re: congo president backs moto NEWS RELEASEFOR IMMEDIATE RELEASE...

re: congo president backs moto NEWS RELEASE
FOR IMMEDIATE RELEASE TSX: – MGL
MAY 18, 2006 ASX / AIM: - MOE
MOTO GOLDMINES LIMITED -
CONTRACTUAL RELATIONSHIP WITH OKIMO
PERTH, WESTERN AUSTRALIA -

Moto Goldmines Limited (“Moto”) previously advised that it had entered into discussions with its joint venture partner OKIMO with the objective of simplifying
the contractual arrangements governing the Moto Gold Project and Moto acquiring a proportion of OKIMO’s direct interest in certain parts of the project.

L’Office des Mines d’Or de Kilo-Moto, a Congolese company (“OKIMO”), is a State owned mining company that is the registered holder of licences covering the Moto Gold Project.
The discussions have been delayed pending clarification of certain matters, including OKIMO engaging external consultants to assist in completing a valuation of its interests in the Moto Gold Project.

As part of this clarification process, Moto is pleased to advise that the Office of the President of the Republic has confirmed its support for Moto’s investment in the mining sector in the DRC.

The Office of the President of the Republic has also confirmed the validity of the existing contractual
arrangements governing the Moto Gold Project. This confirmation is in addition to that previously
received from the relevant Ministries of the government of the DRC responsible for OKIMO.

Moto wishes to thank the Office of the President and the Ministries for their ongoing support. Moto looks forward to working with all stakeholders, and in particular confirms its commitment to working
with OKIMO, to successfully develop the Moto Gold Project.

http://sa.iguana2.com/cache/16231d0da8570b16516292e89bc7769f/ASX-MOE-323385.pdf