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

Kinbauri Gold Corp.

July 08, 2008 11:43 ET

Kinbauri Gold Corp.: Drilling at El Valle Intersects 19.5m of 13g Au/t, 124g Ag/t and 5.6% Cu Including 8.8m of 25g Au/t, 208g Ag/t and 10.7% Cu

OTTAWA, ONTARIO--(Marketwire - July 8, 2008) - Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) is pleased to announce further results from its on-going 23,000m underground in-fill drill program at El Valle (over 85% complete). Highlight of assay results from Black Skarn North ("BSN") and Area 107 ("107") include:

- 19.5m grading 13.0g Au/t, 123.7g Ag/t and 5.63% Cu in DDH 08KV1128, including 8.8m grading 25.3g Au/t, 208.4 Ag/t and 10.69% Cu.

- 2.6m grading 116.1g Au/t, 4.5g Ag/t and 0.26% Cu, and 1.5m grading 15.6g Au/t and 0.3g Ag/t in DDH 08KV1126.

- 30.7m grading 2.7g Au/t, 19.1g Ag/t and 0.63% Cu in DDH 08KV1124, including 3.0m grading 5.5g Au/t, 45.5g Ag/t and 1.10% Cu.

- 5.5m grading 4.7g Au/t, 17.3g Ag/t and 0.12% Cu in DDH 08KV1122, including 1.3m grading 11.0g Au/t, 11.0g Ag/t and 0.23% Cu.

- 8.6m grading 3.1g Au/t, 16.5g Ag/t and 0.54% Cu in DDH 08KV1121, including 2.7m grading 5.9g Au/t, 41.0g Ag/t and 0.13% Cu.

The high gold, silver and copper values found in 08KV1128 appear to result from the Charnela structure intersecting BSN in combination with supergene enrichment. Similar metal enrichment can also be observed in 08KV1120, 25m to the east, where Charnela is again superimposed on BSN: here 9.1m of 12.1g Au/t, 47g Ag/t and 2.69% Cu was intersected (see press release of June 20th, 2008). The full extent of the enriched mineralization along the Charnela structure has not been established.

In-fill DDHs 08KV1122, 08KV1123 and 08KV1125 within the West Area of BSN and DDHs 08KV1124 and 08KV1129 within the East Area of BSN confirm the continuity of Au-Ag-Cu mineralization in those areas (see table below for summary of assays).

DDHs 08KV1121, 08KV1126 and 08KV1127 are in-fill holes within 107. DDH 08KV1126 shows high gold values, 116.1g Au/t, and lesser silver and copper values, 4.55g Ag/t and 0.26% Cu, over 2.6m, typical of the epithermal mineralization that characterizes 107. 08KV1127 lies near the northwest edge of 107 in the vicinity of sections 1 through 3 where it was previously noted that mineralization was waning.

Assays from the latest nine diamond drill holes are summarized as follows:



---------------------------------------------------------------------------
HOLE From To Interval Au Ag Cu Zone/
(DDH)(1) (m) (m) (m) %(2) (g/t) (g/t) (%) Section (3)
---------------------------------------------------------------------------
08KV1129 52.5 70 17.5 39 4.49 5.6 0.41 107/9.5
Including1 52.50 54.15 1.65 " 5.43 5.2 0.13
Including2 60.75 70.00 9.25 " 7.05 8.8 0.71
including2.1 65.00 70.00 5.00 " 11.08 10.5 0.65
---------------------------------------------------------------------------
BSN:
08KV1128 64.45 70.45 6.00 88 2.09 2.7 0.01 CH/950
08KV1128 84.40 103.85 19.45 " 13.04 123.7 5.63
Including 84.40 93.15 8.75 " 25.31 208.4 10.69
---------------------------------------------------------------------------
08KV1127 158.50 159.50 1.00 77 1.08 4.8 0.52 107/1100
---------------------------------------------------------------------------
08KV1126 174.80 177.40 2.60 93 116.13 4.5 0.26 107/9
08KV1126 209.40 210.85 1.45 " 15.55 0.3 0.01
---------------------------------------------------------------------------
08KV1125 73.15 74.55 1.40 44 5.36 38.0 0.06 BSN/950
08KV1125 106.30 108.00 1.70 " 3.16 6.0 0.19
---------------------------------------------------------------------------
08KV1124 139.05 140.55 1.50 32 1.68 12.0 0.76 BSN/12
08KV1124 149.65 156.70 7.05 " 1.62 10.3 0.30
08KV1124 185.00 215.70 30.70 " 2.67 19.1 0.63
Including 185.00 187.00 2.00 " 6.87 33.5 1.02
Including 197.50 200.50 3.00 " 5.45 45.5 1.10
Including 202.70 203.55 0.85 " 14.07 167 6.34
08KV1124 223.10 233.65 10.55 " 1.41 18.7 0.56
Including 232.20 233.65 1.45 " 3.80 44.4 1.15
---------------------------------------------------------------------------
08KV1123 98.55 100.70 2.15 " 5.45 17.1 1.20
Including 99.60 100.70 1.10 " 7.35 23.0 2.03
08KV1123 104.50 126.55 22.05 " 1.52 10.3 0.32
08KV1123 131.60 133.40 1.80 " 2.49 15.0 0.40
---------------------------------------------------------------------------
08KV1122 93.50 97.95 4.45 29 1.88 7.0 0.19 BSN/900
Including 97.20 97.95 0.75 7.38 12.0 0.38
08KV1122 104.40 109.90 5.50 " 4.66 17.3 0.12
Including 107.40 108.65 1.25 " 11.00 11.0 0.23
---------------------------------------------------------------------------
A107/
08KV1121 144.10 152.70 8.60 99 3.07 16.5 0.54 1100
Including 148.50 151.20 2.70 " 5.87 41.0 0.13
---------------------------------------------------------------------------

(1) See Schedules A and B for Location. (2) Percentage estimate of True
Thicknesses. (3) BSN - Black Skarn North, 107 - Area 107, CH - Charnela
Projection


The underground drill program at El Valle and Carles is being supervised by Mr. Santiago Gonzalez-Nistal, 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 a press release of February 27th, 2008. This press release was prepared by Drs V. N. Rampton, P. Eng and C. F. Gleeson, P. Eng. in their capacity as qualified persons. Dr. Rampton will be recording a "Beyond the Press Release" webcast concerning assay results obtained from El Valle and Kinbauri's mine development plans on Kinbauri's official Investor Relations Site at http://www.agoracom.com/IR/kinbauri on or after July 8th, 2008.

About Kinbauri

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 49,584,870 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 at the following addresses:

http://file.marketwire.com/release/2008-26%20Schedules%20A.pdf

http://file.marketwire.com/release/2008-26%20SchedulesB.pdf

OR 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.

Kinbauri Web-Site: www.kinbauri-gold.com

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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