To Shareholders and Investors,
Kent Exploration Inc (the "Company") reports it has entered into an Option Agreement with CanAlaska Uranium Ltd, to acquire 70% of CanAlaska's Reefton, NZ, Gold Project. Historic production from the Reefton gold camp is reported as approximately 10 million ounces of placer gold and 2 million ounces of lode gold. Of the lode gold, approximately 1.4 million ounces was recovered from 2 mines, the Blackwater, which had a reported recovery of 740,000 ounces at 11 gpt and which was closed in 1951 due to a shaft collapse, and the Globe Progress, which had a reported recovery of 416,000 ounces at 12 gpt. Both of these historic mines abut the eastern edge of the Company's optioned property.
The historic Globe Progress mine has since been converted into an open pit mine where Oceana Gold is currently mining approximately 50,000 ounce au per year at a reported grade of 2 gpt. A graphic showing the historic Reefton gold field and the property can be viewed at http://www.kent-exploration.com/reefton.html
The Company also announces a 2.5 million unit private placement which consists of one common share and one common share purchase warrant, exercisable for one year at 11 cents. The entire news release can be viewed at http://www.kent-exploration.com/news/2009/KEX2009-01.pdf
Graeme O'Neill
President
Ph: 604-684-3394, Fax: 888-282-7763
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Kent Exploration Inc.
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EXPLORATION STAGE |
CODE : KEX.V |
ISIN : CA07278W1095 |
CUSIP : 490558103 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Kent Expl. is a gold exploration company based in Canada. Kent Expl. holds various exploration projects in Canada. Its main exploration properties are ROSEBUD in USA, SILVER HILL, FLAGSTAFF, IVANHOE CREEK and CASAT LAKE in Canada, GNAWEEDA in Australia and LYELL in New Zealand. Kent Expl. is listed in Canada. Its market capitalisation is CA$ 1.0 millions as of today (US$ 955 625, € 695 408). Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.03, and its highest recent level on January 15, 2010 at CA$ 2.50. Kent Expl. has 10 121 000 shares outstanding. |