Kinbauri Gold Corp.
110 Westhunt Drive P.O. Box 158
Carp, Ontario K0A 1L0 CANADA
Stock Symbol: TSXV.KNB: 3KG.DE
FOR IMMEDIATE RELEASE 2008-25
KINBAURI ENGAGES SCOTT WILSON ROSCOE POSTLE ASSOCIATES FOR SCOPING STUDY AT EL VALLE/CARLES
OTTAWA, ONTARIO, June 27th, 2008: Kinbauri Gold Corp. ("Kinbauri") (Toronto: TSXV.KNB; Frankfurt: 3KG.DE) is pleased to announce the engagement of Scott Wilson Roscoe Postle Associates ("SWRPA") under the direction of Mr. James W. Hendry, P. Eng., to complete a N.I. 43-101 compliant economic assessment ("Scoping Study"), for the El Valle and Carl?s mines in northwestern Spain. The Scoping Study will commence immediately with delivery of a final report in September 2008. In addition to SWRPA, contributors to the Scoping Study will include McIntosh Engineering (mine design and costing) of North Bay Canada, Golder and Associates of Toronto, Ontario (rock mechanics and mine hydrology), Ore Reserves Engineering (modelling and resource calculations and classifications) of Lakewood, Colorado. It is expected, subject to favourable results from the Scoping Study, that a Feasibility Study will then be completed, with delivery of the feasibility study targeted for Q1 of 2009.
The Scoping Study will focus, but not be limited, to the Black Skarn North and Area 107 zones at El Valle where 1,713,000 tonnes of indicated resources with average grades of 5.4 g/t Au and 0.79% Cu plus 2,912,000 tonnes of inferred resources with grades of 6.68 g/t Au and 0.55% Cu were estimated for those zones on January 17, 2008 by Ore Reserves Engineering in a N.I. 43-101 compliant report filed on Sedar. This equates to an estimated 297,000 ounces of gold and 29,700,000 pounds copper indicated plus 625,000 ounces of gold and 35,500,000 pounds of copper inferred for Area 107 and BSN. A 23,000 metre in-fill program focused solely on Black Skarn North and Area 107 is near completion and is expected to up-grade and add to the resource within Black Skarn North and Area 107.
Total resources for El Valle and Carl?s were estimated on January17, 2008 by Ore Reserves Engineering at 4,200,000 tonnes of indicated resource with an average grade of 5.4g Au/t and 4,100,000 tonnes of indicated resource with average grade of 1.0% Cu and 4,459,000 tonnes of inferred resource at an average grade of 6.7g Au/t and approximately 0.56% Cu. This equates to an estimated 725,200 ounces of gold and 87,100,000 pounds copper indicated plus 964,000 ounces of gold and 50,000,000 pounds of copper inferred. It is estimated that the mill at El Valle, which was put on care and maintenance in December, 2006, will be utilized, with up-grades, to process ore to be mined at El Valle and Carl?s (present rated capacity of 2,000 tonnes per day).
Kinbauri Espana's senior geologist, Santiago Gonzalez-Nistal and Dr. C. F. Gleeson, P. Eng. Kinbauri's Vice-President of Exploration, both qualified persons as defined by N.I. 43-101, have been responsible for Kinbauri's exploration and in-fill drill programs and quality control at El Valle and Carl?s. This press release has been prepared by Dr. V. N. Rampton, P. Eng in his capacity as a qualified person.
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 49,567,013 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:
Darrell Munro, BB.A, LL.B, Manager Corporate Communications
Tel.: (613) 836-0198
Dr. Vern Rampton, P. Eng., President firstname.lastname@example.org
Tel: (613) 836-2594
Dr. Chris Gleeson, P. Eng., Vice-President Exploration email@example.com
Ruediger (Rudy) Hnyk, CEO
Investor Relations &
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
0.97% Cu for 4,054,000 tonnes resource, copper resource and grade is not estimated for 105,000 tonnes resource.
0.56% Cu for 4,074,000 tonnes resource, copper resource and grade is not estimated for 1,283,000 tonnes resource.