Announcements - 12 July 2006

Kenmare announces progress on Moma and new Uranium exploration licences in Mozambique

At its AGM today Kenmare reported good progress on the development of its Moma Titanium Minerals Mine. The project is now 88% complete and on schedule for completion by the contractor before the end of the year. Various elements of the overall project will be completed before this time.

Kenmare also reported that the full production management team for the mine has now been recruited and is working on commissioning and ramp up programmes. The hiring and training of non-management workers is on-going with the objective of having a full complement of staff on board for taking over various elements of the project as they are released by the contractor.

While the core business of Kenmare will remain titanium minerals, the recruitment of this new project management group has allowed Kenmare to redeploy some of its exploration team. Given Kenmare’s experience, logistical capacity and standing in Mozambique, the Directors consider further exploration in Mozambique is a strategic fit for the Company. Hence, Kenmare is pleased to announce that it has been granted three uranium exploration licences covering approximately 750km2 in the Tete Province of western Mozambique. The licences which lie in the Zambezi Valley, cover an area underlain by Karoo sandstones and contain known occurrences of uranium. The licences were signed by Minister Esperanca Bias on July 11. An exploration programme will commence shortly.

For further information:

Michael Carvill
Managing Director
Tel: +353-1-671 0411
Mob: +353-87-674 0110

Murray Consultants
Elizabeth Headon
Tel: +353-1-498 0300
Mob: +353 87 989 7234

Conduit PR Ltd
Leesa Peters
+44-207-429 6600
Mob: +44 781 215 9885