King's Bay Gold Corporation
TSX VENTURE : KBG

King's Bay Gold Corporation

September 20, 2005 09:56 ET

King's Bay Gold Signs Letter of Intent with Goldcorp

WINNIPEG, MANITOBA--(CCNMatthews - Sept. 20, 2005) - King's Bay Gold Corporation. (TSX VENTURE:KBG) is extremely pleased to report that it has signed a Letter of Intent with Goldcorp Inc. (TSX:G)(NYSE:GG).

This Letter of Intent is confirmation of King's Bay Gold Corporation ("King's Bay Gold") intention to enter into an option agreement with Goldcorp Inc. ("Goldcorp") which agreement will grant King's Bay Gold the option to earn a 50% interest in Goldcorp's Rowan Lake property in Red Lake.

The Letter of Intent requires both parties to draft a definitive agreement and terms of any subsequent joint venture. Property description and all additional information will be available upon finalization of the agreement.

About King's Bay Gold

King's Bay is unique in the industry in that it owns most of the equipment required to carry out the various phases of exploration. This includes diamond drills, bulldozers and other exploration equipment, which gives the company the ability to quickly adjust work programs as exploration results are realized and company strategies change. This very active Canadian mineral exploration Company is debt free, well financed and has assembled a very impressive portfolio of precious metal prospects, including strategic locations in the Red Lake, Bissett and Pickle Lake gold camps.

TSX.V Trading Symbol (KBG)

Outstanding Shares: 19,802,799

On behalf of the Board:

Richard Rivet, President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The statements contained in this news release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from targeted results. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The Company relies upon litigation protection for forward looking statements.

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