Kilgore Minerals Ltd.

Kilgore Minerals Ltd.

November 06, 2006 16:26 ET

Kilgore Minerals Reports Drill Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 6, 2006) - Kilgore Minerals Ltd. (TSX VENTURE:KAU) (shares issued: 19,622,586) reports results from the first six diamond drill holes at the Kilgore gold property in Idaho.

Assay results from the first six diamond drill holes have been received and compiled. Holes KG06-1, KG06-2, KG06-3 and KG06-4 were close offsets to the high grade intersection of 0.465 ounces per ton gold over 10 feet of core length in drill hole KG04-2, completed in the 2004 field season on the "Dog Bone Ridge" target area. Highly anomalous gold values were encountered in all four holes with the best section of 0.051 ounces gold per ton over 41.2 feet occurring in KG06-1 starting at a depth of 510.6 feet. True widths are unknown. The high-grade gold values encountered in KG04-2 were not replicated. This drilling indicates that the stratigraphy and structure in the area are more complex than originally believed.

Diamond drill hole KG06-5 was a wildcat hole drilled in the opposite direction from the 2004 intersection and failed to intersect significant gold values. Hole KG06-6 was an off-set along the postulated strike of the mineralization intersected in 2004. The hole encountered highly anomalous gold but contained no sections of potentially economic mineralization.

The holes reported on represent a total of 3,382 feet of NQ coring. All holes were angle holes with dips of minus 45 degrees to minus 55 degrees. While the gold values encountered to date from this summer's work program are disappointing, all holes intersected significant sections of extreme hydrothermal alteration of a type associated with important epithermal precious metal deposits. Kilgore Minerals believes that this pervasive strong alteration in association with highly anomalous gold mineralization reinforces the interpretation of the "Dog Bone Ridge" area as a highly attractive target for high-grade epithermal vein type precious metals deposits.

Drill holes KG06-7, 8, 9 and final 2006 season hole 10 have been completed and the core is currently being processed. Holes KG07, 8, and 9 were drilled on the "Dog Bone Ridge" target and hole KG10 was completed on a prominent dilatant zone approximately 8,000 feet southeast of the resource area. Results from the final four holes will be reported following receipt of assays from the laboratory, ALS Chemex.

Norman Burmeister, P.Eng. is the qualified person responsible for the technical information appearing in this news release.


Norman Burmeister, President & CEO


Kilgore Minerals is engaged in the acquisition, exploration and development of natural resource properties. The company holds interests in twelve uranium properties and three gold properties, all of which are located in the United States.

WARNING: This news release may contain forward-looking statements including, but not limited to, comments regarding geological interpretations. Assumptions used in the preparation of such information, although considered accurate at the time of preparation, may prove incorrect. Therefore, actual results achieved may vary materially from the information provided herein.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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