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

Centamin Egypt Limited

April 30, 2009 07:31 ET

Centamin Egypt Reports on Activities in the Quarter Ended March 31, 2009

TORONTO, ONTARIO--(Marketwire - April 30, 2009) - 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, 2009.



Highlights

Construction and Development

- Commissioning and gold production remains on track for the second quarter
of 2009
- Site works advancing well across all fronts with continued sound progress
in crusher and mill areas
- Power Station mechanical and piping installations underway
- Mechanical installation of 25km seawater pipeline approaching completion
- All major contracts awarded and underway
- Sukari project manpower + 1,000

Operations

- Mineral resource upgraded to 9.39 Moz Measured and Indicated, plus 3.5 Moz
Inferred
- Mineral reserve upgraded to 142Mt @ 1.4g/t for 6.4Moz (an increase of 72%)
- Commencement of mining operations in February 2009
- Additional mining fleet delivered and commissioned
- Underground mining contractor selection process completed
- 14,763m of diamond drill ("DD") completed during the quarter
- 8 rigs on site and resource definition drilling continues to target Hapi,
Amun Deeps and Pharaoh Zone
- Grade Control ("GC") Reverse Circulation ("RC") drilling continues
- Regional Exploration continues - High grade Au values up to 10.5g/t Au in
surface sampling at QuartzRidge Prospect; drilling planned to test Au
anomaly
- Significant intersections received for the quarter include:
D1416 - 34m @ 2.16g/t Au and 62m @ 2.13g/t Au
RCD1391 - 9m @ 4.52g/t Au
RCD470 - 66m @ 4.80g/t Au
D1420 - 79m @ 4.87g/t Au
D1423 - 47m @ 2.85g/t Au
D1431 - 55m @ 3.48g/t Au

Corporate

- Bought deal raises gross proceeds of C$69
- Acceptance of a Committed Letter of Offer for Corporate loan facility of
up to US$25 million


Commenting on the quarterly report Josef El-Raghy, Managing Director/CEO of Centamin, stated:

"The quarter saw a combination of the dramatic ramp up in the building of the Sukari Gold Project, a significant uplift in our Measured and Indicated resources and reserves, as well as a considerable strengthening of the balance sheet in anticipation of gold production starting at the end of the second quarter this year. These achievements during a significant period of global financial instability is testament to the resolve and application of the Centamin team, which looks forward to bringing this large gold mine into production in 2009".

SUKARI GOLD PROJECT CONSTRUCTION

The project remains on track for commissioning and production in the second quarter of 2009.

Current activity continues to focus on power generation, plant pipe installations, electrical and instrumentation, mills, fuel farm, gold room, and the seawater pipeline. Workforce levels are expected to peak in the second quarter with all significant contracts for various scopes of work now having been tendered and awarded.

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

Project Engineering and Design

MetPlant Engineering Services Pty Ltd, an Australian based company, have completed engineering and design work for the Process Plant and are in the process of handing over documentation in native formats. Piping engineering and design with SENET in South Africa has progressed well with Stage 1 piping design completed and Stage 2 design in progress.

Crusher & Conveyor Systems

Crusher area structural steel installation is now approaching completion with installation of the crusher and lubrication units well advanced. Electrical and piping installations are in various stages of progress. The final trestle sections of the crusher discharge conveyor are due for completion during the second quarter. Crusher commissioning is currently being evaluated with the assistance of Metso and is planned for the forthcoming quarter.

Reclaim and Grinding Systems

All reclaim apron feeders have been installed and installation of the SAG feed conveyor is well advanced. Mill assembly is progressing well with all shell and head segments installed and the SAG Mill ring gear, pinion and motor in place and alignment checks nearing completion. Installation of the Ball Mill ring gears and motors will be completed during the second quarter.

Preassembly of the cyclone cluster has commenced. All major steel has been ordered with final deliveries expected early in the second quarter. Installation of the pebble crushing and handling facilities has progressed well in the quarter.

CIL Circuit & Gold Recovery

CIL tank erection is complete with top of tank steel now installed and interconnecting launder installation in progress. Tank agitators have been delivered to site, pre-assembled and are ready for installation

Construction of the gold room is progressing well with the first floor suspended slab nearing completion and preparatory works underway for mechanical installation. Commissioning of the elution and gold room is expected throughout the second quarter.

Power Plant

Mechanical and piping installation has commenced in the MAK (28MW) power station with the majority of mechanical items now in place and installation of the lube oil system piping in progress. Building installation works are ongoing with minor structural works and external insulation and cladding in progress. Engine overhauls have commenced and are progressing well.

