SOURCE: Konigsberg Corporation

January 23, 2007 16:22 ET

Yoquivo Project Yields Average Grades of 1.25g/t Gold and 72 g/t Silver From Phase 1 Surface Sampling

RICHMOND HILL, ON -- (MARKET WIRE) -- January 23, 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 1 surface sampling program on the Yoquivo Gold-Silver Property in Chihuahua State, Mexico.

The recently completed Phase 1 surface sampling program included a total of 67 grab and chip samples collected from 3 mineralization trends on the Project, return average grades of 1.25 g/t Gold and 72 g/t Silver. Individual sample results ranged from a low of 0.02 g/t Gold and 0.3 g/t Silver to a high of 9.53 g/t Gold and 1,200 g/t Silver.

"The Phase 1 surface sampling results from Yoquivo indicate the potential of the Project to host both near surface, bulk mine-able as well as significantly higher grade vein/breccia styles of gold-silver mineralization," said Darin Wagner, President, West Timmins Mining. "The gold-silver mineralization at Yoquivo is similar in grade and character to the mine at the nearby Ocampo Deposit which reports reserve grades of 1.19 g/t Gold and 55g/t Silver and which has recently entered into production."

The Phase 1 surface sampling program concentrated on the northern portion of the Yoquivo Project area where recent geological mapping has identified a broad zone of sheeted quartz veining and breccia zones in the La Nina (Central-North) area. Twenty-eight samples collected over 700x225 m area in the La Nina (Central-North) area returned average grades of 1.76 g/t Gold and 80.35 g/t Silver (Table 1).

Vertical Zoning is evident within the Yoquivo epithermal system with just the uppermost levels of the precious metal zone being exposed at the highest topographic levels of the Property (El Dollar - West Trend). A very significant increase in silver and overall precious metal content is observed in exposure of progressively deeper levels of the epithermal system at lower elevations in the Dolores (East Trend) area.

-----------------------------------------------------------------------
Trend             Elevation                         Gold   Silver  Gold
                     (m)                           (g/t)   (g/t)   Eq.*
                                                                   (oz)
-----------------------------------------------------------------------
-----------------------------------------------------------------------
El Dollar(West)   2360-2420 9 samples along 1,110m  0.55    7.89   0.68
-----------------------------------------------------------------------
El Gambusino      2180-2220 5 samples along  250m   2.28    4.44   2.35
(Central)
-----------------------------------------------------------------------
La Nina(Central   2140-2200 28 samples over area    1.76   80.35   3.10
- North)                    700x225m
-----------------------------------------------------------------------
Dolores(East)     2080-2200 9 samples along 550m    1.84  261.32   6.20
-----------------------------------------------------------------------

* Gold equivalent calculated at 1g/t gold = 60 g/t silver based on recent
metal price ratios.
The Companies have also been advised by Aeroquest International Limited that the airborne magnetic and electromagnetic survey of the Yoquivo Property has been completed. Final results of the survey should be received during the next two to three weeks.

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 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 07-01

Contact Information

  • Konigsberg Corporation

    Adam Cegielski, President
    (905) 882-7044