Kinbauri Gold Corp.

Kinbauri Gold Corp.

November 28, 2007 08:45 ET

Kinbauri Gold Corp.: Up-Date Increases El Valle/Carles Indicated Resources to 727,618 oz Au and 84,8 Million lbs Cu & Inferred Resources to 1,100,962 oz Au and 51.9 Million lbs Cu

OTTAWA, ONTARIO--(Marketwire - Nov. 28, 2007) - Kinbauri Gold Corp. (TSX VENTURE:KNB) ("Kinbauri") is pleased to announce that it has received a 43-101 compliant resource up-date from Ore Reserves Engineering of Lakewood, Colorado ("ORE") on Area 107 ("107") and Black Skarn North ("BSN"), following completion of an underground 25-hole, 6,273m drill program in October at El Valle in northwestern Spain. Resources for 107 and BSN now stand as follows:

Area Tonnes Gold (g/t) Copper (%) Ounces Tonnes Gold cut-off
Gold Copper (g/t)
BSN 1,194,353 3.74 0.75 143,677 8,933 2.6
107 382,806 8.69 0.95 106,940 3,632 3.5
BSN + 107 1,577,159 4.94 0.80 250,618 12,565
BSN 1,697,964 3.92 0.50 213,931 8,548 2.6
107 1,348,155 10.54 0.63 457,031 8,451 3.5
BSN + 107 3,046,119 6.85 0.56 670,962 16,999

This resource up-date was prepared by Mr. A. C. Noble, P.E. of ORE, a qualified person as defined by N.I. 43-101. Inverse distance power was utilized for estimating resources within geologically defined wire-frame solids. The up-date represents an increase of 250,618 ounces of gold and 12,565 tonnes of copper (1,577,159 tonnes at 5.0g Au/t and 0.8% Cu) indicated resources and 255,962 ounces of gold and 11,999 tonnes of copper (1,688,119t at 4.2g Au/t and 2,601,119t at 0.5% Cu) inferred resources from the previous N.I. 43-101 estimate prepared by ORE on March 21st, 2007. Full documentation for the up-date will be filed on Sedar during the next month. Most zones at El Valle and Carles, including Area 208, East Breccia, El Valle Fault, Charnella South, Monica and High Angle 1 and 2 are open. Zones 107 and BSN are open to the west and at depth. Underground exploration drilling is planned for 107, BSN, Area 208 and East Breccia in 2008 to expand resources in these areas.

The total resources at El Valle and Carles, based on this up-date of ORE's March 26, 2007 N.I. 43-101 resource report are now:

- Measured and Indicated: 727,618 ounces gold (4,171,159 t at 5.4g Au/t)
84.8 million pounds copper (3,920,159 t at 1.0%

- Inferred: 1,100,962 ounces gold (4,847,119 t at 7.1g Au/t) plus
51.9 million pounds copper (4,208,119 t at 0.6% Cu).

Kinbauri's immediate objective is to complete a 23,000m underground diamond drilling program that will convert existing resources into reserves for the accessible 107 and BSN zones. This will facilitate completion of a detailed engineering plan to enable a timely re-start of the mill at El Valle. Bids have been received to complete a scoping study no later than May, 2008 and feasibility study no later than November, 2008.

This press release was prepared by Dr. V. N. Rampton, P. Eng in his capacity as a qualified person. Dr. Rampton will record a "Beyond The Press Release" on the Company's official Investor Relations Site at, where these developments will be discussed in detail. The recording is expected to be available on or after November 30th, 2007.

Kinbauri is a TSXV - Tier 1 mineral exploration company focused on the development of mineral properties, primarily precious metal prospects in northwestern Spain, Nevada and Canada. Its immediate focus is to upgrade resources to reserves at the El Valle property in Asturias, Spain in order to start operations at the mine and mill complex there. It currently has 43,538,320 common shares issued and outstanding; 67,056,236, fully diluted.


This press release contains certain forward-looking statements, which are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected. Kinbauri undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Kinbauri Gold's Hub at where they can post questions and receive answers or review questions and answers already posted by other investors.

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