Moto Goldmines Limited
TSX : MGL
ASX : MOE

Moto Goldmines Limited

March 23, 2006 09:45 ET

Moto Goldmines Limited: Drilling Confirms The Excellent Potential Of The Chauffeur Mineralised Zone

PERTH, WESTERN AUSTRALIA--(CCNMatthews - March 23, 2006) - Moto Goldmines Limited (TSX:MGL)(ASX:MOE) -

NOT FOR RELEASE IN THE UNITED STATES OR THROUGH A U.S. NEWSWIRE SERVICE

Significant results from the extension and infill diamond drill programme at Chauffeur/ Durba include:

- 46m @ 6.13 g/t Au from 18m to 64m,

- 48m @ 9.98 g/t Au from 24m to 72m,

- 22m @ 5.41 g/t Au from 70m to 92m,

- 8m @ 16.71 g/t Au from 70m to 78m,

- 34m @ 6.53 g/t Au from 94m to 128m,

- 10m @ 11.45 g/t Au from 144m to 154m, and

- 16m @ 5.08 g/t Au from 160m to 176m.

Revised independent resource estimate planned for April, 2006.

In November 2005 the Company announced a revised resource estimate at the Moto Gold project in the north east of the Democratic Republic of Congo. Independent geological consultants Cube Consulting Pty Limited ("Cube Consulting") estimated indicated resources of 34.34 million tonnes at 2.5 g/t for 2.81 million ounces of gold and inferred resources of 92.89 million tonnes at 2.7 g/t Au for 8.16 million ounces of gold. Recent extension drilling at Chauffeur / Durba, designed to increase the resources, has generated further significant results.

CHAUFFEUR / DURBA

Further results in the extension and infill diamond drill programme DDD081 to DDD130 have been received. This programme targets the up-plunge position of the Chauffeur mineralisation and underlying Durba mineralised zone. Significant intercepts include: 8m @ 16.71 g/t Au from 70m to 78m, 4m @ 30 g/t Au from 142m to 146m and 30m @ 2.88 g/t Au from 172m to 202m in DDD088, 48m @ 9.98 g/t Au from 24m to 72 m in DDD111, 46m @ 6.13 g/t Au from 18m to 64m in DDD113, 10m @ 11.45 g/t Au from 144m to 154m and 16m @ 5.08 g/t Au from 160m to 176m in DDD114, 22m @ 5.41 g/t Au from 70m to 92m, 48m @ 2.63 g/t Au from 118m to 166m and 46m @ 2.21 g/t Au from 178m to 224m in DDD116, and 34m @ 6.53 g/t Au from 94m to 128m in DDD121.

This drilling further underscores the excellent potential of the Chauffeur mineralised zone as a high grade open pitable deposit.

Further drill planning is underway to test the full extent of the underlying Durba mineralised zone.

In November 2005 Cube Consulting estimated an inferred resource at Karagba (which overlies the Chauffeur mineralised zone) of 36.70 million tonnes grading 3.1 g/t Au for 3.63 million ounces of gold. A revised resource estimate including the Chauffeur and Durba mineralised zones will be completed by independent consultants Cube Consulting in April 2006.

Results received and not previously reported for Chauffeur/Durba are summarised in Table 1.

Company website: www.motogoldmines.com

Additional Notes:

Genalysis Laboratory Services located in Perth, Western Australia completed all assays on drill core from Chauffeur / Durba. Fire assay using a 50gm charge was used for all assays.

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).

The Information in this report that relates to Mineral Resources is based on a resource estimate compiled by Ted Coupland who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM), Mineral Industry Consultants Association (MICA) and is a Chartered Professional (Geology), and a qualified person under National Instrument 43-101. Ted Coupland is a director of Cube Consulting Pty Ltd. Ted Coupland has sufficient experience which is relevant to gold mineralisation and resource estimation to qualify as a competent Person as defined in the December 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code). Ted Coupland consents to the inclusion in this report of the Information, in the form and context in which it appears.

