SOURCE: Konigsberg Corporation

August 21, 2006 09:00 ET

Konigsberg Corporation Reports on Historical Bonanza Gold and Silver Grades on the Yoquivo Au-Ag Property

OAKVILLE, ON -- (MARKET WIRE) -- August 21, 2006 -- Konigsberg Corporation (OTCBB: KGBC) (FRANKFURT: F2C) ("Konigsberg" or the "Company") is pleased to announce that the 2006 Exploration Program has started on the Yoquivo Au-Ag Property. Now that exploration is underway, the company would like to update shareholders on past production in the Yoquivo mining district. Konigsberg has the right to earn up to a 75% joint venture interest with Sydney Resource Corp. (TSX-V: SYR) in the Yoquivo Au-Ag property located in Chihuahua State, Mexico ("Yoquivo Au-Ag Property").

The mining concessions that comprise the Yoquivo Project are located approximately 210 km WSW of the city of Chihuahua, in the Municipality of Ocampo, state of Chihuahua. The total area of these concessions covers approximately 2500 hectares. The Yoquivo district has been worked recurrently for over 140 years, going back to the late 1800s. The most productive years of the Yoquivo mining district were between 1908 to 1926 when 728,000 grams of gold, and 75 million grams of silver were produced from steeply dipping, siliceous veins in the footwall to the main San Francisco fault/vein (this production was by the Yoquivo Development Company of New York, New York). Average grades during this peak production period are reported as 10.9 g/t Au and 1120 g/t Ag.

Selected grabs samples provided by the property vendor from the San Francisco and Esperanza Veins exposed in the underground workings returned the following results. These results are consistent with the bonanza grades reported by previous workers.

---------------------------------------------------------------------------
Sample           Gold        Gold       Silver    Silver       Location
                 (g/t)       (g/t)      (ppm)     (ppm)        Sample
Designation      FA/AA      FA/GRAV     AA/AQR    FA/GRAV
---------------------------------------------------------------------------
ESP 1            77.534     76.712                 265.1        Vein
---------------------------------------------------------------------------
ESP 2             0.301                   110                   Vein
---------------------------------------------------------------------------
ESP 3             0.158                   8.5                   Vein
---------------------------------------------------------------------------
SFC 1             0.148                  13.4                   Vein
---------------------------------------------------------------------------
SFC 2             0.178                    75                   Vein
---------------------------------------------------------------------------
ESP G 1          27.123     26.232                 2244.3   Grabs from Dump
---------------------------------------------------------------------------
ESP G 2         217.534    209.863                19886.9   Grabs from Dump
---------------------------------------------------------------------------
SFC G 1           2.602                   114               Grabs from Dump
---------------------------------------------------------------------------
The current owner of the land has held the Yoquivo Au-Ag Property since 1956. A small-scale, fully functional 75-100 tpd gravity mill owned by the property vendor is located on site. The property is road accessible, and mapping has now started on the property.

"With substantial previous production on the property, and bonanza grades reported of over 200 g/t gold and 19,800 g/t silver, management is excited to have moved to the exploration stage on the Yoquivo Au-Ag Project. We are not only encouraged about the historical grades but are thrilled about the exploration and production of this region," stated Adam Cegielski, President of Konigsberg.

ABOUT THE COMPANY

Konigsberg's corporate website can be found at www.KonigsbergCorp.com. Details of the Yoquivo Au-Ag Property can be found under the Projects section of the website. A detailed PowerPoint presentation is also available on the company home page under the Quick Link section. Shareholders are advised to sign up to the company e-mail distribution list in order to stay up to date with company developments.

Konigsberg Corporation ("Konigsberg") (OTCBB: KGBC) is a mineral exploration company focused on Gold-Silver exploration in the Sierra Madre Occidental Gold-Silver Province of Mexico. The Sierra Madre Occidental Gold Province is the primary gold/silver trend in Mexico. Konigsberg has entered into a 50/50 joint venture with Sydney Resource Corp. (TSX-V: SYR) on the 2500 hectare Yoquivo Au-Ag Property in the Yoquivo District, Chihuahua State, Mexico. Yoquivo lies in the Sierra Madre Occidental Gold-Silver Province, 30km southeast of the Gammon Lake Resources Inc.'s Ocampo Deposit (AMEX: GRS) / (TSX: GRS). Other high-profile gold-silver projects in the area include Glamis Gold Ltd. (NYSE: GLG) / (TSX: GLG) "El Sauzal" deposit, and Agnico-Eagle Ltd.'s "Pinos Altos" Project. Konigsberg holds an option to acquire a 75% interest in the Yoquivo Project.

Forward-Looking Statements:

Except for statements of historical fact, the information presented herein may contain forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Konigsberg Corporation has little or no control.

Contact Information

  • Contact:
    Adam Cegielski
    President
    905-330-1189