Simberi Mining Corporation

Simberi Mining Corporation

March 07, 2008 08:59 ET

Simberi Announces Termination of Agreement with Amari and Appointment of a New Director and Vice-President

TORONTO, ONTARIO--(Marketwire - March 7, 2008) - Simberi Mining Corporation ("Simberi"), (TSX VENTURE:SAU) announced today that its agreement with Amari Holdings Ltd. ("AMARI") relating to the development of Simberi's interest in the Kakanda copper/cobalt project (the "Kakanda Project") in the Democratic Republic of Congo ("DRC") is terminated.

Simberi intends to continue its efforts to finalize the joint venture.

Simberi also announced today the appointment of David Danziger to its board of directors and James S. Hershaw as Vice-President, Corporate/Mineral Development.

David Danziger is currently a senior partner at Danziger & Hochman, Chartered Accountants, a full service Audit and Accounting firm specializing in the audit of public corporations as well as President of Danziger and Hochman Ltd., a management consulting and business advisory services Company. Mr. Danziger is President and Chief Executive Officer of Renforth Resources Inc., a reporting issuer on the TSXV and is also the President of Danz Financial Corporation, a registered Limited Market Dealer with the Ontario Securities Commission. He also currently serves on the Board of several public companies in the capacities of Director, Chairman of the Board and Chairman of the Audit Committee.

James S. Hershaw has 25 years of energy and mineral development expertise in Canada and Africa. Mr. Hershaw graduated from Queen's University in Mining Engineering, received his MBA from the University of Alberta and holds the Chartered Financial Analyst designation. Mr. Hershaw is a founding partner of WATT Capital with senior roles in energy and investment organizations. He has extensive experience with capital markets and flow through shares with several firms including Nesbitt Burns and Dynamic Funds.

About Simberi:

Simberi Mining Corporation is a Canada-based international mineral development company that participates in early to mid stage properties with high potential for near term production. Simberi's main exploration project is the Kakanda Copper/Cobalt project in the Democratic Republic of the Congo. This is a world class copper/cobalt deposit in the Central African Copper Belt. Simberi also has several projects in Australia; Lambina, and joint ventures on Mt. Sarah and Mt. Narlee projects are primarily located in the G-2 corridor within the Gawler Craton in South Australia, a host for the copper/uranium/gold Olympic Dam type deposits. The Merlot property located in the Mt. Margaret mineral field in Western Australia, covers a portion of the Sefton Lineament, a major structural feature that is host for copper, nickel and platinum group metals.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.

Neither the TSX Venture Exchange, nor any other securities regulatory authority has approved or disapproved of the contents of this news release.

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