Kinbauri Gold Corp.
TSX VENTURE : KNB

Kinbauri Gold Corp.

October 19, 2006 13:05 ET

Kinbauri Gold Corp.: Drilling at Corcoesto to Enhance Open-Pit Mine Potential

OTTAWA, ONTARIO--(CCNMatthews - Oct. 19, 2006) - Kinbauri Gold Corp. (TSX VENTURE:KNB) ("Kinbauri") is pleased to announce initiation of a planned 5,000m drill program at its Corcoesto gold project ("Corcoesto") in northwestern Spain and the results from the first six short diamond drill holes (519 metres in total) testing the eastern extensions of the Picotos and northern Fonterremula vein systems. All holes were drilled at an inclination of 45 degrees. Reported intercepts range from 80 to 95% of true width.

As reported in the recent 43-101 compliant "Technical Report for the Corcoesto Gold Deposit, Galicia, Spain" by Alan C. Noble, a development decision could be met by increasing the current open-pittable resources at Corcoesto 25% to 35% (less than 100,000 ounces Au). The focus of the present program is to meet this objective by drilling prospective vein systems within the northern part of Corcoesto, namely Picotos, Montefurado and Fonterremula and extending the Peton de Lobo, Pozo del Ingles and Cova Crea vein systems within the southern part of Corcoesto.



Picotos: Significant gold intercepts are as follows:
- DDH 06K23; Section 4000E
1.2g/t over 1.15m, beginning at 45.2m
5.0g/t over 4.65, beginning at 79.1m; including 20.8g/t over 1m.

- DDH 06K22; Section 4050E
1.8g/t over 3m, beginning at 22.1m
1.7g/t over 1.1m, beginning at 31.9m
3.9g/t over 1m, beginning at 49.6m

- DDH 06K24; Section 4100E
1.7g/t over 1.4m, beginning at 37.4m

These results confirm values of 2.3g/t over 8m and 3.2g/t over 1.5m
in a trench marking the eastern extension of Picotos. The lowest
zone in DDH 06K23 is a new discovery and deepening of DDH06K22 and
DDH06K24 will be required to appraise its extent.

Previous drill holes within the core of the Picotos vein system
yielded the following intercepts:

- DDH COR220; Section 3825E
1.6g/t over 1m, beginning at 66m
1.9g/t over 1.5m, beginning at 96.5m

- DDH 06K15; Section 3700E
1.5g/t over 8m, beginning at 26m
5.0g/t over 5.25m, beginning at 54.9m

- DDH COR221; Section 3650E
1.7g/t over 2.75m, beginning at 4.6m
2.0g/t over 1.5m, beginning at 26m
1.2g/t over 13m, beginning at 74m, including 2.3g/t over 4m
3.3g/t over 3.0m, beginning at 100m, including 6.0g/t over 1.5m

Between Section 3600E and 3900E at Picotos, numerous trench
intercepts have been reported, the highest being 23.6g Au/t over
5.2m; 7.7g Au/t over 6m,; 4.3g Au/t over 6m; 2.7g Au/t over 8m; 2.5g
Au/t over 7m. On-going in-fill drilling at Picotos is focused on this
area.

Northern Fonterremula: Significant gold intercepts are as follows:

- DDH 06K27; Section 4025E
2.3g/t over 1.1m, beginning at 10.1m
2.6g/t over 2.75m, beginning at 43.1m

- DDH 06K26; Section 4075E and DDH 06K25; Section 4175E
No significant intercepts

Previous drill holes on northern Fonterremula system had the
following intercepts.

- COR 219; Section 3975E
6.4g/t over 1.5m, beginning at 18m

- DDH 06K21; Section 4125E
2.7g/t over 5.35m, beginning at 37.4m


Cova Crea and Peton de Lobo: Soil geochemical surveys, prospecting and preliminary trenching completed during the summer have indicated 300m extensions of the Cova Crea vein systems to the west and the Peton de Lobo vein systems to the east, well beyond their present known definitions. Float samples from the Cova Crea extension assayed up to 20.7g Au/t and from the Peton de Lobo extension up to 9.1g Au/t. Preliminary indications are that Peton de Lobo and Cova Crea extension day-light on hill sides, which would facilitate mine access for these systems.

The program at Corcoesto is being supervised by Dr. C.F. Gleeson, Kinbauri's Vice-president of exploration and a qualified person under N.I. 43-101. For details of Kinbauri's treatment of samples and quality control program, please refer to Kinbauri's press release of March 2nd, 2006.

This press release was prepared by Dr. V.N. Rampton in his capacity as a qualified person.

For further details concerning defined resources and planned exploration refer to Kinbauri's press release of August 24th, 2006, the Resource Report and Kinbauri's 2006 Annual Report, all of which can be viewed on Kinbauri's web-site www.kinbauri-gold.com or alternatively on www.sedar.com.

Kinbauri is a junior gold exploration company with 9,469,189 common shares issued and outstanding and 10,397,189 fully diluted.

THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. AND THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED THE CONTENT OF THIS RELEASE.

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.

Contact Information