Moto Goldmines Limited
TSX : MGL
AIM : MOE

Moto Goldmines Limited

July 16, 2009 10:43 ET

Moto Announces Receipt of Offer From Randgold Resources

PERTH, WESTERN AUSTRALIA--(Marketwire - July 16, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH ANY US NEWSWIRE SERVICE

Moto Goldmines Limited (TSX:MGL)(AIM:MOE)("Moto") confirm that it has received an unsolicited offer from Randgold Resources Limited ("Randgold") for the acquisition of all of the shares of Moto by way of a proposed plan of arrangement. The board of directors of Moto are considering the offer to determine whether it is a superior offer to the plan of arrangement that has been agreed with Red Back Mining Inc. and was announced on June 1, 2009. Moto will advise by news release in due course its conclusions with respect to the Randgold offer.

ARBN 113 274 874

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