Moto Goldmines Limited
TSX : MGL
AIM : MOE

Moto Goldmines Limited

January 22, 2009 08:15 ET

Moto Goldmines Limited-Moto Gold Project Drill Results Demonstrate Mineral Resource Growth Potential

PERTH, WESTERN AUSTRALIA--(Marketwire - Jan. 22, 2009) -

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

Moto Goldmines Limited ("Moto" or the "Company") (TSX:MGL)(AIM:MOE) is pleased to report that the contiguous Durba / Chauffeur / Karagba ("KCD") deposit, located within the Moto Gold Project ("the Project") in the Democratic Republic of Congo, continues to demonstrate potential for further growth in high grade Mineral Resources on the basis of results of a recent diamond drilling programme.



Significant results include:

- 9.46g/t Au over 56m - 7.27 g/t Au over 106m
from 474m to 530m from 454m to 560m

- 8.52 g/t Au over 90m - 8.29 g/t Au over 60m
from 414m to 504m from 468m to 528m

- 9.01 g/t Au over 57m - 6.61 g/t Au over 106m
from 471m to 528m from 379m to 485m

- 8.20g/t Au over 40m - 10.18 g/t Au over 34m
from 396m to 436m from 351m to 385m

- 7.68 g/t Au over 72m - 18.67 g/t Au over 18m
from 510m to 582m from 508m to 526m

- 7.15 g/t Au over 72m - 6.20g/t Au over 85m
from 324m to 396m from 337m to 452m

- 6.18 g/t Au over 86m - 8.27 g/t Au over 36m
from 505m to 591m from 0m to 36m


The Company undertook an aggressive infill drilling campaign between mid 2008 and December 2008, mobilizing four diamond drill rigs to target a broad body of Inferred mineralization located at approximately 350m-550m below surface. The results from this drilling contain numerous significant high grade intersections outside the limits of the current suite of modeled Mineral Resources in the Chauffeur area of the KCD deposit. These drill results strongly support the Company's view that significant high grade underground potential remains outside the Sessenge Deeps zone. The resources within the Sessenge Deeps zone form the basis of the current underground feasibility study and are the subject of the January 21, 2009 Resource update.

Moto views the prospectivity and location of these Mineral Resources as having the potential to add significant value to development plans for the Project, particularly in respect of the underground mine which is currently the subject of a feasibility study being undertaken by SRK Consulting Pty Ltd.

The location of these Mineral Resources is expected to have positive implications for the lead time to production from underground mining at the Project and as such Moto intends to continue to prioritize activities to upgrade the geological confidence of this mineralization and anticipates that these Mineral Resources will be brought in to the development and production schedule by the time mine production commences.

A full list of drill intersections are included in Appendix B.

MINERAL RESOURCES AND RESERVES

In January 2009, Moto announced an upgrade of Mineral Resources to 112.4 Mt at 3.1 g/t Au for 11.3 Moz gold Indicated and 107 Mt at 3.3 g/t Au for 11.2 Moz Inferred. This Mineral Resource estimate was undertaken by Cube Consulting Pty Ltd ("Cube").

In December 2007, Moto announced, the completion of a Feasibility Study compiled by Lycopodium Minerals Pty Ltd (formerly Lycopodium Engineering Pty Ltd) and Cube. As part of this Feasibility Study, Cube calculated Probable Mineral Reserves of 37.8 Mt at 3.2 g/t Au for 3.9 Moz gold, sourced solely from open pit mining.

In February 2008, the Company announced the completion of an underground concept study conducted by AMC Consultants Pty Ltd ("AMC"), which modeled high-grade domains within the two Sessenge Deeps Lodes of the KCD mineralized system. Based on a 3.0 g/t cut-off grade, AMC's Preliminary Assessment concluded that the following Mineral Resources of the Project have the potential to be extracted using underground methods: 4.9 Mt at 8.9 g/t for 1.4 Moz Au in the Indicated Mineral Resource category and 30.7 Mt at 6.0 g/t for 5.9 Moz Au in the Inferred Mineral Resource category.

Additional Notes

The Moto Group undertakes geological sampling and assay in accordance with its QA/QC program which includes the use of standards, blanks and duplicates. This program was audited by Snowden Mining Industry Consultants Pty Ltd ("Snowden") in July 2006. Snowden is independent of Moto and is currently undertaking an updated QA/QC audit.

