Centamin Egypt Limited
TSX : CEE
AIM : CEY
ASX : CNT

Centamin Egypt Limited

April 29, 2008 10:41 ET

Centamin Egypt Reports on Activities in the Quarter Ended March 31, 2008

TORONTO, ONTARIO--(Marketwire - April 29, 2008) - Centamin Egypt Limited ("Centamin" or "the Company") (TSX:CEE)(ASX:CNT)(AIM:CEY) is providing the following report on its activities in the quarter ended March 31, 2008.

Highlights

- Sukari mineral resource upgraded to 8.12 million ounces of gold Measured and Indicated, plus 3.5 million ounces of gold Inferred at 0.5 g/t cut off grade

- Measured and Indicated resources account for 70% of the total resource

- An increase of 660,000oz Measured and Indicated ounces above the mineral resource announced in December 2007

- Amun Deeps discovery continues to add significant high grade ounces

- 22,430m of drilling completed during the quarter

- Follow up regional exploration drilling at Kurdeman returned significant assay results

- Appointment of Underground Mine Manager

- Process plant site civil works complete using owner mining fleet

- Process plant refurbishment commences on site

- Initial concrete poured in process plant site area

- Sea water pipeline commenced

- Tailings storage facility (TSF) earth works commence

- Drilling continues with 8 rigs on site

- Employees and contractors exceed 600

- Significant intersections received for the quarter include:



Amun Deeps (9900N - 10700N)

- D1280 - 35m @ 164.09g/t Au (including 1m @ 5,420g/t Au)
- D1328 - 19m @ 8.03g/t Au and 72m @ 2.36g/t Au
- D1308 - 11m @ 12.90g/t Au
- D1307 - 19m @ 5.31g/t Au
- D1298 - 19m @ 3.73g/t Au
- D1295 - 16m @ 3.44g/t Au
- D1301 - 51m @ 2.04g/t Au
- D1306 - 86m @ 1.91g/t Au

Kurdeman Prospect

- KRC007 - 17m @ 3.81g/t Au
- KRC011 - 8m @ 7.76g/t Au
- KRC014 - 2m @ 26.59g/t Au
- KRC015 - 2m @ 34.69g/t Au


RESOURCE ESTIMATION AND DRILLING PROGRAMME

In the March quarter, the Sukari Mineral Resource was upgraded to 8.12 Moz Measured and Indicated, plus 3.5 Moz Inferred at a 0.5g/t cut off grade. The Measured and Indicated Mineral Resource has increased by 660,000 oz, approximately 9% to 8.12 Moz from 7.46 Moz (19 December 2007) showing the effectiveness of the infill drilling programme (Table 1). Measured and Indicated resources account for 70% of total resource. Resource growth at Sukari occurred within the Amun Deeps from 9900N to 10700N, testing the Hapi Zone and deeper, sub-parallel mineralized structures.



Table 1 - March 2008 Resource Calculation

----------------------------------------------------------------------------

Measured Indicated Total Inferred
(Measured +
Indicated)

----------------------------------------------------------------------------
Cut-off Tonnes Grade Tonnes Grade Tonnes Grade Gold Tonnes Grade Gold
g/t Au (Mt) (g/t (Mt) (g/t (Mt) (g/t (Moz) (Mt) (g/t (Moz)
Au) Au) Au) Au)
----------------------------------------------------------------------------
0.50 63.85 1.43 107.84 1.50 171.69 1.47 8.12 63.2 1.7 3.5
----------------------------------------------------------------------------
0.70 46.12 1.75 78.99 1.82 125.11 1.80 7.23 46.7 2.1 3.2
----------------------------------------------------------------------------
1.00 29.94 2.24 52.19 2.33 82.13 2.30 6.07 31.8 2.7 2.8
----------------------------------------------------------------------------
Note to Table: Figures in table may not add correctly due to rounding


To view the Figure 1 - Resource growth at Sukari from April 1997 to March 2008 graph, please visit the following link: http://media3.marketwire.com/docs/Figure1Resource.pdf.

