Kent Exploration Inc.
TSX VENTURE : KEX
FRANKFURT : 7KX

Kent Exploration Inc.

June 24, 2011 19:03 ET

Kent Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2011) - Kent Exploration Inc. (TSX VENTURE:KEX)(FRANKFURT:7KX) (the "Company" or "Kent") announces that, subject to approval by the TSX Venture Exchange ("TSX-V"), it is conducting a non-brokered private placement consisting of 12 million Units at $0.05 cents per Unit.

Each unit will consist of one (1) common share and one (1) non-transferable common share purchase warrant. Each warrant is exercisable for a period of two (2) years from closing and will entitle the holder to purchase one additional common share in the capital stock of the Company at a price of $0.10 per common share. Shares subscribed for in the Private Placement are subject to a four (4) month plus one day hold period.

Finder Fees may be paid pursuant to the policies of the TSX-V.

Kent Exploration Inc. is a junior exploration company that has acquired the Alexander River, Paparoa and Lyell gold projects in the highly prolific Reefton gold field in New Zealand and has an approximate 35% interest in, and is the controlling shareholder of, Archean Star Resources Inc, ("Archean") which is listed on the TSX Venture Exchange under the symbol ASP. Archean's wholly owned subsidiary, Archean Star Resources Australia, Pty, Ltd, ("ASRA") has an Option Agreement, subject to a 75% back in right, to earn 100% of Teck's interest in Chalice Gold Mines Limited's Gnaweeda Gold Project in West Australia.

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, The Company has a 100% interest in Coal Prospecting Permits covering approximately 92,000 ha in east-central Saskatchewan; a 100% interest in a mining lease option on the Flagstaff Mountain property, a barite-gold-silver-zinc-property in eastern Washington state, having a fully permitted mine which is approved to produce up to 100,000 tons of barite per year, and a 100% interest in the mining lease option on the Ivanhoe Creek property, a Midas-style gold/silver target in Nevada's Carlin Trend, and 50% of a 100% interest in the Ivanhoe Creek placer claims covering a bentonite deposit.

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

Neither the TSX Venture Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), has reviewed, nor do they accept responsibility for, the adequacy or accuracy of this news release.

Contact Information

  • Kent Exploration Inc.
    Graeme O'Neill
    President
    604-684-3395 or Toll Free: 1-866-399-6539
    1-888-282-7763 (FAX)
    www.kent-exploration.com