Drilling Report

Centamin Egypt Limited
22 August 2007


22 August 2007


                             Centamin Egypt Limited

                                DRILLING RESULTS

              DRILL PROGRAM CONTINUES TO INTERSECT HIGH GRADE GOLD

Centamin Egypt Limited ('Centamin' or 'the Company') (ASX:CNT, AIM:CEY, TSX:CEE)
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 (6.5m oz Measured and
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.


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.


Further assay results from this current Amun Deeps program are as follows:

  Hole     North     East     Azi     Dip    EOH (m)  From (m)   Interval   Gold (g/t)
                                                                    (m)
 RCD1165   10152    10662     270     -80     719.6      343        45         2.35
 RCD1177   10198    10706     270     -87    727.10      367        65        18.31
                                            including    367         5        209.43
 RCD1163   10201    10649     270     -85    573.30      334        23         2.60
                                            including    336         3        12.73
 RCD1162   10249    10700     270     -85    570.50      347        61         2.27
                                            including    403         4        10.04


Some of this information has been diagrammatically represented and is available
for review at the company's website www.centamin.com


For more information please contact:


Centamin Egypt Limited
+ 61 (8) 9316 2640
Josef El-Raghy ([e-mail])


Pelham Public Relations
+ 44 (0) 207 743 6376
Candice Sgroi
Mobile: + 44 (0) 789 446 2114


Evolution Securities
+ 44 (0) 20 7071 4300
Simon Edwards
www.uk.evosecurities.com


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.







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