Simberi Gold Corporation

Simberi Gold Corporation

September 02, 2005 15:56 ET

Simberi Gold Corporation: Press Release

TORONTO, ONTARIO--(CCNMatthews - Sept. 2, 2005) - Simberi Gold Corporation (TSX VENTURE:SAU) - Further to the Company's news release dated August 29, 2005, the Company provides additional information about the exploration target at its Zanthus project.

The Zanthus project is located in the Dundas Mineral Field in the south-eastern part of Western Australia and covers part of the western margin of the Eucla Basin. The Basin is comprised of flat lying marine and continental sediments of Cretaceous and Tertiary age. Sediments in the project area range from 20 to 80 metres in thickness and overly metamorphosed igneous and sedimentary rocks of the Fraser Range metamorphic complex. Within these sediments are lignite layers up to 20.5 metres thick, with an average of 12 metres. The overburden thickness varies from 15 to 27 metres, averaging 20 metres and consists of clay to sandy gilt by recent sands and clays.

Previous exploration completed on Zanthus has been successful in identifying the occurrence of lignite beds and is outlined in an Independent Geologist's Report ("the Maynard Report"). The Maynard Report is prepared in accordance with NI43-101 and the author, Allen J. Maynard, is a Qualified Person as defined by NI43-101. However, Mr. Maynard defines the target at Zanthus under the Joint Ore Reserve Estimation Committee Code. The Zanthus project can be described as having a possible mineral deposit with a potential target from 400 to 900 million tones of lignite.

Previous drilling on the property was comprised of 5,130 metres, made up of 137 drill holes and completed on broad spaced drill pattern of 10 kilometres x 1.0 to 2.5 kilometres. Limited testing has indicated that the lignite will have (on average): an oil yield of 70 litres per tonne, a moisture content 50%, salt content 14%, ash content 28%. There has been insufficient exploration on the property and the potential quantity and grade is conceptual in nature to delineate a resource that is compliant with NI 43-101. Further exploration on the Zanthus project is required to become NI43-101 compliant and it is uncertain if further exploration will result in discovery of a mineral resource on the property.

Lignite is a material that represents an energy source that may be exploited, and with appropriate developments in technology, could provide the raw material for industrial complexes such as thermal power generation, oil extraction plants, petrochemical plants and coal conversion plants.

A copy of the Maynard Report is available on SEDAR (

Mike Newbury, P. Eng., and Chief Executive Officer of Simberi Gold Corporation, is the designated Qualified Person responsible for the preparation of this release.

Simberi Gold Corporation is a junior resource company focused on the exploration and acquisition of developed low cost precious and base metal projects internationally. The Company's objective is to aggressively explore the potential for investing in a number of precious and base metal properties with the aim to become a metal producer.

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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