Electrical installation commenced early in the second quarter. Installation of the Cummins (7MW) power station is well advanced with mechanical fit out of the generator sets nearing completion and cable ladder installation in progress. Commissioning of this station is expected to commence early in the second quarter.

Fuel Farm tank installation is progressing well with all tank bases complete and strake installation well advanced.

Kori Kollo Process Plant Refurbishment

Refurbishment of the Kori Kollo processing facility continues to progress. Deliveries of pump parts have allowed mechanical refurbishment to progress significantly. A rubber lining crew has mobilised to site and has commenced repair works on chutes and hoppers.

Site Buildings and Infrastructure

Installation of the plant power supply cables between the power station and the plant power transformers has been completed. The transformers will be installed in the second quarter. Fabrication of the MCC buildings is well underway with several approaching completion and established on their foundations.

Civil works on the main pipe racks are all but complete with steel erection due to start early in the second quarter. Underground services piping installation has commenced. Civil works on the main warehouse building are complete and erection of steel framing and offices is in progress. Numerous other non-process buildings have been erected and commissioned during the quarter.

Tailings Storage Facility ("TSF")

Stage 1 of the TSF construction is nearing completion. The underdrainage and decant riser pipes are currently being installed, which will allow the final sections of high density polyethylene ("HDPE") liner to be installed. Stage 2 construction, to provide two-years' storage capacity, has commenced.

Seawater Supply System

Mechanical installation of the 25km Seawater Supply system is virtually complete with all piping and equipment placed and testing of the tanks will be completed in the second quarter. Electrical installation has commenced with overhead power lines well advanced along the length of the pipeline.

Progress of bore development has been satisfactory, with four production bores at or near completion and other likely bore locations identified. Water supply to the plant is expected to be established late in the second quarter.

To view Progress Picture 1: Erection of MCC room underway (foreground) with Ball and SAG mills in place, please click on the following link: http://media3.marketwire.com/docs/propic1.pdf

RESOURCE DEFINITION

Recent drilling has been very successful in both conversion of inferred resources to Measured and Indicated resources and in global growth. Measured and Indicated resources grew by approximately 4% to 9.39Moz and the inferred grew by approximately 5% to 3.5Moz (Table 1 & Figure 1). Measured and Indicated resources account for 73% of the global resource (i.e. all categories).



Table 1 - Total Resource (February 2009)

----------------------------------------------------------------------------
Total Measured
Measured Indicated + Indicated Inferred
----------------------------------------------------------------------------
Ton- Ton- Ton- Ton-
Cut-off nes Grade nes Grade nes Grade Gold nes Grade Gold
----------------------------------------------------------------------------
(g/t (g/t (g/t (g/t
g/t Au (Mt) Au) (Mt) Au) (Mt) Au) (Moz) (Mt) Au) (Moz)
----------------------------------------------------------------------------
0.50 72.39 1.48 118.73 1.56 191.11 1.53 9.39 64.3 1.7 3.5
----------------------------------------------------------------------------
0.70 52.46 1.82 86.68 1.91 139.14 1.88 8.40 46.5 2.1 3.2
----------------------------------------------------------------------------
1.00 34.35 2.34 57.67 2.45 92.02 2.41 7.13 31.3 2.7 2.7
----------------------------------------------------------------------------

Note to Table: Figures in table may not add correctly due to rounding


To view Figure 1 - Sukari Resource and Reserve Growth Graph (April 1997 to April 2009), please click on the following link: http://media3.marketwire.com/docs/cenfig1.pdf

Resource growth at Sukari occurred within the Amun Zone from 10350N to 10550N, testing the Horus Zone at depth where mineralisation remains open greater than 1.1km below wadi level. Drilling also focused on the definition and conversion of inferred resources to higher confidence categories (Measured and Indicated) in the Amun Deeps and the Hapi Zone from 10475N to 10575N. In the Pharaoh Zone north of 11200N, significant resource addition occurred from 11425N to 11575N where the Hapi Zone has been defined further along strike. The structure remains open and is currently the target of intensive drilling.

Some of the high grade intersections in the estimate included in the Amun Deeps at 10475N, hole RCD1391 intersected highly mineralised porphyry returning 189m @ 2.51g/t Au from 356m. In the Pharaoh Zone at 11500N, re-entry hole RCD470 returned 66m @ 4.80g/t Au from 691m at the basal contact of the porphyry, beneath the Hapi Zone. Details on these and other significant intersections are in the table below.



