Kent Exploration Inc.
TSX VENTURE : KEX

Kent Exploration Inc.

September 01, 2009 14:29 ET

Kent Acquires 100% of Ivanhoe Creek Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2009) - Kent Exploration Inc. (the "Company" or "Kent") (TSX VENTURE:KEX) reports that it has acquired 100% of the Ivanhoe Creek Property (the "Property") by entering into a twenty year Mining Lease Option Agreement (the "Agreement") with R. Redfern, of Elko, Nevada.

The terms of the Agreement provide for Kent to pay the current BLM maintenance fees (paid) and pay one thousand United States ("US") dollars (US$1,000) at the end of the first year of the Agreement, increasing by one thousand US dollars (US$1,000) each year for the first five years of the Agreement, and at five thousand US dollars per year thereafter for the balance of the term of the Agreement. There are no work commitments provided for under the Agreement.

The Property is a Midas-type gold-silver prospect located in the Carlin trend in the Northern Nevada Rift area of Nevada, in close proximity to Great Basin Gold's Hollister Development Block, where Great Basin has reportedly commenced production at a rate of approximately 120,000 ounces per year of gold equivalent at a projected life of mine cost of US$426 per ounce. The Property was formerly held by Senator Minerals Inc under a Mining Lease Option Agreement, which the Company had earned a 50% interest in. Senator chose to drop its interest in the property due to financial considerations.

Mr. Donald A. Simon, one of the founding directors of the Company, has submitted his resignation as a director due to work conflicts. The Company thanks Mr. Simon for his contribution to the development of Kent since its inception.

Kent Exploration Inc is a junior exploration company that has a 100% interest in a mining lease option on the Flagstaff Mountain property, a gold/silver/zinc/barite prospect in eastern Washington state, a 100% interest in the mining lease option on the Ivanhoe Creek property, a Midas-style gold/silver target in Nevada's Carlin Trend, 50% of a 100% interest in the Ivanhoe Creek placer claims covering a bentonite deposit, 100% interest in the Courtney Lake property, a silver/lead/zinc prospect in north-east Saskatchewan.

The Company has an option to earn a 100% interest in the Silver Hills property, a silver/lead/zinc prospect in south-eastern British Columbia, 100% interest in Coal Prospecting Permits covering approximately 92,000 ha in east-central Saskatchewan, has a 100% interest in the Alexander River and Lyell gold projects in the Reefton gold field in New Zealand. The Company has executed an agreement with Teck Australia Pty, Ltd, to enter into an Option Agreement to earn 100% of Teck's interest in Chalice Gold Mines Limited's Gnaweeda Gold Project in West Australia.

This News Release has been prepared on behalf of the Kent Exploration Inc Board of Directors, which accepts full responsibility for its contents.

ON BEHALF OF THE BOARD

Graeme O'Neill, President

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

Contact Information

  • Kent Exploration Inc.
    Graeme O'Neill
    President
    604-684-3394 or Toll Free: 1-866-399-6539
    1-888-282-7763 (FAX)
    www.kent-exploration.com