Announcement to the Australian Securities Exchange and Toronto Stock Exchange

    Masbate Gold Project
    Mobilisation of Primary Construction Contractor

    PERTH, Western Australia, Oct. 26 /CNW/ - The Board of CGA Mining Limited
("CGA", "the Company") and Phil. Gold Processing and Refining Corp. ("PGPRC")
are pleased to announce the commencement of on site work at the Masbate Gold
Project in the Philippines.

    Principal Contractor

    Leighton Contractors Philippines ("LCP") have mobilised an extensive
earthmoving equipment fleet, concrete batch plant and ancillary equipment
including portable office accommodation to the project site on the island of
Masbate. The equipment was transported using the LCP owned barge from a nearby
site where LCP had previously completed a similar project.

    All equipment was unloaded via the Company owned jetty (existing from
previous operations and owned by Filminera Resources Corporation) and
immediately put to work clearing the designated process plant site.

    To date the following activities have commenced:

    -   process plant earthworks;

    -   contractors office erection;

    -   contractors Philippine Nationals accommodation and utilities; and

    -   concrete batch plant erection.

    A selection of photographs illustrating the progress to date have been
posted on the CGA website under Projects/Masbate Gold

    Drilling Activities

    A diamond drill and a reserve circulation drill were mobilised at site
during September to carry out respectively, a detailed geotechnical drill
program at the process plant site and a sterilisation program at the process
plant site, waste dump areas and the proposed tailings storage facility.
    The geotechnical drill program and analysis is complete, and the report
compiled by an independent Philippine consultant is presently being assessed.
Lycopodium will incorporate the findings of the report in the design of the
foundations for the high load bearing installations in the process plant.
    The sterilisation program continues over the areas set aside for waste
storage and tailings deposition. The drilling within the process plant site
has confirmed the suitability of location for the plant site.

    %SEDAR: 00021775E

For further information:

For further information: Australian Contact: President & CEO - Michael
Carrick, Tel: +61 8 9263 4000, Fax: +61 8 9263 4020, Email:; US Contact: Chairman - Mark Savage, Tel: (505)
344-2822, Fax: (505) 344-2922, Email:

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CGA Mining Limited

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