Kent Exploration Inc.
TSX VENTURE : KEX

Kent Exploration Inc.

June 02, 2011 12:38 ET

Kent Updates Flagstaff Mountain Barite Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 2, 2011) - Kent Exploration Inc. (TSX VENTURE:KEX) (the "Company" or "Kent") reports that it has taken delivery of, and tested the specialized crushing and screening equipment for the Company's fully permitted Flagstaff Barite Mine, located outside of Northport, Washington, approximately 20 km south of Rossland, British Columbia.

The equipment was brought into a temporary facility in Vancouver, BC, where a test run on an approximately 100 tonne sample of ore from the property was conducted. The Company is now shipping the equipment to the mine site for final set up and commencement of production from the ore body.

The Flagstaff Barite mine is permitted to produce up to 100,000 tons of barite per year and was previously operated by CE Minerals and closed in 1984 due to low barite prices. The mine has a reported historic resource of 1.2 million tons* 4.2 specific gravity ("SG") barite.

The Company has entered into a takeoff agreement to supply a minimum 20,000 tons per year of 4.1 SG barite at an estimated production cost of US$25/ton. Barite, which currently sells for approximately US$52/ton at the mine gate, is used primarily as additive and as a weighting agent for oil and gas well drilling fluids.

The Company anticipates cash flow to commence toward the end of the 3rd quarter of 2011.

*The Company advises that a qualified person has not done sufficient work to classify the historical estimates as a current mineral resource, the Company is not treating the historical estimates as a current mineral resource and the historical estimates should not be relied upon.

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 NI-43-101.

ON BEHALF OF THE BOARD

Graeme O'Neill, President

This news release may include certain statements that may be considered "forward-looking statements". Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions. All statements, other than statements of historical fact, that address such matters as future exploration, drilling, and events or developments that Kent Exploration Inc (Kent) expects may happen, are forward looking statements and are subject to risks, uncertainties and other factors that are beyond the reasonable control of the Company. Although Kent believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results. Actual developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include economic, financial market performance, business conditions, commodity prices and exploitation and exploration successes. Kent, its subsidiaries, affiliates, employees and associates assume no obligation to update or revise any forward-looking statements as a result of new information to reflect actual results, future events or otherwise.

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