The resources are estimates of recoverable tonnes and grades using Multiple Indicator Kriging ("MIK") with block support correction. Typically, measured resources lie 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 broader spaced drilling. The resource model extends from 9700mN to 12200mN and to an approximate depth of 350mRL (approximately a maximum depth of 950 metres below the crest of the Sukari hill) and is based on all assay data available at 30 March 2008. The sampling from an additional 21,000 metres of drilling (primarily diamond drill core) has been added to the resource sampling data set used in the new mineral resource estimate.

DRILLING PROGRAMME

The drilling programme during the quarter was concentrated in the Amun Deeps area, testing down dip extensions of the Hapi and deeper, sub-parallel mineralisation zones at depth. This resulted in added resource ounces down dip of the current geological data, infilling resource block and geological data gaps at and beneath the pit margins and increased the understanding of the mineralization trends.

Planned drilling will continue to infill and step-out to test the extension of the Hapi Zone and related structures in the Amun Deeps Zone to 11200N. Drilling will re-commence in the Ra/Gazelle and Pharaoh Zones north of 11200N where mineralization is open and requires infill to fully define the Hapi Zone and related high grade structures.

Amun Deeps (9900 - 10700N)

The Amun Deeps system has been intersected over 700m along strike from 9950N, drilling continues to define the extent of the mineralization. Several holes returned strong assays over significant widths (Table 2); most have visible gold in the high grade Hapi Zone quartz veins, strongly disrupted geological contacts and areas of higher intensity arsenopyrite and pyrite mineralisation.

To view Figure 2 - Long section of Sukari map, please visit the following link: http://media3.marketwire.com/docs/Figure2LongSection.pdf

High grade gold intersections returned included hole D1280 at 10550N which intersected spectacular visible gold and galena in a massive quartz vein (558-559m) within highly mineralised porphyry returning 35m @ 164.09g/t Au from 550m (including 1m @ 5,420g/t Au from 558m) (figure 3), This deeper structure sits below the existing Hapi zone and correlates to 6m @ 15.21g/t Au in hole RCD521 from 542m and 22m @ 21.83g/t Au from 549m in hole RCD1221 25m to the south (announced 6 February 2008 and 21 November 2007 respectively).

To view Figure 3 - Geological Section 10550N and hole D1280, please visit the following link: http://media3.marketwire.com/docs/Figure3GeologicalSection.pdf

Infill hole D1328 on section 10125N, intersected a thick unit of moderate to strongly mineralised porphyry beneath the high grade hanging wall contact shear zone, with very high grades associated with semi massive patches of arsenopyrite and pyrite sulphide (19m @ 8.03g/t Au from 292m; including 7m @ 20.58g/t Au from 296m(i)). The Hapi Zone was characterised by a core high grade zone of 4m @ 9.25g/t Au from 335m, within a larger mineralised zone of 72m @ 2.36g/t Au(i) from 317m. Mineralisation was weaker down hole, until a consistent zone of average grade gold near the footwall contact of 24m @ 1.44g/t Au from 461m, in a more sericite altered, fractured and sulphide veined zone of porphyry. The hole defined the steep western contact of the Amun Deeps zone of porphyry beneath the previously known footwall to the main porphyry, highlighting the blocky, faulted nature of the Amun Deeps porphyry unit.

Hole D1301 on section 10375N intersected, including 31m @ 2.84g/t Au(i) from 306m in the Hapi Zone near the hanging wall contact, also strong mineralisation at the footwall zone intersected 51m @ 2.04g/t Au(i) from 404m. D1307 on 10400N, 25 metres to the north returned 19m @ 5.31g/t Au(i) from 422m through the down dip extension of the Hapi Zone.

At the southern end of the Amun Deeps Zone, on section 9950N hole D1308 intersected a thick continuous zone of porphyry with strong mineralisation at the footwall zone returning 11m @ 12.90g/t Au(i) from 419m. On section 10025N hole D1306 returned 86m @ 1.91g/t Au(i) from 390m (incl. 2m @ 18.55g/t Au from 401m).

Notes: (i) Denotes assay intersections previously announced on 08 April 2008.

Ra - Gazelle Zone - 10700N - 11200N

Drilling recommenced in early April, no drilling activity was undertaken in the Ra - Gazelle Zone during the quarter.

REGIONAL EXPLORATION

Regional and near mine exploration continued, drilling at Kurdeman and Sukari North intersected high grade and anomalous gold mineralization results respectively. Follow up drilling, detailed mapping and sampling continued at Sukari North and Kurdeman (Figure 4) and it is planned to continue the regional scale mapping and sampling geochem program in the belt from Sukari North to Kurdeman in the coming quarter.

