Dec. 3, 2010 (TheNewswire.ca) --
King's Bay Gold Corporation (TSX.V: KBG) is pleased to announce it has now successfully completed the 2010 drilling program on the Menary Property near Nestor Falls. The company drilled over 1900 m. in 16 holes at the Wagg Gold Occurrence and will shortly release results from holes Men 10-07 to Men 10-10. Results from holes 11-16 will be announced when the remaining assays have been received from the lab. The company has also carried out ground Max-Min VLF-EM and a Magnetometer survey over its claims in Menary and Claxton Townships as well as its holdings in the Brooks Lake area (3 claims) along the prolific Pipestone Lake fault. These claim groups are located close to or along strike with the Rainy River district of Kenora where there has been considerable activity and results reported this summer (see ref.: Rainy River Resources (TSXV:RR) (TSX.V-RR) and Bayfield Res. (TSX.V-BYV) drilling that is presently being conducted around the Off Lake and Richardson Twp. Gold Projects). In 2011, King's Bay intends to continue its drill program to test a number of other targets over its nine claims that covers the historical Wagg, Galbraith ‘A', and Galbraith ‘B' Gold Occurrences, under option from William McNerney and Western Troy Capital Corp.
The company has also just finished a sampling and reconnaissance program over its 100 % owned Raleigh Lake claim group where over 70 samples were taken and sent in for Rare-Earth analysis at an independent lab in Thunder Bay, Ontario. This area has historical values in rare-earth elements and the results, once received, will determine the company's direction in the New Year for further exploration on this property, located near Ignace, Ontario.
All the company's work has been supervised in the field by Mr. Russell Crosby, MSc., P.Geo., our Qualified Person (QP) as defined by the National Instrument 43-101.
The Company also wishes to announce that it has accepted the resignations of two of its Directors, Ginette Camire and Catherine Kiang. We thank them for their service to the company and wish them good luck in their future endeavors. The company will replace these Directors immediately and go forward with its planned work programs and new property acquisitions.
About Kings Bay Gold
King's Bay Gold is unique in that it owns most of the equipment required to carry out various phases of exploration. The Corporation is a very active Canadian mineral exploration company.
KBG Shares Outstanding: 76,986,902
King's Bay Gold Corporation
John Archibald, P.Geo.
President & CEO
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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