OTTAWA, ONTARIO-(Feb. 17, 2009) - Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) announced today that it has approved the issuance of 1,250,000 incentive options under its Stock Option Plan to directors, officers, consultants and employees. The options were distributed amongst 33 individuals in Spain and 10 in Canada and are subject to regulatory approval. The options were issued at an exercise price of C$0.53 per share and expire on February 16, 2012. The securities issuable upon exercise of the options are subject to a four month hold from the date of grant.
About Kinbauri:
Kinbauri is a TSXV - Tier 1 Mineral Exploration Company focused on the development of mineral properties, primarily precious metal prospects in northwestern Spain, Nevada and Canada. Its immediate focus is to expand and upgrade resources to reserves at the El Valle property in Asturias, Spain in order to start operations at the mine and existing mill complex there in 2011. It currently has 48,894,450 common shares issued and outstanding.
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.
Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri where investors can post questions and receive answers or review questions and answers already posted by other investors. Kinbauri Web-Site: www.kinbauri-gold.com
CONTACT INFORMATION:
North America
Darrell Munro, BB.A, LL.B, Manager, Corporate Communications
613-836-0198
dmunro@kinbauri-gold.com
or
Dr. Vern Rampton, P. Eng.
President
613-836-2594
Fax: 613-831-2730
vrampton@kinbauri-gold.com / kinbauri@kinbauri-gold.com
or
Europe
INVESTEL
Ruediger (Rudy) Hnyk, CEO
Investor Relations & Telecommunications
Fax: ceo@investel.de
