Cigma Metals Corporation

November 14, 2006 00:19 ET

Cigma Metals Corporation: News Release

COOLUM BEACH, AUSTRALIA--(CCNMatthews - Nov. 14, 2006) - Cigma Metals Corporation (Cigma) (PINK SHEETS:CGMX)(FWB:C9KA) is pleased to announce the company intends to diversify its operations to include base metals. After completing the due diligence period the Company intends to capitalize on the current high base metal prices by diversifying its current interests in Gold to include into Zinc, Nickel, Lead and Copper.

Cigma entered into a memorandum of understanding with Eureka Mining Plc to form a joint venture over the 14,000 square kilometer Dostyk mining area, in northern Kazakhstan.

Kazakhstan is a resource-rich country, rich in oil and natural gas, Zinc, Copper, Bauxite, Gold, Silver, Chrome, Uranium and other metals. It is also a vast country, stretching from Russia and the Caucasus in Europe to China and Mongolia in Asia. Kazakhstan is also home to the big oil of the 21st century located in the Atyrau and Caspian Sea region.

Kazakhstan is also a country big on Gold and base metals, in particular Zinc and Copper. The state statistics agency said in mid September that Kazakhstan produced 244,967 metric tons of Zinc in January to August 2006, an increase of 3.1% on the corresponding period last year. Oil, gas, and mineral exports are key to Kazakhstan's economic success, and since 1993, Kazakhstan's mining industries have attracted $30.7 billion in foreign investment, which represents almost 76% of the total FDI in Kazakhstan for that period.

The Dostyk area has been producing gold and base metals for decades. Cigma is confident that the company will be able to expand on the several known Zinc, Copper, Nickel, Lead and Gold occurrences on the license and participate in the rapidly growing precious and base metals sector. The results of data reviews and initial site investigations has given the company the opportunity and confidence to highlight drill targets to test depth and lateral extensions of Zinc, Copper and other base metals. Cigma intends to initiate drilling directly on signing the agreement.

Simultaneously Cigma also entered into a memorandum of understanding with its current joint venture partner Geosphera in Tomsk, Russia, over the 600 km2 Tashminsky gold and polymetallic project. The Tashminsky area is located approximately 75 km for the large regional center of Tomsk. Previous work on the Tashminsky license has resulted in the discovery of 5 mineralised zones, including the Turuntayevo Zinc deposit. The Turuntayevo Zinc deposit will be the focus of exploration for the Tashminsky project area.

To view the map accompanying this press release please click on the following link:

Negotiations are currently being finalised over both the Dostyk and Tashminsky projects and exploration is intended to begin immediately on signing of the agreements.

The Company is currently exploring for gold in Russia and has an 80% interest in the Tugojakovsk and Haldeiskaja Exploration licenses totaling 740 km2, situated close to the city of Tomsk in the Tomsk Oblast region of Siberia in the Russian Federation. The Haldeiskaja property shares its eastern boundary with the Tashminsky Project.

Cigma Metals Corporation is a mineral exploration company focusing on the exploration and development of its 2 exploration properties totaling 740 square kilometers in the Tomsk Oblast region of Siberia in Russia. The project areas were selected due to their proximity to a well-developed infrastructure, known gold occurrences and from historical records of gold production. The lithologies associated with the projects are similar to those that have proven to be the host of significant gold occurrences elsewhere in the Black shales of Asia. Cigma Metals Corporation's stock trades on the following exchanges under the symbol "CGMX.PK" on the NASD OTC Pink Sheets in the United States of America, and under the symbols "C9KA.F" on the Frankfurt Exchange.


Lars Pearl, President and Director


This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of those terms and other comparable terminology.

These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire properties on commercially viable terms; challenges to our title to our properties; operating or technical difficulties in connection with our exploration and development activities; currency fluctuations; fluctuating market prices for precious and base medals; the speculative nature of precious and base medals exploration and development activities; environmental risks and hazards; governmental regulations; and conduct of operations in politically and economically less developed areas of the world.

Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. These cautionary statements qualify all of the forward-looking statements made in this press release. Specific reference is made to our most recent annual report on Form 10KSB and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at

We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security.

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