OTTAWA, ONTARIO--(April 17, 2008) - Kinbauri Gold Corp. ("Kinbauri";;) (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) is pleased to announce the latest results from its on-going 23,000m underground drilling program at El Valle in northwestern Spain. Highlights of the assay results from the 107 Area/Black Skarn North zones include:
- 43.95m grading 3.1g Au/t, 12g Ag/t and 0.53% Cu in DDH08KV1081
including 8.7m grading 34.9g Au/t, 66g Ag/t and 0.99% Cu
- 28.6m grading 4.0g Au/t, 15g Ag/t and 0.45% Cu in DDH08KV1078
including 13.5m grading 6.5g Au/t, 20g Ag/t and 0.61% Cu
- 2.3m grading 5.1g Au/t, 126g Ag/t and 3.94% Cu in DDH08KV1075
- 1.3m grading 6.0g Au/t, 40g Ag/t and 1.52% Cu in DDH08KV1074
- 17.5m grading 2.7g Au/t, 6g Ag/t and 0.26% Cu in DDH08KV1073
including 3.2m grading 5.9g Au/t, 6g Ag/t and 0.23% Cu.
The underground infill program continues to generate excellent results. Assays as received from a further 10 diamond drill holes from the in-fill drill program are summarized as follows:
DDHs 08KV1072, 1073, 1077 and 1080 are infill holes on section 1025 (Schedule B) and continue to define the continuity of the Black Skarn North in this area. DDHs 08KV1071, 1075, 1078, and 1081 are infill holes that have been drilled into the Black Skarn North on Section 11 (Schedule A). Results from 08KV1078 and 1081 confirm the continuity of the wide (wider than 10m) high grade gold zone previously reported in hole 07KV1009R (press release of August 22nd, 2007) where Area 107 intersects the Black Skarn.
DDH 08KV1074 forms part of the infill drilling program in Black Skarn North, to the west of the Charnela Structure, where previous holes 08KV1047 (press release of February 27th, 2008) and 08KV1059 (press release of March 10th, 2008) intersected substantial thicknesses of Au-Cu-Ag bearing magnesium skarn similar to that found in hole 08KV1074 (eg 11.55m assaying 2.98g Au/t, 13g Ag/t and 045% Cu). This western extension of the Black Skarn Zone could potentially add several million tones to the El Valle resource.
The drill program is being supervised by Mr. Santiago Gonzalez-Nistral, Kinbauri Espana's senior geologist, with quality control being provided by Dr. C. F. Gleeson, P. Eng., Kinbauri's Vice-President of Exploration: both are qualified persons as defined by N.I. 43-101. Details of Kinbauri's Assay and Quality Assurance Programs are reported in a press release of February 27th, 2008. This press release was prepared by Drs V. N. Rampton, P. Eng and C. F. Gleeson, P. Eng. in their capacity as qualified persons. Dr. Rampton will record a "Beyond The Press Release" on the Company's official Investor Relations Site at http://www.agoracom.com/IR/kinbauri. The recording is expected to be available on or after April 18th, 2008.
Kinbauri is a TSXV - Tier 1 Mineral Exploration Company focused on the development of mineral properties, primarily precious metal prospects in northwestern Spain, Nevada and Canada. Its immediate focus is to expand and upgrade resources to reserves at the El Valle property in Asturias, Spain in order to start operations at the mine and existing mill complex there in 2010. It currently has 45,499,876 common shares issued and outstanding.
This press release contains certain forward-looking statements, which are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected. Kinbauri undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Visit Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri where investors can post questions and receive answers or review questions and answers already posted by other investors. Kinbauri Web-Site: www.kinbauri-gold.com
Schedule A: http://media3.marketwire.com/docs/2008-14%20Schedules%20A.pdf
Schedule B: http://media3.marketwire.com/docs/2008-14%20Schedules%20B.pdf
THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CONTACT INFORMATION:
North America
Kinbauri Gold Corp.
Darrell Munro, BB.A, LL.B,
Manager Corporate Communications
613-836-0198
dmunro@kinbauri-gold.com
or
Kinbauri Gold Corp.
Dr. Vern Rampton, P. Eng
President
613-836-2594
vrampton@kinbauri-gold.com
kinbauri@kinbauri-gold.com
or
Kinbauri Gold Corp.
Dr. Chris Gleeson, P. Eng
Vice-President Exploration
613-652-4594
cgleeson@kinbauri-gold.com
or
Europe
INVESTEL
Ruediger (Rudy) Hnyk
CEO
Investor Relations & Telecommunications
ceo@investel.de
