SOURCE: Simba Mines Inc.

August 31, 2005 08:00 ET

Simba Mines Inc. Has F Removed

BAY CITY, MI -- (MARKET WIRE) -- August 31, 2005 -- Simba Mines Inc. (OTC: SBAMF) -- Simba Mines Inc. advises that in accordance with the resolution of shareholders at the Special Meeting held on July 29, 2005, the domicile of Simba has now transferred from Canada to the USA.

Approval has been given for the removal of the F from Simba's trading symbol effective September 1, 2005.

About Simba

Simba holds, through its subsidiaries, an 80% interest in the Cachoeiras de Binga licence in Angola, covering 3615 sq. km in Angola, through its wholly owned subsidiary Sociedade Mineira Simba Jamba LDA. Work to date has established a measured and inferred resource of 58.1 million tonnes at 2.14% copper which is a contained copper resource of 1.3+ million tonnes. The sharing split is Simba 80% and Angolan nationals 20%.

Mining of the resources will be undertaken through conventional heap leaching plus solvent extraction electro mining SXEW to produce LME grade copper cathode.

Initial plant production capacity is planned to be 20,000 tonnes per annum (approximately 44 million lbs) with capital costs estimated at US $35 million. Following upgrading confirmation of the geological resource, it is anticipated that the plant capacity will be increased in Year 3 to 40,000 - 50,000 tonnes per annum (approximately 88 - 110 million lbs of copper). The mine is located near the coast with much infrastructure already in place.

Forward-Looking Statements

The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, the Private Securities Litigation Reform Act of 1995. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.

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