To view the Figure 4 - Regional map of prospects and the current 160km2 licence area, please visit the following link: http://media3.marketwire.com/docs/Figure4RegionalMap.pdf

Kurdeman

Follow up RC drilling (2,420 metres) from the successful initial 5 hole drill program, detailed mapping and rock chip sampling (750 samples) was completed at the Kurdeman prospect. Drilling targeted the quartz vein - shear zone, which was worked by ancient and colonial miners. Sixteen drill holes (not all results received) were drilled to follow up previous strong assays, trace the southern extensions of the quartz vein - shear zone in fine grained felsic volcanic rocks some 300m to the south and targeted the high grade mineralised structures in the old underground mine workings. Several significant assay results were returned, including hole KRC007 - 17m @ 3.81g/t Au from 111m, hole KRC011 - 8m @ 7.76g/t Au from 77m, KRC014 - 2m @ 26.59g/t Au from 89m and KRC015 - 2m @ 34.69g/t Au from 116m. See Table 2 for other significant assays received to date.

Gold mineralisation in the drilling was predominantly within the fine grained, cherty felsic volcanic unit, associated with the smoky grey, recrystallised quartz vein, fine grained pyrite dusting, carbonate-silica weak sericite alteration halo and moderate shearing. Hole KRC007 confirmed the near vertical extent of the high grade zone intersected in KRC002, indicating at least 100m of vertical extent, for a 5 - 10m wide quartz vein-shear zone.

Sukari North

Assay results have been returned for the RC drilling campaign (1,530 metres) at Sukari North, aimed at testing the main felsic intrusive unit in the area of the workings and gold anomalous rock chip samples, the main mineralised structural trends (East to SE dipping), the rock itself, and the geological contacts with surrounding rocks. Several zones of weak to moderate gold anomalism were detected, associated mainly with zones of strong ankeritic alteration and quartz veining in the felsic intrusive unit, and at contacts to the surrounding sediments and mafic volcanic rocks. The drilling suggests the felsic unit is narrow and surrounded by black shaley sediment, felsic flows, mafic and ultramafic rock units and cut by several felsic and mafic dykes. Further regional mapping and sampling through the area is planned.

Sami South

No significant activity.

GRADE CONTROL

The new Atlas Copco L8 RC grade control drill rig was delivered and commissioned, and training commenced. Grade control drilling continued on available tracks on Sukari Hill within the mine footprint, 3,196m were drilled. Gold mineralisation estimated from grade control modelling corresponds well to expected mineralisation in the resource model; assay results highlight shallow easterly and westerly dipping structures.

UNDERGROUND MINE PLANNING

During the quarter the company successfully filled the position of Underground Mine Manager. Work has now begun on several fronts including the following reviews:



- Geology of the high grade Amun Deeps
- Geotechnical
- Mining method
- Contract mining v Owner Operator
- Capital expenditure estimates
- Infrastructure preparation.


It is the intention to target an initial underground mining rate of 500,000t per annum and the Company will be able to provide further guidance on the progress of the underground mining operation by mid 2008.

SUKARI GOLD PROJECT (CONSTRUCTION UPDATE)

The project schedule has been updated to 31 March 2008, covering all phases of the project. Key completion dates are listed below:



Project Go-Ahead Decision Feb 2007 (Completed)
Kori Kollo Plant Arrives Egypt Q4 2007 (Completed)
28MW Power Station Arrives Q4 2007 (Completed)
Project Finance Q4 2007 (Completed)
Project Engineering & Design Q2 2008 (Commenced)
Site Civil Works Q2 2008 (Commenced)
Seawater Pipeline Q3 2008 (Commenced)
Tailings Storage Facility Q4 2008 (Commenced)
Mining Pre-strip Q3 2008
Commissioning and Production Q1 2009


Progress pictures can be viewed on the Company's website - www.centamin.com.