Table 2 - Significant high grade samples included in February 2009 Resource
----------------------------------------------------------------------------
EOH FROM INTERVAL GOLD
HOLE NORTH EAST DIP AZI (m) (m) (m) (g/t) ZONE
----------------------------------------------------------------------------
RCD470 11500 10669 -85 90 817.5 691 66 4.8 Pharaoh Zone
----------------------------------------------------------------------------
RCD571 11450 10652 -88 90 867.8 763.7 48.3 1.42 Pharaoh Zone
----------------------------------------------------------------------------
D1388 10050 10550 -83 270 670.7 439 20 7.39 Downthrust
----------------------------------------------------------------------------
RCD1391 10475 10795 -75 270 1136.7 356 189 2.51 Amun Deeps
----------------------------------------------------------------------------
860 9 4.52 Horus Zone
----------------------------------------------------------------------------
D1392 10525 10587 -86 270 1076.1 314 14 6.28 Hapi Zone
----------------------------------------------------------------------------
D1408 11575 10683 -87 270 788 686 47 1.78 Pharaoh Zone
----------------------------------------------------------------------------

Intervals shown in the table are down hole intercepts, drilled at high
angles relative to the internal mineralized structures and the Sukari
Porphyry.


In the upcoming quarter drilling will continue in the Pharaoh Zone to define the Hapi Zone and related high grade structures north along strike. In the Amun Zone drilling will continue to test the Amun Deeps, Downthrust and Hapi Zones north of 10650N.

EXPLORATION

During the quarter, resource definition drilling continued in the south of the Sukari porphyry from Wadi Fault, targeting the Downthrust extension of the Amun Deeps porphyry block, down dip and along strike extensions of the Hapi Zone and the deeper "Horus" Zone beneath Amun Deeps. In the northern Pharaoh Zone, drilling targeted the upper parts of the porphyry; near surface west dipping Cleopatra style zones; the Hapi Zone and deeper mineralisation, moving north of 11200N (Figure 2).

Drilling has been very successful in continuing to define the porphyry dimensions and associated gold mineralisation as predicted from the geological model, along strike and down dip in all areas. Drilling will continue with 8 rigs in all of the above areas for the foreseeable future.

To view Figure 2 - Resource Distribution and main work areas, Sukari project - March 2009, please click on the following link: http://media3.marketwire.com/docs/cenfig2.pdf

Amun Zone (9900 - 10700N)

Drilling continued north along strike, targeting the Amun Deeps porphyry block, its upper Hapi Zone contact and the continuity of the west dipping Downthrust zone extending from the base of it.

Holes D1415, 1416 and 1417 returned strong mineralisation in the Amun Deeps block and Hapi Zone (Table 4), with Downthrust mineralisation, from 10575N - 10675N, showing the continuity of the mineralisation from the south. D1416 returned high grade Hapi Zone (62m @ 2.13g/t Au; including 5m @ 8.67g/t Au) and thick mineralisation above it to the hangingwall contact, in areas that will add significant resource ounces (Figure 3). Mineralisation is open along strike to the north. Recent hole D1434 on 10650N intersected two porphyry blocks in the Amun Deeps and Downthrust zones, assay results are awaited. This zone is the target of further drilling along strike to the north and is extremely encouraging for further resource growth.

To view Figure 3 - Section - 10625N - D1416, thick high grade Amun Deeps mineralisation, please click on the following link: http://media3.marketwire.com/docs/cenfig3.pdf

Pharaoh Zone (11200N - 12100N)

Drilling continued during the quarter in the Pharaoh Zone, targeting infill and along strike extension of the high grade Hapi Zone mineralisation, deeper high grade zones at the base and contact of the main porphyry to the sedimentary country rock package and more west-dipping mineralisation in the far north (Figure 4).

To view Figure 4 - Schematic Long section - 10650E; showing main target areas and recent high grade drilling results, please click on the following link: http://media3.marketwire.com/docs/cenfig4.pdf

Several holes returned strong intersections at the base of the porphyry intrusion in the Hapi and deeper zones. Hole D1420 on 11275N successfully tested to the footwall, extending the porphyry dimensions and returned a very encouraging high grade intersection of 79m @ 4.87g/t Au from 662m in the intensely silicified, brecciated and sulphide altered porphyry at the FW contact (Figure 5; Table 4). This correlates extremely well with similar results along strike and up and down dip; and infills previously untested areas of the porphyry. Significant resource ounces are expected to be added in this area.

Similar zones were intersected along strike and across the width of the porphyry at that depth; D1423 (11350N - 47m @ 2.85g/t Au), D1431 (11400N - 55m @ 3.48g/t Au), RCD470 (11500N - 66m @ 4.80g/t Au) and D1408 (11575N - 47m @ 1.78g/t Au) highlighting the continuity and significant width and thickness of the zone. Current and planned drilling is concentrating on infilling and tracking this deeper mineralisation to the north.

