Simberi Gold Corporation Drill Program

Simberi Gold Corporation (TSX VENTURE:SAU) announces that it has received confirmation that Simberi Gold Corporation has earned a 50% interest in the Simberi joint venture (subject to audit) from its joint venture partner Nord Pacific Ltd. Simberi Gold Corporation can earn an additional 1% interest in the joint venture by arranging project financing. Negotiations for a US$20 million gold facility are at an advanced stage and are expected to be completed by the end of the third quarter of this year.

The joint management committee meeting was held in Sydney, Australia on May 9, 2004 and approved a US$454,000 drill program. This drill program will consist of approximately 30 holes and is the first phase of a multi-staged program to fully delineate and expand mineable reserves at Sorowar, the largest individual gold deposit of the ten deposits that comprise the Simberi joint venture.

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.

The TSX Venture Exchange Inc. has neither approved nor disapproved the information herein contained.

SOURCE: Simberi Gold Corporation

Simberi Gold Corporation Jim Voisin (519) 699-5352