Kori Kollo Process Plant /28MW Isparta Power Station

On 24 October 2007, the Company announced that both the Kori Kollo processing plant and the Isparta power plant had arrived safely at the Egyptian seaport of Alexandria and their cargoes had been discharged. The dismantling of the Kori Kollo processing facility in Bolivia and the Isparta 28MW power plant in Turkey were completed in September and both sites were closed and signed off. All staff from Bolivia and Turkey have now relocated to Egypt to continue with the reassembly of the plants at Sukari. The Isparta power plant consisted of 24 pieces of break bulk and 56 containers holding more than 900 individual packages. The Kori Kollo processing plant comprised 270 pieces of break bulk and 55 containers.

Trucking of freight to the Sukari site was completed during quarter four of 2007.

The refurbishment program for the Kori Kollo processing plant is underway with sand blasting and undercoating of equipment progressing under the supervision of the Plant Maintenance Manager. Temporary workshops have been erected to accommodate the refurbishment program.

Project Engineering and Design

MetPlant Engineering Services Pty Ltd, an Australian-based company have continued with the engineering and design work for the Process Plant.

Site Works

Activities completed and commenced to the end of the quarter are as follows:



- Upgrading of the 10km access road to the Sukari site (completed)
- Establishment of container and mine lay down and security hut complex
facilities (completed)
- Temporary maintenance, warehousing and fuelling facilities (completed)
- Bulk earthworks for the plant site (completed)
- Crushed ore stockpile reclaim tunnel (commenced)
- Excavation of crusher and power plant foundations (commenced)


A significant amount of rocky outcrops overlaying the plant site area have been removed through the utilisation of the new mining equipment which has facilitated in the training of owner personnel.

The concrete batch plant is schedule for arrival on site during April 2008 (arrived at date of writing) permitting concrete foundation for crusher, CIL tanks, power plant, stockpile reclaim tunnel etc. to progress at an accelerated pace. Due to the late arrival of the batch plant insufficient concrete was poured during Q1 2008 which has led to the process plant commissioning date slipping to Q1 2009.

Tailings Storage Facility

Knight Piesold Pty Ltd has been appointed to carry out the design and construction supervision of the Tailings Storage Facility. Design work is complete and construction of the dam commenced in quarter one 2008 with the bulk earthworks part of the program involving excavation of the embankment and deliveries of gypsum sand to the site which will be the bedding material for the liner. Completion of the tailings dam is scheduled for quarter four 2008.

Seawater Supply System

Construction of the seawater pipeline commenced during the quarter with rock breaking and road works of the pipeline schedule for completion in quarter two. Installation and welding of the HDPE pipe has commenced and is progressing well with just over half the pipe already installed. Pressure testing will commence in April 2008 with the overall program scheduled for completion in Q3 2008.

Work on the seawater wells is due to commence in Q2 2008.

The Seawater Supply System will draw in and transport raw seawater, via a staged pumped pipeline, to the Sukari site where it will be processed through a desalination plant for end use as process plant water, mine site dust suppression water and, after secondary processing and treatment for construction camp drinking water.

Mining Fleet

Caterpillar, through their Egyptian authorised dealer Mantrac, was selected through a competitive tender as the supplier of haulage trucks, articulated dump trucks, excavators, graders and dozers for the project. The initial mining fleet sufficient to commence mining pre-strip work will largely comprise:



CAT 785C Rear Dump Trucks (5)
CAT 785C Water Truck (1)
O&K RH120E Excavator (1)
CAT D10T Dozers (2)
CAT 14H Grader (1)
CAT 16M Grader (1)
CAT 365 BLME Excavator (1)
CAT 988G Wheel Dozers (2)
H180D Rock Breaker (1)


Atlas Copco has been selected to supply grade control and blast hole drilling equipment. Initial fleet selection comprises:



ROC F9 Pioneer Drill (1)
L8 MKII Production Drill (1)
L8 MKII RC Rig (1)


The majority of the initial fleet is on site and already in use for plant site and TSF civil work. Mining pre-strip activity is scheduled to commence in quarter three of 2008.

Project Finance

On 23 November 2007, the Company announced that it had sold on a private basis an aggregate of 112,000,000 special warrants at a price of C$1.20 per special warrant for aggregate gross proceeds of C$134,400,000, which includes the exercise in full by the Underwriters of the Underwriters' option.

The net proceeds of this equity financing are to be applied to fund the continued development of the Sukari Gold Project, underground development, other exploration and general corporate purposes.