Drilling in the far north of the Pharaoh Zone has also highlighted the west dipping, Cleopatra style zones, with hole D1426 on 11850N intersecting several strong mineralised zones (Table 4). Similar zones were also intersected in D1429, fifty metres to the north. Drilling is testing the strike and width of these zones heading north, an area of little previous drilling and therefore has the potential to add significant resource ounces in future upgrades.

Drilling will continue during the coming quarters, targeting these mineralisation zones heading north along the drill tracks that are planned in the Pharaoh Zone.

To view Figure 5- Section 11275 - D1420 has successfully tested to the footwall, extending the porphyry dimensions and resource blocks and returned a high grade intersection of 79m @ 4.87g/t Au from 662m, please click on the following link: http://media3.marketwire.com/docs/cenfig5.pdf

REGIONAL EXPLORATION

Regional exploration work continued during the quarter, with mapping and sampling on wide spaced east-west traverse lines across the regional shear zone in which Sukari sits, targeting stronger alteration and structurally complex shear zones and quartz veining (Figure 6). 694 samples were collected for the quarter from the regional scale sampling, and 1,276 for the Quartz Ridge Prospect. A total of 2,136 assays were returned, 1,436 from Quartz Ridge and the rest for the wide spaced regional work.

To view Figure 6 - Regional sampling programme - Assays and locations, please click on the following link: http://media3.marketwire.com/docs/cenfig6.pdf

More strong surface assays were returned for the Quartz Ridge prospect and the shear zone and quartz veins to the south of the Main Vein (Figure 7 & Table 3). Results at the east-west striking 400m long Main Vein shear zone continue to highlight the strongly Au anomalous (+0.1ppm Au) 20m halo of alteration and shearing around the 0.5 - 3m thick higher grade Main quartz vein. Drill sites have been prepared to test the east-west striking, south dipping Main Vein and shear zone.

Systematic sampling and mapping in the area 300m to the south of the Main Vein, around the previously reported high grade 100m long NE trending shear zone has outlined a +0.05ppm Au, 400m strike length, 20 - 80m wide, NE trending Au anomaly in intermediate to felsic intrusive rocks. NE striking shear zones and quartz veins at the margins and internal to a strongly ankerite and hematite altered, oxidised felsic intrusive unit are the source of strong gold anomalism. Quartz veins generally dip moderately to the SE, and the foliation dips to the NW. Sampling of the track cut for rig access highlighted some very high grade assays (Table 3) up to 10.5g/t Au. Results are highly encouraging and are being interpreted for further drilling, which should be completed during the upcoming quarter.

To view Figure 7 - Quartz Ridge Main Vein and South Prospects - Surface Sampling Assays, please click on the following link: http://media3.marketwire.com/docs/cenfig7.pdf

Water bore drilling continues on the coast for the Mine Water Supply. Four wells have been completed successfully at 200m each, another 4 are planned.

GRADE CONTROL

Grade control ("GC") RC drilling continued during the quarter. Work commenced in Stage 1 Amun Zone 1160RL and Stage 2 1208RL benches.

On site aqua regia assaying of grade control samples commenced during the quarter, as the Mine Fire Assay Lab on the plant site nears completion. A total of 4,744m were completed during the quarter; with 23,856m completed to date from 1,300 holes. No reconciliation issues to the resource model have been identified.

OPEN PIT RESERVE UPGRADE

Total reserves have increased to 6.4 million ounces, an increase of 2.7 million ounces (72%) from the previously reported 3.7 million ounces as announced in March 2007. The new mineral reserves are based on drilling up to 25 January 2009 and utilized a gold price of US$700 per ounce. Details of the new reserves calculated for Sukari as at April 2009 and the previous reserves as at March 2007 are listed in the table below.



----------------------------------------------------------------------------
Sukari Open Pit Mineral Reserve Estimate as at April 2009
(reported at a cut-off grade of 0.4 g/t Au for oxide and sulphide material
and 0.5 g/t for transitional)
----------------------------------------------------------------------------
Proven Probable Mineral Reserve
----------------------------------------------------------------------------
Tonnes Au Tonnes Au Tonnes Au Cont Au
(Mt) (g/t) (Mt) (g/t) (Mt) (g/t) (Moz)
------------------- --------------------------------------------------------
New Reserve 64 1.38 78 1.43 142 1.4 6.4
----------------------------------------------------------------------------
Previous Reserve 34.1 1.5 44.2 1.5 78.3 1.5 3.7
----------------------------------------------------------------------------


The current reserve has been calculated from a Measured and Indicated resource of 191Mt at 1.5g/t Au for 9.39 million ounces (as disclosed in the press release dated 12 February 2009) compared to the previous reserve that was calculated from a Measured and Indicated resource of 121Mt at 1.4g/t for 5.42 million ounces. A total Measured and Indicated resource increase of 3.97 Million ounces (72%) corresponds directly with the percentage increase in total reserves.

