Sukari Drilling Update

Centamin Egypt Limited
13 December 2005




                             SUKARI DRILLING UPDATE

• New mineralisation encountered beneath sand cover off the Sukari Hill

• Drill assays indicate top of Amun Zone previously treated as waste and
  pre-strip is mineralised

• Ra Zone mineralisation continues to confirm continuity with the Amun Zone

• Higher grade broad mineralisation continuing at depth

• New resource calculation underway

• Seven rig drilling program continues

• Significant gold intersections:-

RC 366   12m @ 3.82 g/t                  RC 406  6m @ 5.07 g/t
         39m @ 2.65 g/t                         41m @ 3.69 g/t
         15m @ 4.32 g/t

RC 370 74.5m @ 4.63 g/t                  DD 408 26m @ 4.23 g/t
                                                 2m @ 13.55 g/t
RC 388   30m @ 3.65 g/t
         (including 3m @ 20.78 g/t)      DD 410  6m @ 3.91 g/t
         24m @ 9.70 g/t                          1m @ 21.60 g/t
         (including 1m @ 185.00 g/t &           72m @ 2.30 g/t
          9m @ 23.78 g/t)                        7m @ 5.78 g/t

RC 391   14m @ 3.93 g/t                  RC 416 23m @ 6.92 g/t
         35m @ 4.21 g/t                         (including 11m @ 12.53 g/t)
                                                 5m @ 3.97 g/t
RC 395    1m @ 573.00 g/t                   


Southern Extension of the Amun Zone

Recent drilling carried out on the wadi floor up to 100 metres south and to the
east of the Sukari outcrop has encountered extensive intersections of high grade
mineralisation.

To-date ten drill holes have been drilled and the following significant assays
returned:-

DD 326     46m @ 2.00 g/t
            3m @ 9.39 g/t (previously reported)
RC 370      4m @ 5.09 g/t
         74.5m @ 4.63 g/t
           10m @ 2.48 g/t
            4m @ 3.40 g/t
RC 372  13.15m @ 3.56 g/t
            6m @ 7.71 g/t
RC 383      7m @ 8.48 g/t
RC 416     13m @ 2.80 g/t
            6m @ 2.88 g/t
           23m @ 6.92 g/t (including 11m @ 12.53 g/t)
            5m @ 3.97 g/t

Mineralisation is related to intense sulphide and sericite veining within the
altered porphyry with a relatively high percentage of arsenopyrite and pyrite
present in the core.

These holes continue to demonstrate the extensiveness of the system and have
been drilled outside of the existing resource.

Infill and Step Out Drilling Programme:

Amun Zone:

Other significant assays continue to be returned from the ongoing infill and
step out programme on the Sukari hill. Drill holes 394, 399, 400, 401, 405, 406,
408, 413, 414 and 415 tested the upper portion of the Amun Zone between 10250N
and 10375N.

This area has previously had limited drilling due to the steep terrain and as a
consequence had previously been treated as waste in determining the current
geological resource and also as a large component of pre-strip in scoping
studies. Drilling confirmed the strike and dip continuity of the high grade
historic Main Reef, previously worked by the ancients.

RC 394          11m @ 2.08 g/t
RC 399           4m @ 5.88 g/t 
                 5m @ 2.83 g/t
RC 400           4m @ 1.90 g/t
                 4m @ 2.57 g/t
RC 401           8m @ 3.53 g/t
RC 405          10m @ 2.23 g/t
                 8m @ 4.21 g/t
RC 406           6m @ 5.07 g/t
                41m @ 3.69 g/t
DD 408          26m @ 4.23 g/t
                 2m @ 4.14 g/t
                 2m @ 13.55 g/t
RC 413           5m @ 2.78 g/t
                 5m @ 19.21 g/t
                 4m @ 4.47 g/t
RC 414           3m @ 3.73 g/t
                 4m @ 4.89 g/t
RC 415          10m @ 3.64 g/t
                17m @ 2.56 g/t

The high grade mineralised zones are related to the Main Reef which is a
laminated and brecciated quartz vein. On the hangingwall and footwall side of
the Main Reef, gold mineralization is related to typical Sukari quartz stockwork
mineralization and altered porphyry (dominantly sericite and silica).

Ra Zone:

Drill holes 387, 403 and 410 were drilled in the Ra Zone from 10875N to 10925N.
Gold mineralisation is related to quartz veining and alteration of the porphyry
with kaolinite and silica the main alteration minerals. This is well displayed
in the broad run of mineralisation in hole 410 (72m @2.30g/t).

RC 387         3m @ 3.69 g/t
              18m @ 1.89 g/t
               4m @ 2.59 g/t
DD 403        19m @ 1.55 g/t
               4m @ 2.14 g/t
              21m @ 1.59 g/t
DD 410         6m @ 3.91 g/t
               1m @ 21.6 g/t
              72m @ 2.30 g/t
               7m @ 5.78 g/t

Below the Planned Pit Floor:

Holes 386, 388, 389, 391, 395 and 402 confirm the continuity and strength of
mineralisation within the porphyry at depth and along strike from 10125N to
10750N (625m). Mineralisation within this area was previously undefined and
outside of the current resource. Gold is related to typical Sukari
mineralisation assemblages, that being shearing, quartz veining, stockworks and
alteration, typically sericite with zones of kaolinite.

