Kimber Resources Inc. (TSX:KBR) VANCOUVER, Aug. 26 /CNW/ - Kimber Resources Inc. (the "Company") (TSX: KBR) is pleased to announce that it has closed a non-brokered private placement of units to raise gross proceeds of $4,999,998. The investors are funds managed by Sprott Asset Management Inc. and two other institutional investors based in the United States. All of the units were issued at a price of $1.50 per unit and each unit consists of one common share and one-half of a non-transferable warrant, with one whole warrant entitling the holder to purchase one additional common share at $1.80 until February 26, 2007. No commissions or brokerage fees are payable in respect of this financing other than a finder's fee of $40,000 to an investment brokerage firm in respect of 1,333,332 units. The shares and warrants comprising the units and any shares to be issued upon the exercise of any of the warrants are subject to a hold period under applicable Canadian securities laws and the policies of the Toronto Stock Exchange (TSX). This hold period expires at midnight on December 26, 2005. The private placement is subject to final acceptance by the TSX. 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. Permits to drill on the El Orito Norte 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.