SOURCE: Konigsberg Corporation

February 20, 2007 12:51 ET

Konigsberg's Yoquivo Gold Silver Project Returns 22.10 g/t Gold, 2,820 g/t Silver

65 Samples Average 1.57 g/t Gold and 137 g/t Silver

TORONTO -- (MARKET WIRE) -- February 20, 2007 -- Konigsberg Corporation (OTCBB: KGBC) (FRANKFURT: F2C) ("Konigsberg" or the "Company") has been informed by operator West Timmins Mining Inc. (TSX: WTM) that it has received extremely encouraging results from its Phase 2 surface sampling program on the Yoquivo Gold- Silver Property in Chihuahua State, Mexico. A total of 65 surface grab and chip samples, collected from portions of several mineralized trends on the Project, returned average grades of 1.57 g/t gold and 137 g/t silver. Individual sample results ranged from detection limits to highs of 22.10 g/t gold and 2,820 g/t silver.

"This Phase 2 program on Yoquivo focussed on evaluating the potential of the southern portion of the Project area, and on tracing extensions to the high-grade vein/breccia discoveries at surface," said Darin Wagner, President of West Timmins Mining. "With the positive results from the Phase 1 program which focussed on identifying areas of the property with near surface bulk tonnage potential, the Phase 2 program and the results of our recently completed airborne geophysical program in hand we are now in a position to begin drilling high priority targets on the Yoquivo Project."

Highlights of the Phase 2 surface sampling program include five samples collected from grab and vein samples ranging from 0.2 to 0.5 metres in width from the El Gambusino trend averaging 4.00 g/t gold and 581 g/t silver (high of 15.45 g/t gold, 2,860 g/t silver). Six samples, collected from veins ranging from 0.2 to 3.0 metres in width along the Texana trend averaged 4.91 g/t gold and 499 g/t silver, including one very high grade vein which returned 22.10 g/t gold and 2,070 g/t silver over 0.3 metres.

Trend           Elevation                          Gold    Silver    Gold
                   (m)                             (g/t)    (g/t)   Equ.*
El Gambusino
(Central)       2180-2220  5 samples along 400m    4.00     581     13.68
(South-East)    2120-2180  6 samples over 50x60m
                                   area            4.91     499     13.22
Mala Suerte
(South)         2320       6 samples along 200m    1.72     151      4.23
*Gold equivalent calculated at 1 g/t gold = 60 g/t silver based on recent metal price ratios.

Mexico's newest gold-silver mine, Ocampo, which reports reserve grades of 1.19 g/t gold and 55.00 g/t silver, is located 35 km northeast and along a regional structural trend the Yoquivo Project. The Yoquivo Gold-Silver Project covers the entirety of the historic Yoquivo mining district. Historically reported production grades from the San Francisco mine, located near the center of the Yoquivo Project, averaged 10.9 g/t gold and 1,120 g/t Ag from underground workings which exhibit widths of 3 to 7 metres. In total 22 historic pits, adits and shafts have now been identified on the property along 6 principal vein/breccia trends from which high-grade gold and silver epithermal style mineralization have been recovered.

The preliminary results from the recently completed airborne magnetic and electromagnetic survey of the Project have also been received. The known mineralized trends on the property display a good correlation with zones of decreased magnetic intensity, related to magnetically destructive alteration along the host trends. A number of additional areas within the Project holdings, which exhibit similar geophysical signatures to the known mineralized trends, have been identified and are high-priority targets for additional drill testing. More detailed results will be forthcoming shortly.

West Timmins has initiated drill permitting for the Yoquivo Gold-Silver Project and approvals are anticipated within the next three to four weeks.

Quality Control and Assurance

Geochemical results reported herein are from grab, chip and channel samples collected from the Company's Yoquivo Gold-Silver Project. Samples were sealed on site and transport under the care and control of the staff of Minera Cascabel S.V. de C.A. on behalf of the Company to the preparation facilities of ALS-Chemex in Chihuahua, Mexico. Samples were assayed for gold by standard fire assay-ICP finish with a 30-gram charge. Samples additionally underwent 34 element ICP-MS analysis. Silver assays in excess of 100 g/t were re-analyzed by fire assay. Mr. Darin Wagner (M.Sc., P.Geo), the Company's President, has acted as qualified person for this news release.


Konigsberg's corporate website can be found at 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 West Timmins Mining Inc. on the 2500 hectare Yoquivo Au-Ag Property in the Yoquivo District, Chihuahua State, Mexico.

Forward-Looking Statements:

This press release contains forward-looking statements, particularly as related to, among other things, Konigsberg's business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, and other factors that may cause Konigsberg's actual results, performance or achievements, or developments in its industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks, uncertainties and other factors that are detailed in Konigsberg's Quarterly and Annual Reports and other documents Konigsberg files from time-to-time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Konigsberg cautions readers not to place undue reliance on such statements. Konigsberg does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Konigsberg's expectations and estimates.

NR 07-02

Contact Information

  • Contact:
    Konigsberg Corporation
    Adam Cegielski
    (905) 882-7044