Once the Celtic Woman Reviewed Accordis signed PTM receive

Once the unveils celtic woman pbs "Reviewed Accord"is celtic women details signed, PTM receive in full title and rights to the Kakanda tailingsand will pay to Gecamines the "Pas de Porte" (Signing Bonus). Thispayment is based on the tonnes of contained copper in the tailings and isanticipated to be US$30.00 per tonne of copper. Gecamines will alsoretain a royalty between 1.5% and 2.5% of net revenues.Gecamines will allow PTM to include all additional tailings produced fromthe Kakanda Concentrator to extend the operating life of the project. Thetechnical feasibility and economic viability of the existing tailings wasconfirmed by the existing Feasibility Study presented to Gecamines in1997. Subsequently, Simberi had an independent NI 43-101 report reviewthe feasibility and upgrade the resource estimate in early 2007.

Thisreport confirmed the results of the original feasibility.The hard rock resources that were to be developed after the tailings hadbeen mined are not included in this MOU but are the subject of continuingdiscussion with Gecamines to complete a mutually agreeable arrangementfor the development and exploitation of those resources.The provisions of this MOU and the original 1997 agreement will beintegrated into the merged JV document that will set out the final termsof the KMD joint venture Celtic Woman . Both Gecamines and PTM have agreed to maintaindialogue on the availability of other properties that may containadditional resources as the project progresses.The Mining Revisitation Program was set up to review all the foreignmining licenses in the DRC and to assure compliance with all State lawsand regulations celtic women pbs . The Revisitation Commission carried out the governmentaldecision of 20 April 2007 concerning 60 mining contracts between theCongolese state-owned companies and private enterprises celtic womam . The Commissionhad to audit the contracts and assess their impact on the DRC's publiccompanies and on national development celtic women dvd . It was also mandated to formulaterecommendations for an eventual revision of the contracts and to repairimbalances.The Commission, composed of a team of senior advisors from the relevantDRC Ministries as well as witnesses from civil society, undertook thereview as a dedicated exercise designed to maximize the benefits of thecountry's natural resources for its people, and at the same time toensure the sustainable participation of the mining companies and theirinvestors, while creating a stable and regulated environment for the DRCmining sector.Mike Newbury, President and CEO of Simberi stated: "We very pleased withthis MOU; it updates our previous agreement with Gecamines and forms aproper frame work for both parties to work co-operatively to develop theKakanda project. It addresses all outstanding matters affecting ouroriginal joint venture as well as the requirements of the MiningRevisitation Program.

We look forward to a continuing workingrelationship with Gecamines to proceed in a timely manner on the project".About Simberi:Simberi Mining Corporation is a Canadian based international mineraldevelopment company that develops a portfolio of natural resourceproperties and companies . Investment strategies are implemented throughproperty acquisitions and divestments, joint ventures, equity investmentsin private / public companies and other merchant banking strategies.Simberi's main development project is the Kakanda Copper/Cobalt projectin the Democratic Republic of the Congo celtic women cd . This is a world classcopper/cobalt deposit in the Central African Copper Belt adjacent to theTenke Fungurume project being developed by Freeport McMoRan Gold & CopperCompany and Tenke Mining Corp celtic someday . that is held in a joint venture withGecamines, the Congolese state mining company .