Kilo Goldmines Ltd.

Published : July 17th, 2017

Announces Drilling Results: Adumbi Extended Down Dip

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Kilo Goldmines Announces Drilling Results: Adumbi Extended Down Dip
TORONTO, ONTARIO--(Marketwired - July 17, 2017) - Kilo Goldmines Ltd. ("Kilo" or "KGL" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to provide the results of its completed drill programme to test the down dip extension at the Adumbi Prospect, as well as an update on regional exploration activities on its Imbo Licence (PE9691) falling within the Ngayu greenstone belt in the north-eastern Democratic Republic of Congo ("DRC").


� Results from four holes drilled to test the depth extensions of the Replaced Rock ("RP") Zone confirm that the Adumbi mineralization extends down dip to at least 375 m below surface (i.e. about 100 m deeper than defined by previous drilling).
� Width of the mineralization is continuing with depth at similar grades and includes an intersection of 23.45 m @ 6.08 g/t, with visible gold observed in three of the holes.
  Significant RP Zone intersections in each hole are:
  � SADD0050: 434.73 - 447.42 m = 12.69 m @ 5.51 g/t Au (Including 5.49 m @ 9.67 g/t Au)
  � SADD0051: 393.43 - 402.72 m = 9.29 m @ 4.09 g/t Au
  � SADD0052: 389.72 - 401.87 m = 12.15 m @ 3.24 g/t Au
                    419.15 - 428.75 m = 9.60 m @ 5.04 g/t Au
� SADD0053: 346.36 - 355.63 m = 9.27 m @ 3.71 g/t Au
                   391.72 - 415.17 m = 23.45 m @ 6.08 g/t
� Further mineralogical studies and metallurgical test work is planned to assess the economic potential of the RP Zone.
� The stream sediment (BLEG) sampling programme, intended to identify and prioritise regional exploration targets on five other exploration licences (which cover 240 km� within the Ngayu Belt), is nearing completion.

Drilling - Adumbi Prospect

Previous drilling at the Company's Adumbi prospect (currently with an Inferred Resource of 19.11 Mt @ 2.2 g/t Au for 1.362 Moz of gold) identified a zone of relatively high grade mineralization termed the Replaced Rock (or RP) Zone. The RP Zone is associated with intense alteration and structural deformation that has completely destroyed the primary lithological characteristics of the host rock, and was initially traced along strike for 840 m and down dip to 275 m below surface (Figure 1).

The average true width and weighted average grade of all previous drill hole intersections in the RP Zone is 4.91 meters at 5.44 g/t Au, with the central 480 m of strike averaging 6.41 meters @ 6.25 g/t Au. The RP Zone is seen to have potential for underground exploitation, and establishing depth continuity could add significantly to the Company's resource base. A program of four drill holes totalling 1,776 m was therefore recently completed, with the objective of testing the down-plunge extensions of relatively high grade shoots within the RP Zone, at depths approximately 100 m vertically below the previous deepest intersections (Figures 2 and 3).

The RP Zone was intersected in all four of the new drill holes (SADD0050, SADD0051, SADD0052 and SADD0053, Figures 4 - 7) and comprises Banded Iron Formation (BIF) which has been intensely silicified and sulphidised. Pyrite, pyrrhotite and arsenopyrite occur in varying proportions, and comprise up to 40% of the rock. There is a general, positive, correlation between the amount of sulphides and gold grade, with arsenopyrite frequently associated with higher grade gold values. Visible gold was locally observed in the RP Zone in three drill holes. Less intensely altered rock occurs outside the RP Zones, and also locally carries significant gold grades. Analytical results for the RP and other significant intersections are summarised in Table 1, and completes the results for all drilling to date.

The results show that the RP Zone extends down dip to at least 375 m below surface (i.e. about 100 m deeper than defined by previous drilling) and that the width and grade of the mineralization is continuing with depth. The data also supports the interpretation that the higher-grade shoots within the RP Zone dip steeply to the NW at about 80�. In order to further assess the economic potential of the RP zone, mineralogical studies to determine gold deportment are planned, followed by metallurgical test work.

Table 1.