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 Chauffeur / Durba

------------------------------------------------------------------------
Hole UTM UTM UTM Azi- Dip Depth From To Inter- Au
_id _North _East _RL muth val g/t
------------------------------------------------------------------------
DDD088 344266 786605 890 0 -90 275 22 24.15 2 2.50
------------------------------------------------------------------------
70 78 8 16.71
------------------------------------------------------------------------
(b) 142 146 4 30.00
------------------------------------------------------------------------
172 202 30 2.88
------------------------------------------------------------------------
214 222 8 1.56
------------------------------------------------------------------------
DDD089 344250 786650 890 0 -90 257 12 18 6 4.67
------------------------------------------------------------------------
148 158 10 4.40
------------------------------------------------------------------------
168 172 4 2.30
------------------------------------------------------------------------
194 200 6 2.57
------------------------------------------------------------------------
DDD090 344224 786678 890 0 -90 239 142 150 8 2.47
------------------------------------------------------------------------
DDD091 344194 786706 890 0 -90 232.2 14 18 4 8.61
------------------------------------------------------------------------
62 68 6 1.69
------------------------------------------------------------------------
80 96 16 1.89
------------------------------------------------------------------------
190 202 12 0.76
------------------------------------------------------------------------
DDD097 344285 786740 880 225 -70 242 14 42 28 1.64
------------------------------------------------------------------------
83 87 4 1.96
------------------------------------------------------------------------
99 105 6 1.62
------------------------------------------------------------------------
DDD111 344185 786844 880 225 -70 163.75 24 72 48 9.98
------------------------------------------------------------------------
160 163.75 3.75 0.96
------------------------------------------------------------------------
DDD113 344240 786788 880 225 -70 250 0 6.1 6.1 0.62
------------------------------------------------------------------------
18 64 46 6.13
------------------------------------------------------------------------
106 108 2 1.36
------------------------------------------------------------------------
DDD114 344270 786758 880 225 -70 250 37 46 9 0.94
------------------------------------------------------------------------
54 62 8 1.34
------------------------------------------------------------------------
96 98 2 1.17
------------------------------------------------------------------------
144 154 10 11.45
------------------------------------------------------------------------
160 176 16 5.08
------------------------------------------------------------------------
204 208 4 1.93
------------------------------------------------------------------------
DDD116 344324 786935 862 225 -60 383.3 70 92 22 5.41
------------------------------------------------------------------------
118 166 48 2.63
------------------------------------------------------------------------
178 224 46 2.21
------------------------------------------------------------------------
230 246 16 1.36
------------------------------------------------------------------------
280 284 4 2.12
------------------------------------------------------------------------
312 330 18 1.15
------------------------------------------------------------------------
DDD120 344324 786935 862 0 -90 390 80 146 66 1.82
------------------------------------------------------------------------
178 180 2 1.57
------------------------------------------------------------------------
188 192 4 2.95
------------------------------------------------------------------------
210 214 4 2.29
------------------------------------------------------------------------
260 264 4 0.92
------------------------------------------------------------------------
278 300 22 2.16
------------------------------------------------------------------------
314 324 10 0.93
------------------------------------------------------------------------
366 380 14 4.72
------------------------------------------------------------------------
DDD121 344354 786902 862 0 -90 380.4 94 128 34 6.53
------------------------------------------------------------------------
178 242 64 2.91
------------------------------------------------------------------------
248 302 54 1.93
------------------------------------------------------------------------
348 350 2 3.41
------------------------------------------------------------------------
DDD124 344380 786990 858 0 -90 348.6 12.7 16 3.3 1.87
------------------------------------------------------------------------
116 130 14 2.10
------------------------------------------------------------------------
140 152 12 2.65
------------------------------------------------------------------------
230 234 4 0.98
------------------------------------------------------------------------
238 248 10 0.73
------------------------------------------------------------------------
252 268 16 1.78
------------------------------------------------------------------------
320 322 2 1.24
------------------------------------------------------------------------


Note (a) The intersected true width ranges from 90% to 100% of the intercept.

Note (b) includes 4m @ 192.52 g/t Au cut to 30 g/t Au.

Genalysis Laboratory Services located in Perth, Western Australia completed all assays on drill core from Chauffeur / Durba. Fire assay using a 50gm charge was used for all assays.


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