TORONTO, ONTARIO--(Marketwire - Nov. 10, 2011) - Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to announce that it has closed its previously announced brokered and non-brokered private placement financings (the "Offerings"). The Company issued 51,950,000 common shares at a price of C$0.20 per common share, for gross proceeds of C$10,390,000. Clarus Securities Inc. acted as exclusive agent in respect of the brokered offering. Insiders of the Company acquired 18,150,000 common shares under the non-brokered placement. The Company paid aggregate commissions and finder's fees of C$448,000 in connection with the Offerings. 

All of the securities issued under the Offerings will be subject to restrictions on resale for four months. 

Proceeds from the Offerings will be used to fund exploration and for general corporate purposes. 

The securities referred to in this press release have not been and will not be registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the issuer of the securities and its management, as well as financial statements.