Kilo Goldmines Ltd.

Kilo Goldmines Ltd.

December 18, 2014 18:01 ET

Kilo Goldmines Announces Grant of Stock Options

TORONTO, ONTARIO--(Marketwired - Dec. 18, 2014) - Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K) announced today that, subject to regulatory approval, it has granted stock options to acquire an aggregate of 1,460,000 common shares to directors, officers, consultants and contractors of Kilo and its DRC subsidiaries under its Employee Stock Option Plan. Each option is exercisable for a five year period to acquire one common share at a price of $0.10 per share. The options vest as to 50% immediately and 50% on the one year anniversary thereof.

About Kilo

Kilo Goldmines Ltd. (KGL) is a Canadian gold exploration company, listed on the TSX Venture Exchange under the symbol 'KGL' and on the Frankfurt Exchange under the symbol '02K'. KGL holds exploitation and exploration licences covering some 3000 km² of favourable Archean Kabalian Greenstone (the Ngayu belt) in the northeast Democratic Republic of Congo an area historically referred to as the Kilo-Moto region, a historic gold-producing region.

Incorporated within these licences are:

  • the Somituri Project (71.25% owned by KGL), comprising eight non-contiguous licences (606km²) held by KGL-Somituri SARL; and
  • the KGL Isiro SARL Joint Venture (JV) with Randgold Resources Ltd (2056 km²), for gold and associated minerals only. The JV is managed by Randgold and financed by it to a pre-feasibility (PFS) for a 51% participation interest. Upon completion of the PFS, KGL can participate in funding or Randgold will increase its participation to 65% by completing a Feasibility Study. Areas which may be deemed of no interest to Randgold will be returned to KGL.


  • KGL has retained the rights to explore for and develop any iron ore resources or other minerals associated with the licences held by KGL Isiro SARL.

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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