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KEX Bayhorse Silver, Inc.

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Share Name Share Symbol Market Type
Bayhorse Silver, Inc. TSXV:KEX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Kent Closes 1st Tranche of Private Placement for $316,250

05/07/2011 6:12pm

Marketwired Canada


Kent Exploration Inc. (the "Company" or "Kent") (TSX VENTURE:KEX)(FRANKFURT:7KX)
reports that, subject to acceptance for filing of the final documentation by the
TSX Venture Exchange ("TSX-V"), it has closed the first tranche of its
previously announced, up to 12,000,000 Unit non-brokered Private Placement, of
6,325,000 Units for gross proceeds of $316,250.


Each unit consists of one (1) common share and one (1) non-transferable common
share purchase warrant. Each warrant is exercisable for a period of two (2)
years from closing and will entitle the holder to purchase one additional common
share in the capital stock of the Company at a price of $0.10 per common share
for a period of twenty four months. Shares subscribed for in the Private
Placement are subject to a four (4) month plus one day hold period.


Finder Fees consisting of 360,000 compensation warrants (the "Compensation
Warrants") and $18,000.00 in cash is to be paid pursuant to the policies of the
TSX-V. Each Compensation Warrant will entitle the holder to purchase one (1)
common share of the Company for a period of 24 months from the date of issuance
at a price of $0.10 per Compensation Warrant.


The proceeds from the financing are to be used for the Flagstaff Barite Project,
Alexander River Gold Project and for general and corporate purposes.


Kent Exploration Inc. is a junior exploration company that has acquired the
Alexander River, Paparoa and Lyell gold projects in the highly prolific Reefton
gold field in New Zealand and has an approximate 35% interest in, and is the
controlling shareholder of, Archean Star Resources Inc, ("Archean") which is
listed on the TSX Venture Exchange under the symbol ASP. Archean's wholly owned
subsidiary, Archean Star Resources Australia, Pty, Ltd, ("ASRA") has an Option
Agreement, subject to a 75% back in right, to earn 100% of Teck's interest in
Chalice Gold Mines Limited's Gnaweeda Gold Project in West Australia.


The Company has an option to earn a 100% interest in the Silver Hills property,
a silver/ lead/ zinc prospect in south-eastern British Columbia, The Company has
a 100% interest in Coal Prospecting Permits covering approximately 92,000 ha in
east-central Saskatchewan; a 100% interest in a mining lease option on the
Flagstaff Mountain property, a barite-gold-silver-zinc- property in eastern
Washington state, having a fully permitted mine which is approved to produce up
to 100,000 tons of barite per year, and a 100% interest in the mining lease
option on the Ivanhoe Creek property, a Midas-style gold/silver target in
Nevada's Carlin Trend, and 50% of a 100% interest in the Ivanhoe Creek placer
claims covering a bentonite deposit.


This News Release has been prepared on behalf of the Kent Exploration Inc. Board
of Directors, which accepts full responsibility for its contents.


ON BEHALF OF THE BOARD

Graeme O'Neill, President

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