Kent Exploration Inc.
TSX VENTURE : KEX

Kent Exploration Inc.

May 05, 2009 09:00 ET

Kent Receives Flagstaff, WA, Mine Plan Approval

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2009) - Kent Exploration Inc. (the "Company") (TSX VENTURE:KEX) is pleased to report that it has received a notice of 'No Significant Impact' and 'Mine Plan Approval' from the Spokane office of the U.S. Bureau of Land Management (BLM), for the Company's 100% optioned Flagstaff, WA, barite property.

The Mine Plan submitted was for approval to mine up to a maximum 100,000 tons per year of barite from the historic open pit mine on the property, which was operated by CE Minerals (CE) during the period 1981 - 1985. During that period CE determined there was a historic resource of approximately 1.3 million tons of barite grading 4.2 specific gravity (SG), of which approximately 85,000 tons was mined.

The first year of barite operations is planned to test the economics of the project through processing, by crushing, separating and upgrading, the existing estimated 30,000 tons of stockpiled barite ore to 4.1 SG. The Company has completed the upgrading of the US Forest Service access road to the mine gate preparatory to commencement of operations, which are subject to the Company posting the required reclamation bond with the BLM.

During their drilling operations on the property, CE also reported historic gold intersections, which the Company has not verified, in a number of their drill holes, one of which reportedly graded 1.307 ounces per ton over 60 feet and one which graded 0.5 ounces per ton over an intersection of 40 feet. During the summer of 2008, the Company surveyed the collars of the historic gold bearing drill holes and plans to re-drill these during 2009 operations.

In November of 2008, the Company entered into a takeoff agreement with Matovitch Mining Industries (MMIL) for the supply to MMIL of 20,000 tons/year of 4.1 SG barite. The price to be paid to the Company for the barite at the mine gate will be that price published by the US Geological Survey (USGS) in their most current Annual Mineral Commodity Summary for crude barite. For reference, the current quoted price is US$40 per ton at the mine gate. (KEX2008-33 http://www.kent-exploration.com/news/2008/KEX2008-33.pdf)

The Company has granted 200,000 incentive stock options to consultants exercisable for five years at $0.18 cents and has, subject to Exchange approval, entered into a market making agreement with J. Watson.

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 the Reefton gold project in New Zealand.

This news release contains certain forward looking statements concerning the Company's operation and performance. Any such forward looking statements, including projected income, are based upon a number of assumptions and estimates that are inherently subject to uncertainties and contingencies, many of which are beyond the control of the Company, and are subject to change based on a wide range of economic and political conditions. Therefore reliance should not be placed upon forward-looking statements, because actual results may differ materially. The Company has relied upon the historic data developed by CE Minerals during their 1981 - 1985 mine planning and operations in reporting the historic gold intersections, and to base its decision to commence barite mining and processing operations. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, the Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.

The Company has not completed a bankable feasibility study, nor a NI-43-101-compliant report, nor has the Company performed enough work to confirm the financial viability of the planned operations.

The Company undertakes no obligation to update or revise any such forward looking statements to reflect subsequent events or circumstances.

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