Gold assay work was undertaken by Genalysis Laboratory Services Pty Ltd ("Genalysis") in Perth, Western Australia. Genalysis is accredited under the National Association of Testing Authorities Australia for compliance with ISO/EC 17025 for Chemical Testing and is independent of the Moto Group. Assays are determined using fire assay methods with a 50 gram charge, AAS finish with a 0.10g/t Au detection limit.

Scientific or technical information in this news release has been prepared under the supervision of Greg Smith, Geological Consultant to 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 and 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.

The Information in this report that relates to Mineral Reserves is based on a resource estimate compiled by Quinton de Klerk who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM) and a qualified person under National Instrument 43-101. Quinton de Klerk is a director of Cube Consulting Pty Ltd and has sufficient experience which is relevant to gold minining and Mineral Reserve calculation 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). Quinton de Klerk consents to the inclusion in this report of the Information, in the form and context in which it appears.

All the Mineral Resource estimates and Mineral Reserve calculations referred to in this news release have been classified and reported in accordance with the 2004 Australasian Code for Reporting of Mineral Resources and Ore Reserves (2004 JORC Code). The 2004 JORC reporting guidelines are equivalent to the guidelines adopted for the Canadian National Instrument 43-101.

Caution Regarding Forward Looking Statements: Statements regarding Moto'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.



APPENDIX A

Measurement Abbreviations

g/t grams per tonne
US$ United States of America Dollars
m metre(s)
oz ounce (weight)
Moz millions of ounces
t tonnes
Mt millions of tonnes
Mtpa millions of tonnes per annum


Glossary of Terms

"Au" The Periodic Table abbreviation for the element of gold.

"diamond drilling" This technique involves a pipe encrusted in industrial
diamonds being used to drill through rock layers, with
a "core" of rock being left in the centre of the pipe.
The "core" of rock can be retrieved for logging and
sampling.
"feasibility
study" A 'feasibility study' is a comprehensive study of a
deposit in which all geological, engineering,
operating, economic and other relevant factors are
considered in sufficient detail that it could
reasonably serve as the basis for a final decision by
a financial institution to finance the development of
the deposit for mineral production (NI 43-101, Section
1.2 Definitions).

"Indicated
Mineral
Resource" An "indicated resource" is that part of a Mineral
Resource for which quantity, grade or quality,
densities, shape and physical characteristics can be
estimated with a level of confidence sufficient to allow
the appropriate application of technical and economic
parameters, to support mine planning and evaluation of
the economic viability of the deposit. The estimate is
based on detailed and reliable exploration and testing
information gathered through appropriate techniques from
locations such as outcrops, trenches, pits, workings and
drill holes that are spaced closely enough for
geological and grade continuity to be reasonably
assumed.

"Inferred
Mineral
Resource" An "inferred resource" is that part of a Mineral
Resource for which quantity and grade or quality can
be estimated on the basis of geological evidence and
limited sampling and reasonably assumed, but not
verified, geological and grade continuity. The
estimate is based on limited information and
sampling gathered through appropriate techniques
from locations such as outcrops, trenches, pits,
workings and drill holes.

"JORC Code" The Australasian Code for Reporting of Mineral
Resources and Ore Reserves, prepared by the Joint
Ore Reserves Committee of the Australasian Institute
of Mining and Metallurgy, Australian Institute of
Geoscientists and Minerals Council of Australia.

"Mineral
Resource"
or "resource" A 'Mineral Resource' is a concentration or occurrence
of diamonds, natural solid inorganic material, or natural
solid fossilized organic material including base and
precious metals, coal, and industrial minerals in or on
the Earth's crust in such form and quantity and of such
a grade or quality that it has reasonable prospects for
economic extraction. The location, quantity, grade,
geological characteristics and continuity of a Mineral
Resource are known, estimated or interpreted from
specific geological evidence and knowledge.

"Probable
Mineral
Reserve" A 'Probable Mineral Reserve' is the economically mineable
part of an Indicated and, in some circumstances, a
Measured Mineral Resource demonstrated by at least a
Preliminary Feasibility Study. This Study must include
adequate information on mining, processing,
metallurgical, economic, and other relevant factors
that demonstrate, at the time of reporting, that
economic extraction can be justified.

"qualified
person" A 'qualified person' means an individual who is an
engineer or geoscientist with at least five years of
experience in mineral exploration, mine development or
operation or mineral project assessment, or any
combination of these; has experience relevant to the
subject matter of the mineral project and the technical
report; and is in good standing of a professional
association listed n Appendix A to National
Instrument 43-101.


To view Appendix B: Significant Intercepts KCD Deposit (including Sessenge Deeps), please visit the following link: http://media3.marketwire.com/docs/MGL0122B.pdf.

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