5 pm: Significant Increase in Gold Resource...

5 pm: Significant Increase in Gold Resource Estimate

http://stocknessmonster.com/news-item?S=MOE&E=ASX&N=305474

FOR IMMEDIATE RELEASE TSX Code – MGL
NOVEMBER 14, 2005 ASX Code - MOE

MOTO GOLDMINES ANNOUNCES SIGNIFICANT INCREASE IN GOLD RESOURCE ESTIMATE

Moto Goldmines Limited is pleased to report that an updated independent resource estimate, completed by
Cube Consulting Pty Ltd, has resulted in a significant increase in resources on the Company’s Moto gold
project in the north east of the Democratic Republic of Congo.

Estimated resources at the Moto gold project
are now:

• Indicated resources - 34.33 million tonnes at 2.5 g/t Au for 2.809 million ounces of gold; and

• Inferred resources - 92.87 million tonnes at 2.7 g/t Au for 8.158 million ounces of gold.

Highlights of the resource estimate include:
• Significant increase of 300% in indicated resources to 34.33 million tonnes at 2.5 g/t Au for
2.809 million ounces of gold.
• Significant conversion (>95%) of resources from inferred to indicated category at Pakaka and
Mengu Hill reflecting the excellent continuity of mineralized zones.

A further resource upgrade is planned for January 2006 based upon analysis of recent infill drilling results
from Gorumbwa and Karagba.

These programmes were designed to upgrade the existing resources from inferred to the indicated category.