SOURCE: Konigsberg Corporation

March 29, 2007 08:00 ET

Drilling Begins on Yoquivo Gold-Silver Project, Mexico

TORONTO -- (MARKET WIRE) -- March 29, 2007 -- Konigsberg Corporation (OTCBB: KGBC) (FRANKFURT: K2C) ("Konigsberg" or the "Company") announced today that a 10-12 hole, 3,000 metre diamond drill program has commenced on the Yoquivo Gold-Silver Project in Chihuahua State, Mexico. The Yoquivo Project covers the entirety of the former producing Yoquivo Gold-Silver District located 35 km southeast of, and along regional trend from, the recently opened Ocampo Mine. Recent completed surface sampling, mapping and geophysical work has identified both high-grade epithermal vein and bulk mineable gold-silver targets on the property.

Drilling at Yoquivo will initially target high grade gold-silver mineralization in the El Gambusino area where recently completed surface sampling returned grades of 4.00 g/t gold and 581 g/t silver including one sample which returned 15.45 g/t gold and 2,860 g/t silver. Drilling will also target the extension of the historic San Francisco Mine on the Property. Historically reported average production grades from the San Fransisco mine where 10.90 g/t gold and 1,120 g/t silver.

"Given the recent strength of the resource market, it is exciting to have our drilling program underway on Yoquivo," commented Adam Cegielski, President of Konigsberg.

Work to date on the Yoquivo Project has identified a total of 22 historic adits and shafts along 6 principal vein/breccia trends from which high-grade gold and silver epithermal style mineralization have been recovered.

"Our recent sampling has confirmed the high-grade nature of the epithermal gold-silver systems in the District and identified previously unrecognized bulk tonnage potential in several areas. Both styles of mineralization will be tested by the current program," added Darin Wagner, President of West Timmins Mining.

ABOUT THE COMPANY

Konigsberg's corporate website can be found at www.KonigsbergCorp.com. Details of the Yoquivo Au-Ag Property can be found under the Projects section of the website. A detailed PowerPoint presentation is also available on the company home page under the Quick Link section. Shareholders are advised to sign up to the company e-mail distribution list in order to stay up to date with company developments.

Konigsberg Corporation ("Konigsberg") (OTCBB: KGBC) is a mineral exploration company focused on Gold-Silver exploration in the Sierra Madre Occidental Gold-Silver Province of Mexico. The Sierra Madre Occidental Gold Province is the primary gold/silver trend in Mexico. Konigsberg has entered into a 50/50 joint venture with West Timmins Mining Inc. on the 2500 hectare Yoquivo Au-Ag Property in the Yoquivo District, Chihuahua State, Mexico.

Forward-Looking Statements:

This press release contains forward-looking statements, particularly as related to, among other things, Konigsberg's business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, and other factors that may cause Konigsberg's actual results, performance or achievements, or developments in its industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks, uncertainties and other factors that are detailed in Konigsberg's Quarterly and Annual Reports and other documents Konigsberg files from time-to-time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Konigsberg cautions readers not to place undue reliance on such statements. Konigsberg does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Konigsberg's expectations and estimates.

NR 07-05

Contact Information

  • Konigsberg Corporation

    Adam Cegielski
    President
    (905) 882-7044