The Sukari pit will be developed in a number of stages and the mining and processing schedule developed for Sukari uses an elevated cutoff grade through the early years to increase the head grade to the processing plant. It is currently assumed that the material between this elevated cutoff grade and the cutoff grade used for the Mineral Reserve estimate is stockpiled and treated at the end of the project life.

OPEN PIT MINING

Mining pre-strip activity and blasting commenced during the quarter. During the current quarter, a total of 444,623 bank cubic metre ("BCM") of material was moved. A total of 1,416,715 BCM of material has been moved for the financial year to date.

Centamin conducts its open pit mining operations on an 'owner operator' basis. During the quarter, additional mining fleet consisting of five CAT785C rear dump trucks and one O&K RH120E excavator were delivered and assembled on site. With the introduction of this additional fleet, the total mobile equipment infrastructure for the project currently comprises:-

CAT 785C Rear Dump Trucks (10)

O&K RH120E Excavator (2)

CAT 785C Water Truck (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)

In addition to the above, Atlas Copco equipment is used to supply grade control and blast hole drilling equipment.

To view Progress Picture 2: Sukari Plant Site please click on the following link: http://media3.marketwire.com/docs/propic2.pdf

To view Progress Picture 3: View of current mining activity at Sukari, please click on the following link: http://media3.marketwire.com/docs/propic3.pdf

UNDERGROUND MINE PLANNING

During the quarter, tender evaluations were conducted in relation to the award of underground mining activities at Sukari. Following closure of tender evaluations, Centamin announced on 03 April 2009 that it had issued a Letter of Intent to Barminco for the immediate mobilisation of personnel and equipment, and subsequent commencement of underground mining activities at the Sukari Gold Project in Egypt. The award to Barminco, one of Australia's leading underground contractors, will see the immediate mobilisation of personnel and equipment to Sukari targeting a start date of 01 July 2009 for the underground decline. Site works have begun at Sukari for the commencement of portal construction.

An initial underground mining rate of 500,000 tonnes per annum at a grade between 5-10g/t Au is being targeted thus bringing higher grade ore feed into production earlier than otherwise would have been scheduled through surface mining at circa 2g/t. Within the initial 12 months of operation, the 6m x 6.5m decline will progress 1,200m and begin to develop in ore roughly 200m below the valley floor. Initial ore from development work will begin at this stage with full production from the underground being achieved approximately 18 months after commencement of the decline.

CORPORATE

During the quarter, the Company entered into an agreement with a syndicate of underwriters led by Thomas Weisel Partners Canada Inc under which the underwriters agreed to buy 92,308,000 ordinary shares (the "Ordinary Shares") from Centamin Egypt Limited on a bought-deal basis and sell them to the public at a price of C$0.65 per Ordinary Share. The Company also granted to the underwriters an over-allotment option to purchase up to an additional 13,846,200 Ordinary Shares at the same price, exercisable by the underwriters in whole or in part for a period of 30 days on or following the closing of the offering.

Following the closure on 10 February 2009, the Company announced that a total of 106,154,200 ordinary shares were sold, of which 13,846,200 ordinary shares were issued pursuant to the exercise in full of an over-allotment option granted to the underwriters, at C$0.65 per share to raise gross proceeds of C$69,000,230.

Centamin Egypt Limited intends to use the net proceeds of the offering for the continued development of the Sukari Gold Project, underground development, exploration and working capital purposes. The Company is currently debt free, unhedged and able to aggressively pursue further exploration and development activities, including the underground development of the high grade Amun Deeps zone.

On 02 April 2009, the company announced it had entered into an agreement with Macquarie Bank Limited ("MBL") to provide a corporate loan facility of up to US$25 million (the "Facility"). It is the Company's intention that development of the Sukari Gold Project will be funded out of existing cash resources and internally generated cash flow however the Facility provides the Company with access to additional funds at a low cost for future use, if required. The Facility is to be made available to the Company, however at this point will remain undrawn. Following the completion the C$69 million bought deal in February 2009 described above, Centamin has a strong balance sheet and currently has sufficient funding for the completion of the Sukari Gold Project, underground development, exploration expenditure and working capital requirements. The Facility is subject to final documentation and drawdown on the Facility is subject to standard financing terms and conditions. In the event of any drawdown on the Facility, Centamin will not be required to enter into any hedging arrangements and the Facility does not impose any restrictions on the future development and operation of the Sukari Gold Project. In return for entering into this agreement, Centamin issued 1,630,150 unquoted share options to MBL, exercisable at a price of A$1.20 and expiring 31 December 2012.

