SOURCE: Simba Mines Inc.

September 07, 2005 08:00 ET

Simba Mines Prepares for Topographic Mapping

BAY CITY, MI -- (MARKET WIRE) -- September 7, 2005 -- Simba Mines Inc. (OTC: SBAM) -- Simba advises that its initial fieldwork and petrological studies indicate that the basement-boundary fault may have been active in the formation of the mineralization. If this is the case, the deposit could be much larger than suspected.

Detailed mapping and sampling of the fault area as well as general mapping of the areas to the north, west and south of the drilled-out area will be undertaken. This activity will include geophysical surveys and be tied in with a geochemical survey.

The licence area is covered by high quality 1:100 000 topographic mapping. Detailed geological mapping requires at least 1:25 000 maps. Photo enlargement does not provide sufficiently accurate results: a photogrammetric map has therefore been prepared from the 1:30 000 aerial photographs on which the original topographic survey was based.

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.

Contact Information

  • Contact:

    Simba Mines Inc.
    1 989 891 1274

    Investor Relations
    Greg Thaggard
    Tel: (1) 613 226 5211
    Email Contact