The Sukari Gold Project is 100% fully funded through to gold production currently forecast to be the first quarter of 2009. As a result the Company no longer needs to pursue debt financing, has no debt, no hedging and at 31 March 2008, had a cash balance of US$200M.

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 quarter two of 2007 and first gold production expected during the first quarter of 2009.

A definitive feasibility study (the "DFS") for the development to commercial production of the Sukari Gold Project was completed in February 2007.

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.

The Sukari Gold Project will be the first large-scale modern gold mine to be developed in Egypt. Centamin's operating experience in Egypt gives it a significant first-mover advantage in acquiring and developing other gold projects in the prospective Arabian-Nubian Shield.

The Sukari Gold Project is hosted by a large, sheeted vein-type and brittle-ductile shear zone hosted gold deposit developed in a granitoid intrusive complex. Gold mineralization is hosted exclusively by a granitoid body of granodiorite - tonalite composition referred to as the Sukari Porphyry. The Company has entered into a Concession Agreement with the Egyptian Government that provides for exploration and exploitation rights at the Sukari Gold Project and whereby the Operating Company, owned 50% by the Company's wholly owned subsidiary, Pharaoh Gold Mines NL ("PGM") and 50% by Egyptian Mineral Resource Authority ("EMRA"), has been established. Centamin is entitled to recover all of its exploration, operating and capital costs from operating surpluses of the operating company.

The Sukari Mining Licence covers an area of 160 km2 and is for a period of 30 years, with an option for a further 30 years.

The Sukari Gold Project has been scheduled for open pit mining over an initial 15-year period. During that time 78 Mt ore @ 1.5 g/t Au is expected to be mined, producing 3.7 Moz gold. A further 374 Mt of waste material is also expected to be mined resulting in a waste to ore strip ratio of 4.8:1.

Ore and waste will be mined using conventional open pit mining methods. The operation is planned to utilize selective mining techniques to separate ore and waste. Provision has been made for drilling and blasting all primary and oxide materials. 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 the 4 Mtpa Process Plant throughput rate.

Mining will be progressed at an increased rate compared to processing; approximately 5 Mt of ore is expected to be mined and 4 Mt of ore will be processed annually. Operating at an increased mining rate allows the cut off grade for feed to the Plant (referred to as "cutover" grade) to be increased in the early years of the schedule. This in turn increases the metal output and project revenue in these early years, thus increasing the discounted operating surplus cashflow. According to current schedules, the low-grade stockpile produced as a result of applying a cutover grade, will be processed after mining has ceased, extending the current operating life of the project for a further six years. As a result, the average milled grade during the mining period is forecast to be 1.87 g/t Au, compared to 0.66 g/t Au for the low-grade stockpile.

Centamin will own and operate its mining fleet. The production fleet will be based on 380 t class excavators and 150 t class rigid body trucks. At full production, three production fleets, each comprising a single excavator and sharing a maximum of 21 trucks, will be required. The capital cost of the initial mining fleet has been estimated by AMC at US$48.8 million.



The proposed process route entails:

- crushing;
- stockpiling crushed ore;
- grinding;
- flotation of a (bulk sulphide) concentrate containing the precious metals;
- thickening of the concentrate;
- fine milling of the concentrate;
- leaching the precious metals from the concentrate in a dilute cyanide
solution;
- adsorbing the precious metals onto activated carbon;
- stripping the precious metals from the carbon;
- recovering the precious metals as gold dore; and
- placing the concentrate tailing in the tailings storage facility.


Tailings from the treatment of weathered oxide ore early in the mining schedule contain too much gold to discard. Hence, the bulk flotation tail is further treated by:



- thickening;
- leaching the precious metals into a dilute cyanide solution;
- adsorbing the precious metals onto activated carbon;
- stripping the precious metals from the carbon;
- recovering the precious metals as gold dore; and
- placing these tailings in the tailings storage facility.


Process water will be drawn from the Red Sea. The seawater will be pumped approximately 25 km to the mine site to satisfy all Process Plant and mining requirements. Most of the seawater will be pumped into a raw water pond located near the Processing Plant, whilst around 500m3/day will be pumped to a Water Treatment Plant for potable and fresh water supplies.

Power will be generated on site by a 28 MW power station, operated on heavy fuel oil. A temporary construction camp facility will be required to cater for approximately 500 construction employees and 20 senior staff. This is being constructed at the Sukari Gold Project site.

