Oct. 2, 2009 (TheNewswire.ca) --
King's Bay Gold Corporation (TSX.V: KBG) announced today that it will be amending the terms of the Private Placement Offering previously announced on September 12, 2009. The Private Placement Offering, scheduled to close on or about October 5, 2009, will no longer require an aggregate maximum offering of Class "A" Units or Class "B" Units, however the maximum subscription proceeds shall remain $600,000.00. The press release of September 12, 2009 indicated that the offering would have an aggregate maximum offering of 3,750,000 Class "A" Units and an aggregate maximum offering of 3,750,000 Class "B" Units. King's Bay Gold Corporation (TSXV:KBG) will accept subscriptions for such number of Class "A" Units and Class "B" Units as it shall determine in its sole discretion, provided that the maximum subscription proceeds shall remain $600,000.00.
About Kings Bay Gold
King's Bay Gold is unique in the industry in that it owns most of the equipment required to carry out the various phases of exploration. The Corporation is a very active Canadian mineral exploration company with mineral projects located in Canada's main gold camp - Red Lake, ON. Strategic properties include - (1) The Headway, a property located in Red Lake, ON (exploring for gold); (2) The Bobjo Mine, a past producing gold mine (exploring for gold and rare earths elements); and (3) The Fort Frances property (exploring for PGEs and diamonds).
KBG Shares Outstanding: 45,256,903
King's Bay Gold Corporation
John Archibald
President & CEO
(204) 253-4653
info@kingsbaygold.com
www.kingsbaygold.com
This news release includes certain forward-looking statements concerning the future performance of King's Bay Gold Corporation's business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing and as described in more detail in the Company's recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and readers are cautioned against placing undue reliance thereon.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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