CGA Mining Limited – Announcement to the Australian Securities Exchange and Toronto Stock Exchange

PERTH, Western Australia, Mar 27, 2008 (Canada NewsWire via COMTEX) — MINING CONTRACT FOR THE MASBATE GOLD PROJECT AWARDED TO LEIGHTON

CONTRACTORS

The Boards of CGA Mining Limited, Filminera Resources Corporation (“FRC”) and Phil. Gold Processing and Refining Corp. are pleased to announce that they have executed a 6 year mining contract with Leighton Contractors (“Leighton”), one of Australia and Asia’s pre-eminent and most highly regarded contractors, for the Masbate Gold Project in the Philippines. Leighton will provide the full mining fleet and associated equipment and will provide mining and technical services for the project.

It is anticipated that Leighton Contractors will commence on site activities in relation to the tailings storage facility this month. The initial work will comprise the construction of Stage 1 of the main embankment to a height of 20m above the natural ground level (final height to accommodate known reserves is 51m). This work is expected to be completed by end of August 2008. The equipment will then transfer to pioneering activities relating to the development of the open pit mining operations.

Leighton has been operating in Asia since 1975, and has a unique combination of local knowledge and extensive international experience which has made them the region’s international contractor of choice.

The Asian operations have an annual revenue in the region of over US$300 million and employ almost 2,500 people in Asia. Leighton is Australia’s largest project development and contracting group with annual revenues exceeding US$10 billion, current work in progress of A$24 billion and has been involved in the mining and resources market since the 1940′s.

Today, the Group is the world’s leading contractor miner, mining in excess of 100 million tonnes of iron ore and 100 million tonnes of coal each year, across Australia and Asia. They operate and maintain a fleet of owned and leased mining plant and equipment, currently worth over US$1.9 billion.

We are pleased to welcome Leighton as the mining and technical services provider for the Masbate Gold Project. They will work under an alliance agreement which has been successfully applied at a number of other mines. The alliance agreement is designed to maintain unlimited flexibility with all aspects of mining, total transparency of costs and provide the safest and lowest mining cost per tonne.

The contract includes standard industry terms and conditions including the right to terminate and the right to buy out the mining fleet at written down value at any time after the first anniversary of the date of commencement of the works, providing the opportunity of moving to an owner operation at FRC’s election.

Cautionary Note Regarding Forward Looking Statements

This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding anticipated dates for construction and production, and other milestones related to the Masbate Gold Project and other projects; estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; and CGA’s future operating or financial performance, are forward-looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from CGA’s expectations include uncertainties related to fluctuations in gold and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the development of the Masbate Gold Project; the need to obtain additional financing to develop the Masbate Gold Project; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for the Masbate Gold Project; and other risks and uncertainties disclosed under the heading “Caution Regarding Forward-Looking Statements” in CGA’s Annual Information Form for the year ended 30 June 2007 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com.

SOURCE: CGA Mining Limited

Enquiries: Australian Contact: President & CEO – Michael Carrick, Tel: +610 8
9263 4000, Fax: +61 8 9263 4020, Email: mcarrick@cgamining.com; US Contact: Chairman
- Mark Savage, Tel: (505) 344-2822, Fax: (505) 344-2922, Email:
marksavage@comcast.net

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