Kinbauri Gold Corp.
TSX VENTURE : KNB
FRANKFURT : 3KG.DE

Kinbauri Gold Corp.

March 07, 2008 08:00 ET

Kinbauri Drilling Suggests 300 Metre Extension of Au-Cu Black Skarn Zone at El Valle in NW Spain

OTTAWA, ONTARIO--(Marketwire - March 7, 2008) - Kinbauri Gold Corp. ("Kinbauri")(TSX VENTURE:KNB)(FRANKFURT:3KG.DE) is pleased to announce the latest results from its on-going 23,000m underground drilling program at El Valle in northwestern Spain. Highlights of the assay results include:

- 7.4m grading 12g Au/t and 1.33% Cu in hole 08KV1049.

- 1.45m grading 13.9g Au/t and 1.22% Cu in hole 08KV1062.

- 30.36m grading 2.3g Au/t and 0.79% Cu in hole 08KV1059.

Most notably hole 08KV1059 encountered a thick section of skarn mineralization that points to a 300m westward extension of the Black Skarn zone. This extension and combined gold and copper values point to a significant expansion of tonnage and resources. The Black Skarn zone is amenable to bulk mining.



Assays as received from a further five diamond drill holes at El Valle are
summarized as follows:
HOLE From To Interval Au Ag Cu Zone/
(DDH)(1) (m) (m) (m)(2) (g/t) (g/t) (%) Section(3)
08KV1049 47.00 54.40 7.40 12.02 56.00 1.33 107W, BSN/1.5
Including 51.75 54.4 2.65 25.00 129.00 2.83
08KV1049 110.30 110.80 0.50 7.69 45.00 2.66
------------------------------------------------------------------------
08KV1053 24.85 27.85 3.00 6.36 27.00 1.31 107, BSN/10.5
08KV1053 32.65 34.50 1.85 3.52 16.00 0.83
08KV1053 44.25 47.75 3.50 6.83 11.00 1.13
Including 45.75 47.75 2.00 9.22 4.00 0.28
------------------------------------------------------------------------
08KV1056 62.70 78.10 15.40 2.42 13.00 0.50 BSN/1050N
Including 67.30 69.50 2.20 5.25 40.00 1.21
Including 67.30 67.85 0.55 11.20 109.00 2.23
08KV1056 111.30 118.10 6.80 3.21 13.00 0.29
Including 111.30 113.00 1.70 6.21 27.00 0.62
------------------------------------------------------------------------
08KV1059 119.60 150.05 30.40 2.34 15.00 0.79 BSN West
Including1 119.60 121.10 1.50 3.00 15.00 1.56
Including2 124.20 125.80 1.60 5.93 21.00 1.09
Including3 130.85 131.55 0.70 9.32 49.00 1.63
Including4 148.70 150.05 1.35 6.35 28.00 1.12
08KV1059 152.10 153.55 1.45 2.42 8.00 0.23
08KV1059 157.90 161.40 3.50 6.34 33.00 0.64
08KV1059 174.30 178.95 4.65 2.93 17.00 0.79
Including 174.30 175.95 1.65 5.07 28.00 0.87
08KV1059 183.75 185.35 1.60 2.38 17.00 0.51
------------------------------------------------------------------------
08KV1062 41.00 48.10 7.10 6.70 10.00 0.60 107W/1050N
Including1 43.90 48.10 4.20 8.57 8.00 0.53
Including2 46.65 48.10 1.45 13.88 17.00 1.22
------------------------------------------------------------------------

(1) See Schedules A and B for Location (2) True Thicknesses are estimated
to be 66% of intervals for 08KV1049; 75% of intervals for 08KV1053; 71%
of intervals for 08KV1056; 47% of intervals for 08KV1059; 56% of
intervals for 08KV1062, (3) 107 is Area 107,107W is Area 107 West and
BSN is Black Skarn North


Holes 08KV1049, 08KV1053, 08KV1056 and 08KV1062 are infill holes drilled on Area 107 and Black Skarn North with gold and copper values representative of those two zones (see above table). Hole 08KV1059, which was drilled some 60m west of the most westerly hole encountering skarn mineralization in the Northwestern Black Skarn, indicates that the mineralization is continuous at this elevation and extends some 300m to the south on the west side of the intrusion that the skarn mineralization flanks. A 300m extension could result in resources mirroring or exceeding those resources within the Central and South Areas of Black Skarn on the eastern flank of the intrusion. These Areas contain indicated resources of 105,362 ounces gold and 16.8 million pounds copper (912,588t grading 3.6g Au/t and 0.84% Cu) and inferred resources of 85,596 ounces gold and 12.8 million pounds copper (768,505t grading 3.5g Au/t and 0.76% Cu), as noted in a N.I. 43-101 compliant technical report dated January 17th, 2008.. The dimensions and rock characteristics of the Black Skarn zone indicate that it is amenable to bulk mining.

The drill program is being supervised by Mr. Santiago Gonzalez-Nistral, Kinbauri Espana's senior geologist, with quality control being provided by Dr. C. F. Gleeson, P. Eng., Kinbauri's Vice-President of Exploration: both are qualified persons as defined by N.I. 43-101. Details of Kinbauri's Assay and Quality Assurance Programs are reported in press release of February 27th, 2008. This press release was prepared by Dr. V. N. Rampton, P. Eng in his capacity as qualified persons. Dr. Rampton will record a "Beyond The Press Release" on the Company's official Investor Relations Site at http://www.agoracom.com/ir/kinbauri, where these results will be discussed in detail. The recording is expected to be available on or after March 10th, 2008.

Kinbauri is a TSXV - Tier 1 Mineral Exploration Company focused on the development of mineral properties, primarily precious metal prospects in northwestern Spain, Nevada and Canada. Its immediate focus is to expand and upgrade resources to reserves at the El Valle property in Asturias, Spain in order to start operations at the mine and existing mill complex there in 2010. It currently has 43,538,320 common shares issued and outstanding.

This press release contains certain forward-looking statements, which are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected. Kinbauri undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Maps are available on the Marketwire Website at the following addresses: http://media3.marketwire.com/docs/SCHEDULE_AB.pdf

VISIT: Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri where investors can post questions and receive answers or review questions and answers already posted by other investors.

THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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