They are both socket 775. The cpu is a single core unit. The mobo supports Core 2 Quad/Duo / Pentium Dual-Core / Celeron. I would at least try to find a dual core processor. I understand that you are spending as little as possible but there should be some dual core options out there.
Yes they do work together, as the CPU is on the motherboards support list. However, you do understand this computer will probably be sluggish in almost every modern application? Other than that, you may assume correctly, that they are compatible. That CPU is height of 2005 technology.
The purpose of building a low spec pc is purely for me to understand how to build a pc and secondly, if something brakes i can don't have to spend too much money on replacing it. The only thing i plan on doing on the pc is running windows 7 ult 64-bit and have it running. I'm not bothered about e.g playing games or anyting it's simply an experiment for me to work with. Once i know how to build a fully working PC i'll then build a better/faster pc.
I understand what you're trying to do, the problem is its a waste of money. Building a PC isn't that "mysterious" and complicated, thats the dirty little secret that once found out will put tech students like me out of a job before I even get my degree.