Moto Goldmines Limited
TSX : MGL
ASX : MOE
AIM : MOE

Moto Goldmines Limited

August 25, 2006 08:55 ET

Snowden Mining Consultants Validate Resources at Moto Gold Project

PERTH, WESTERN AUSTRALIA--(CCNMatthews - Aug. 25, 2006) - Moto Goldmines Limited (TSX:MGL)(ASX:MOE)(AIM:MOE) announced today that International consultants Snowden Mining Industry Consultants (Snowden) has completed an independent audit of the resource estimates and exploration procedures at the Moto Gold Project located in the DRC.

- Snowden considers the resources as estimated by Cube Consulting to be an appropriate reflection of the Moto Gold Project resource as it currently stands.

- Snowden considers the Moto resource to be a large scale and robust mineralised zone that has the potential for significant additions as further resource definition is undertaken.

- Snowden considers the core sampling and preparation procedures at the onsite preparation laboratory to be appropriate.

- Snowden concluded that the QAQC programme followed standard industry practices.

- Snowden made several recommendations to further enhance the sampling, preparation and QAQC programmes. The recommendations will be implemented to ensure that activities meet or exceed industry standards.

Project Audit

The Moto Gold Project is located in the north-east of the Democratic Republic of Congo and is a joint venture between L'Office des Mines d'Or de Kilo-Moto ("OKIMO"), Orgaman sprl and Moto Goldmines Limited (MGL or the Company).

Project feasibility activities for the Moto Gold Project commenced during the 2005 year. Cube Consulting Pty Ltd (Cube) was appointed to manage the geological resource modelling and mine planning aspects of the feasibility process in respect of the Moto Gold Project.

As part of the feasibility process and to ensure the integrity and validity of the resource estimates, MGL engaged Snowden to undertake an audit of its exploration procedures and resource estimates.

Resource estimation methodology and reporting

The current resource models were supplied to Snowden by Cube for validation of the stated resources and to allow a check of the assumptions and methodology employed by Cube.

Snowden reviewed the parameters used and assumptions made by Cube in generating the resource estimates. Snowden concluded that while there are some differences between the methodology Snowden would employ to derive estimation parameters, the differences are not material to the overall estimate as they are currently stated.

Based on models provided by Cube, Snowden also re-calculated the recoverable resources at 1 g/t Au cut off for the Pakaka, Gorumbwa, Kibali, Karagba, Durba, Chauffeur, Pamao and Sessenge gold deposits. Snowden was able to reproduce the tonnages and grades presented for each of the models supplied by Cube. Snowden concluded that the resources estimated by Cube are an appropriate reflection of the Moto resource as it currently stands.

Sampling, preparation and QAQC

Snowden completed a site visit to review the sampling, data collection and sample preparation processes.

Snowden reported that MGL's core sampling and preparation procedures at its onsite preparation laboratory were appropriate, and that MGL follows standard industry practices in its QAQC programme. Snowden presented a number of recommendations to further enhance MGL's drilling, sampling and assaying programme.

Geology

Snowden commented that Moto has acquired a good understanding of the geological framework considering the limited outcrop and the reliance on drill core.

Snowden considers the Moto resource to be located within a large scale and robust mineralised zone that has the potential to host significant additional gold resources once further resource definition is undertaken.

MGL welcomes the recommendations from Snowden and has undertaken to ensure they are appropriately implemented to ensure that its exploration processes meet or exceed industry standards.

Snowden Mining Industry Consultants

Snowden is an independent consulting firm offering services to the mining industry. These services include geological and resource modelling, mine planning, optimisation, scoping and feasibility studies, geotechnical and rock engineering, preparation of independent expert reports, valuations, due diligence reviews, training, and technology solutions.

Snowden is internationally recognized as a leading consulting firm to the mining industry.

Additional Notes:

Scientific or technical information in this news release has been prepared under the supervision of Greg Smith, Exploration Manager of the Company and a qualified person under National Instrument 43-101 and a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Greg Smith has sufficient experience which is relevant to the style of mineralisation under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code).

The Information in this report that relates to Mineral Resources is based on a resource estimate compiled by Michael Andrew who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Michael Andrew is a full time employee of Snowden Mining Industry Consultants. Michael Andrew has sufficient experience which is relevant to gold mineralisation and resource estimation to qualify as a competent Person as defined in the December 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code). Michael Andrew consents to the inclusion in this report of the Information, in the form and context in which it appears.

Caution Regarding Forward Looking Statements: Statements regarding the Company's plans with respect to developing the Moto Gold Project are forward-looking. There can be no assurance that any mineralisation will be proven to be economic, that anticipated metallurgical recoveries will be achieved, that future evaluation work will confirm the viability of deposits identified with the project or that future required regulatory approvals will be obtained.

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