Other Exploration

A stream sediment (BLEG) sampling programme is underway on 5 licence areas within the Ngayu belt, with the objective of identifying and prioritising targets for follow-up by soil sampling. A planned programme of a total of 315 sampling sites on PE137, PE138, PE140, PE9692 and PE9695 (Figure 8) has been completed and sample preparation is underway prior to submission to an SGS laboratory in Ireland for analyses.

Exploration is also planned in the eastern part of the Imbo Licence, where stream sediment and rock chip sampling indicate an extension of the Adumbi/Kitenge/Manzako mineralized trend over a strike of about 7 km (see the Company's press release of September 23, 2015). The programme will entail soil sampling at 40 m intervals along 160 m-spaced lines, and will be accompanied by geological mapping, rock chip sampling, channel sampling and trenching/augering.

To view Figures 1-8, please visit the following link:

Qualified Person

Howard Fall, B.Sc., PhD, MAusIMM, QP (Geo) is the �qualified person� (as such term is defined under National Instrument 43-101) of Kilo and has reviewed the scientific and technical information contained in this release.

About Kilo

Kilo Goldmines Ltd. is a Canadian gold exploration company that is listed on the TSX Venture Exchange under the symbol 'KGL' and on the Frankfurt Exchange under the symbol '02K'. The Company holds about 2,417 km� of prospective Archaean Kibalian greenstone in the Kilo-Moto area in the Democratic Republic of the Congo.
Incorporated within these licences is:
  • the Somituri project (71.25% owned by KGL), comprising six contiguous licences (361km�) held by KGL-Somituri SARL
  • the KGL Isiro SARL Joint Venture (JV) with Randgold Resources Ltd (2,056 km�), for gold and associated minerals only. The JV is managed by Randgold and financed by it to a pre-feasibility (PFS) for a 51% participation interest. Upon completion of the PFS, KGL can participate in funding or Randgold will increase its participation to 65% by completing a Feasibility Study. Areas which may be deemed of no interest to Randgold will be returned to KGL.
KGL has retained the rights to explore for and develop iron ore resources and other minerals associated with the licences held by KGL Isiro SARL.

For further information, please contact:

Philip Gibbs
Interim CEO
+1 416 360 3406

This news release may contain forward looking statements concerning future operations of Kilo Goldmines Ltd.. All forward looking statements concerning Kilo�s future plans and operations, including management's assessment, project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond Kilo�s control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the �U.S. Securities Act�) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.

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Kilo Goldmines Ltd.

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Kilo Goldmines is an exploration gold company based in Canada.

Its main exploration properties are ERW, SOMITURI and MASTERS in Congo Dem. Rep. of.

Kilo Goldmines is listed in Canada. Its market capitalisation is CA$ 7.6 millions as of today (US$ 6.1 millions, € 5.0 millions).

Its stock quote reached its highest recent level on April 16, 2010 at CA$ 5.90, and its lowest recent point on October 16, 2015 at CA$ 0.04.

Kilo Goldmines has 169 700 000 shares outstanding.

