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

Kinbauri Gold Corp.

July 21, 2009 15:59 ET

Kinbauri Shareholders Are Advised to Take No Action at This Time Regarding Orvana's Revised Offer

OTTAWA, ONTARIO--(Marketwire - July 21, 2009) - Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) has been advised that Orvana Minerals Corp. ("Orvana") has raised its all-cash offer for Kinbauri to C$0.75 per share from C$0.55 (the "Orvana Offer") and that investors holding 23.6 percent of Kinbauri's outstanding shares have signed lockup agreements in support of the Orvana Offer. The Orvana Offer will expire at 11:59 pm (Vancouver time) on July 31, 2009, unless withdrawn or extended.

On July 12, 2009, Kinbauri announced that it had signed a binding letter agreement with ATW Gold Corp. (TSX VENTURE:ATW) ("ATW") to combine the two companies at the agreed exchange ratio of 1.35 ATW shares per Kinbauri share, which implies a purchase price of C$0.85 per Kinbauri share using closing share prices on July 10, 2009.

Kinbauri's Board of Directors recommends that shareholders do not take any action (including the tendering of shares) with respect to the Orvana Offer, until the Special Committee of the Board of Directors has completed its review and the Board of Directors has had an opportunity to fully evaluate the Orvana Offer and communicate its views to shareholders.

For assistance in withdrawing any shares already tendered, or other questions, please contact Laurel Hill Advisory Group, the Information Agent retained by Kinbauri in connection with the Orvana Offer, toll free at 1-888-812-9184 from anywhere in Canada or the United States and collect at 416-637-4661 from outside North America.

About Kinbauri

Kinbauri (TSX VENTURE:KNB) is a mineral exploration company focused on the development of precious metal prospects in Spain, Nevada and Canada. Its immediate focus is to begin operations at its El Valle/Carles property in Asturias, northwestern Spain in 2010. It currently has 59,348,051 common shares issued and outstanding. For more information visit www.kinbaurimaximized.com or 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.

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.

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