MOE Moelis Australia Pty Ltd

Moto Goldmines Limited ("Moto")(TSX:MGL)(ASX:MOE) - Significant results from the extension diamond drill programme at Chauffeur / Durba include: - 22m @ 6.60 g/t Au from 0m to 22m, - 34m @ 7.21 g/t Au from 18m to 52m, - 38m @ 2.92 g/t Au from 20m to 58m, - 46m @ 4.23 g/t Au from 22m to 68m, - 24m @ 5.19 g/t Au from 180m to 204m, and - 22m @ 10.54 g/t Au from 208m to 230m. Revised independent resource estimate planned for April 2006. In November 2005 the Company announced a revised resource estimate at the Moto Gold project in the north east of the Democratic Republic of Congo. Independent geological consultants Cube Consulting Pty Limited ("Cube Consulting") estimated indicated resources of 34.34 million tonnes at 2.5 g/t for 2.81 million ounces of gold and inferred resources of 92.89 million tonnes at 2.7 g/t Au for 8.16 million ounces of gold. Recent extension drilling at Chauffeur / Durba, designed to increase the resources, has generated further significant results. CHAUFFEUR / DURBA Results for the remaining 4 holes in the 5,413m extension diamond drill programme DDD067 to DDD80 and from the first 9 holes in the 7,960m extension and infill diamond drill programme DDD081 to DDD110 have been received. These programmes targeted the up-plunge position of the Chauffeur and underlying Durba mineralised zone. Significant intercepts include: 22m @ 6.60 g/t Au from 0m to 22m in DDD093, 34m @ 7.21 g/t Au from 18m to 52m in DDD095 (includes 1.6m @ 198.48 g/t Au from 30m to 31.6m cut to 30 g/t Au), 38m @ 2.92 from 20m to 58m in DDD094, 46m @ 4.23 g/t Au from 22m to 68m in DDD096, 24m @ 5.19 g/t Au from 180m to 204m in DDD081, and 22m @ 10.54 g/t Au from 208m to 230m in DDD086. Holes DDD094, DDD095 and DDD096, located on 40m centres across the plunging mineralised zone demonstrate the excellent near surface potential of the Chauffeur mineralisation with a width to the zone of at least 120m and an average thickness of approximately 30m. DDD093 located a further 100m up-plunge from DDD094 has tested the zone at its surface position. A further 20 hole diamond drill programme, DDD111 to DDD130 totalling 7,410m has been planned as infill and extension on the Chauffeur and underlying Durba mineralisation. The drilling has shown geological continuity between the Durba and previously named Durba East mineralisation and the name Durba will now refer to all mineralisation located at this stratigraphic position. In November 2005 Cube Consulting estimated an inferred resource at Karagba of 36.70 million tonnes grading 3.1 g/t Au for 3.63 million ounces of gold. A revised resource estimate including a portion of Chauffeur and Durba will be completed by independent consultants Cube Consulting in April 2006. Results received and not previously reported for Chauffeur/Durba are summarised in Table 1. 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 Ted Coupland who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM), Mineral Industry Consultants Association (MICA) and is a Chartered Professional (Geology), and a qualified person under National Instrument 43-101. Ted Coupland is a director of Cube Consulting Pty Ltd. Ted Coupland 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). Ted Coupland 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. -0- *T Table 1 - Significant intercepts Chauffeur / Durba --------------------------------------------------------------------- Hole UTM UTM UTM Azi- Dip Depth From To Inter- Au _id _North _East _RL muth val g/t --------------------------------------------------------------------- DDD069 344425 786829 867 0 -90 380 173 174.1 1.10 1.10 --------------------------------------------------------------------- DDD071 344471 786773 874 0 -90 389 73.65 78 4.35 2.29 --------------------------------------------------------------------- 108 118 10.00 3.81 --------------------------------------------------------------------- 178 190 12.00 1.92 --------------------------------------------------------------------- 256 258 2.00 4.80 --------------------------------------------------------------------- DDD075 344479 786892 865 0 -90 281.05 0 4.7 4.70 1.75 --------------------------------------------------------------------- 3.2 4.7 1.50 0.64 --------------------------------------------------------------------- 220 222 2.00 4.97 --------------------------------------------------------------------- 266 270 4.00 1.25 --------------------------------------------------------------------- DDD076 344503 786862 865 0 -90 206 0 3.6 3.60 1.05 --------------------------------------------------------------------- 192 200 8.00 0.96 --------------------------------------------------------------------- DDD080 344640 787234 849 0 -90 554.8 251 257 6.00 4.05 --------------------------------------------------------------------- 271 297 26.00 3.26 --------------------------------------------------------------------- 307 311 4.00 1.21 --------------------------------------------------------------------- 317 319 2.00 1.62 --------------------------------------------------------------------- 327 337 10.00 1.69 --------------------------------------------------------------------- 359 363 4.00 1.43 --------------------------------------------------------------------- 