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Financings of Kilo Goldmines Ltd.
11/14/2011Closes C$10.4 Million Private Placement
Option Grants of Kilo Goldmines Ltd.
11/19/2010Grants Stock Options
Nominations of Kilo Goldmines Ltd.
2/7/2012Announces Appointment of Vice President Operations
2/2/2012Announces Change to Board of Directors
1/4/2012Appointment of New Director
Project news of Kilo Goldmines Ltd.
1/19/2016Randgold signs three new joint ventures in Congo
6/25/2013(Somituri)Gold Geochemistry Anomalies Delineated on Four Other Licence...
6/17/2013(Somituri)1100 Metre Gold Geochemistry Anomaly Delineated at Adumbi We...
4/9/2013(Somituri)Recommences Drilling Operations on its Somituri Project, DRC
4/12/2012(Somituri)Announces Preliminary Metallurgical Test Work Results on Adu...
3/15/2012Announces Updated Mineral Resource Estimate; Gold Grade Incr...
2/3/2012(Somituri)Registration Completed for Kilo's Somituri Property
1/25/2012Drill Results for Kilo / Rio Tinto DRC Iron Ore JV
9/6/2011to Issue Shares to Satisfy SIHU Property Payment Obligation
6/28/2011(Somituri)Announces Exploration Update of the Somituri Project, DRC
2/24/2011(Somituri)Drilling Intersects 3.51g/t Gold Over 31.30 Metres on the Ad...
1/5/2011(Somituri)Drilling Intersects 2.38 g/t Gold Over 89.45m on the Adumbi ...
Corporate news of Kilo Goldmines Ltd.
7/28/2016Kilo Goldmines Announces Private Placement and Closing of Fi...
7/14/2016Kilo Goldmines Announces Favourable Court Ruling Regarding T...
3/17/2016Kilo Goldmines Announces Grant of Stock Options
3/10/2016IIROC Trading Resumption - KGL, KGL.WT
3/10/2016Kilo Goldmines Shareholders Vote Against Somituri Joint Vent...
3/10/2016IIROC Trading Halt - KGL, KGL.WT
1/20/2016Kilo Goldmines and Randgold Resources Announce Signing of Jo...
1/19/2016Kilo Goldmines and Randgold Resources Announce Signing of Jo...
12/28/2015Kilo Goldmines Announces Closing of Private Placement
11/19/2015Kilo Goldmines Announce $2M Non-brokered Private Placement
10/16/2015Randgold CEO expects new Congo projects by early 2016
9/23/2015Kilo Goldmines Announces Results of Stream Sediment Sampling...
6/3/2015Kilo Goldmines Announces Exploration Update and Grant of Sto...
4/24/2015Kilo Goldmines Ltd.: Corporate Update
2/5/2015Kilo Goldmines Ltd.: Exploration Activities Update
12/19/2014Kilo Goldmines Announces Grant of Stock Options
12/18/2014Kilo Goldmines Announces Grant of Stock Options
11/18/2014Kilo Goldmines Ltd.: Exploration Activities Update
10/8/2014Kilo Announces Appointment of New Interim CEO
7/28/2014Additional Targets Delineated on the Kilo - Randgold Joint V...
6/23/2014Kilo Goldmines Ltd.: Exploration Activities Update
6/6/2014Liberty Street Capital Corp. Proposes Eight Directors to the...
6/2/2014Kilo Goldmines Announces Corporate Update
10/1/2013announces Cost Cutting Implementation
9/30/2013Cost Cutting Implementation
7/22/2013Primary Targets Defined on Joint Venture Ground With Randgol...
3/20/2013Completes $10 Million Unit Offering
3/11/2013Announces Pricing for Previously Announced Offering
2/15/2013Files Amended Disclosure Documents
1/31/2013Files Preliminary Short Form Prospectus for Offering of Comm...
1/14/2013(Somituri)Intersects 4.07 m Grading 17.25 g/t Gold at Manzako Prospect...
12/6/2012and Randgold Resources Sign Joint Venture Agreement
11/2/2012Intersection of 5.80 m Grading 42.24 G/T Gold, in a 700 m Op...
3/9/2012Announces Election of New Director
2/21/2012(Somituri)Drilling Intersects 3.09 g/t Gold Over 33.68 m on Adumbi Gol...
1/9/2012(Somituri)Drilling Intersects 4.96 g/t Gold Over 11.20 Metres (Includi...
1/5/2012Rio Tinto Makes Payment of US$1.43 Million to Kilo under Isi...
11/28/2011Comments on Reports of Award of Afghan Iron Ore Concession B...
11/2/2011Announces That C$10 Million Private Placement is Fully Alloc...
10/18/2011Announces Financings to Raise up to C$10 Million
10/13/2011(Somituri)Drilling Intersects 7.71 g/t Gold Over 12.60 metres; Defines...
9/1/2011(#KGL) announces CEO transition and grant of stock options
8/23/2011(Somituri)Drilling Intersects 3.86 g/t Gold Over 34.30 Metres on the A...
7/7/2011Announces Changes in Management and Board
6/30/2011(Somituri)Announces 31.70 Metres Grading 4.39 g/t Gold on the Manzako ...
5/26/2011Adopts Shareholders Rights Plan
5/12/2011Completes $10 Million Unit Offering
5/4/2011Files Final Short Form Prospectus for Offering of Units
4/25/2011Files Preliminary Short Form Prospectus for Offering of Unit...
3/2/2011Announces 2.0 Million Ounces Gold ...
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