Kent Exploration Inc.
TSX VENTURE : KEX

Kent Exploration Inc.

September 10, 2009 17:35 ET

Kent Announces Archean Star Resources Inc. as Spin-Off Company

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2009) - Kent Exploration Inc. (the "Company" or "Kent") (TSX VENTURE:KEX) announces its proposed spin-off company as Archean Star Resources Inc. ("Archean Star").

The Company proposes, subject to shareholder approval through a Plan of Arrangement (the "Plan"), to split the Company into two separate companies, with Kent advancing the North American properties and Archean Star, a new gold-focused company, funding and advancing exploration on the Australian and New Zealand properties.

A special meeting of shareholders to consider the Plan is proposed for November 30, 2009, to approve the Company issuing one common share of Archean Star for every four common shares, warrants or options held by Kent shareholders. Upon shareholder approval, and subject to meeting listing requirements, the company plans to list Archean Star on the TSX-V.

The Company also reports that it has received a prospecting permit from Crown Minerals NZ on the 281 sq/km Paparoa Gold Prospect, approximately 25 km southwest of Reefton, NZ. Archean Star properties will include Paparoa, Alexander River and Lyell Prospects in New Zealand, along with the Gnaweeda Gold Project in West Australia.

The Paparoa Prospect contains a number of historic gold mines, including the Croesus and Minerva, and has potential for intrusion related gold mineralization. According to historic records filed with Crown Minerals, two of the largest gold nuggets found in New Zealand, one of 79 ounces and one of 78 ounces, were discovered in the Moonlight Creek area of the Prospect.

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, and the Alexander River, Paparoa 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