MOY Moydow Mines

RNS Number:9008O
Moydow Mines International Inc
27 February 2008




                     Moydow Announces Update on Activities


FOR IMMEDIATE RELEASE
February 27, 2008

Toronto, Ontario: Moydow Mines International Inc. ("Moydow" or "the Company")
wishes to provide its shareholders with an update on the Company's key projects
and its royalty on the Ntotoroso Property, which forms part of the Newmont Ahafo
Mine in Ghana.


The Ntotoroso Royalty

In 2004, Moydow sold its interest in the Ntotoroso Property for US$40 million to
Newmont Mining Corporation ("Newmont").  As part of the transaction Moydow
retained a 2% royalty on any production in excess of 1.2 million ounces of gold
from the Ntotoroso Poperty, which now forms part of the Ahafo Mine of Newmont
Ghana Gold Limited.  Production at Ahafo commenced in the second quarter of
2006.  Since then, over 400,000 ounces of gold have been produced from the
Ntotoroso area, leaving less than 800,000 ounces to be mined before the royalty
becomes payable.  Although Newmont does not disclose reserve figures for the
Ntotoroso area separately, the Ntotoroso Property is known to contain in excess
of 2.5 million ounces of gold and may possibly have a reserve of as much as 4
million ounces.  This means that the royalty may be worth, on a undiscounted
basis, in excess of US$23 million and possibly as much as US$50 million at
current gold prices.  Prior to the sale of the property, two deep holes, 200
metres apart, drilled by Moydow to test the depth extension of one of the
deposits on the Ntotoroso Property encountered results of 10 grams of gold per
tonne over 10 metres (100 gram-metres).  Newmont has subsequently encountered
intersections in the order of 450 gram-metres at depth on the deposit, pointing
towards a large upside potential at depth.

Moydow has recently received unsolicited offers for the royalty which are
currently being considered by the  management and the Board of Directors.


Dala Diamond Project

Moydow has reached agreement with Concord Minerals LLC (Concord) whereby Concord
will sell its interest in the Dala Diamond Project in Angola to Moydow for 4
million common shares of the Company, subject to regulatory requirements.

The Dala licence comprises some 3000 square kilometres and is located in the
Lunda Sul province of north-eastern Angola, immediately adjacent to the city of
Saurimo.  The licence is bordered both to the west and east by the BHP/Petra
Diamonds' Alto Cuilo and Muriege diamond properties, respectively, and is 40
kilometres south of the Catoca Mine, the world's fourth largest producing
kimberlite diamond mine.

Moydow has mobilized a drill rig to Angola for a drilling campaign on the Dala
project.  A contract for 5,000 metres has been signed with an option to drill an
additional 5,000 metres.  The programme envisages core drilling to an average
depth of 120 metres using both HQ and NQ size core.  These large core sizes will
yield a sample sufficient enough to assess the diamond potential.

Following the acquisition of the Concord interest, Moydow will hold a 40%
interest in the kimberlite licence during the exploration phase.  Endiama will
have a 51% interest and the balance will be held by the local Angolan partner,
Cimader.

Moydow is currently negotiating with a major international mining company which
has expressed a wish to acquire an interest in the Dala Diamond Project in
return for cash, a reimbursement of expenditures and a carried interest to
completion of a feasibility study.  Although negotiations are at an early stage,
this may present a good opportunity for the Company to significantly advance
the project and ensure continued participation in this very exciting diamond
project.


The Port Loko Bauxite Project

Moydow holds a 50% interest in this project and is currently in negotiations
together with its partner, Gondwana Investments, and a third party, to consider
development options for the Port Loko deposit.  Initial exploration at Port Loko
focussed on delineating a higher grade core deposit with a view to shipping
washed bauxite ore to an external refining facility for conversion to alumina.
The recent rise in the aluminium price has led to an increase in the potential
resource base at Port Loko and has further resulted in other production
scenarios becoming more viable. The negotiations have involved a major company
that is considering a significant investment in processing facilities within
Sierra Leone.  There is no assurance that these negotiations will result in a
successful transaction.


Prospectors & Developers Association of Canada Annual Convention (PDAC)

The Company wishes to invite its shareholders to visit the our Booth, Number
2532, at the Investors Exchange at the PDAC International Convention, Trade Show
& Investors Exchange at the Metro Toronto Convention Centre, South Building, in
Toronto from March 2 to March 5, 2008.   Senior management  and directors of the
Company will be in attendance. to discuss the Company's activities.

The Company is engaged in the acquisition, exploration and development of
mineral properties worldwide.  Corporate information is available on the
Company's website www.moydow.com  The Company is listed on the Toronto Stock
Exchange and the AIM Market  of the London Stock Exchange under the symbol "MOY
". For further information please contact Michael Power, Vice President,
Corporate Development at 416-703-3751 or the Company's NOMAD for AIM, Mr.
Anthony Farrell of Davy Stockbrokers at + 353 1 679 63 63.


On behalf of the Board of Directors


"Signed"
Brian Kiernan, President and Chief Executive Officer




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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