CEE Centamin Plc

Centamin Egypt Limited ("Centamin" or "the Company") (TSX:CEE)(LSE:CEY) is
pleased to announce an increase in total reserves at the Sukari Gold Mine in
Egypt.


The total reserves have increased to 7.1 million ounces from the previously
reported 6.4 million ounces. The new mineral reserves are based on drilling up
to 01 November 2009 and a gold price of US$700 per ounce. Details of the new
reserves calculated for Sukari are listed in the table below. The reserves have
been marginally depleted using the 31 December 2009 topographic survey and
exclude material mined between April and December 2009.




----------------------------------------------------------------------------
Sukari Open Pit Mineral Reserve Estimate as at 31 December 2009 (reported at
  a cut-off grade of 0.4 g/t Au for oxide and sulphide material and 0.5 g/t 
                              for transitional)                             
----------------------------------------------------------------------------
                  Proven           Probable            Mineral Reserve      
----------- ----------------- ----------------- ----------------------------
              Tonnes     Au     Tonnes     Au     Tonnes     Au    Cont Au  
               (Mt)    (g/t)     (Mt)    (g/t)     (Mt)    (g/t)    (Moz)   
----------- ----------------- ----------------- ----------------------------
New Reserve    69.1     1.37     90.1     1.41     159.3    1.39     7.1    
----------- ----------------- ----------------- ----------------------------
Previous                                                                    
 Reserve        64      1.38      78      1.43      142     1.4      6.4    
----------- ----------------- ----------------- ----------------------------
     Note to Table: new reserve figure includes 1,167,798t @ 0.74g/t for    
            27,762ozs of stockpile material in the proven category          



The current reserve has been calculated from a Measured and Indicated resource
of 210Mt at 1.5g/t Au for 10.2 million ounces. A total Measured and Indicated
resource increase of 0.80 Million ounces has resulted in a 0.60 Million ounce
increase in total reserves.


The Sukari pit is being developed in a number of stages and the mining and
processing schedule developed for Sukari uses an elevated cutoff grade through
the early years to increase the head grade to the processing plant. It is
currently assumed that the material between this elevated cutoff grade and the
cutoff grade used for the Mineral Reserve estimate is stockpiled and treated at
the end of the project life. 


For further information please refer to our website www.centamin.com.

For Centamin Egypt Limited

Josef El-Raghy, Managing Director/CEO 

Quality Assurance and Control and Qualified Person

The information in this report that relates to ore reserves has been compiled by
Mr Andrew Pardey. Mr Pardey is a Member of the Australasian Institute of Mining
and Metallurgy and is a full time employee of the Company. He has sufficient
experience which is relevant to the style of mineralisation and type of deposit
under consideration and to the activity 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" and is a
"Qualified Person" as defined in the "National Instrument 43-101 of the Canadian
Securities Administrators" and "CIM Definition Standards For Mineral Resources
and Mineral Reserves" of December 2005 as prepared by the CIM Standing Committee
on Reserve Definitions of the Canadian Institute of Mining. Mr Pardey's 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.


Information in this report which relates to exploration, geology, sampling and
drilling is based on information compiled by geologist Mr Richard 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, and 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.


The information in this report that relates to mineral resources is based on
work completed independently by Mr Nicolas Johnson, who is a Member of the
Australian Institute of Geoscientists. Mr Johnson is a full time employee of
Hellman and Schofield Pty Ltd and has sufficient experience which is relevant to
the style of mineralisation and type of deposit 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" and is a "Qualified Person" as
defined in "National Instrument 43-101 of the Canadian Securities
Administrators". Mr Johnson consents to the inclusion in the report of the
matters based on his information in the form and context in which it appears.


Refer to the Technical Report which was filed in May 2009 for further discussion
of the extent to which the estimate of mineral resources/reserves may be
materially affected by any known environmental, permitting, legal, title,
taxation, socio-political, marketing or other relevant issue.


ABN 86 007 700 352

Centamin (TSX:CEE)
Historical Stock Chart
From Jun 2024 to Jul 2024

Centamin (TSX:CEE)
Historical Stock Chart
From Jul 2023 to Jul 2024