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KNB Kinbauri Gold Corp Com Npv

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Share Name Share Symbol Market Type
Kinbauri Gold Corp Com Npv TSXV:KNB 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 -

New Directors Appointed to Kinbauri's Board

31/08/2009 4:00pm

Marketwired Canada


Kinbauri Gold Corp. (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) today announced the
appointment of Peter Bradshaw, Richard Garnett, Kent Jespersen, Malcolm King and
Robert Mitchell to its board of directors.  The new directors have been
appointed in connection with the acquisition by Orvana Minerals Corp. of a
majority of Kinbauri's outstanding common shares. In connection with these
appointments, each of Vern Rampton, Marilyn Bloovol, Christopher Gleeson and
Brian McEwen has resigned as a director of Kinbauri.


Kinbauri also announced the resignations of Vern Rampton as President and Chief
Executive Officer, Simon Britt as Chief Financial Officer, Christopher Gleeson
as Vice-President Exploration, and Christopher Irwin as Secretary, and the
appointment of Malcolm King as President and Chief Executive Officer, Bill
Williams as Vice President, Corporate Development, and Wendy Sikora as Corporate
Controller.


Kinbauri also confirmed that it is in the process of mailing a circular to
shareholders in connection with its previously announced shareholders' meeting
to be held on September 22, 2009. At the meeting, shareholders will be asked to
approve the amalgamation of Kinbauri and Orvana Minerals Acquisitions Corp., a
wholly-owned subsidiary of Orvana Minerals Corp.  The corporation resulting from
the proposed amalgamation will be a wholly-owned subsidiary of Orvana Minerals
Corp.  As a result of the amalgamation, Kinbauri shareholders other than Orvana
Minerals Acquisition Corp. and any shareholders who exercise statutory dissent
rights will be entitled to receive $0.75 for each Kinbauri common share held by
them. Kinbauri has been advised by Orvana Minerals Corp. that, through it its
wholly-owned subsidiary Orvana Minerals Acquisition Corp., Orvana has acquired
approximately 94.9% of Kinbauri's outstanding shares and that it intends to vote
in favour of the proposed amalgamation. It is anticipated that the corporation
resulting from the amalgamation will take steps to delist its shares from
trading on the TSX Venture Exchange and to cease to be a reporting issuer under
applicable securities laws.


About Kinbauri

Kinbauri (TSX VENTURE:KNB) is a mineral exploration company focused on the
development of precious metal prospects in Spain, Nevada and Canada.


Forward Looking Disclaimer

Certain statements contained in this press release concerning objectives, goals,
strategies, intentions, plans, beliefs, expectations and estimates are
forward-looking statements. The words "believe", "expect", "intend", "may",
"anticipate", "will", "would" and similar expressions and the negative of such
expressions are intended to identify forward-looking statements, although not
all forward-looking statements contain these identifying words. These
forward-looking statements are not based on historical facts, but rather on
current expectations, assumptions and projections about future events. While
Kinbauri considers these expectations, assumptions and projections to be
reasonable based on information currently available, they may be proven to be
incorrect. Known and unknown factors could cause actual results to differ
materially from those projected in the forward-looking statements. Such factors
include, but are not limited to, risks relating to any failure by Orvana to
acquire the remaining outstanding shares of Kinbauri that it does not own;
general economic conditions; dependence on key personnel; and variations in
required capital expenditures. Given these uncertainties, readers are cautioned
not to place undue reliance on such forward-looking statements.


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