All Press Releases for July 08, 2005

Moto Goldmines (ASX:MOE, TSX:MGL) Identifies More Mineralisation at its Moto Gold Project in the Democratic Republic of Congo Says CEO Klaus Eckhof

Moto Goldmines (ASX:MOE, TSX:MGL) has identified further significant mineralisation at its Moto Gold Project in the north east of the Democratic Republic of Congo According to CEO Klaus Eckhof.

    /24-7PressRelease/ - July 08, 2005 - Recent drilling results from the Karagba prospect have extended the known mineralisation and identified a mineralized zone with a strike length greater than 200 metres, a thickness of up to 100 metres and a potential down plunge length of over 450 metres.

"This is an exciting prospect, with intersections of good width, which remains open along the strike and down plunges," said Klaus Eckhof, Moto Goldmines Executive Director.

Drilling results have returned impressive intercepts including six metres at 4.35 grams per tonne gold, 24 metres at 3.74 grams per tonne, 34 metres at 2.76 grams per tonne and 48 metres at just over 2 grams per tonne.

Moto already has independently estimated indicated resources of seven million tonnes at 2.7 grams per tonne gold for 600,000 ounces Au and inferred resources of 55.5Mt at 2.9 g/t Au for 5,210,000 ozs Au and plans an upgraded independent resource estimate for August of this year.

Pre-feasibility work has commenced with initial results scheduled for October 2005. Results from independent preliminary metallurgical test work are also promising, showing recoveries for oxide samples generally at or above 90 per cent.

"This is promising because when mining begins it will provide ore that is easy to process with low milling costs improving margins on a per ounce processing basis," Mr Eckhof said.

"We have four drilling rigs operating at the moment, with two at Pakaka testing extensions to the known deposits and completing infill to increase our confidence in these resources."

"The other two are at our early stage prospects, Karagba and Sessenge, and will focus on identifying future ore bodies for resource estimation purposes," Mr Eckhof said.


For Further information: Klaus Eckhof +61 411 - 148209, Thomas Murrell, 8M Media and Communications + 61 417 - 984 996 or or


· Moto Goldmines Limited was previously known as Equs Ltd, which listed on the Australian Stock Exchange on 1 January 2001.

· The previous focus of Equs was in mineral exploration, investment and development of business-to-business opportunities via the Internet.

· The new focus of Moto is to explore and add value to gold deposits in the Moto Greenstone Belt located in the Democratic Republic of the Congo.

· Directors of Moto have a long tradition and experience of exploration and mining in Africa.

· They have well established contacts in the Congo, an outstanding knowledge of the region and are using modern exploration methods and standards to develop its potential.

· The Moto project involves the Borgakim area covering nearly 5,000 square kilometers.

· Moto has exercised exclusive rights to acquire an interest in the Southern Mining Licence (SML), including the historical mines of Gorumbwa and Durba, and the Kibal Resource Area.

· The Moto deposits are typically spectacular high grade ore bodies with a strong track record. For example, Agbarabo in the region produced 600,000 ounces of gold at an average of 39 grams per tonne and Gorumbwa produced 1.2 million ounces at 22 grams per tonne with over 1 million ounces of gold still remaining.

· Moto will manage all exploration and mining activities.

· Managing Director Klaus Eckhof arrived in Australia in 1988 to work for Mount Edon Gold Mines (Aust) Limited. His considerable experience since then in assessing mineral projects all over the world has culminated in several Australian public companies acquiring exploration properties in Africa, Asia and South America. In recent years he has managed his own geological consultancy company and has developed a global network of relationships with the major gold producers, resource financiers, brokers and investors.

For Further information: Klaus Eckhof 041-1148 209, Thomas Murrell, 8M Media and Communications 0417 - 984 996

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