Centamin Egypt Limited Announces Closing of Bought Deal Offering


    TORONTO, Feb. 10 /CNW/ - Centamin Egypt Limited ("Centamin" or the
"Company") (TSX:CEE, AIM:CEY, ASX:CNT) is pleased to announce that it has
successfully closed the previously announced "bought deal" offering (the
"Offering") of ordinary shares. The Company has sold to Thomas Weisel Partners
Canada Inc. and Cormark Securities Inc., as underwriters, (the "Underwriters")
106,154,200 ordinary shares, of which 13,846,200 ordinary shares were issued
pursuant to the exercise in full on the closing date of the over-allotment
option granted to the Underwriters, at Cdn$0.65 per share to raise gross
proceeds of Cdn$69,000,230.
    Centamin intends to use the net proceeds of the Offering for the
completion of the development and construction of the Sukari Project;
underground development; other exploration; and general corporate and working
capital purposes.

    The securities being offered have not, nor will they be registered under
the United States Securities Act of 1933, as amended, and may not be offered
or sold within the United States or to, or for the account or benefit of, U.S.
persons absent U.S. registration or an applicable exemption from the U.S.
registration requirements. This release does not constitute an offer for sale
of securities in the United States.

    Cautionary Statement

    This press release may include forward looking statements within the
meaning of securities laws. Forward looking statements involve certain risks
and uncertainties, such as market conditions and global political
uncertainties, that could cause actual results to differ materially from what
is currently contemplated. The Company disclaims any intention or obligation
to update any forward-looking statement even if new information becomes
available as a result of future events or for any other reason, except to the
extent required by applicable law. For a more detailed discussion of such
risks and other factors, refer to the Company's filings with the Canadian
securities regulators available at www.sedar.com.

For further information:

For further information: Centamin Egypt Limited, Josef El-Raghy, + 61
(8) 9316 2640, Email: centamin@centamin.com.au, Website: www.centamin.com.au

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