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

A definitive feasibility study ("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. As at 30 June 2008, the Company is of the opinion that due to increased commodities prices, project delays and currency movements since finalisation of the DFS that the capital estimate is at risk by 20%. Average cash operating costs have also been revalidated as at 30 June 2008 due the higher cost of consumables, and are forecast to be US$365/oz.

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 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 3.7Moz 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 at US$49.3 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 a bore field located adjacent to 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 primary power station, operated on heavy fuel oil. A modern camp facility was constructed to cater for approximately 700 occupants. The camp currently houses approximately 550 occupants, with another 150 occupants being housed in the old exploration camp.

On behalf of Centamin Egypt Limited

Josef El-Raghy, Managing Director/CEO, 30 April 2009

Quality Assurance and Control and Qualified Person

The information in this report that relates to ore reserves has been compiled by Mr Tadek Wojtowicz and internally reviewed by Mr Andrew Pardey. Mr Pardey is a Member of the Australasian Institute of Mining and Metallurgy and is a full time employee of the Company. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity 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 the "National Instrument 43-101 of the Canadian Securities Administrators" and "CIM Definition Standards For Mineral Resources and Mineral Reserves" of December 2005 as prepared by the CIM Standing Committee on Reserve Definitions of the Canadian Institute of Mining. Mr Pardey's 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 ore reserves has also been independently verified by Mr Pieter Doelman, an employee of Coffey Mining Pty Ltd Perth. Mr Doelman is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity 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 the "National Instrument 43-101 of the Canadian Securities Administrators" and the "CIM Definition Standards For Mineral Resources and Mineral Reserves" of December 2005 as prepared by the CIM Standing Committee on Reserve Definitions of the Canadian Institute of Mining. Mr Doelman consents to the inclusion of this estimate in reports.

Information in this report which relates to exploration, geology, sampling and drilling is based on information compiled by geologist Mr Richard 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 independently 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 3 - Anomalous Geochemistry - Regional Rock Chip Samples (greater than
0.5ppm Au) March 2009 Quarter

