Simberi Gold Corporation

Simberi Gold Corporation

March 16, 2005 16:03 ET

Simberi Approval of Allied Transaction


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: SIMBERI GOLD CORPORATION

TSX VENTURE SYMBOL: SAU

MARCH 16, 2005 - 16:03 ET

Simberi Approval of Allied Transaction

TORONTO, ONTARIO--(CCNMatthews - March 16, 2005) - Simberi Gold
Corporation (TSX VENTURE:SAU) - Simberi Gold Corporation ("Simberi")
announces that at a Special Meeting of Shareholders of Simberi of
today's date, the transaction between Allied Gold Limited and Simberi
was approved by a majority of shareholders present. The transaction
between Allied Gold Limited and Simberi deals with the sale of 37.5% of
Simberi's interest in the Simberi gold project on Simberi Island, Tabar
Island Group, Papua New Guinea (see press release dated November 16,
2004 for details of the agreement).

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.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Simberi Gold Corporation
    Norman Brewster
    (416) 815-8666
    www.simberigold.com
    The TSX Venture Exchange Inc. has neither approved nor disapproved the
    information herein contained.