Simberi Hold Annual and Special Shareholder Meeting

Simberi Gold Corporation. (“Simberi” or the “Corporation”) announces that it held its Annual and Special Meeting of Shareholders on Monday, July 24, 2006 at the Ontario Bar Association Conference Centre. Several items of business were discussed.

Board of Directors
The proposed slate of directors were elected to the Board. Michael Newbury, John Cerenzia, Maurice Stekel, Geoffrey Farrar and William Potter were elected as directors of the Corporation for the ensuing year or until their successors are elected or appointed.

Officers
The officers of the Corporation for the ensuing year are as follows:

Board Committees
The Corporation also set out its board committees fro the ensuing year. The Audit Committee will be made up of Neil Novak, Maurice Stekel and John Cerenzia. The Compensation Committee will consist of Geoff Farrar, Maurice Stekel and John Cerenzia. The Corporate Governance Committee will consist of Maurice Stekel, John Cerenzia and Neil Novak.

Appointment of Auditors
McCarney Greenwood LLP, Chartered Accountants were appointed auditor of the Corporation to hold office until the close of the next annual meeting of shareholders or until their successors are appointed and that the directors are authorized to fix their remuneration.

Change of Name of the Corporation
The board of directors was empowered to change the name of the Corporation from “Simberi Gold Corporation.” to “Simberi Mining Corporation” The change will become effective upon the amendment of the Articles of the Corporation.

Amendments to the Stock Option Plan
The Board withdrew this proposed resolution. 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 investing in a number of precious and base metal properties with the aim to become a metal producer. Simberi currently has properties in Australia and the Democratic Republic of Congo.

To find out more about Simberi Gold Corporation (TSX-V: SAU), please contact Mike Newbury at (416) 603 - 7200 or visit our website at www.simberigold.com.

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.