Sukari Resource Upgrade

Centamin Egypt Limited
28 November 2006


                                                               28 November 2006


                             Centamin Egypt Limited

                         ('Centamin' or the 'Company')



                      SUKARI GOLD PROJECT RESOURCE UPGRADE


Centamin Egypt Limited, the dual listed gold exploration and development
company, today announces a further increase in gold resources at its Sukari Gold
project. The resource has been upgraded to 7.70 million ounces of gold, a 13% or
910,000 ounce increase over the previously announced resource in August 2006.


HIGHLIGHTS


• Sukari JORC compliant resource upgrade to 7.70 million ounces of gold


• Increase of 910,000 ounces or 13% over the August 2006 reported figure


• Discovery cost remains circa US$4/oz


• 43m @ 3.69 g/t from surface on western flank of Ra zone


• Majority of upgrade within 300m of strike in the Ra and Gazelle zones


• Potential for further significant resource addition within the same Ra /
Gazelle area



RESOURCE MODELLING


The Sukari global resource now stands at 167.18Mt @ 1.43g/t for 7.70Mt, at a
0.5g/t cut-off grade.

                   Total Resource (November 2006 - Global All Data)
                   -------------------------------------------------
           ----------       -----------       -----------         ------------
Cut-off     Measured         Indicated         Inferred                Total    TOTAL
------     ----------       -----------       -----------         ------------  -------
           Mt      g/t      Mt       g/t      Mt       g/t      Mt       g/t     Moz
        -------  ------  --------  ------  --------  ------  --------  ------  -------
 ------
  0.5    39.21    1.43     59.15    1.47     68.80    1.40    167.18    1.43     7.70
 ------  -------  ------  --------  ------  --------  ------  --------  ------  -------
  0.7    29.51    1.70     45.26    1.74     47.90    1.80    122.65    1.74     6.85
 ------  -------  ------  --------  ------  --------  ------  --------  ------  -------
  1.0    19.92    2.12     30.92    2.16     30.80    2.30     81.67    2.19     5.75
 ------  -------  ------  --------  ------  --------  ------  --------  ------  -------

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


The resources have been calculated by Hellman and Schofield Pty Ltd and are
estimates of recoverable tonnes and grade using Multiple Indicated Kriging with
block support correction. Measured Resources exist in areas where drilling is
available at a nominal 25 x 25 meter spacing, Indicated resources occur in areas
drilled at approximately 25 x 50 meter spacing and Inferred resources exist in
areas of broad spaced drilling.


The resource estimate is based on data coming from 771 diamond and RC holes
combining to give approximately 156,000 meters of drilling.


The Company is extremely pleased with this upgrade given the nature of the
drilling through the 3 months with some slow and deep holes being drilled. As
such, the upgrade exceeded our expectations during this time. The company has 9
rigs on site and is currently focusing drilling in the Ra and Gazelle zones with
significant further ounces being expected to be delivered in these areas. The
next resource upgrade will be reported no later than February 2007 with interim
drilling results expected prior to that.



For Centamin Egypt Limited






Josef El-Raghy

Managing Director

28 November 2006





For more information please contact:

Centamin Egypt Limited                                    Bishopsgate                   Evolution
                                                       Communications                  Securities
                                                                  Ltd
Ph: + 61 (8)
9316 2640                                                 + 44 (0) 20                 + 44 (0) 20
                                                            7430 1600                   7071 4300
Josef El-Raghy                                        Maxine Barnes /               Frank Moxon /
([e-mail])                                     Nick Rome               Simon Edwards
------------------
www.centamin.com                    www.bishopsgatecommunications.com     www.uk.evosecurities.com
------------------                           






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'. 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.


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. 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.



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