---------------------------------------------------------------------------
SAMPLE Rocktype Au_Ar1_ppm UTM_N UTM_E Comments
---------------------------------------------------------------------------
339074 GBD 1.08 2759963 677498 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
339091 GBD 0.845 2759943 677479 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
339701 GBD 0.757 2759936 677490 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
339702 GBD 5.02 2759936 677491 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
339703 GBD 2.11 2759935 677493 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
339720 GBD 0.583 2759909 677462 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
339722 GBD 0.502 2759903 677490 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
339747 DI 0.506 2759893 677541 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
339748 DI 0.634 2759892 677542 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
340669 PH 0.515 2758910 676863 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
340672 PH 2.59 2758904 676857 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
340673 PH 1.14 2758901 676856 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
340674 PH 0.841 2758899 676855 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
340676 PH 0.694 2758896 676850 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
348124 GD 0.585 2759780 677638 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
348125 GBD 0.613 2759786 677630 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
348135 GBD 1.59 2759852 677560 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
348656 VQ 0.732 2759913 677777 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
348659 GBD 0.504 2759936 677761 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
350117 VQ 0.711 2759998 677617 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
350795 FV 0.891 2759010 676969 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
355148 GBD 0.835 2760280 677491 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
355155 FV 0.548 2760272 677487 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
355161 GBD 0.959 2760264 677478 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
355162 GBD 1.16 2760264 677478 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
355165 GBD 0.641 2760260 677476 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
355423 GD 0.518 2760230 677410 Qtz Ridge Sth Shear Zone -
infill sampling
---------------------------------------------------------------------------
355428 GD 1.72 2759748 677406 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355462 FV 1.11 2759786 677449 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355463 FV 0.72 2759786 677450 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355464 FV 2.35 2759787 677452 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355465 FV 2.49 2759787 677454 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355466 FV 3.32 2759788 677455 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355467 FV 1.67 2759788 677457 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355472 GD 0.631 2759790 677466 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355473 GD 0.534 2759792 677467 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355482 GD 0.636 2759805 677475 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355484 GD 0.579 2759807 677477 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355485 GD 1.13 2759808 677478 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355486 GD 1.47 2759809 677480 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355487 GD 2.07 2759809 677481 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355488 GBD 2.49 2759810 677483 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355489 GBD 4.95 2759811 677485 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355490 GBD 2.11 2759811 677487 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355491 GBD 1.53 2759812 677488 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355492 GBD 8.73 2759813 677490 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355493 GBD 1.18 2759814 677491 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355494 GBD 0.543 2759815 677492 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
355497 GBD 0.817 2759818 677497 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
358969 GBD 0.783 2759822 677501 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
358971 GBD 0.956 2759821 677509 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
358972 GBD 0.532 2759826 677509 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
358973 GD 1.48 2759825 677510 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
358974 GD 1.44 2759824 677511 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
358975 GD 0.745 2759823 677512 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
358987 GD 1.75 2759830 677520 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
358988 GD 1.42 2759832 677519 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
358989 GD 0.625 2759833 677518 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
358990 GD 0.726 2759835 677518 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
358996 GD 0.755 2759846 677515 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
358997 GD 0.527 2759846 677515 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359801 GBD 10.5 2759850 677514 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359805 GBD 1.78 2759858 677510 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359806 GBD 1.45 2759859 677509 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359807 GBD 1.45 2759859 677507 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359826 GBD 0.842 2759894 677498 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359834 GBD 2.6 2759911 677504 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359843 GD 1.49 2759925 677505 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359844 GD 0.527 2759925 677504 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359845 GD 2.27 2759926 677504 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359846 GD 1.38 2759928 677505 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359847 GD 1.91 2759930 677505 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359848 GD 0.875 2759931 677506 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359851 GD 0.825 2759935 677507 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359852 GD 1.24 2759939 677503 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359853 GD 0.652 2759940 677506 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359854 GD 1.52 2759941 677508 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359855 GD 2.35 2759942 677509 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359860 GD 0.708 2759951 677510 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359863 FV 6.92 2759963 677508 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359878 GD 1.2 2759988 677501 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359879 GD 0.873 2759990 677503 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359880 GBD 0.603 2759991 677503 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359882 GBD 1.6 2759994 677501 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359883 GBD 1.54 2759996 677501 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359884 GBD 1.35 2759997 677500 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
359885 GBD 0.769 2759999 677499 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
360006 GBD 0.693 2759854 677431 Qtz Ridge South Anomaly -
Track channel Samples
---------------------------------------------------------------------------
341492 VQ 1.58 2755691 670918 Regional wide spaced Samples
---------------------------------------------------------------------------
Notes: GBD - Gabbro-Diorite; Ux - Ultramafic; VQ - Quartz Veining;
LST - Silica-Carb Alt Rock; FV - Felsic Volcanic Unit;
GD - Granodiorite; DI - Diorite; PH - Felsic Porphyry



Table 4 - Significant Intersections March 2009 Quarter

-------------------------------------------------------------------------
HOLE NORTH EAST DIP AZI EOH FROM TO INTERVAL Au (g/t)
-------------------------------------------------------------------------
RCD444 11600 10861 -70 270 662.3 606 656 50 1.13
-------------------------------------------------------------------------

-------------------------------------------------------------------------
RCD470 11500 10669 -85 90 817.5 691 757 66 4.80
-------------------------------------------------------------------------
incl. 720 721 1 22.80
-------------------------------------------------------------------------
incl. 741 748 7 33.40
-------------------------------------------------------------------------
incl. 744 746 2 101.00
-------------------------------------------------------------------------

-------------------------------------------------------------------------
RCD1391 10475 10795 -75 270 1136.7 860 869 9 4.52
-------------------------------------------------------------------------
incl. 864 869 5 6.55
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1392 10525 10584 -85 270 1076.1 799 801 2 3.92
-------------------------------------------------------------------------
824 836 12 1.35
-------------------------------------------------------------------------
1170 1176.1 6.1 1.08
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1408 11575 10683 -87 270 788 268 275 7 1.59
-------------------------------------------------------------------------
incl. 272 273 1 6.29
-------------------------------------------------------------------------
686 733 47 1.78
-------------------------------------------------------------------------
incl. 705 732 27 2.59
-------------------------------------------------------------------------
incl. 708 709 1 7.89
-------------------------------------------------------------------------
incl. 729 731 2 13.55
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1409 11975 10816 -35 270 390.62 162 166 4 3.61
-------------------------------------------------------------------------
incl. 165 166 1 13.40
-------------------------------------------------------------------------

