Progress Update

RNS Number : 5501M

Centamin Egypt Limited

26 May 2010

Centamin Egypt Limited ("Centamin" or "the Company")

(LSE:CEY, TSX:CEE)

PROGRESS UPDATE

Centamin Egypt Limited is pleased to provide a brief update on progress at the Sukari Gold Project in Egypt.

Stage 2

Sulphide float and regrind circuit commissioning activities were completed during April with no major issues being encountered in ramping up to full production rates. First sulphide ore was fed into the Stage 2 circuit during late April and gold was produced from Stage 2 after only 8 days. Concentrate regrind, reagent usage rates, throughput and recoveries are all performing in line with design expectations.

Stage 3 Expansion

Design and engineering activities are well underway with orders placed for two Sandvik Hydrocone CH870 C secondary crushers and two Joest double deck multislope secondary screens. Multiple tenders have also been issued for further ancillary equipment. The Stage 3 expansion is targeting an increase plant throughput to 5Mtpa and remains scheduled for completion mid 2011.

Stage 4 Expansion

A scoping study is underway to determine the optimum process flow route for a plant expansion up to 10Mtpa. Initial test work has indicated a number of crushing and grinding alternatives exist to achieve this outcome. Upon completion of the study, in the second half of 2010, detailed design, costing and engineering, and ordering of long lead time items will commence. Stage 4 completion is targeted to occur in 2012.

The Company remains on track to produce 200,000 ounces of gold in 2010.

For Centamin Egypt Limited

Josef El-Raghy

Chairman

26 May 2010

For more information please contact:

Centamin Egypt Limited

+ 203 5411 259 or + 61 8 9316 2640

Josef El-Raghy

www.centamin.com

Buchanan Communications Limited

+ 44 (0) 207 466 5000