Investor Site visit, Stage 4 update and outlook

PERTH, AUSTRALIA -- (Marketwire) -- 03/28/12 -- For immediate release 28 March 2012

Centamin plc ("Centamin" or "the Company") (LSE:CEY, TSX:CEE)


Investor site visit presentation, Stage 4

Expansion and Production and Cost Outlook for 2012 and beyond

Centamin is pleased to welcome a group of investors to Sukari today and
the presentation that will be delivered is available to be downloaded
on Centamin's website on www.centamin.com/centamin/investors/
presentations-webcasts. A brief update of current status on key points
may also be found below.

Construction has commenced for the Stage 4 expansion of the process
plant. The Stage 4 expansion has been designed to include a new primary
crusher, coarse ore stockpile, milling, flotation and thickening
circuits, along with all associated infrastructure. The expansion has
been designed to increase plant throughput to approximately 10.0Mtpa.
The total capitalcost of the Stage 4 expansion is expected to be
US$287 millionwith commissioning expected first quarter 2013.

The level of gold production from the Sukarimine post the Stage 4
expansion will depend on many factors with one of the biggest drivers
being the mix between surface and underground ore delivered to the
processing plant and feed grade from those sources.

The current NI 43-101 shows a drop in head grade below 1 g/t for mined
orefrom the open pit in 2014 and 2015. In 2016 the head grade
recovers to approximately 1.2 g/t and process grade to 1.6g/t. This
preliminary mining plan is currently being re-optimised with new life
of mine schedules being run to increase the ore grade accessed from the
pit and delivered to the processing plant to between 1.10 to 1.2 g/t
consistently. It is expected that this work will be completed early
May.

Targeted tonnes and grade for ore to be moved from the underground in
2012 are 300-350,000 tonnes at 10-12g/t principally from the Amun
decline. From 2104 onwards with the introduction of both development
and stoping ore from the Ptah decline it is targeted to increase
underground feed in to be in the order of 600-650,000 tonnes.

Whilst based on the current surface and undergroundmining plan (and
combined with a very conservative build up in milling rates) production
of 500,000 ounces will be achieved by 2016 (which is in-line with
existing NI 43-101 mine plan). Optimisation is underway which
management believes will result in overall improvement in the
production outlook for 2014 and 2015 as opposed to the more modest
production levels included in the NI 43-101.

As explained previously Sukari currently benefits from the national
industry subsidy in Egypt for diesel. As compared with international
prices this has a beneficial effect of some US$ 150 per oz on the
forecast cash costs for 2012. Given the challenging fiscal conditions
that Egypt is currently experiencing it has been necessary during the
current quarter to pay the international fuel price for roughly half of
our fuel supply to ensure continuous operations whilst negotiations are
ongoing with the Egyptian Government on the path forward for fuel
subsidies. The company has the support of the Egyptian Mineral
Resource Authority in these negotiations and does not accept an instant
move to international fuel prices as a reasonable outcome. The Company
will look to recover any funds advanced thus far at this higher rate
should negotiations be concluded successfully, as anticipated.
Centamin will update shareholders on the conclusion of these
negotiations.



For more information please contact:

Centamin plc +44 (0) 20 7569 1670

Josef El-Raghy, Chairman

Katharine Sutton, Head of Investor Relations

(katharine.sutton@centamin.com)


Buchanan +44 (0) 20 7466 5000

Bobby Morse

Gabriella Clinkard






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