RC 386                47m @ 1.26 g/t
                       4m @ 4.08 g/t
RC 388                30m @ 3.65 g/t (including 3m @ 20.78 g/t)
                      24m @ 9.70 g/t (including 1m @ 185 g/t and 9m @ 23.78 g/t)
RC 389                 9m @ 2.47 g/t (including 3m @ 5.43 g/t)
                      13m @ 1.75 g/t
RC 391                14m @ 3.93 g/t
                      35m @ 4.21 g/t
                       8m @ 2.08 g/t
DD 395                11m @ 2.86 g/t
                       1m @ 573 g/t
                       7m @ 2.77 g/t
RC 402                 8m @ 9.09 g/t
                       4m @ 14.02 g/t

The company has instructed Hellman and Schofield, independent resource
consultants, to recalculate the current Sukari gold resource to JORC standards.
The new resource figure is expected in the next 14 days.

See the attached schedule for significant gold intersections from assays
received since the September 2005 Quarterly Report.



For more information please contact:

Josef El Raghy or Heidi Brown
Managing Director/CEO Company Secretary
Tel: + 61 8 9316 2640 Tel: + 61 8 9316 2640
Fax: + 61 8 9316 2650 Fax: + 61 8 9316 2650
[e-mail] [e-mail]
www.centamin.com

ASX Listing Rules 5.10

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.

The information in this report that relates to mineral resources is based on
information compiled by Mr Gary Brabham, a member of the Australasian Institute
of Mining and Metallurgy. Mr Brabham was employed by Hellman & Schofield Pty Ltd
a consultancy primarily concerned with estimation of mineral resources
worldwide. Mr Brabham is a Competent Person under the meaning of the J.O.R.C.
code with respect to the mineralisation being reported in this report. Mr
Brabham has more than five years' experience in the mining industry and has
given his consent to the public reporting of this information in the section
headed Resource Increase.

For this report, measured resources lie in areas where drilling is available at
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. The resource model extends to 750RL (approximately 400 metres
below surface), and resources are estimates of recoverable tonnes and grades
using Multiple Indicator Kriging with block support correction.

Appropriate check sampling has been undertaken to verify the gold assays used in
this estimate.
Significant Gold Intersections since the September 2005 Quarterly Report

Hole No.   North   East    Az    Dip   From (m)   To (m)   Width (m)   Grade (Au g/t)
 DD326     10078   10591   268   -74        170      216          46             2.00
                                            303      306           3             9.39

 DD361     10778   10470    27   -70        101      114          13             3.82

 RC366     10547   10577   277   -70        139      151          12             3.82
                                            206      245          39             2.65
                                            283      298          15             4.32

 RC370     10025   10518   270   -88        133      137           4             5.09
                                          149.5    224.0        74.5             4.63
                                            230      240          10             2.48
                                            247      251           4             3.40

 DD371     10850   10430   270   -90         34       39           5             5.57

 RC372     10049   10528   268   -68     192.85    206.0       13.15             3.56

 RC378     10228   10512   266   -58         80      180         100             1.75

 DD379     10527   10572   270   -63        129      138           9             2.90
                                            205      216          11             2.49

 DD382     10601   10559   272   -62        208      229          21             2.20

 RC383      9945   10537   270   -70        190      196           6             7.71
                                            235      242           7             8.48

 RC386     10130   10617   270   -85        200      247          47             1.26
                                            281      285           4             4.08

 DD387     10926   10852   270   -45        225      228           3             3.69
                                            235      253          18             1.89
                                            269      273           4             2.59

 RC388     10302   10644   258   -82        244      274          30             3.65
  incl                                      265      268           3            20.78
                                            294      318          24             9.70
  incl                                      295      296           1           185.00
  incl                                      294      303           9            23.78

 RC389     10452   10753   270   -65        293      302           9             2.47
  incl                                      299      302           3             5.43
                                            336      349          13             1.75

 RC391     10604   10832   265   -64        381      395          14             3.93
                                            401      436          35             4.21
                                            445      453           8             2.08

 RC394     10275   10410   270   -60         69       80          11             2.08

 DD395     10750   10808   270   -55        196      207          11             2.86
                                            352      353           1           573.00
                                            371      378           7             2.77

 RC399     10300   10410   272   -63         77       81           4             5.88
                                             87       92           5             2.83

 RC400     10325   10410   270   -60          3        7           4             1.90
                                             42       46           4             2.57

 RC401     10350   10400   270   -63         71       79           8             3.53

 RC402     10685   10858   270   -56        450      458           8             9.09
                                            492      496           4            14.02

 DD403     10871   10680   270   -60         50       69          19             1.55
                                            120      124           4             2.14
                                            147      168          21             1.59

 RC405     10375   10400   270   -60         59       69          10             2.23
                                             78       86           8             4.21

 RC406     10375   10450   270   -60         63       69           6             5.07
                                            105      146          41             3.69

 DD408     10255   10429     0   -90         92      118          26             4.23
                                            237      239           2             4.14
                                            246      248           2            13.55

 DD410     10870   10680   270   -75        104      110           6             3.91
                                            128      129           1            21.60
                                            325      397          72             2.30
                                            443      450           7             5.78

 DD411     10925   10850   270   -20         47       55           8             2.59

 RC413     10348   10438   270   -62         75       80           5             2.78
                                             94       99           5            19.21
                                            123      127           4             4.47

 RC414     10324   10434     0   -90         96       99           3             3.73
                                            135      139           4             4.89

 RC415     10300   10445   270   -60         95      105          10             3.64
                                            112      129          17             2.56

 RC416     10000   10523   270   -83        159      172          13             2.80
                                            196      202           6             2.88
                                            212      235          23             6.92
  incl                                      217      228          11            12.53
                                            243      248           5             3.97







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