Drilling Report

Centamin Egypt Limited
21 November 2007




        NEW HIGH GRADE ZONE AT AMUN DEEPS DISCOVERED WITH 22m @ 21.83g/t


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
mineralization 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 6.84 Moz Measured and Indicated resource (Measured
2.6Moz, Indicated 4.2Moz), and 3.6 Moz Inferred resource, which was announced on
20 September 2007.


The high grade gold assay results were intersected in hole RCD1221 which was
drilled as a step-out hole to test the down dip extension of the porphyry in the
Amun zone on northing 10525N. This hole intersected a high grade zone of 22m @
21.83g/t Au from 549m, containing a higher grade zone of 8m @ 58.58g/t Au with
visible gold from 559m.


The intersection is a high grade structure parallel to and below the Hapi Zone.
This deeper structure correlates to 6m @ 15.21g/t Au in hole RCD521 from 542m
25m north on 10550N and an adjacent, extremely high grade looking zone
containing abundant visible gold and sulphide, intersected in recently drilled
hole RCD1280 (assay results are awaited).


Hole RCD1279, a further 100m north on 10650N, has also intersected thick, highly
mineralised porphyry with quartz veins containing several visible gold grains in
a similar zone at depth and assays are also pending for this hole.  Pending the
assays awaited and infill drilling, this is consistent with the continuity along
strike of the high grade Amun Deeps mineralization and the presence of another
significant high grade structure beneath the Hapi Zone.


The current drill program has been very successful in targeting the down dip
extension of the Hapi zone and deeper parallel high grade structures within the
main porphyry, providing significant results over the past few months of focus
in the Amun Deeps area. It remains the Company's strategy to drill further the
Amun Deeps zone to add significant ounces to the global gold resource.


Further recent 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)

 RCD1173    10000      10675       270        -77         571         384         26         3.59
 RCD1174    10100      10665       270        -85         579         371         104        1.59
 RCD1225    10125      10662       270        -87        586.7        366         83         1.95
                                                       Including      380          3         15.83
 RCD1187    10450      10750       270        -70        452.7        299         51         4.45
 RCD1221    10525      10800       270        -85        666.2        393         22         2.01
                                                                      455         26         3.07
                                                                      549         22         21.83
                                                      Including       559          8         58.58


For Centamin Egypt Limited

Josef El-Raghy

Managing Director/CEO

21 November 2007


For more information please contact:


Centamin Egypt Limited                    Pelham Public Relations                  Ambrian Partners Limited

+ 61 (8) 9316 2640                         + 44 (0) 207 743 6376                      + 44 (0) 207 776 6400

Josef El-Raghy                                 Candice Sgroi                                  Richard Brown

www.centamin.com                       Mobile: + 44 (0) 7894 462 114


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, 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 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.


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