Kimber Resources Inc. (TSX:KBR) VANCOUVER, July 21 /CNW/ - Kimber Resources announces non-brokered private placements of 3,333,333 units with three (3) institutional investors. The units, at a price of $1.50 per unit, will raise gross proceeds of $5,000,000. Each unit will consist of one common share and one-half of one non-transferable share purchase warrant. One full warrant will entitle the holder to purchase one additional common share of the Company for a period of 18 months from the date of issue at a price of $1.80. The shares forming part of the units and any shares acquired upon exercise of the warrants shall be subject to a four month hold period from the date on which the units are issued. Closing of the private placements is subject to the receipt of applicable regulatory approval, including the Toronto Stock Exchange. The net proceeds of the private placement will be used to continue drilling on the Carmen deposit, the Carotare, and the recently announced El Orito Norte exploration target. One RC rig is presently drilling on the Carmen deposit and another RC and one core rig are drilling on the Carotare. Applications are being made for permits to drill on the El Orito Norte lying between the Carmen and the Carotare and are anticipated shortly. Robert Longe, P.Eng. President & CEO Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfil such forward-looking statements and the Company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.