re: news release: moto applies to list on aim...

re: news release: moto applies to list on aim http://stocknessmonster.com/news-item?S=MOE&E=ASX&N=314853

27 pages.

Extract:
FOR IMMEDIATE RELEASE TSX: – MGL
FEBRUARY 22, 2006 ASX: - MOE
MOTO GOLDMINES MAKES APPLICATION TO LIST ON AIM
PERTH, WESTERN AUSTRALIA -

Moto Goldmines Limited (“Moto”) is pleased to announce
that it has made application to list its Common Shares for trading on the London Stock Exchange’s
AIM market (“AIM”).
Moto’s Chairman, Sam Jonah KBE said, “The AIM listing will be a further step forward in the transformation of Moto from explorer into a gold mining company. It is designed to attract additional European investors and reinforce Moto’s presence in this significant market.”

AIM is a leading global market for mid-cap companies (market capitalization US$20 to US$500
million) with exciting growth potential. There are a significant number of mid-cap mining
companies, with projects located around the world, listed on AIM. London is a global financial
center, and many institutional investors based in Europe invest in AIM listed companies. European
based institutional investors also have significant experience of investment in African and Eastern
European projects with higher risk profiles.

Moto is working towards completion of a bankable feasibility study in respect of the Moto Gold
Project in the Democratic Republic of Congo by mid 2007.

It is anticipated that project development funding for the Moto Gold Project will most likely be sourced from the North American and the European markets.
As part of the admission process, Moto appointed RFC Corporate Finance Ltd as nominated advisor and Haywood Securities (UK) Limited as broker. Moto proposes that, subject to TSX approval and
upon Moto’s admission to AIM, Moto will issue to RFC 500,000 warrants, exercisable at C$7.86
and expiring four years from the date of issue.

It is anticipated that Moto will be admitted to AIM on 24 March 2006.

A copy of Moto’s preadmission announcement is attached, is also available on Moto’s website
(www.motogoldmines.com) and has been filed on SEDAR (www.sedar.com).