TORONTO, ONTARIO--(Marketwire - Aug. 22, 2007) - Centamin Egypt Limited ("Centamin" or "the Company") (TSX:CEE)(ASX:CNT)(AIM:CEY) which is developing the first large scale modern gold mine in Egypt, is pleased to announce it has intersected a further extremely high grade zone of gold during its drilling program at the Sukari project in the Eastern Desert region.
This mineralized intersection sits outside the current optimized pit shell and also outside the upgraded 9.79Moz JORC compliant resource (2.5Moz Measured, 4.0Moz Indicated, 3.3Moz Inferred) which was announced on 07 August 2007.
The high grade gold assay results were intersected in hole RCD1177 which was drilled as a step-out hole to test the down dip extension of the porphyry in the Amun zone. This hole intersected a wide high grade zone of mineralization of 65m @ 18.31g/t gold and within this was a higher grade zone of 5m @ 209.43g/t gold.
A map of the Centamin Egypt Limited Sukari Gold Project, Section 10200N, Amun Zone is available at the following web link:
http://www.ccnmatthews.com/docs/centmap1.pdf
The current drill program has been very successful in targeting the down dip extension of the Hapi zone within the main porphyry, providing significant results over the past few months of focus in the Amun Deeps area, which contributed 70% of the added material in the last announced resource upgrade.
The Hapi zone has been now been interpreted over 1.5 kilometres of strike length from the southern Amun to the Pharaoh zone in the north. This includes the very high grade intersection reported last year from RCD553 111m @ 15.06g/t from 473m. The continued expansion and robustness of the highly mineralized Hapi zone in all directions has increased the reality of accessing this zone from underground.
Drilling is currently continuing in this area and further holes are now being planned. It is expected that this Amun Deeps zone will continue to materially add to the current global resource.
A map of the Geological Plan View of the Sukari Mineralised Intrusion is available at the following web link:
http://www.ccnmatthews.com/docs/centmap2.pdf
Further assay results from this current Amun Deeps program are as follows:
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EOH From Interval Gold
Hole North East Azi Dip (m) (m) (m) (g/t)
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RCD1165 10152 10662 270 -80 719.6 343 45 2.35
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RCD1177 10198 10706 270 -87 727.10 367 65 18.31
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including 367 5 209.43
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RCD1163 10201 10649 270 -85 573.30 334 23 2.60
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including 336 3 12.73
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RCD1162 10249 10700 270 -85 570.50 347 61 2.27
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including 403 4 10.04
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For Centamin Egypt Limited
Josef El-Raghy, Managing Director/CEO
22 August 2007
Information in this report which relates to exploration, geology, sampling and drilling is based on information compiled by geologist Mr R Osman who is a full time employee of the Company, and is a member of the Australasian Institute of Mining and Metallurgy with more than five years experience in the fields of activity being reported on, is a 'Competent Person' for this purpose and is a 'Qualified Person' as defined in National Instrument 43-101 of the Canadian Securities Administrators. His written consent has been received by the Company for this information to be included in this report in the form and context which it appears. The assay samples were analysed by Ultra Trace Pty Ltd, Canning Vale, Western Australia.
FOR FURTHER INFORMATION PLEASE CONTACT:
Centamin Egypt Limited
Josef El-Raghy
+ 61 (8) 9316 2640
Email: josef@centamin.com
Website: www.centamin.com
Pelham Public Relations
Candice Sgroi
+ 44 (0) 207 743 6376 or Mobile: + 44 (0) 789 446 2114
Evolution Securities
Simon Edwards
+ 44 (0) 20 7071 4300
Website: www.uk.evosecurities.com
