Kent Exploration Inc.
TSX VENTURE : KEX

Kent Exploration Inc.

July 22, 2009 16:02 ET

Kent Exploration Inc.: 2,450,000 Unit Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 22, 2009) - Kent Exploration Inc. (the "Company") (TSX VENTURE:KEX) announces a non-brokered private placement for 2,450,000 Units at $0.10 per unit (the "Units") for gross proceeds of $245,000.

Each Unit will consist of one (1) common share and one (1) transferable common share purchase warrant. Each warrant will be exercisable for a period of two (2) years and entitle the holder to purchase one additional common share in the capital stock of the Company at a price of $0.15 per common share.

The gross proceeds from this private placement ($245,000) will be used for general corporate purposes, completion of an independent NI-43-101-compliant report on, and continuing exploration on, the Gnaweeda Gold Project.

The private placement will close when the final documentation is accepted for filing by the TSX Venture Exchange. Shares subscribed for in the private placement, and shares issued upon the exercise of the warrants, will be subject to a four (4) month and one day hold period.

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, 50% of 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, 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 an option to acquire a 70% interest in CanAlaska Uranium's Reefton, gold project in New Zealand. The Company has executed a proposal with Teck Australia Pty, Ltd., to enter into an Option Agreement to earn 100% of Teck's interest in Chalice Gold'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