KILO Goldmines Ltd.

KILO Goldmines Ltd.

April 23, 2012 11:54 ET

Kilo Announces Completion of Airborne Geophysical Survey and Interim Soil Sampling on the Somituri Project, DRC

TORONTO, ONTARIO--(Marketwire - April 23, 2012) - Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) is pleased to announce the following exploration update on its Somituri project:

  • Completion of an Airborne geophysical survey over the entire 122 square kilometre Exploitation Licence, PE9691, that hosts the Adumbi gold deposit of the Somituri Project situated in Oriental Province of the Democratic Republic of Congo ("DRC").

  • Completion of soil sampling and reconnaissance geological mapping on PE9692, PE138 and PE137

New Resolution Geophysics, based in South Africa, carried out an airborne Magnetic and Radiometric survey over PE9691, by helicopter, in mid April 2012. The survey consisted of 1,416.5 line kilometres flown at 100 metre intervals on a magnetic azimuth of 040° - 220° in order to orthogonally traverse the lithologies and gold bearing shear zones. The objective of the airborne geophysical is, in part, to better define the structural and lithological settings of the known gold deposits and gold occurrences hosted on the Exploitation Licence and the on-strike extensions of these structures in areas where they have not been exposed or exploited. In addition, the magnetics can determine the presence of younger intrusive rocks, and cross-cutting structures that are typically associated with shear hosted Archaean orogenic gold deposits as well as differentiate between the Banded Iron Formation ("BIF"), metasediments, volcanic and other rock types to complement geological mapping.

Airborne Magnetic and Radiometric survey was previously completed over PE 9692, PE 137, PE 138, PE 140, and 9695.

Since January the Company has completed soil sampling and reconnaissance geological mapping on PE9692, PE138 and PE137. Soil sampling and reconnaissance geological mapping is in progress on PE9695. The objective of this program is to delineate areas of anomalous gold values in soil, and ultimately define drill targets.

Commenting on these activities, Alex van Hoeken, President and CEO of Kilo stated; "Our expanded technical team has worked efficiently around the various concessions since January and has laid the groundwork for expanding the potential of the company's mineral portfolio."

About the Somituri Project

The recent Inferred Mineral Resource Estimate (see PR dated March 15, 2012) concluded that the Adumbi Gold Deposit hosts 1.87 million ounces of gold grading 1.63 g/t at a 0.50 g/t cut-off of which; 33%, 14% and 53% is attributable to the oxide, transition and sulphide types respectively.

Colonial-era records, unverified by the Company, note that during the 1940s until its closure in 1958 the combined production from the Adumbi and Bagbaie mines totalled approximately 200,000 ounces of gold; the quartz vein hosted gold ore at Adumbi was reported to average 11 g/t gold. The Kitenge and Manzako mines produced approximately 100,000 ounces of gold as noted by the Colonial-era records.

About Kilo

Kilo Goldmines Ltd. is a Canadian gold exploration company that is listed on the TSX Venture Exchange under the symbol 'KGL' and on the Frankfurt Exchange under the symbol '02K'. The Company has over 7,000 square kilometres of favourable Archaean Kabalian greenstone in the Kilo-Moto area in the Democratic Republic of the Congo. Kilo's principal focus is to advance its projects from exploration through feasibility to project development and ultimately to full production in a socially and environmentally responsible manner. The Company owns a 71.25% interest in the Somituri Project.

The Company is also working on a number of other prospective areas which contain historical workings in the same region. It also has a joint venture with Rio Tinto Ltd. on potential iron ore licences in north-eastern DRC.

Qualified Person

The geophysical parameters disclosed in this press release were planned by the Company's geological consultant Stanley Robinson. Stanley Robinson, M.Sc., P.Geo is also the 'qualified person' (as that term is defined under National Instrument 43-101) of the Company who has reviewed and approved the scientific and technical information contained in this release.

This news release may contain forward looking statements concerning future operations of Kilo Goldmines Ltd. All forward looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.

Neither 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.

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