Simberi Mining Corporation
TSX VENTURE : SAU

Simberi Mining Corporation

November 19, 2007 11:45 ET

Simberi Grants Further Extension to Amari for Due Diligence Investigations

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2007) - Simberi Mining Corporation ("Simberi"), (TSX VENTURE:SAU) announces today that it has agreed to further extend by an additional 60 days, the due diligence period set out in clause 3.5 of the Earn-In Agreement with Amari Holdings Ltd ("Amari"). Amari has requested this further extension due to a delay of the Commission of the Democratic Republic of the Congo ("Commission"). Amari is awaiting the final report by the Commission that has reviewed mining licenses in the Congo. The Commission has presented its report that confirms Simberi's rights to the Kakanda tailings and both North and South deposits. Amari will now have a total of 180 days from the date of the initial agreement to complete its due diligence investigations.

About Simberi:

Simberi is a junior resource company focused on the exploration and acquisition of developed low cost precious and base metal projects internationally. The company's main exploration project is the Kakanda Project copper/cobalt project in that Democratic Republic of the Congo. On site exploration of this project is being managed by Amari Holdings Simberi's joint venture partner. Simberi is also involved in several joint venture projects in Australia; Lambina, Mt. Sarah and Mt. Narlee primarily in the G-2 corridor within the Gawler Craton in South Australia that is the host for the copper/uranium/gold Olympic Dam type deposits.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.

Neither the TSX Venture Exchange, nor any other securities regulatory authority has approved or disapproved of the contents of this news release.

Contact Information