------
                                                  646     657    11    11.71
    -------------------------------------------------------------------------
                                        incl.     654     656     2    57.80
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D910  11775   10805   -55   270  351.72      27      31     4     2.18
    -------------------------------------------------------------------------
                                                   41      49     8     0.96
    -------------------------------------------------------------------------
                                                   80      84     4     1.21
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
      D925  11125   10637   -77   270  557.89      79      83     4     1.34
    -------------------------------------------------------------------------
                                                    1       8     7     1.07
    -------------------------------------------------------------------------

      Intersections based on Composite and Single Sample CUG of 0.5g/t;
                            Max Internal Waste 3m
    





For further information:

For further information: Centamin Egypt Limited, Ph: + 61 (8) 9316 2640,
Josef El-Raghy (josef@centamin.com.au), www.centamin.com; Bishopsgate
Communications Ltd, + 44 (0) 20 7562 3350, Maxine Barnes, Nick Rome,
www.bishopsgatecommunications.com

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