-------------------------------------------------------------------------
RCD1415 10575 10865 -65 270 1102.8 358 359 1 43.60
-------------------------------------------------------------------------
419 451 32 1.08
-------------------------------------------------------------------------
incl. 430 437 7 3.07
-------------------------------------------------------------------------
458 495 37 1.06
-------------------------------------------------------------------------
incl. 479 480 1 6.25
-------------------------------------------------------------------------
incl. 494 495 1 11.20
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1416 10625 10874 -70 270 1157.7 365 399 34 2.16
-------------------------------------------------------------------------
incl. 368 369 1 6.23
-------------------------------------------------------------------------
incl. 387 388 1 5.15
-------------------------------------------------------------------------
438 444 6 2.67
-------------------------------------------------------------------------
incl. 439 440 1 6.50
-------------------------------------------------------------------------
449 511 62 2.13
-------------------------------------------------------------------------
incl. 439 440 1 6.50
-------------------------------------------------------------------------
incl. 453 454 1 5.38
-------------------------------------------------------------------------
incl. 474 479 5 8.67
-------------------------------------------------------------------------
incl. 484 485 1 6.89
-------------------------------------------------------------------------
822 828 6 1.96
-------------------------------------------------------------------------
incl. 827 828 1 5.56
-------------------------------------------------------------------------

-------------------------------------------------------------------------
RCD1417 10675 10860 -70 270 1097.6 354 382 28 1.22
-------------------------------------------------------------------------
474 483 9 2.53
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1418 9925 10620 -83 270 659.5 379 387 8 1.16
-------------------------------------------------------------------------
397 415 18 1.63
-------------------------------------------------------------------------
incl. 407 408 1 5.42
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1419 11450 10650 -87 270 758.5 332 342 10 1.10
-------------------------------------------------------------------------
332 333 1 5.78
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1420 11275 10835 -80 270 763.5 226 233 7 1.33
-------------------------------------------------------------------------
incl. 226 227 1 5.34
-------------------------------------------------------------------------
331 337 6 4.65
-------------------------------------------------------------------------
incl. 336 337 1 13.30
-------------------------------------------------------------------------
662 741 79 4.87
-------------------------------------------------------------------------
incl. 673 674 1 15.80
-------------------------------------------------------------------------
incl. 694 699 5 14.50
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1422 11625 10683 -90 0 855 6 22 16 1.74
-------------------------------------------------------------------------
713 727 14 1.05
-------------------------------------------------------------------------
incl. 717 718 1 5.45
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1423 11350 10866 -88 270 644.8 77 97 20 1.09
-------------------------------------------------------------------------
380 413 33 1.62
-------------------------------------------------------------------------
incl. 391 396 5 5.58
-------------------------------------------------------------------------
542 589 47 2.85
-------------------------------------------------------------------------
incl. 542 544 2 22.00
-------------------------------------------------------------------------
incl. 562 563 1 10.90
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1426 11850 10827 -67 270 629.3 0 5 5 3.32
-------------------------------------------------------------------------
273 301 28 1.03
-------------------------------------------------------------------------
335 340 5 2.86
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1427 11050 10957 -70 270 548.8 87 139 52 1.30
-------------------------------------------------------------------------
incl. 93 94 1 7.75
-------------------------------------------------------------------------
178 190 12 2.02
-------------------------------------------------------------------------
incl. 182 184 2 7.26
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1428 11375 10880 -83 270 655 251 283 32 1.25
-------------------------------------------------------------------------
380 392 12 1.86
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1429 11900 10810 -68 270 563.7 9 13 4 2.36
-------------------------------------------------------------------------
414 426 12 1.34
-------------------------------------------------------------------------
incl. 425 426 1 7.10
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1431 11400 10850 -83 270 786.1 601 605 4 8.59
-------------------------------------------------------------------------
incl. 602 603 1 24.10
-------------------------------------------------------------------------
610 627 17 10.49
-------------------------------------------------------------------------
incl. 624 625 1 138.00
-------------------------------------------------------------------------
641 696 55 3.48
-------------------------------------------------------------------------
incl. 678 690 12 10.20
-------------------------------------------------------------------------
incl. 680 681 1 34.90
-------------------------------------------------------------------------

-------------------------------------------------------------------------
D1432 10475 10784 -73 270 692.7 417 421 4 28.10
-------------------------------------------------------------------------
644 650 6 2.73
-------------------------------------------------------------------------
incl. 646 647 1 6.36
-------------------------------------------------------------------------

Note: 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

ABN 86 007 700 352


Contact Information

  • Centamin Egypt Limited
    Josef El-Raghy
    + 61 (8) 9316 2640
    www.centamin.com
    or
    Buchanan Communications Limited
    Ben Willey or Bobby Morse
    + 44 (0) 207 7466 5000
    or
    Ambrian Partners Limited
    Richard Brown or Richard Greenfield
    + 44 (0) 207 7634 4700