Resource Upgrade

Centamin Egypt Limited
20 December 2007


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

                          (TSX:CEE, ASX:CNT, AIM:CEY)



                      SUKARI GOLD PROJECT RESOURCE UPGRADE



             7.46 MOZ MEASURED AND INDICATED, PLUS 3.7 MOZ INFERRED



HIGHLIGHTS



* The Sukari Mineral Resource upgraded to 7.46 Moz Measured and Indicated, plus
3.7 Moz Inferred



* An increase of 0.62 Moz Measured and Indicated ounces and 0.04 Moz Inferred
ounces above the Mineral Resource announced in September 2007



* The resource increase is based on additional assay results from approximately
15,000 metres of drilling received from 12 September 2007 to 12 December 2007



* Drilling continues with 9 rigs on site



RESOURCE MODELLING


                                       Total Resource (December 2007)


               Measured            Indicated                  Total                       Inferred

 Cut-off                                             (Measured + Indicated)
             Mt        g/t       Mt        g/t       Mt        g/t       Moz       Mt        g/t       Moz
   0.5      60.10     1.41      99.87     1.48     159.96     1.45      7.46      64.0       1.8       3.7
   0.7      43.01     1.73      72.25     1.81     115.26     1.78      6.61      47.6       2.2       3.3
   1.0      27.66     2.22      47.20     2.33      74.86     2.29      5.52      32.9       2.8       2.9



Note to Table: Figures in table may not add correctly due to rounding



The resources are estimates of recoverable tonnes and grades using Multiple
Indicator Kriging ('MIK') with block support correction. Typically, measured
resources lie in areas where drilling is available at a nominal 25 x 25 metre
spacing, indicated resources occur in areas drilled at approximately 25 x 50
metre spacing and inferred resources exist in areas of broader spaced drilling.
The resource model extends from 9700mN to 12200mN and to an approximate depth of
350mRL (approximately a maximum depth of 950 metres below the crest of the
Sukari hill) and is based on all assay data available at 12 December 2007. The
sampling from an additional 15,000 metres of drilling (primarily diamond drill
core) has been added to the resource sampling data set used in the new mineral
resource estimate.



The Measured and Indicated Mineral Resource has increased by 0.62 Moz and by 9%
to 7.46 Moz, from 6.84 Moz (20 September 2007), showing the effectiveness of the
infill drilling. South of 11300N the resource is 6.68 Moz Measured and Indicated
plus 3.0 Moz Inferred; 90% of the total Measured and Indicated resource at
Sukari is south of 11300N.



The majority of the resource growth occurred within the Amun Deeps and Ra/
Gazelle Zones, both testing the Hapi Zone and parallel mineralized structures.
Some of the high grade intersections in the estimate included at 10450N - 51m @
4.45g/t from 299m (RCD1187), 10525N - 22m @ 21.83g/t from 549m (RCD1221) and
11200N - 43m @ 5.01g/t from 593m (D1240). Other significant intersections are in
the table below.



Drilling will continue to test the Hapi Zone and related structures in the Amun
Deeps, Ra/Gazelle and Pharaoh Zones with 9 rigs on site.



Significant high grade samples included in December 2007 Resource:


    Hole       North       East       Azi        Dip       EOH (m)    From (m)   Interval (m)     Gold (g/t)
  *RCD1173     10000      10675       270        -77         571         384          26             3.59
  *RCD1225     10125      10662       270        -88        586.7        366          83             1.95
  RCD1224      10175      10665       270        -87        556.5        338         10.3            36.09
  RCD1228      10275      10700       270        -73        467.1        298          61             4.35
  RCD1228      10275      10700       270        -73        467.1        434           4             36.62
   D1271       10425      10700       270        -77        481.8        297          42             2.75
  *RCD1187     10450      10750       270        -70        452.7        299          51             4.45
  *RCD1221     10525      10800       270        -85        666.2        455          26             3.07
  *RCD1221     10525      10800       270        -85        666.2        549          22             21.83
   D1240       11200      10700       270        -77        652.2        462          58             4.32
   D1240       11200      10700       270        -77        652.2        593          43             5.01
  *RCD756      11425      10620        0         -90        877.5        791          58             3.76



Note: Intervals shown in the table are down hole intercepts, drilled at high
angles relative to the internal mineralized structures and the Sukari Porphyry.



* Denotes assay intersections previously announced on 06 and 21 November 2007.



Please note that the full version of this announcement, including pictures and/
or charts will be available on the Company's website www.centamin.com.



For Centamin Egypt Limited







Josef El-Raghy
Managing Director/CEO
19 December 2007



For more information please contact:


Centamin Egypt Limited
+ 61 (8) 9316 2640
Josef El-Raghy


Pelham Public Relations
Te l : + 44 (0) 207 743 6672, Mobile : + 44 (0) 7977 297 903
Charles Vivian


Ambrian Partners Limited
+ 44 (0) 207 776 6400
Richard Brown





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.



Refer to the Technical Report which was filed in March 2007 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.



Incorporation By Reference - This press release is incorporated by reference in
Centamin Egypt Limited's final short form prospectus dated 18 December 2007
filed with the securities regulatory authorities in each of the provinces of
Canada (except for Quebec).


                      This information is provided by RNS
            The company news service from the London Stock Exchange