New property 7.9 grams / ton averageKent Exploration Inc.: Property Acquisition
Tuesday November 28, 1:37 pm ET
BURNABY, BRITISH COLUMBIA--(CCNMatthews - Nov. 28, 2006) - Kent Exploration Inc. (the "Company") (TSX VENTURE:KEX - News) announces that, subject to the approval of the TSX-V, it has entered into a Mining Lease Option with North River Minerals, LLC on the Brokers Best claims, Northport, WA.
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The property, which is highly prospective for gold and silver mineralization, lies approximately 5 miles west of the town of Northport, WA, and approximately 15 miles to the south of Rossland, BC.
In a 1981 report, M. Eugene Hartley, Chief Geologist of CE Minerals ("CE") of Athens, Georgia, reported numerous gold and silver occurrences. 810 feet of the samples assayed from the reported 19,290 feet of RC drilling by CE reportedly averaged 7.9 grams/ton
(0.254 ounces/ton). Of 924 fire assays performed for gold and silver, the highest assay reported was obtained in Section 5, hole 39C, where in a 60 foot intersection, the 20-40ft interval graded 55.36 grams/ton (1.78 ounces/ton), the 40 - 60 ft interval graded 60.4 grams/ton (1.942 ounces/ton) and the 60 - 80 ft interval graded 6.15 grams/ton (0.198 ounces/ton).
The work program reportedly outlined a resource of 551,155 short tons of barite with a grade of 4.2SG and a probable resource of 1,173,690 short tons of barite. Barite is a heavy additive (weighting agent) used in oil and gas-well-drilling.
Note: The Company advises that the gold grades and the barite resource presented were taken from reports that, while probably reflecting the standards of the time, are of a historic nature and have not been confirmed by the Company. They were prepared prior to the implementation of NI-43-101 standards and should not be relied upon.
The term of the Lease is for up to 20 (twenty) years, with an initial lease payment of US$25,000. (twenty-five thousand dollars, U.S.) and a payment of US$15,000 and 100,000 common shares of the Company to North River for CE Minerals original exploration database.
There is a 3.0% Net Smelter Return ("NSR") production royalty on all Bullion products produced and a 5.0% NSR production royalty on all Barite products produced from each of the North River Claims. A C$300,000 work commitment is required to be completed by the second anniversary date of the Mining Lease.
Kent Exploration Inc. is a junior exploration company that has earned a 50% interest in the Ivanhoe Creek property, a Midas-style target in Nevada's Carlin Trend, and is earning a 100% interest in the Rosebud property, a gold/silver prospect in northern Arizona.
This News Release has been prepared on behalf of the Kent Exploration Inc. Board of Directors, which accepts full responsibility for its contents. This News Release has been reviewed and approved by Marvin A. Mitchell P. Eng., a company director and Qualified Person as defined by N.I. 43-101
ON BEHALF OF THE BOARD
Graeme O'Neill, President