Simberi Gold Corporation: Press Release

Simberi Gold Corporation (TSX VENTURE:SAU) - Further to the Company's news release dated October 24, 2005, the Company is providing additional information about the copper/cobalt project at Kakanda, located in the Democratic Republic of Congo ("DRC").

The Kakanda project is located approximately 120 kilometers northwest of Lumbumbashi in the African copper/cobalt belt in the province of Katanga. This zone also includes a number of other major copper/cobalt developments such as Tenke Fungurume (Tenke Mining Corp.) and the Kolwezi Tailings Project (Adastra Minerals).

In 1997, International Panorama Resource Corp. engaged Bateman Minerals & Industrial Limited in conjunction with Steffen, Robertson and Kirsten (SRK) to complete a feasibility study that concluded the Kakanda project was technically feasible and economically viable at that time. The resource estimate for the study was completed by SRK. SRK estimated the defined tailings resource at 18.4 million tonnes containing 1.22% copper and 0.15% cobalt. The study also delineated a mineable open pit resource of 11.3 million tonnes containing 3.14% copper and 0.19% cobalt. Both of these resources were incorporated in Batman's operating plan.

This study was completed before the implementation of NI 43-101 and therefore is not compliant, additional review and evaluation will have to be undertaken in order to comply with NI 43-101. The Corporation believes that Bateman and SRK are technically competent and has comfort in the reliability of this study.

Mike Newbury, P. Eng., and Chief Executive Officer of Simberi Gold Corporation, is the designated Qualified Person responsible for the preparation of this release.

Simberi Gold Corporation is a junior resource company focused on the exploration and acquisition of developed low cost precious and base metal projects internationally. The Corporation's objective is to aggressively explore the potential for invest in a number of precious and base metal properties with the potential to become a metal producer.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.

SOURCE: Simberi Gold Corporation

Simberi Gold Corporation Mike Newbury (416) 815-8666 www.simberigold.com