Ontario K0A 1L0 CANADA
FOR IMMEDIATE RELEASE 2008-08
NETHERY APPOINTED TO KINBAURI’S ADVISORY BOARD
Adigue Appointed Senior Mining
OTTAWA, ONTARIO, March 11, 2008: Kinbauri Gold
Corp. (“Kinbauri”) (Toronto: TSXV.KNB; Frankfurt: 3KG.DE) is
pleased to announce the appointment of Mr. Bryan Nethery, P. Eng., M.B.A.
(“Nethery”) to Kinbauri’s Advisory Committee. Nethery will be actively assisting
Kinbauri with advice and direction regarding its mine and mill development and
maintenance plans together with financial planning as it moves through
feasibility and pre-production development at El Valle during 2008 and 2009.
Mr. Nethery received his B.A.Sc. in Metallurgical Engineering from
the University of
British Columbia in 1971;
completed studies for M.A.Sc. in Metallurgical Engineering at University of British Columbia in 1972; and received a
M.B.A. from the same university in 1981.
He is a Professional Engineer (BC) and Member of the Canadian Institute
of Mining and Metallurgy. Nethery has over 30 years of
domestic and international senior management and metallurgical engineering
experience. He has extensive
experience in all aspects of mining project development, namely scoping studies,
pre-feasibility studies, “bankable” feasibility studies, metallurgical studies,
valuations and due diligence studies, all leading to on time and within budget
design and construction of major projects. His involvement included project
controls, estimating, contract administration, financial analysis, project
finance, risk analysis, and construction management. Technically, it included base metal
flotation, precious metals, hydrometallurgy, SX-EW, pressure oxidation and
smelting. Since 2005, Nethery has
been an independent consultant involved in project and metallurgical consulting
for various clients. As project manager, he moved the Pogo Gold project through
scoping, pre-feasibility studies, permitting, numerous feasibility study updates, and ultimately design and construction. From 1994-2005 he was employed
by AMEC as Vice-President, Design Build and his activities included business
development, negotiations on project development and financing and project
management. Previously he was a senior manager with Fluor Daniel Wright and
project manager on a number of EPCM projects including the Louvicourt Project in
Quebec and the Porco Mine in Bolivia, as well as major feasibility
Mr. Nethery has worked in Spain on two major projects: the expansion
of the copper and gold plants for Rio Tinto Minera S.A.; in addition he led the
feasibility study on the Huelva Cooper Smelter Expansion for Atlantic Copper at
Huelva Spain. He is fluent in Spanish.
Kinbauri is also pleased to announce the appointment of Mr. Ricky
Antonio Adigue as Senior Mining Engineer at El Valle. Mr. Adigue has a Mining Engineering
Degree from the Mapua Institute of Technology in the Philippines and
is adept in GEMCOM and SURPAC Mining software. He has over ten years experience in mine
planning, design and optimization with a background in geologic, ore block and
mine modeling. He was also
previously involved in budgeting of operations and reconciliation of production
schedules in numerous projects in Vietnam and the Philippines.
Mr Nethery will receive a total of 400,000 options, exercisable into
shares at a price of $0.77 per share.
The options will vest in two tranches, one tranche of 200,000 at the date
of this press release and one tranche of 200,000 on June 30th, 2008; all options
to expire in three years on March 10th, 2011 if not exercised. Mr. Adigue and
Mr. Jean Bailly, Senior Vice-President and COO of Kinbauri Espana S. L. will
also receive 50,000 options and 100,000 options respectively, priced as above
and with an identical expiry date.
Dr. Vern Rampton, Ph. Eng., President and CEO of Kinbauri
stated, “Mr. Bailly has advanced the El Valle/Carles project well beyond
expectations since it was purchased in March 2007. In his role as COO and
manager of exploration and mining development at El Valle he has engaged, and is
engaging, key personnel and consultants to move the project forward to
feasibility by November of this year. Bryan Nethery’s vast experience can only
help in expediting this process and obtaining financing to bring the project to
production under the most favourable terms.”
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 early 2010. It currently has 43,538,320
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
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
BB.A, LL.B, Manager Corporate Communications
Rampton, P. Eng., President
(613) 836 2594 Fax: (613) 831 2730
(Rudy) Hnyk, CEO
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.