Simberi Mining Corporation ("Simberi"), (TSX VENTURE:SAU) announces business activities that are part of its corporate strategy during this period of capital markets volatility.

Simberi announces that its wholly owned Lambina property in Australia has been optioned to Raisama Pty Ltd ("Raisama"). This property is located in the Gawler Craton which is the host of the Olympic Dam Copper/Uranium/Gold type deposits in South Australia. Simberi has granted Raisama a twelve month option to complete the acquisition of the Lambina project in consideration of Raisama issuing to Simberi $A1 million in ordinary fully paid shares of Raisama and completing a public company listing. This transaction is part of the acquisition by Raisama of a number of high potential uranium properties that form the core for a future public company to be listed on the Australian Stock Exchange. Simberi is enhancing the value in the Lambina property by combining with a larger uranium exploration property portfolio in both South and Western Australia that will be developed by an experienced Australian based management team. In addition to Lambina, another core property already acquired by Raisama is the Sunday Creek property adjacent to the Kintyre uranium property in Western Australia that was recently acquired for $A550 million by Cameco and Mitsubishi. Sunday Creek which has known occurrences of uranium was initially discovered in the late 1970's and has not been the subject of any recent exploration. Interest in prospective uranium properties has increased with the recent election of the Liberal government in Western Australia. The Liberal party campaigned with the policy of lifting a uranium mining ban to allow exploration and development of projects to promote greenhouse gas reduction and the development of cleaner energy sources provided by nuclear energy.

Simberi announces that negotiations to finalize the joint venture agreement for the development of the Kakanda copper/cobalt project are continuing with the Democratic Republic of Congo ("DRC") government officials. PTM Minerals ("PTM") a wholly owned subsidiary holds the joint venture rights to the Kakanda project with Gecamines the State mining company. The time required to finalize joint venture terms with DRC institutions has been longer than expected due to the large number of mineral development projects and project sponsors in the DRC that are working to finalize project terms with a limited number of State officials. Significant progress is being made as PTM has been identified by the Carter Commission in November 2007 as the valid Kakanda project sponsor. Since that time draft joint venture terms have been documented and discussed with government officials. On August 30, 2008 the DRC Minister of Mines issued a notice (Ref. 01.0708/2008) under instructions from the Prime Minister directing Gecamines that it has the authority to complete negotiations with PTM and 28 other companies that have been identified as valid project sponsors. Concurrent with DRC government negotiations, Simberi is continuing to seek and review potential joint venture participants and investors with appropriate African experience to participate in the development of the Kakanda project. It should be noted that there has been significant Chinese interest in investment to develop DRC infrastructure and mineral projects and is an important positive factor that is pushing forward the pace of development in the DRC.

Simberi announces that Mr. Kyle Appleby has resigned as Chief Financial Officer to pursue other interests. Simberi greatly appreciates Mr. Appleby's time and dedication to the Corporation over the past year.

Simberi announces that Mr. James S. Hershaw is appointed as Chief Financial Officer. Mr. Hershaw has 25 years of corporate finance, development and acquisition and divestment experience with natural resource companies. He will focus on positioning Simberi to advance core projects in Africa and Australia through strategic joint ventures, securing synergist investment partners and taking advantage of merger opportunities created by recent declines in the value of mineral development properties and companies. Mr. Hershaw holds Masters of Business Administration, Chartered Financial Analyst and Engineering designations and has executive experience with the financial management, regulatory reporting, and corporate finance requirements of small cap natural resource companies.

About Simberi:

Simberi Mining Corporation is a Canadian based international mineral development company that develops a portfolio of natural resource properties and companies. Investment strategies are implemented through property acquisitions and divestments, joint ventures, equity investments in private / public companies and other merchant banking strategies.

Simberi's main development project is the Kakanda Copper/Cobalt project in the Democratic Republic of the Congo. This is a world class copper/cobalt deposit in the Central African Copper Belt that is held in a joint venture with Gecamines the State mining company Simberi also has several exploration projects in Australia. Three properties are located in the Gawler Craton in South Australia, the host for the copper/uranium/gold Olympic Dam type deposits. Another property is located in Western Australia and covers a portion of the Sefton Lineament, a major structural feature that is host for copper, nickel and platinum group metals. – Press Release