Kent Exploration Inc.
TSX VENTURE : KEX

Kent Exploration Inc.

March 24, 2011 19:03 ET

Kent Reports Archean Star Resources (TSX VENTURE:ASP) To Commence Trading

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 24, 2011) - Archean Star Resources Inc. ("Archean" or the "Company"), which was recently spun off from Kent Exploration Inc. (TSX VENTURE:KEX) through a Plan of Arrangement that took effect January 28, 2011, has reported that it has received listing approval from the TSX Venture Exchange (TSX-V) for listing as a Tier 2 Mining Issuer. Trading is to commence at the open on the TSX Venture Exchange March 25th under the symbol ASP.

Archean Star Resources Inc is a junior exploration company that, through its wholly owned subsidiary, Archean Star Resources Australia Pty Ltd, has entered into an Option Agreement, subject to a 75% back in right, to earn 100% of Teck Australia Pty Ltd's ("Teck") interest in Chalice Gold Mines Limited's Gnaweeda Gold Project in West Australia.

On December 3, 2010, the Company conducted an additional 7 hole diamond drill program at the Bunarra prospect, completed on February 11, 2011, to follow up the March 2010 diamond drill program where diamond drill hole BN003 intersected 18 meters that graded an average 11.71 grams/tonne Au. Diamond drill hole DDH BN004, completed December 20, 2010, intersected 1.3 meters grading 14.6 g/t Au between 143.9 m to145.2 m down hole. Assays are pending for holes DDH BN005 through BN010. At Bunarra, gold mineralization associated with arseno-pyrite and pyrite has been identified along an approximately 200 meter strike with widths of up to 50 meters. The zone is open along strike and to depth. A NI 43-101 compliant technical report on the Gnaweeda property is posted on the Company website at http://www.archeanstar.com/reports/Gnaweeda43-101.pdf and on SEDAR at www.sedar.com.

To date, Archean advises that, on completion of the upcoming Phase IIC work program is will have spent approximately AUD$1,490,000 in property expenditures on the Gnaweeda Gold Project. The Phase IIC exploration program consisting of diamond drilling at both Bunarra and St. Anne's prospects and an IP Survey over the Bunarra prospect is to commence immediately. The IP survey is to determine whether a geophysical signature can be identified for the gold bearing arseno-pyrite/pyrite mineralization that can be applied to the other known gold prospects on the 170 sq/km property.

Kent Exploration Inc. is a junior exploration company that 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 also acquired the Alexander River, Paparoa and Lyell gold projects in the highly prolific Reefton gold field in New Zealand.

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 fully permitted mine which is approved to produce up to 100,000 tons of barite per year, 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. The content of this release has been reviewed and approved by Marvin A. Mitchell, P. Eng., a qualified person as defined by National Instrument 43-101.

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
    604-684-3394 or Toll Free: 1-866-399-6539
    1-888-282-7763 (FAX)
    www.kent-exploration.com