PRESS RELEASE
Kinbauri Gold Corp.
110 Westhunt Drive
P.O. Box 158
Carp, Ontario K0A 1L0 CANADA
Stock Symbol: TSXV.KNB: 3KG.DE
Website: www.kinbauri-gold.com
FOR IMMEDIATE RELEASE 2008-27
KINBAURI CUTS HIGH GRADE GOLD AT EL VALLE
6.1m grading 49.8g Au/t and 0.67% Cu, including 195.0g Au/t and 0.49% Cu over 1.6m
OTTAWA, ONTARIO, July 29th, 2008: Kinbauri Gold Corp. ("Kinbauri") (Toronto: TSXV.KNB; Frankfurt: 3KG.DE) is pleased to announce more results from its on-going 23,000m underground in-fill diamond drilling program at El Valle (scheduled for completion by mid-August). Highlights of assays results include:
? 6.1m grading 49.8g Au/t and 0.67% Cu in 08KV1145,
including 1.55m grading 195.0g Au/t and 0.49% Cu
? 3.3m grading 30.9g Au/t also in 08KV1145,
including 1.65m grading 58.3g Au/t
? 4.3m grading 14.2g Au/t, 39.5g Ag/t and 0.42% Cu in 08KV1139,
including 1.4m grading 43.10g Au/t, 42.7g Ag/t and 0.08% Cu
? 9.2m grading 4.3g Au/t, 31.2g Ag/t and 0.57% Cu in 08KV1135,
including 1.35m grading 19.9g Au/t, 15.3g Ag/t and 1.07% Cu
? 21.85m grading 2.1g Au/t, 12.2g Ag/t and 0.84% Cu in 08KV1132,
including 1.55m grading 11.9g Au/t, 36.0g Ag/t and 2.51% Cu
? 21.4m grading 2.3g Au/t, 11.4g Ag/t and 0.50% Cu in 08KV1144,
including 2.5m grading 8.3g Au/t, 17.5g Ag/t and 0.47% Cu
Hole 08KV1145, which is the first hole drilled on section 8.5 of Area 107 ("107"), has yielded high gold assay values, namely 1.45oz Au/ton over 6.1m (including 5.7oz Au/ton over 1.55m), values well above the average 10.1g Au/t for 107. In-fill drilling continues in the vicinity of 08KV1145.
Hole 8KV1132, 08KV1136, 08KV1144, 08KV1147 and 08KV 1148 confirm the continuity of the gold/copper skarn mineralization in the Central and East Areas of Black Skarn North ("BSN") whereas 08KV1131 and 08KV1135 confirm the continuity in the West Area of BSN.
Assays from the latest twelve diamond drill holes are summarized as follows:
HOLE (DDH) (1) | From (m) | To (m) | Interval (m) | % (2) | Au (g/t) | Ag (g/t) | Cu (%) | Zone/Section (3) |
08KV1148 | 46.30 | 50.50 | 4.20 | " | 2.17 | 16.0 | 1.19 | BSN/1175 (B): 5 (A) |
Including | 49.10 | 50.50 | 1.40 | " | 2.81 | 24.9 | 1.61 | |
08KV1147 | 28.70 | 40.75 | 12.05 | 52 | 1.43 | 11.3 | 0.69 | BSN/1175 (B): 5 (A) |
Including | 34.60 | 38.30 | 3.70 | " | 2.21 | 14.0 | 0.97 | |
08KV1147 | 78.15 | 79.80 | 1.65 | " | 2.67 | 29.6 | 1.92 | |
08KV1147 | 103.60 | 109.30 | 5.70 | " | 1.74 | 12.6 | 0.91 | |
08KV1145 | 156.70 | 162.80 | 6.10 | " | 49.77 | 1.5 | 0.66 | 107/Sec. 8.5 (A) |
Including | 158.25 | 159.80 | 1.55 | " | 195.00 | 4.0 | 0.49 | |
08KV1145 | 173.40 | 176.70 | 3.30 | " | 30.87 | 0.6 | 0.05 | |
Including | 173.40 | 175.05 | 1.65 | " | 58.30 | 0.2 | 0.05 | |
08KV1145 | 180.90 | 182.90 | 2.00 | " | 2.57 | 0.2 | 0.00 | |
08KV1144 | 29.50 | 50.90 | 21.40 | 60 | 2.28 | 11.3 | 0.50 | BSN/1150 (B): 4.5 (A) |
Including | 31.35 | 34.35 | 3.00 | " | 4.13 | 23.4 | 0.58 | |
Including | 38.90 | 41.40 | 2.50 | " | 8.33 | 17.5 | 0.47 | |
08KV1144 | 79.10 | 94.85 | 15.75 | " | 1.25 | 9.2 | 0.41 | |
Including | 85.25 | 88.00 | 2.75 | " | 3.07 | 13.7 | 0.66 | |
