Moto Goldmines Limited
TSX : MGL
AIM : MOE

Moto Goldmines Limited

December 08, 2006 08:54 ET

Moto Goldmines Limited: Further Significant Results From Ongoing Extension Diamond Drill Programme

PERTH, WESTERN AUSTRALIA--(CCNMatthews - Dec. 8, 2006) - Moto Goldmines Limited (TSX:MGL)(AIM:MOE) -

The Durba / Chauffeur / Karagba deposits again demonstrate their potential with further significant results from the ongoing infill and extensional diamond drill programme. Results include:

- 24m at 7.59 g/t Au from 144m to 168m,

- 28m at 4.27 g/t Au from 170m to 198m,

- 30m at 5.58 g/t Au from 196m to 226m,

- 30m at 3.78 g/t Au from 188m to 218m and

- 18m at 7.32 g/t Au from 76m to 94m.

The Sessenge Deeps mineralised zone shows excellent potential to add significantly to the resources. Significant intercepts include:

- 40m at 10.54 g/t Au from 474m to 514m,

- 38m at 6.65 g/t Au from 482m to 520m,

- 32m at 7.17 g/t Au from 458m to 490m,

- 50m at 4.24 g/t Au from 512m to 562m,

- 98m at 5.35 g/t Au from 476m to 574m,

- 24m at 10.94 g/t Au from 582m to 606m,

- 44m at 3.30 g/t Au from 466m to 510m,

- 68m at 5.82 g/t Au from 444m to 512m, and

- 62m at 5.12 g/t Au from 548m to 610m.

Moto Goldmines Limited ("the Company") is pleased to report further significant results from the ongoing extension diamond drill programme on the Moto Gold Project in the north east of the Democratic Republic of the Congo. The Moto Gold Project is a joint venture between L'Office des Mines d'Or de Kilo-Moto ("OKIMO"), Orgaman sprl and the Company.

In August 2006 the Pre-Feasibility Study (PFS) of the Moto Gold Project in the Democratic Republic of Congo (DRC) was completed. The PFS demonstrates the project's robust economics, long life and world class potential.

During the same month Snowden Mining Consultants ("Snowden") completed a review which concluded that Snowden considers the resources as modeled by independent geological consultants Cube Consulting Pty Limited ("Cube Consulting") are an appropriate reflection of the Moto Gold Project resource as it currently stands and that Snowden considers the Moto resource to be a large scale and robust mineralised zone that has the potential for significant additions as further resource definition is undertaken.

In November the Company announced that Cube Consulting estimated indicated resources of 65.49 million tonnes at 2.9 g/t for 6.163 million ounces of gold and inferred resources of 97.22 million tonnes at 4.0 g/t Au for 12.365 million ounces of gold. The most recent rate of conversion of inferred to indicated resources has been approximately 100% within the key deposits.

Recent drilling at Durba / Chauffeur / Karagba and Sessenge Deeps designed to both infill and increase the resources for the purposes of feasibility work, has generated further significant results.

DURBA / CHAUFFEUR / KARAGBA

This set of stacked deposits continue to demonstrate the world class potential of the Moto Gold Project. Recent infill and extensional drilling results confirm the previous results. It is anticipated the ongoing extension and infill drill programme will result in the conversion of resources from inferred to indicated and an increase of the total resource base.

Significant intercepts from recent infill drilling include: 24m at 7.59 g/t Au from 144m to 168m in DDD172, 28m at 4.27 g/t Au from 170m to 198m in DDD175, 30m at 5.58 g/t Au from 196m to 226m in DDD218, 30m @ 3.78 g/t Au from 188m to 218m and 22m at 4.25 g/t Au from 238m to 260m in DDD219. These holes have demonstrated the excellent continuity of the Chauffeur mineralization down plunge below the prefeasibility study design pit.

