Simberi Gold Corporation: Press Release

Simberi Gold Corporation (“Simberi”) – Simberi is pleased to announce that it has completed a private placement financing for aggregate gross proceeds of $2.6 million.

Simberi issued 26 million units at a price of $0.10 per unit for gross proceeds of $2.6 million. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one additional common share at an exercise price of $0.20 for a period of two years following the closing date. A finder’s fee equal to 10% of the gross proceeds or $260,000 was paid in connection with the private placement.

All shares and warrants issued pursuant to the offering are subject to a hold period until April 23, 2006.

Simberi is a junior resource company focused on the exploration and acquisition of developed low cost precious and base metal projects internationally. The company’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.

To find out more about Simberi (TSXV: SAU), please contact Mike Newbury at (416) 815-8666 or visit our website at www.simberigold.com.

Neither the TSX Venture Exchange, nor any other securities regulatory authority has approved or disapproved of the contents of this news release.

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.