Kimber announces non-brokered private placement and plans to drill test depth potential of Monterede gold-silver project

    VANCOUVER, Feb. 8 /CNW/ - Kimber Resources Inc. (AMEX:  KBX, TSX:KBR) is
pleased to announce that it plans to complete a non-brokered private placement
of up to 6,666,667 units to raise $5 million, subject to a possible
oversubscription of up to an additional $1 million on the same terms. The net
proceeds of the private placement will be used for exploration of the
Company's Monterde, Pericones and Setago properties, advancement of Carmen and
general corporate purposes. In particular the Company is planning to use core
drills to drill Carmen at depth, as well as other targets at Monterde.
    "The funds raised will allow Kimber to resume drilling at its Monterde
gold-silver project in the prolific Sierra Madre gold-silver belt of Mexico,"
said Gordon Cummings, President & CEO of Kimber Resources. "Evidence from
other gold-silver deposits in the Sierra Madre and deeper drill holes
completed by Kimber, combined with our improved geologic understanding of the
Monterde property, suggests there is excellent potential to extend higher
grade mineralization to depth. This could significantly enhance the potential
economics of the Monterde project."

    Placement Details
    Each unit will be priced at C$0.75 and will consist of one common share
plus one half of one non-transferable common share purchase warrant, each
whole warrant entitling the holder to purchase one additional common share at
a price of C$1.25 per warrant share for a period of 24 months from the date on
which the units are issued. A finder's fee in cash and/or common shares of 7%
will be paid by the Company on certain subscriptions from subscribers
introduced to the Company by an independent third party. These certain
subscriptions are expected to comprise less than 15% of the total private
placement. Insiders of the Company may participate in the private placement in
an aggregate amount not to exceed 10% of the total private placement.
    Closing of the private placement is subject to the receipt of applicable
regulatory approval, including the approval of the Toronto Stock Exchange and
the American Stock Exchange.
    The common shares forming part of the units and any warrant shares
acquired on the exercise of the warrants will be subject to a four (4) month
hold period from the date on which the units are issued. The common shares to
be issued pursuant to the private placement are not registered under the
Securities Act of 1933, as amended, or any state securities laws and may not
be offered or sold in the United States absent registration or an applicable
exemption from registration requirements. This announcement is neither an
offer to sell nor a solicitation of an offer to buy any of these securities.

    About Kimber

    Kimber owns mineral concessions covering approximately 32,000 hectares in
the prospective Sierra Madre gold-silver belt, including the Company's
Monterde property where three gold-silver deposits have already been
identified, including the Carmen deposit. The Carmen deposit, which has been
extensively drilled, is currently undergoing detailed geologic modeling in
order to evaluate the potential for a combined open pit and underground mining
operation based on current resources. Further, reconnaissance exploration
carried out in 2007 identified a number of new exploration targets. In
addition, the Company has a 100% interest in the mineral concession of its
Pericones property, a 6300 hectare property targeted for silver, located
approximately 100 kilometres southwest of Mexico City.

    Cautionary Statement
    Statements in this release may be viewed as forward-looking statements.
Such statements involve risks and uncertainties that could cause actual
results to differ materially from those projected. There are no assurances the
Company can fulfil such forward-looking statements and the Company undertakes
no obligation to update such statements. Such forward-looking statements are
only predictions; actual events or results may differ materially as a result
of risks facing the Company, some of which are beyond the Company's control.

For further information:

For further information: Matthew Hamilton, Manager of Investor
Relations, or Gordon Cummings CA, President and CEO, North America Toll Free:
1-866-824-1100, Tel: (604) 669-2251, Fax: (604) 669-8577; Website:, Email:

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