Further drilling 275m to the northwest of the main Chauffeur mineralization on the edge of the designed pit has returned significant intercepts including: 10m @ 3.19 g/t Au from 100m to 110m in DDD232 and 18m at 7.32 g/t Au from 76m to 94m in DDD233. It is planned to complete all drilling required on this zone prior to the end of December 2006 to enable inclusion of these resources in the bankable feasibility study.

The November 2006 resource modelling by Cube Consulting included estimations on the Karagba, Chauffeur and Durba mineralised zones as follows. These estimations do not take account of the results which are the subject of this news release. At Karagba indicated resources of 6.23 million tonnes at 2.6 g/t for 523,000 ounces of gold and inferred resources of 21.13 million tonnes at 3.2 g/t Au for 2.142 million ounces of gold. At Chauffeur indicated resources of 21.88 million tonnes at 3.4 g/t for 2.407 million ounces of gold inferred resources of 34.91 million tonnes at 5.8 g/t Au for 6.533 million ounces of gold. At Durba inferred resources of 4.66 million tonnes at 2.5 g/t Au for 376,000 ounces of gold.

Significant results received and not previously reported for Durba-Chauffeur-Karagba are summarised in Table 1 in the detailed announcement (a copy of which is available on the Company's website www.motogoldmines.com). Infill and extension diamond drilling is ongoing. A further resource upgrade is planned for the first quarter of 2007 based upon analysis of further infill drilling results from Durba-Chauffeur-Karagba.

SESSENGE DEEPS / SESSENGE

At Sessenge Deeps the previously reported diamond drill hole DDD173 intersected 60m @ 14.71 g/t Au from 482m to 542m in the projected down plunge stratigraphic position of the Sessenge mineralisation. Further significant results have been returned from this mineralized zone. These include: 40m at 10.54 g/t Au from 474m to 514m in DDD129, 38m at 6.55 g/t Au from 482m to 520m in DDD130, 32m at 7.17 g/t Au from 458m to 490m and 50m at 4.24 g/t Au from 512m to 562m in DDD172, 98m at 5.35 g/t Au from 476m to 574m and 24m at 10.94 g/t Au from 582m to 606m in DDD175, 68m at 5.82 g/t Au from 444m to 512m and 62m at 5.12 g/t Au from 548m to 610m in DDD219.

This mineralization has potential to significantly increase the resource base of the Moto Gold Project. All holes in the infill / extension programme at Chauffeur have been extended a further 150m to intercept the Sessenge Deeps mineralisation.

All results have been received for the extension and twin drill programme on the shallower portion of the Sessenge mineralisation. The twin holes demonstrated an excellent correlation with the results of the previous RC programme.



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Diamond RC
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SDD024 18.15m @ 5.04 (0-18.15m) SRC078 24m @ 3.81 (0-24m)
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SDD025 14m @ 2.99 (0-14m) SRC016 14m @ 3.45 (0-14m)
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SDD026 24m @ 3.48 (0-24m) SRC002 26m @ 4.36 (0-26m)
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SDD027 32m @ 3.15 (0-32m) SRC039 32m @ 2.96 (0-32m)
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Significant results received from shallower drilling at Sessenge are summarised in Table 2 in the detailed announcement while results from holes DDD129, 130, 172, 175 and 219 are included in Table 1, Durba / Chauffeur / Karagba (in the detailed announcement - a copy of which is available on the Company's website www.motogoldmines.com).

The November 2006 resource modelling by Cube Consulting included an estimation on the Sessenge mineralised zone of 6.68 million tonnes at 2.5 g/t for 540,000 ounces of gold and inferred resources of 0.74 million tonnes at 2.4 g/t Au for 58,000 ounces of gold. This estimation does not take account of the results which are the subject of this news release.

Further details with respect to these results are included in the detailed announcement, a copy of which is available on the Company's website www.motogoldmines.com.

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).

The Information in this report that relates to Mineral Resources is based on a resource estimate compiled by Rick Adams who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM) and a qualified person under National Instrument 43-101. Rick Adams is a director of Cube Consulting Pty Ltd. Rick Adams 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). Rick Adams 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.

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