Kent Exploration Inc.
TSX VENTURE : KEX

Kent Exploration Inc.

February 04, 2011 18:31 ET

Kent-Archean Spin-Off Plan of Arrangement Completed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 4, 2011) - Kent Exploration Inc. (the "Company" or "Kent") (TSX VENTURE:KEX), is pleased to announce that it has completed the plan of arrangement, which provides for the creation of a new company, Archean Star Resources Inc. ("Archean"). An application has been made to list the shares of Archean on the TSX Venture Exchange. Refer to the Kent Information Circular dated March 26, 2010, and Kent's news release dated January 20, 2011, for additional information concerning the plan of arrangement.

Under the plan of arrangement, Kent has retained ownership of its interests in all existing mineral properties except for the Gnaweeda property located in Western Australia which is now owned, indirectly, through Archean Star Resources Australia Pty Ltd. ("ASA"), by Archean.

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 holds a 35% interest in Archean Star Resources Inc., which was recently spun out from Kent. Archean has an Option Agreement to earn 100% of Teck Australia Pty Ltd.'s interest in Chalice Gold Mines Limited's Gnaweeda Gold Project in West Australia, subject to a 75% back-in right to Teck.

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, and has a 100% interest in the Courtney Lake property; a silver/ lead/ zinc prospect in north-east Saskatchewan. 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 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, 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) accepts responsibility for the adequacy or accuracy of this 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