Press Release
Jun 01, 2009 13:00 ET
Kilo-Rio Tinto Joint Venture Moves Forward With Completion of Conditions Precedent
TORONTO, ONTARIO--(Marketwire - June 1, 2009) - Kilo Goldmines Ltd. ("Kilo") (TSX VENTURE:KGL) announced today that it has completed the 'Conditions Precedent' as per the Earn-in with Option to Joint Venture Agreement in respect of the Iron Ore Project, Democratic Republic of Congo' signed November 13, 2008 with Rio Tinto Mining and Exploration Limited ("Rio Tinto").
The existing Research Permits have been extended to include iron by the DRC regulatory bodies.
The Rio Tinto managed exploration programme is making progress. Rio Tinto has imported the required vehicles and equipment and has constructed an exploration camp. Recruitment and training of local staff has been undertaken and local stakeholder engagement is underway.
Rio Tinto is a leading international mining group headquartered in the United Kingdom, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange. Rio Tinto's business is finding, mining and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Rio Tinto follows the very best practices in safety, ethical business, social and environmental responsibility, and sustainable development. Rio Tinto respects human rights wherever it operates.
About Kilo Goldmines Ltd.
Kilo is a Canadian-based exploration company focused on gold exploration in North Kivu and Oriental Provinces of the DRC. The company holds gold Mineral Rights on 400 square kilometres in North Kivu Province and on 15,000 square kilometres in Oriental Province. The company is focused on adding shareholder value through exploration success. Kilo is engaged in social programs and operates in a manner that respects the environment.
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.
For more information, please contact:
Kilo Goldmines Ltd.Peter Hooper
President
(416) 360-3402
[email protected]
www.kilogoldmines.com