On behalf of Centamin Egypt Limited

Josef El-Raghy, Managing Director/CEO

29th April 2008

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

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.



Table 2 - Significant Intersections March 2008 Quarter

----------------------------------------------------------------------------
Gold
HOLE NORTH EAST DIP AZI EOH FROM TO INTERVAL (g/t)
----------------------------------------------------------------------------
Sukari Resource Drilling
----------------------------------------------------------------------------
(1)D1280 10550 10842.63 -82 270 726.7 430 454 24 0.93
----------------------------------------------------------------------------
469 517 46 2.21
----------------------------------------------------------------------------
incl. 471 473 2 6.47
----------------------------------------------------------------------------
incl. 477 478 1 5.71
----------------------------------------------------------------------------
incl. 500 501 1 11.30
----------------------------------------------------------------------------
incl. 513 516 3 5.74
----------------------------------------------------------------------------
550 585 35 164.09
----------------------------------------------------------------------------
incl. 558 559 1 5,420.00
----------------------------------------------------------------------------
incl. 576 578 2 49.65
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1282 10075 10646.28 -88 270 560.3 368 438 70 1.47
----------------------------------------------------------------------------
incl. 379 380 1 35.30
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1284 10350 10753 -85 270 587.0 363 374 11 2.98
----------------------------------------------------------------------------
incl. 365 366 1 6.71
----------------------------------------------------------------------------
incl. 368 369 1 6.72
----------------------------------------------------------------------------
387 392 5 1.90
----------------------------------------------------------------------------
427 462 35 1.58
----------------------------------------------------------------------------
incl. 429 430 1 6.55
----------------------------------------------------------------------------
incl. 435 436 1 9.09
----------------------------------------------------------------------------
468 494 26 1.13
----------------------------------------------------------------------------
incl. 480 481 1 5.03
----------------------------------------------------------------------------
incl. 493 494 1 8.58
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1287 10375 10525 -70 270 310.6 49 58 9 1.23
----------------------------------------------------------------------------
63 70 7 2.12
----------------------------------------------------------------------------
118 149 31 1.40
----------------------------------------------------------------------------
incl. 137 139 2 6.26
----------------------------------------------------------------------------
incl. 143 144 1 7.63
----------------------------------------------------------------------------
171 173 2 5.21
----------------------------------------------------------------------------
238 265 27 1.47
----------------------------------------------------------------------------
incl. 262 263 1 5.75
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1289 10150N 10725 -84 270 599.5 400 404 4 1.62
----------------------------------------------------------------------------
410 423 13 2.17
----------------------------------------------------------------------------
incl. 412 413 1 8.00
----------------------------------------------------------------------------
430 438 8 1.31
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1294 10225 10715 -83 270 655.5 212 214 2 1.37
----------------------------------------------------------------------------
355 412 57 1.72(i)
----------------------------------------------------------------------------
incl. 362 363 1 9.05
----------------------------------------------------------------------------
incl. 365 366 1 5.15
----------------------------------------------------------------------------
incl. 388 389 1 6.40
----------------------------------------------------------------------------
427 447 20 2.04(i)
----------------------------------------------------------------------------
incl. 444 446 2 6.42
----------------------------------------------------------------------------
489 490 1 12.20
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1295 10475 10515 -83 270 342.8 82 91 9 1.87
----------------------------------------------------------------------------
126 135 9 2.01
----------------------------------------------------------------------------
incl. 132 133 1 6.01
----------------------------------------------------------------------------
159 175 16 3.44(i)
----------------------------------------------------------------------------
incl. 162 163 1 9.34
----------------------------------------------------------------------------
incl. 168 169 1 6.02
----------------------------------------------------------------------------
incl. 170 171 1 23.90
----------------------------------------------------------------------------
214 287 73 1.12
----------------------------------------------------------------------------
incl. 252 253 1 5.94
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1297 10412 10565 -72 255 295.5 110 114 4 1.06
----------------------------------------------------------------------------
153 174 21 2.02
----------------------------------------------------------------------------
incl. 159 161 2 9.76
----------------------------------------------------------------------------
incl. 171 172 1 5.67
----------------------------------------------------------------------------
183 190 7 1.56
----------------------------------------------------------------------------
196 213 17 1.47
----------------------------------------------------------------------------