411 415 4.00 2.05 --------------------------------------------------------------------- 455 463 8.00 1.06 --------------------------------------------------------------------- 485 493 8.00 20.42 --------------------------------------------------------------------- 527 531 4.00 1.72 --------------------------------------------------------------------- 535 554.8 19.80 3.41 --------------------------------------------------------------------- DDD081 344351 786872 868 225 -60 336.35 42 43.5 1.50 1.33 --------------------------------------------------------------------- 76 92 16.00 1.92 --------------------------------------------------------------------- 128 146 18.00 1.63 --------------------------------------------------------------------- 150 152 2.00 1.91 --------------------------------------------------------------------- 180 204 24.00 5.19 --------------------------------------------------------------------- 220 232 12.00 2.42 --------------------------------------------------------------------- 262 272 10.00 4.37 --------------------------------------------------------------------- DDD083 344398 786853 866 225 -60 362.5 7 10 3.00 3.39 --------------------------------------------------------------------- 92 96 4.00 1.14 --------------------------------------------------------------------- 106 110 4.00 0.98 --------------------------------------------------------------------- 216 228 12.00 1.09 --------------------------------------------------------------------- 238 240 2.00 23.26 --------------------------------------------------------------------- 254 270 16.00 4.50 --------------------------------------------------------------------- 276 280 4.00 1.96 --------------------------------------------------------------------- 306 316 10.00 1.01 --------------------------------------------------------------------- DDD084 344390 786786 880 225 -65 391.9 186 200 14 1.18 --------------------------------------------------------------------- 238 244 6 1.54 --------------------------------------------------------------------- 262 264 2 2.11 --------------------------------------------------------------------- 306 310 4 1.65 --------------------------------------------------------------------- 344 364 20 2.78 --------------------------------------------------------------------- DDD085 344310 786953 864 0 -90 362 82 106 24.00 1.26 --------------------------------------------------------------------- 156 160 4.00 1.23 --------------------------------------------------------------------- 196 210 14.00 1.32 --------------------------------------------------------------------- 240 250 10.00 1.05 --------------------------------------------------------------------- 270 280 10.00 1.11 --------------------------------------------------------------------- DDD086 344358 787006 857 0 -90 398 111 129 18.00 1.03 --------------------------------------------------------------------- 192 198 6.00 1.38 --------------------------------------------------------------------- 208 230 22.00 10.54 --------------------------------------------------------------------- 238 248 10.00 4.12 --------------------------------------------------------------------- 307 315 8.00 2.54 --------------------------------------------------------------------- DDD093 344140 786765 890 0 -90 212 0 22 22 6.60 --------------------------------------------------------------------- 56 58 2 3.40 --------------------------------------------------------------------- 155 163 8 2.15 --------------------------------------------------------------------- DDD094 344200 786830 880 225 -70 254 20 58 38 2.92 --------------------------------------------------------------------- DDD095 344223 786810 863 225 -70 398 0 4 4.00 1.08 --------------------------------------------------------------------- 18 52 34.00 7.21 --------------------------------------------------------------------- 62 66 4.00 9.51 --------------------------------------------------------------------- 88 90 2.00 2.75 --------------------------------------------------------------------- 266 278 12.00 3.89 --------------------------------------------------------------------- 324 340 16.00 1.35 --------------------------------------------------------------------- 350 354 4.00 2.83 --------------------------------------------------------------------- 380 386 6.00 1.17 --------------------------------------------------------------------- DDD096 344277 786791 868 225 -70 257.15 0 4 4.00 3.67 --------------------------------------------------------------------- 22 68 46.00 4.23 --------------------------------------------------------------------- 126 164 38.00 1.06 --------------------------------------------------------------------- 194 208 14.00 2.13 --------------------------------------------------------------------- --------------------------------------------------------------------- incl 1.6m @ 198.48 (30-31.6m) cut to 30 g/t --------------------------------------------------------------------- *T Note: The intersected true width ranges from 90% to 100% of the intercept. Genalysis Laboratory Services located in Perth, Western Australia completed all assays on drill core from Chauffeur / Durba. Fire assay using a 50gm charge was used for all assays. Moto Goldmines Limited (TSX:MGL) (ASX.:MOE)