Kinbauri Gold Corp.
110 Westhunt Drive P.O. Box 158
Carp, Ontario K0A 1L0 CANADA
Stock Symbol: TSXV.KNB: 3KG.DE
FOR IMMEDIATE RELEASE 2008-23
NETHERY APPOINTED TO KINBAURI?S BOARD
OTTAWA, ONTARIO, June 9, 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 Board of Directors. 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 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. Mr. 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, from scoping studies, pre-feasibility studies, ?bankable? feasibility studies, metallurgical studies, valuations and due diligence studies, as well as leading the design, procurement, construction and startup of major mining projects. His career has included work in project controls, estimating, contract administration, financial analysis, project finance, risk analysis, and construction management. Technically, he has extensive experience in gold, copper, lead-zinc, iron ore, nickel, as well as hydrometallurgy, SX-EW, pressure oxidation and smelting.
Mr. Nethery was EPCM project manager for the Teck Cominco and Sumitomo 2,500 tpd Pogo Project in Alaska where he led the project through scoping, pre-feasibility studies, permitting, feasibility study, and ultimately design and construction. The Pogo Project has many similarities to the El Valle project; it is an underground mine of comparable tonnage, the mine uses paste backfill made from mill tailings, environmental issues were a key element in permitting and development, and the process flowsheet has numerous correlations.
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 Marigold Gold Mine in Nevada, the Louvicourt Project in Quebec and the Porco Mine in Bolivia, as well as major feasibility studies. Since 2005, Nethery has been an independent consultant involved in project and metallurgical consulting for various clients. 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.
Dr. Vern Rampton, Ph. Eng., President and CEO of Kinbauri stated, ?Bryan Nethery has been brought on as a Director to provide the Board with project development expertise and technical support to assist Kinbauri in moving the El Valle project through the scoping and pre-feasibility study, and on to the feasibility study, financing, and design and construction. I am very confident that Bryan will be of great assistance in bringing El Valle to production.?
Other Corporate Developments
Kinbauri has approved the issuance of 1,000,000 options under its current Stock Option Plan to Directors, Officers, Consultants and Employees expiring June 9, 2011 all at an exercise price of C$0.84.
In addition, in the last several months Kinbauri has netted $2,203,399.00 from the exercise of warrants, brokers warrants and options; bringing its total outstanding shares to the number referred to below.
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 48,461,564 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 Fax: (613) 831 2730
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