Oct. 28, 2009 (TheNewswire.ca) --
King's Bay Gold Corporation (TSX.V: KBG) is pleased to announce that it has optioned three un-patented mining claims located in the Raleigh Lake Area in the Kenora Mining District of Ontario. These claims consist of 29 un-patented units located south-west of the Town of Ignace, Ontario.
The northern extension of the claim group is attached to the southernmost part of Consolidated Abaddon Resources Inc.'s southern boundary. A short while back that company released some very high grade assays for Lithium (Li) and Rubidium (Rb). These results were also obtained from some 5 Diamond Drill Holes put down in 2001 by a company called Avalon Ventures Inc. in a swarm of pegmatite dykes in its search for Tantalum (Ta).
A Geo-Chem Survey is presently being carried out on some parts of the King's Bay property in an area where bits of pegmatite fragments were observed at several locations of the project by prospecting crews from King's Bay. Depending on the results of this survey it is likely that an Airborne Magnetic Survey could also be carried out over parts of or over the entire property. We expect to explore the property thoroughly over the next few months.
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 with Mega Precious Metals Inc. (OOTC:MPRXF) (TSXV:MGP) ); (2) The Bobjo Mine, a past producing gold mine (exploring for gold and rare earths elements with Mainstream Minerals Corporation (OOTC:MSMCF) (TSXV:MJO) ); and (3) The Fort Frances property (exploring for PGEs and diamonds).
KBG Shares Outstanding: 52,756,903
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 (TSXV:KBG) 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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