Kinbauri Gold Corp.: Update on Glen Eagle Transaction

Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) announces
that it has been informed by Glen Eagle Resources Inc. ("Glen Eagle") (TSX
VENTURE:GER) that due to the court application commenced in connection with its
proposed transaction with Glen Eagle announced on May 12, 2009, the original
funding arrangements made by Glen Eagle are no longer available. Glen Eagle and
Paradise Peak Holdings have indicated that they remain committed to closing the
transaction with Kinbauri and are in the process of making new financial
arrangements. Glen Eagle has advised that it will provide confirmation of its
new funding arrangements by the close of business today.


The special committee of independent directors (the "Special Committee") is
evaluating the takeover bid commenced by Orvana Minerals Corp. and will make a
recommendation to the board of directors. Kinbauri expects to mail its
directors' circular containing its recommendation next week.


In the interim, the Company encourages shareholders not to take any action with
respect to the offer.


THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSX VENTURE EXCHANGE
DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


This press release contains certain forward-looking statements, which are based
on the opinions and estimates of management at the date the statements are made,
and are subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those projected.
Kinbauri undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking statements.


VISIT:

Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri where investors can
post questions and receive answers or review questions and answers already
posted by other investors. Kinbauri Web-Site: www.kinbauri-gold.com