Kootenay Gold Inc.

Kootenay Gold Inc.

November 13, 2009 05:44 ET

Drilling to Commence on Kootenay's Connor Creek Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2009) - Kootenay Gold Inc. ("Kootenay") (TSX VENTURE:KTN), is pleased to announce it has entered into agreement with Orestone Mining Corp. ("the Company"), whereby the Company must spend $1,000,000 and issue Kootenay an aggregate 750,000 shares to earn 60% of Kootenay's Connor Creek gold property located in British Columbia, Canada.

Jim McDonald, CEO of Kootenay commented, "We look forward to the commencement of the Connor Creek Drill program. Kootenay now has three drill programs underway (the Promontorio, Rosetta Stone and Connor Creek) with results pending prior year-end."

Pursuant to the Letter Agreement, the Company may earn 60% of Kootenay's 100% interest in the Connor Creek Property by: (i) expending $1,000,000 on the Property prior to November 10, 2013 including $150,000 in exploration costs by November 10, 2010; and (ii) delivering to Kootenay an aggregate 750,000 shares of the Company by November 10, 2013 including 150,000 shares on acceptance of the Letter Agreement by the TSX Venture Exchange.

About Kootenay
Kootenay is an emerging exploration Company actively developing mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. The Company's top priority remains the ongoing development of its Promontorio Silver project in Sonora State, northwest Mexico, which encompasses the former producing Promontorio Silver Mine.

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information

  • Kootenay Gold Inc.
    James McDonald
    CEO and President
    Kootenay Gold Inc.
    Ken Berry
    604-601-5652 or 1-888-601-5650