SOURCE: Simba Mines, Inc.

September 19, 2006 08:00 ET

Simba Mines, Inc. Enters Into Definitive Agreement With Australian Forest Industries

BAY CITY, MI -- (MARKET WIRE) -- September 19, 2006 -- Simba Mines, Inc. (PINKSHEETS: SBAM) is pleased to announce that on September 18, 2006 it entered into a definitive agreement with Australian Forest Industries, Inc. (OTCBB: AUFI). Upon closing of the transaction, Simba will be allotted US$41,547,000 worth of shares in AUFI.OB in exchange for 100% of the shares of Simbajamba Mines Ltd, Simba Mines wholly owned subsidiary. The present Board of Simba will become directors of AUFI.OB.

AUFI.OB will control on closing 80% of Cachoeiras de Binga, a 3,615 square kilometre area in Angola. According to compiled reports, Cachoeiras has a measured resource of 7.3 million tonnes of ore with an average copper grade of 2.25% cu. resulting in approximately 289.7 million lbs of copper. In addition to this resource, Cachoeiras has an inferred copper resource of approximately 51 million tonnes of ore with similar average grades of copper.

Forward-Looking Statements

This news release includes comments that may be deemed forward-looking within the meaning of the safe harbor provision of the U.S. Federal Securities Laws. These include, among other things, statements about expectations of future transactions or events, revenues, sales of products and performance. Forward-looking statements are subject to risk and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to complete the transactions, which remains subject to a due diligence review by both parties, obtaining any regulatory approvals, having necessary financing in time to meet contractual obligations, developing appropriate strategic alliances, raising working capital, building a functional infrastructure, and other such risks as the company may identify and discuss from time to time. Accordingly, there is no certainty that the company's plans will be achieved.

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