Centamin Egypt Limited is pleased to announce that it has successfully closed the previously announced offering (the Offering) of ordinary shares, sold on a private placement basis through Thomas Weisel Partners Canada Inc., as agent.  An aggregate of 19,000,000 ordinary shares were issued and allotted today at a price of C$1.56 per ordinary share for aggregate gross proceeds of C$29,640,000.

Centamin intends to use the net proceeds of this financing for continued exploration activities and general corporate purposes.  The ordinary shares issued pursuant to the Offering have been issued under exemptions from the prospectus requirements of Canadian and other applicable securities laws and are subject to restrictions on resale under such laws.

Should you have any questions or queries, please do not hesitate to contact our office.

Kind regards