GOLD MINING: Centamin builds Egypt’s first modern, large-scale pit

EGYPT — Centamin Egypt of Toronto (and Australia) has begun mining operations at its Sukari gold project in the country's eastern desert. Blasting has commenced with ore to be stockpiled ahead of the scheduled completion of the process plant in Q2 2009.

This is a significant milestone for Centamin and for Egypt. Centamin is developing the first large scale modern gold mine in Egypt on an owner-operator basis. Mining has commenced with a fleet of five Cat 785C trucks and an O&K RH120E excavator. Delivery of five more Cat 785C trucks and a second O&K RH120E excavator are scheduled for this month.

The Sukari mine has a measured and indicated resource of 9.39 million oz and an inferred resource of 3.5 million oz of gold. Using a cutoff of 0.5 g/t Au, the measured and indicated resource is 191.1 million tonnes at 1.53 g/t Au. The Inferred resource is 64.3 million tonnes at 1.7 g/t Au. Throughput at the mill will be 4.0 million t/y.

Centamin has been actively exploring in Egypt since 1995, and the Sukari mine is its principal asset. Construction began in Q2 2007. Visit www.Centamin.com to read more.