Resource upgrade

Centamin Egypt Limited
08 May 2007


                      Sukari Gold Project Resource Upgrade



HIGHLIGHTS


• Sukari JORC compliant resource upgraded to 9.01 million contained ounces of gold

• Increase of 750,000 ounces above the JORC compliant resource announced in 
  February 2007

• Cost per ounce discovered to date - US$4

• Resource increase based on 3 months of drilling data

• Drilling continues with 10 rigs on site


RESOURCE MODELLING

The Sukari global resource now stands at 194.42Mt @ 1.44g/t Au for 9.01 Moz Au,
at a 0.5g/t Au cut off grade, as set out in the table below:



+---------------------------------------------------------------------------------------+
|                      Total Resource (May 2007 - Global All Data)                      |
+-------+---------------+---------------+-----------------------+-----------------------+
|       |   Measured    |   Indicated   |         Total         |       Inferred        |
|       |               |               |                       |                       |
|       |               |               |     (Measured and     |                       |
|       |               |               |      Indicated)       |                       |
|       |               |               |                       |                       |
|       +-------+-------+-------+-------+-------+-------+-------+-------+-------+-------+
|Cut-off|  Mt   |  g/t  |  Mt   |  g/t  |  Mt   |  g/t  |  Moz  |  Mt   |  g/t  |  Moz  |
|       |       |       |       |       |       |       |       |       |       |       |
+-------+-------+-------+-------+-------+-------+-------+-------+-------+-------+-------+
|  0.5  | 52.15 | 1.39  | 83.62 | 1.39  | 135.76|   1.39|   6.07| 58.7  |  1.6  |   2.94|
+-------+-------+-------+-------+-------+-------+-------+-------+-------+-------+-------+
|  0.7  | 37.37 | 1.70  | 59.67 | 1.71  |  97.04|   1.71|   5.33| 42.4  |  1.9  |   2.63|
+-------+-------+-------+-------+-------+-------+-------+-------+-------+-------+-------+
|  1.0  | 24.11 | 2.18  | 38.14 | 2.20  |  62.24|   2.19|   4.39| 27.8  |  2.5  |   2.24|
+-------+-------+-------+-------+-------+-------+-------+-------+-------+-------+-------+

     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 with block support correction. 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 a maximum depth of 350mRL (a maximum depth
of 950 metres below surface) and is based on all assay data available at 30
April 2007.

The majority of the resource has been added in the Ra and Gazelle zones from
11075N - 11225N with drilling confirming continuity of the major high grade Hapi
Zone along strike to the north.

The Company is very pleased with the continued rapid increase in the size of the
Sukari Gold deposit and there still exists the potential for further significant
resource addition within the same Ra / Gazelle and Pharaoh zones as drilling
continues northwards along strike.


For Centamin Egypt Limited


Josef El-Raghy
Managing Director/CEO

07 May 2007





For more information please contact:

Centamin Egypt Limited                            Bishopsgate Communications Ltd
Ph: + 61 (8) 9316 2640                                     + 44 (0) 20 7562 3350
Josef El-Raghy                                         Maxine Barnes / Nick Rome
www.centamin.com                               www.bishopsgatecommunications.com






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 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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