223 235 12 2.21
----------------------------------------------------------------------------
incl. 225 226 1 13.70
----------------------------------------------------------------------------
245 265 20 3.20
----------------------------------------------------------------------------
incl. 246 247 1 7.51
----------------------------------------------------------------------------
incl. 264 265 1 35.20
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1298 10325 10700 -74 270 501.7 299 305 6 1.59
----------------------------------------------------------------------------
315 330 15 1.65
----------------------------------------------------------------------------
incl. 324 325 1 6.87
----------------------------------------------------------------------------
343 348 5 4.09
----------------------------------------------------------------------------
incl. 345 346 1 16.20
----------------------------------------------------------------------------
359 372 13 2.45
----------------------------------------------------------------------------
incl. 368 369 1 6.64
----------------------------------------------------------------------------
incl. 371 372 1 14.50
----------------------------------------------------------------------------
421 440 19 3.73(i)
----------------------------------------------------------------------------
incl. 426 427 1 9.27
----------------------------------------------------------------------------
incl. 439 440 1 44.40
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1301 10375 10700 -78 270 636.9 280 286 6 1.83
----------------------------------------------------------------------------
298 300 2 1.79
----------------------------------------------------------------------------
306 337 31 2.84(i)
----------------------------------------------------------------------------
incl. 309 311 2 9.35
----------------------------------------------------------------------------
incl. 323 326 3 7.49
----------------------------------------------------------------------------
incl. 333 334 1 14.00
----------------------------------------------------------------------------
370 385 15 1.06
----------------------------------------------------------------------------
404 455 51 2.04(i)
----------------------------------------------------------------------------
incl. 419 420 1 30.60
----------------------------------------------------------------------------
incl. 453 455 2 11.76
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1303 10525 10547 -75 270 390.0 104 233 129 1.80
----------------------------------------------------------------------------
incl. 127 128 1 7.82
----------------------------------------------------------------------------
incl. 146 147 1 5.51
----------------------------------------------------------------------------
incl. 163 168 5 7.65
----------------------------------------------------------------------------
incl. 183 184 1 5.75
----------------------------------------------------------------------------
incl. 195 198 3 8.02
----------------------------------------------------------------------------
incl. 213 215 2 7.29
----------------------------------------------------------------------------
238 241 3 1.21
----------------------------------------------------------------------------
245 285 40 1.43
----------------------------------------------------------------------------
incl. 280 281 1 13.80
----------------------------------------------------------------------------
291 317 26 1.98
----------------------------------------------------------------------------
incl. 301 302 1 5.79
----------------------------------------------------------------------------
incl. 306 307 1 5.29
----------------------------------------------------------------------------
incl. 314 315 1 6.40
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1304 10300N 10831 -80 270 656.0 437 452 15 2.88
----------------------------------------------------------------------------
incl. 450 451 1 25.00
----------------------------------------------------------------------------
457 469 12 1.74
----------------------------------------------------------------------------
incl. 468 469 1 7.82
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1306 10025N 10612 -87 270 555.6 344 366 22 1.07
----------------------------------------------------------------------------
390 476 86 1.91(i)
----------------------------------------------------------------------------
incl. 401 403 2 18.55
----------------------------------------------------------------------------
incl. 417 420 3 5.19
----------------------------------------------------------------------------
incl. 468 469 1 8.91
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1307 10400 10845 -80 270 469.2 391 393 2 3.03
----------------------------------------------------------------------------
403 410 7 1.43
----------------------------------------------------------------------------
422 441 19 5.31(i)
----------------------------------------------------------------------------
incl. 422 424 2 9.27
----------------------------------------------------------------------------
incl. 429 430 1 63.50(i)
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1308 9950N 10645 -80 270 535.4 377 379 2 6.24
----------------------------------------------------------------------------
398 414 16 2.29
----------------------------------------------------------------------------
incl. 399 400 1 5.64
----------------------------------------------------------------------------
419 430 11 12.90(i)
----------------------------------------------------------------------------
incl. 420 421 1 119.00(i)
----------------------------------------------------------------------------
D1313 10050N 10665 -88 270 606.2 408 453 45 1.07
----------------------------------------------------------------------------
incl. 449 450 1 9.74
----------------------------------------------------------------------------

