PAYSON, AZ, Oct. 11 /CNW/ - Kansai Mining Corporation (TSX Venture
Exchange: KAN) the Company is pleased to Announce that Mr. Stan Bharti has
become a director.
Mr. Bharti has over 25 years of experience in mining operations, public
markets and corporate finance. Over the last ten years, Mr. Bharti has been
involved in acquiring, restructuring, and financing companies in the resource
sector and has raised over $1.0 billion in the public markets. His experience
in public markets includes acquisitions of resource companies in Europe,
Australia and North and South America. He is a Professional Mining Engineer
and holds a Masters Degree in Engineering from Moscow, Russia and University
of London, England. From 2002 to April 2006, Mr. Bharti was a director and
past president of Desert Sun Mining Corp. (acquired by Yamana Gold Inc. in
2006). Additionally, Mr. Bharti is a director of several public companies
including Aberdeen International Inc. (TSX: AAB) who purchased shares in our
last private placement.
In Kenya, the Company's wholly owned subsidiary, Mid Migori Mining
Company is gearing up to complete a new diamond-drilling programme to augment
that of mid 2006. A drilling contractor has been secured and will commence
coring as soon as the necessary temporary import permits are received from
Kenyan authorities. The next phase of this programme will comprise up to
6000 metres of angled drilling, focussed on 3 of the main mineralised zones
already delineated, MK, Nyanza and Gori Maria, with lesser work at the
Kakula-Kalange-Munyu zone. Other target areas, previously scout drill tested
with initially encouraging results in the general vicinity of the 4 main
zones, such as Macalder, Kunguru, and Bridge and possibly others will form
part of this programme.
After completion of this phase the Company will update the technical
report filed last year. That report stated "From the resynthesisation of all
the data coupled with the 2004 drilling results the Company established that
the 4 main zones of gold mineralization contained as currently explored
33 million tonnes @ 1-10 g/t Au for 1,172,000 ounces as indicated resources."
The complete technical report is also available on the Company's web site at
www.kansaimining.com. Approximately 600 holes have been drilled comprising
more than 50,000 metres.
The Company has issued to employees, executives, directors and
consultants a total of 5,000,000 Stock Options as permitted under the
Company's Stock Option Plan at a price of C$0.12 per share.
This release has been compiled by Mr Bruce Walsham as CEO of Kansai who
is a Qualified Person in terms of National Instrument 43-101.
Kansai Mining Corporation is a mining and exploration company with
interests, in Kenya and Venezuela trading on the TSX Venture Exchange under
the symbol KAN.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release which
has been prepared by management.
All statements, other than statements of historical fact, included
herein, including without limitation, statements regarding potential
mineralization and reserves, exploration results and future plans and
objectives of the Company are forward-looking statements that involve various
risks and uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements.
"B. T. Walsham"
President and Chief Executive Officer
For further information:
For further information: visit our web site at www.kansaimining.com or
contact: B.T. Walsham on +44 1548 843 844, by facsimile on +44 1548 842 378 or
by e-mail, on email@example.com