Resource upgrade

Centamin Egypt Limited
20 September 2007


                              SUKARI GOLD PROJECT

                UPGRADES RESOURCE BY 666,000 OUNCES TO 10.45 MOZ


Centamin Egypt Limited ('Centamin' or 'the Company') (TSX:CEE, ASX:CNT, AIM:CEY)
which is rapidly developing the Sukari Gold project to production, has recorded
the largest month on month resource increase since the commencement of drilling
in 1997.

Since the last resource update of 9.79 million ounces (Measured : 2.5Moz,
Indicated : 4.0Moz, Inferred : 3.3Moz), released on 08 August 2007, the resource
has risen above 10 million contained ounces.


HIGHLIGHTS

• Sukari Mineral Resource upgraded to 10.45 million contained ounces of gold

• Increase of 666,000 ounces above the Mineral Resource announced in August 2007

• Cost per ounce discovered to date - US$5

• Mineral Resource increase based on 6 weeks of drilling data

• Further high grade intersections of 2m @ 76.35g/t Au, 23m @ 6.23g/t Au and
  105m @ 4.10g/t Au

• Drilling continues with 9 rigs on site


RESOURCE MODELLING

The Sukari Mineral Resource now stands at 212.83Mt @ 1.53g/t Au for 10.45Moz Au
(Measured : 2.6Moz, Indicated : 4.2Moz, Inferred : 3.6Moz), at a 0.5g/t Au cut
off grade.

+-------------------------------------------------------------------------------------------+
|                             Mineral Resource (September 2007)                             |
+---------+---------------------+-------------------+--------------------+------------------+
|         |                     |                   |       Total        |                  |
|         |                     |                   |                    |                  |
|         |      Measured       |     Indicated     |    (Measured +     |     Inferred     |
|         |                     |                   |     Indicated)     |                  |
| Cut-off +---------+-----+-----+-------+-----+-----+--------+-----+-----+------+-----+-----+
|         |   Mt    | g/t | Moz |  Mt   | g/t | Moz |   Mt   | g/t | Moz |  Mt  | g/t | Moz |
+---------+---------+-----+-----+-------+-----+-----+--------+-----+-----+------+-----+-----+
|   0.5   |  57.43  |1.40 | 2.6 | 91.02 |1.45 | 4.2 | 148.45 |1.43 |6.84 | 64.4 | 1.7 | 3.6 |
+---------+---------+-----+-----+-------+-----+-----+--------+-----+-----+------+-----+-----+
|   0.7   |  41.13  |1.72 | 2.3 | 65.46 |1.79 | 3.8 | 106.59 |1.76 |6.04 | 47.6 | 2.2 | 3.3 |
+---------+---------+-----+-----+-------+-----+-----+--------+-----+-----+------+-----+-----+
|   1.0   |  26.50  |2.21 | 1.9 | 42.57 |2.30 | 3.1 | 69.07  |2.27 |5.03 | 32.7 | 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 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 the crest of the Sukari hill) and is based on all assay data
available at 12 September 2007.

Significant growth of the resource occurred in the last 6 weeks in the Hapi Zone
of the Amun Deeps from 10100N to 10400N. This accounted for approximately 80% of
the upgrade and further drilling is underway which will continue to add to this
highly prospective area.

Several high grade zones have previously been reported in this area and below
are two additional holes included in this upgrade.

  Hole   North   East   Azi   Dip   EOH (m)  From (m) Interval  Gold (g/
                                                         (m)       t)
RCD1166  10102  10611   270   -87   534.50     279       23       6.23
RCD1166  10102  10611   270   -87   534.50     309       68       1.89

RCD1178  10298  10758   270   -85   617.60     380       105      4.10
RCD1178  10298  10758   270   -85   617.60     500       17      12.45
                                   including   501        2      76.35


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 Amun / Ra / Gazelle and Pharaoh zones as
drilling continues.

For Centamin Egypt Limited

Josef El-Raghy
Managing Director/CEO

20 September 2007



For more information please contact:

Centamin Egypt Limited    Pelham Public Relations          Evolution Securities
+ 61 (8) 9316 2640        + 44 (0) 207 743 6376            + 44 (0) 20 7071 4300
Josef El-Raghy            Candice Sgroi                    Simon Edwards
([e-mail])
www.centamin.com          Mobile: + 44 (0) 789 446 2114    www.uk.evosecurities.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 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.



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