08KV1144 | 101.10 | 116.50 | 15.40 | " | 0.81 | 10.7 | 0.59 | |
08KV1140 | 46.90 | 48.50 | 1.60 | 86 | 1.50 | 9.0 | 0.24 | BSN/1125 (B) |
08KV1139 | 149.10 | 151.60 | 2.50 | 87 | 2.52 | 4.6 | 0.06 | A107/1100 (B): 3 (A) |
Including | 149.10 | 150.20 | 1.10 | " | 4.26 | 0.8 | 0.03 | |
08KV1139 | 173.90 | 178.20 | 4.30 | " | 14.16 | 39.5 | 0.42 | |
Including | 173.90 | 175.30 | 1.40 | " | 43.10 | 42.7 | 0.08 | |
08KV1136 | 69.40 | 78.75 | 9.35 | 95 | 2.46 | 6.7 | 0.50 | BSN/1125 (B): 3.5 (A) |
Including | 69.40 | 72.20 | 2.80 | " | 3.72 | 7.6 | 0.15 | |
Including | 77.75 | 78.75 | 1.00 | " | 2.88 | 14.0 | 1.40 | |
08KV1135 | 106.10 | 115.30 | 9.20 | 77 | 4.29 | 31.2 | 0.57 | BSN/925 (B) |
Including | 113.95 | 115.30 | 1.35 | " | 19.91 | 15.3 | 1.07 | |
08KV1133 | 32.75 | 38.40 | 5.65 | 70 | 4.33 | 26.3 | 0.70 | BSN/1125 (B): 3.5 (A) |
Including | 32.75 | 35.55 | 2.80 | " | 7.10 | 48.5 | 1.33 | |
08KV1133 | 52.50 | 55.15 | 2.65 | " | 1.59 | 6.6 | 0.50 | |
08KV1133 | 84.50 | 87.00 | 2.50 | " | 3.91 | 21.5 | 0.82 | |
Including | 85.75 | 87.00 | 1.25 | " | 4.99 | 30.0 | 1.21 | |
08KV1132 | 34.95 | 39.25 | 4.30 | 76 | 1.82 | 6.8 | 0.21 | BSN/9.5 (A) |
08KV1132 | 54.65 | 76.50 | 21.85 | " | 2.07 | 12.2 | 0.84 | |
Including | 74.15 | 75.70 | 1.55 | " | 11.90 | 36.0 | 2.51 | |
08KV1131 | 103.05 | 104.35 | 1.35 | 68 | 2.09 | 3.0 | 0.13 | BSN/925 (B) |
08KV1131 | 110.55 | 143.40 | 32.85 | " | 1.49 | 10.2 | 0.48 | |
Including | 137.80 | 140.60 | 2.80 | " | 2.52 | 17.5 | 1.09 | |
08KV1131 | 149.40 | 154.00 | 4.60 | " | 1.60 | 7.7 | 0.53 | |
08KV1131 | 173.95 | 184.8 | 10.85 | " | 1.63 | 10.4 | 0.66 | |
Including | 177.30 | 181.00 | 3.70 | " | 2.48 | 18.0 | 1.38 | |
Including | 177.30 | 178.20 | 0.90 | " | 3.00 | 38.0 | 4.42 | |
08KV1130 | No intercepts > 2 g/t Au eq | | | | | BSN/3 (A) |
(1) See Schedules A and B for Location. (2) Percentage estimate of True Thicknesses. (3) BSN - Black Skarn North, 107 - Area 107, (A) - Schedule A, (B) - Schedule B |
The underground drill program at El Valle and Carl?s is being supervised by Mr. Santiago Gonzalez-Nistal, Kinbauri Espa?a'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 has recorded "Beyond the Press Releases" concerning assay results obtained from El Valle and Kinbauri's mine development plans on Kinbauri's official Investor Relations Site at http://www.agoracom.com/IR/kinbauri.
About Kinbauri
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 49,650,625 common shares issued and outstanding.
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.
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.
FOR FURTHER INFORMATION CONTACT:
North America
Darrell Munro, BB.A, LL.B, Manager Corporate Communications
E-mail: dmunro@kinbauri-gold.com
Tel.: (613) 836-0198
Dr. Vern Rampton, P. Eng., President vrampton@kinbauri-gold.com
E-mail: kinbauri@kinbauri-gold.com
Tel: (613) 836-2594
Dr. Chris Gleeson, P. Eng., Vice-President Exploration cgleeson@kinbauri-gold.com
Tel.: (613)652-4594
Europe
Ruediger (Rudy) Hnyk, CEO
INVESTEL
Investor Relations
E-Mail: ceo@investel.de
OR 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