Celamin Holdings NL (ASX:CNL) June 2011 Quarterly Report

Melbourne, July 22, 2011 AEST (ABN Newswire) - Celamin Holdings NL (ASX:CNL) is pleased to release the following June 2011 Quarterly Report:

Bir El Afou Phosphate PFS - Tunisia Highlights

- Diamond core drilling program (HQ/NQ) continued at Bir El Afou prospect (Blocks A, B and C) - 10 holes completed totaling 623.6m;

- Diamond core drilling program (HQ/NQ) continued at Bir El Afou (Boukechrid) prospect - 16 holes totaling 1,428.6m (Block G);

- Process testwork commenced at laboratories in Australia and Tunisia;

- Proposal received from SNCFT (Tunisia Rail) for transportation of product to Port;

- Suitable site identified and applied for at Port of Rades for ship loading;

Field Activities

Celamin's work in the Bir El Afou (BEA) permit area was not affected by the ongoing political situation.

Drilling activities were slower than planned, affected by site conditions, the overburden previously reported and the continued non-availability of reverse circulation drilling equipment in Tunisia.

The original planned drilling program of 52 holes totaling 2,570 m has been curtailed and a revised program planned of 30 holes totaling 2,555m undertaken focused on more detailed drilling at Bir El Afou (BEA) and Boukechrid prospects.

The original planned program will be completed in a later phase.

At Bir El Afou (BEA) one hole did not successfully intersect phosphate mineralization; at Boukechrid three holes did not intersect phosphate mineralization. Block faulting at the margins of mineralized blocks is currently interpreted as the cause of not intersecting mineralization at these localities.

Results received for samples sent for analysis during the quarter are still being evaluated as part of the Pre-Feasibility Study work. An announcement will be made when these results have been properly assessed in the context of the Pre-Feasibility Study. On site measurement of Specific Gravity has been undertaken for all mineralised samples.

It is currently planned to cease drilling at Boukechrid at the end of July on the commencement of Ramadan.

Resource modeling has commenced at a number of prospect sites, but will be delayed at Bouklechrid until all the drilling and analytical results are received and evaluated.

Process testwork commenced in Australia and Tunisia during the quarter and has progressed as planned. Flotation testwork results in Tunisia prepared internally will be independently evaluated using reputable, experienced International process engineers.

Environmental and Hydrological site work as planned is ongoing.

Engineering

Transportation option studies have been completed and further consultation is underway with Tunisia Rail authorities (SNCFT) and Port Authorities. SNCFT has prepared a written proposal for transportation of product from site to the Port of Rades. A suitable wharf, and rail siding site has been identified at the Port of Rades and an expression of interest made to the appropriate authorities. An option of providing locally manufactured wagons specific to the needs of this Project is also under evaluation.

Other Projects in Tunisia

Chaketma Phosphate Exploration Permit

Fieldwork commenced in this permit during the quarter with reconnaissance mapping and sampling being undertaken, at Gassaa El Kebira, Gassaa El Sghira and Kel El Louz.

Tailings

The metallurgical testwork program will commence on receipt of a testwork reagent which is currently ordered.

Oued El Kebir Project - Algeria

A site visit to plan drilling was undertaken during the quarter. Drill access roads have been largely completed. A further visit is required to locate the drillholes exactly. Three drillholes have been planned to intersect mineralisation interpreted from the past drilling in both Silver - Lead - Zinc and Silver - Gold -Copper dominant zones.

Due diligence drilling is planned to commence as soon as practicable after Ramadan.

Victorian Assets:

No work was undertaken on the Victorian gold assets.

For the complete quarterly report including figures and tables, please view the following link:
http://media.abnnewswire.net/media/en/docs/68543-ASX-CNL-358071.pdf

Contact

Melanie Leydin Company Secretary Celamin Holdings N.L Phone: +61-3-9692-7222 Email: generaladmin@victoriangoldmines.com.au http://www.victoriangoldmines.com.au