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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 2013) - Kent Exploration Inc. (News - Market indicators) (the "Company" or "Kent") reports that, as a result of a review by the British Columbia Securities Commission, we are issuing this news release to clarify our disclosure with respect to the Alexander River Gold Project.
The Company is fully retracting all prior disclosure of a historic potential resource estimate at the Alexander River Gold Project, made in its news releases, on its website, and in promotional videos.
The historic potential resource estimate, as disclosed in these news releases, and in the Company's promotional videos, was insufficiently compliant with National Instrument NI-43-101 rules for historical disclosure, and was unsupported by a compliant NI-43-101 technical report. The disclosure omitted mandatory cautionary language always required by NI 43-101 with disclosure of a historical resource estimate. Some of the potential resource disclosure was potentially misleading, as it sometimes appeared as disclosure of a current resource estimate, and in a manner restricted by the disclosure requirements of NI-43-101. The Company hereby retracts all prior disclosure of a potential resource at Alexander River as made in its news releases and promotional video and written material.
The Company disclosed in its March 10, 2011 news release that Dr. G. E. Ray, P. Geol., an independent geologist and a qualified person as recognized by NI-43-101, was engaged by the Company to conduct a NI-43-101 Compliant Technical Report on Alexander River. Due to market conditions at the time, the report was not completed. This report has been recommenced and is now in the process of being conducted by Dr. Ray, after completion of which, it will be made public.
Work on Alexander River is currently ongoing under the direction of Dr. Clay Conway, P. Geol, a Director of the Company, and a qualified person as recognized by NI-43-101.
Kent Exploration Inc. is a junior exploration company with a 100% interest in all its major projects, and is planning on building shareholder value through establishing cash flow from its Flagstaff Mountain, WA, barite mine. Any positive cash flow is intended to reduce dilution and fund exploration on its three major high grade gold prospects (Alexander River, Paparoa and Lyell), in the highly prolific West Coast South Island gold fields of New Zealand. Additional shareholder value has been established through its approximately 15% interest in Archean Star Resources Inc, ("Archean") which is listed on the TSX Venture Exchange under the symbol ASP.
The Company has an experienced management and technical team with extensive exploration expertise and offers investors the potential for a major gold discovery on its New Zealand gold projects.
This News Release has been prepared on behalf of the Kent Exploration Inc. Board of Directors, which accepts full responsibility for its contents. The contents of this news release has been reviewed and approved by Dr. Clay Conway, P. Geol., a Qualified Person as recognized by National Instrument NI-43-101 and a director of the Company.
ON BEHALF OF THE BOARD
Graeme O'Neill, President