Sukari Gold resource upgrade

Centamin Egypt Limited
20 December 2005


                      Centamin Egypt Limited

             Sukari Gold Project resource upgrade



*     Contained ounces increase 47% to 4,493,882 ounces, up 1,431,173 ounces

*     Measured and Indicated ounces comprise 69% of the total resource and
      96% of the increase in contained ounces

*     Measured and Indicated grade increases 10%

*     Cost per ounce discovered for period approximately US$3



Resource Modelling and Grade Estimation:

Resource modelling and grade estimation of the Sukari geological resource was
recently completed to JORC standards by independent resource consultants,
Hellman & Schofield.

The resource has been calculated from 451 diamond and RC holes for a total of
86,581 metres of drilling up to the beginning of November 2005, an increase of
approximately 20,000 metres from the current program, and is as follows:

Gold Resource Estimate By Category - Uncut:

             Measured        Indicated      Inferred           Total
Cut-off      Mt     g/t      Mt     g/t     Mt    g/t     Mt     g/t    M oz

  0.5      28.30   1.42    37.27   1.51   25.2   1.7    90.78   1.54    4.49
  1.0      14.16   2.13    20.08   2.18   13.9   2.5    48.12   2.27    3.51

The measured resources lie in areas where drilling is available at a nominal 25
x 25 metre spacing, indicated resources in areas drilled at approximately 25 x
50 metre spacing and inferred resources in areas of broader spaced drilling and
that the resources are estimates of recoverable tonnes and grades using Multiple
Indicator Kriging with block support correction. The resource model extends from
9900mN to 11000mN and to a maximum depth of 600RL (approximately 550 metres
below surface).

The seven drill rigs on site are now focused on step out drilling to the north
and infill drilling on the top of the Amun and Ra zones.


Josef El-Raghy
Managing Director


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