Moto Goldmines Limited
TSX : MGL
ASX : MOE

Moto Goldmines Limited

July 18, 2005 09:19 ET

Moto Goldmines Confirms Significant Potential of Sessenge Prospect

PERTH, AUSTRALIA--(CCNMatthews - July 18, 2005) - Moto Goldmines Limited (TSX:MGL)(ASX:MOE):

Further results from the infill RC drill programme at Sessenge at the Company's Moto Gold project in the Democratic Republic of Congo confirm the significant potential of this prospect. Significant intercepts from this programme, which consists of a total 54 holes for 5,190m, include: 32m @ 2.96 g/t Au from 0m to 32m in SRC039, 26m @ 3.14 g/t Au from 56m to 82m in SRC043, 10m @ 8.90 g/t Au from 44m to 54m in SRC042, 18m @ 2.47 g/t Au from 56m to 74m in SRC049, 34m @ 2.21 g/t Au from 84m to 118m in SRC56 and 50m @ 2.10 g/t Au from 46m to 96m in SRC063.

Sessenge lies within the northeast-southwest trending Durba - Karagba mineralised corridor. It is located 1km southwest of the Karagba prospect which is the target of an ongoing drill programme and 1km northeast of the Kibali deposit where previous drilling has identified an inferred resource of 1.3M ounces.

The drilling at Sessenge has defined a series of stacked mineralised horizons averaging 15m to 20m in thickness (up to maximum of 50m thick) which strike northwest-southeast over a distance of 500m and dip 20 degrees to 30 degrees to the northeast (present interpretation has identified 3 mineralised horizons). These mineralised horizons have been followed down dip to a maximum vertical depth of 120m. This mineralisation shares a similar orientation and extent to that of Pakaka which has been followed to a vertical depth of 300m, over 800m down dip.

A resource estimate is presently underway using the results of the initial 32 hole programme. A drill hole spacing of 80m x 80m is sufficient for defining inferred resources. Results from the infill programme are expected to elevate inferred resources to the indicated category.

Significant results received and not previously reported are summarised in Table 1.

Additional Notes:

Scientific or technical information in this news release has been prepared under the supervision of Greg Smith, Exploration Manager of the Company and a qualified person under National Instrument 43-101 and a member of the Australasian Institute of Mining and Metallurgy (AusIMM).

Greg Smith has sufficient experience which is relevant to the style of mineralisation 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" (the JORC Code).

Caution Regarding Forward Looking Statements: Statements regarding the Company's plans with respect to developing the Moto Gold Project are forward-looking. There can be no assurance that any mineralisation will be proven to be economic, that anticipated metallurgical recoveries will be achieved, that future evaluation work will confirm the viability of deposits identified with the project or that future required regulatory approvals will be obtained.



Table 1
Significant Intercepts Sessenge

---------------------------------------------------------------------
Azi- Inter- Au
Hole_id UTM_North UTM_East UTM_RL muth Dip Depth From To val g/t
---------------------------------------------------------------------
SRC039 343960 785920 850 0 -90 100 0 32 32 2.96
---------------------------------------------------------------------
SRC040 343960 786000 850 0 -90 120 2 10 8 1.37
---------------------------------------------------------------------
52 58 6 0.80
---------------------------------------------------------------------
68 74 6 0.69
---------------------------------------------------------------------
96 108 12 2.30
---------------------------------------------------------------------
114 118 4 1.14
---------------------------------------------------------------------
SRC042 343920 785900 850 0 -90 100 0 24 24 2.06
---------------------------------------------------------------------
44 54 10 8.90
---------------------------------------------------------------------
68 70 2 6.26
---------------------------------------------------------------------
SRC043 343920 785940 850 0 -90 120 0 4 4 1.18
---------------------------------------------------------------------
14 20 6 1.45
---------------------------------------------------------------------
56 82 26 3.14
---------------------------------------------------------------------
SRC049 343840 785900 850 0 -90 120 0 6 6 1.59
---------------------------------------------------------------------
40 50 10 1.48
---------------------------------------------------------------------
56 74 18 2.47
---------------------------------------------------------------------
SRC051 343840 785980 850 0 -90 150 28 32 4 0.89
---------------------------------------------------------------------
82 104 22 0.99
---------------------------------------------------------------------
110 112 2 9.54
---------------------------------------------------------------------
SRC052 343840 786020 850 0 -90 160 114 132 18 1.37
---------------------------------------------------------------------
154 156 2 1.15
---------------------------------------------------------------------
SRC055 343800 785920 850 0 -90 120 2 8 6 1.43
---------------------------------------------------------------------
48 52 4 1.67
---------------------------------------------------------------------
82 86 4 1.11
---------------------------------------------------------------------
SRC056 343800 786000 850 0 -90 140 10 16 6 1.70
---------------------------------------------------------------------
84 118 34 2.21
---------------------------------------------------------------------
SRC061 343760 785940 850 0 -90 110 58 70 12 1.51
---------------------------------------------------------------------
SRC062 343760 785980 850 0 -90 120 68 92 24 2.08
---------------------------------------------------------------------
SRC063 343760 786020 850 0 -90 130 0 4 4 0.85
---------------------------------------------------------------------
8 20 12 1.36
---------------------------------------------------------------------
46 96 50 2.10
---------------------------------------------------------------------
SRC064 343760 786060 850 0 -90 140 58 64 6 0.85
---------------------------------------------------------------------
72 98 26 1.76
---------------------------------------------------------------------
118 122 4 1.16
---------------------------------------------------------------------


NOTES TO TABLES:

1. All drillholes are drilled vertical. The mineralisation dips 20 degrees to 30 degrees. The intersected true width is approximately 90 % of the intercept.

2. SGS Mwanza completed assaying of the RC chips from Sessenge. Fire assay using a 50gm charge was used for all assays.

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