----------------------------------------------------------------------------
D1320 10500N 10875 -82 270 710.3 459 461 2 2.44
----------------------------------------------------------------------------
505 507 2 11.24
----------------------------------------------------------------------------
553 554 1 4.08
----------------------------------------------------------------------------
D1321 9975N 10965 -82 270 584.8 390 393 3 1.11
----------------------------------------------------------------------------
413 418 5 1.07
----------------------------------------------------------------------------
RCD1322 10600N 10875 -82 270 708.0 454 487 33 1.63
----------------------------------------------------------------------------
incl. 477 478 1 9.01
----------------------------------------------------------------------------
incl. 481 483 2 7.13
----------------------------------------------------------------------------
538 539 1 5.91
----------------------------------------------------------------------------
569 570 1 3.40
----------------------------------------------------------------------------
D1328 10125N 10660 -76 270 654.4 292 311 19 8.03(i)
----------------------------------------------------------------------------
incl. 296 303 7 20.58(i)
----------------------------------------------------------------------------
317 389 72 2.36(i)
----------------------------------------------------------------------------
incl. 335 339 4 9.25
----------------------------------------------------------------------------
incl. 351 352 1 5.06
----------------------------------------------------------------------------
incl. 381 382 1 5.29
----------------------------------------------------------------------------
439 455 16 1.36
----------------------------------------------------------------------------
incl. 453 454 1 5.12
----------------------------------------------------------------------------
461 485 24 1.44
----------------------------------------------------------------------------


Kurdeman Prospect
----------------------------------------------------------------------------
KRC007 2752145 671212 -60 270 150.0 111 128 17 3.81
----------------------------------------------------------------------------
incl. 111 112 1 9.72
----------------------------------------------------------------------------
incl. 118 120 2 22.39
----------------------------------------------------------------------------

----------------------------------------------------------------------------
KRC011 2751685 671180 -60 270 150.0 77 85 8 7.76
----------------------------------------------------------------------------
incl. 78 83 5 11.44
----------------------------------------------------------------------------

----------------------------------------------------------------------------
KRC012 2751638 671166 -60 270 150.0 58 60 2 1.43
----------------------------------------------------------------------------

----------------------------------------------------------------------------
KRC013 2752341 671102 -60 40 150.0 54 55 1 2.50
----------------------------------------------------------------------------

----------------------------------------------------------------------------
KRC014 2752307 671116 -60 40 150.0 89 91 2 26.59
----------------------------------------------------------------------------

----------------------------------------------------------------------------
KRC015 2752267 671139 -60 40 150.0 116 118 2 34.69
----------------------------------------------------------------------------

----------------------------------------------------------------------------
KRC018 2752175 671197 -60 270 150.0 52 56 4 3.25
----------------------------------------------------------------------------
incl. 52 53 1 8.13
----------------------------------------------------------------------------


Sukari North Prospect
----------------------------------------------------------------------------
SNRC007 2765261 676731 -60 290 30.0 2 5 3 1.18
----------------------------------------------------------------------------
SNRC007A 2765227 676740 -60 290 150.0 11 15 4 1.18
----------------------------------------------------------------------------
85 86 1 3.35
----------------------------------------------------------------------------
SNRC008 2765259 676771 -60 290 150.0 21 27 6 0.56
----------------------------------------------------------------------------
incl. 25 26 1 1.34
----------------------------------------------------------------------------
33 38 5 0.23
----------------------------------------------------------------------------

Notes: (1) Intervals shown in the table are down hole intercepts, drilled
at high angles relative to the internal mineralized structures and
the Sukari Porphyry; true widths do not apply or are not used in
drilling the stockwork style mineralization at Sukari;
(2) (i) Denotes assay intersections previously announced on 06
February 2008 and 08 April 2008.


Contact Information

  • Centamin Egypt Limited
    Josef El-Raghy
    + 61 (8) 9316 2640
    Email: centamin@centamin.com.au
    Website: www.centamin.com
    or
    Pelham Public Relations
    Candice Sgroi
    + 44 (0) 207 743 6376 or Mobile : + 44 (0) 7894 462 114
    or
    Ambrian Partners Limited
    Richard Brown
    + 44 (0) 207 776 6400