Company Information for CGA Mining Ltd

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Company Statement

CGA Mining Limited and its subsidiaries (formerly called Central Asia Gold Limited) (“the Company”) is a mining company focused on exploring, developing and operating resource opportunities throughout the world. It has been listed on The Australian Stock Exchange (ASX, code CGX) since April 1991 and on the Toronto Stock Exchange (TSX, code CGA) since 21 February 2005. The Company currently has interests in Zambia, Nigeria and a new development project, the Masbate Project in the Philippines.

Current Operations

Masbate Gold Project
CGA Mining has acquired Thistle Mining Incorporated’s (THT:AIM) (“Thistle”) interest in the Masbate Gold Project in the Philippines on 19 March 2007.

Project highlights include:

• Contained gold resource of 5.071 million ounces (Cut-off 0.7g/t)
• Probable mining reserve of 1.98 million ounces (cut-off 0.7g/t)
• At a cut-off 1.0g/t – resource grade is 2.03g/t
• Open-pit mining
• Ore throughput of 4 million tonnes per year
• Capex US$92.8 million (May 2006 BFS est)
• 12 months construction period
• Key permits including Environmental Clearance Certificate
• Re-engineering and optimisation study to be complete
• Production target of CGA post optimisation of in excess of 200 000 ounces per annum
• The Masbate Project is an extensively studied, advanced stage development project with 55, 686m of reverse circulation drilling and 58, 757m of diamond drilling.

The project has considerable scale with indicated resources of 3.3 million ounces and inferred resources of 1.77 million ounces, including a probable mining reserve of 1.984 million ounces of gold (cut-off 0.7g/t).

CGA believes that the project has very good exploration potential, both from the further conversion of existing resource ounces to reserves, and the potential to further expand the existing 5 million ounce resource base of the project.

Mkushi Copper Project
Joint Venture Partner
CGA Mining Limited (“CGA”) has entered into a Heads of Agreement with African Eagle Resources plc (“AFE”) to joint venture the Mkushi Project in Zambia. CGA will acquire a 51% interest in the project, with AFE retaining a 49% interest in the project. CGA will be responsible for funding all future work up to completion of a bankable feasibility study for each of the projects, while AFE is managing exploration initiatives outside the initial development zones, with funding proportional to the percentage interest held by each party in the project.

The joint venture partners are currently negotiating a full form joint venture agreement and awaiting approval from the Zambian Ministry of Mines for transfer of the licence into the joint venture vehicle.

Segilola Gold Project
Joint Venture Partner
CGA Mining Limited (“CGA”) has entered into a Heads of Agreement with Tropical Mines Limited (“TML”), a private company based in Nigeria, to acquire a 51% interest in the Segilola Gold Project in Nigeria, considered to be the most advanced gold exploration project in the country. TML is a Nigerian company owned 80% by local investors and 20% by the Government.

Finalisation of the formal joint venture agreement is waiting on final approval of the transfer of the licence to the new joint venture. 

Geographical Spread

Zambia, Nigeria, Philippines

Board of Directors and Key Management

Mr Mark Stuart Savage	(Chairman)
Mr Michael Joseph Carrick	(CEO, President)
Ms Justine Alexandria Magee	(Director, CFO)
Mr Paul Maxwell	(Director)
Mr Kaare Glenne Foy	(Non Exec. Director)

Company Address Level 5 The BGC Centre 28 The Esplanade PERTH, Australia 6000 Telephone: +61 8 9263 4000 Facsimile: +61 8 9263 4020 Email: info[at]cgamining.com Website: http://www.cgamining.com

Annual General Meeting Perth, Western Australia

Year End 30 June

Major Shareholders

Citicorp Nominees Pty Ltd	26.26%
Westpac Custodian Nominees Limited	14.11%
ANZ Nominees Limited	10.17%
Nefco Nominees Pty Ltd	9.07%
National Nominees Limited	7.64%

Related News

17/11/08 - CGA Mining Is Confident Of Producing First Gold At Masbate In March
08/04/08 - CGA Mining Expects To Be Producing Gold From Masbate By 2009
16/08/07 - CGA Mining’s Change Of Name And Focus Signal A Bright Future
02/02/07 - CGA Mining Plans To Buy The Masbate Gold Mine In The Philippines

Most Recent Statement

01/10/08 - Ceasing to be a substantial holder
10/07/08 - Independent NI 43-101 report lodged
08/07/08 - US$80m Project Finance Facility Fully Syndicated
26/05/08 - Project Finance Signed
14/01/08 - Progress Report
09/01/08 - Appointment of New President for Filminera Resources Corp.