Kimber Resources Inc. (AMEX:KBX, TSX:KBR)
VANCOUVER, Jan. 31 /CNW/ - Kimber Resources Inc. ("the Company") is
pleased to announce proposed brokered and non-brokered private placements of
up to 9,400,000 common shares. The brokered private placement will be to
accredited investors primarily in the United States and the non-brokered
private placement will be to Canadian investment funds who are already
shareholders.
No warrants will be issued to investors or the agents in connection with
the offering.
Closing of the private placements is subject to the receipt of applicable
regulatory approval, including the Toronto Stock Exchange and the American
Stock Exchange.
The net proceeds of the private placements will be used to continue
exploration and development drilling on the Carmen and Carotare deposits as
well as the El Orito Norte exploration target and for general corporate
purposes.
The common shares are not registered under the Securities Act of 1933 or
any state securities laws and may not be offered or sold in the United States
absent registration or an applicable exemption from registration requirements.
This announcement is neither an offer to sell nor a solicitation of an offer
to buy any of these securities.
The information contained herein is less than would normally be disclosed
by the Company, however, as the brokered portion of the private placement is
in the United States, disclosure is limited by applicable US securities laws.
About Kimber
Kimber Resources Inc., which holds a 100% interest in the Monterde
property in the Sierra Madre of northern Mexico, is advancing the Carmen gold-
silver deposit towards production. The Carmen deposit, an underground mine in
the 1930's, is a typical low sulphidation epithermal system, oxidized, and
believed to be suitable for open pit mining. A pre-feasibility study is
expected on the Carmen deposit in April 2006. Two adjacent epithermal systems
first identified in 2005, the Carotare deposit and El Orito Norte exploration
target appear to be similar to the Carmen. The initial resource estimate on
Carotare was reported in November 2005. The goal of the company is to
demonstrate at least three million resource ounces from the two deposits and
exploration target identified. For further information on the company visit
SEDAR or the company website at www.kimberresources.com.
Cautionary Statement
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.
