Kimber announces proposed brokered and non-brokered private placements
January 31 2006 - 3:07PM
PR Newswire (US)
Kimber Resources Inc. (AMEX:KBX, TSX:KBR) VANCOUVER, Jan. 31
/PRNewswire-FirstCall/ -- Kimber Resources Inc. ("the Company") is
pleased to announce proposed brokered and non-brokered private
placements of up to 9,400,000 common shares. The brokered private
placement will be to accredited investors primarily in the United
States and the non- brokered private placement will be to Canadian
investment funds who are already shareholders. No warrants will be
issued to investors or the agents in connection with the offering.
Closing of the private placements is subject to the receipt of
applicable regulatory approval, including the Toronto Stock
Exchange and the American Stock Exchange. The net proceeds of the
private placements will be used to continue exploration and
development drilling on the Carmen and Carotare deposits as well as
the El Orito Norte exploration target and for general corporate
purposes. The common shares are not registered under the Securities
Act of 1933 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. The information contained herein is less than
would normally be disclosed by the Company, however, as the
brokered portion of the private placement is in the United States,
disclosure is limited by applicable US securities laws. About
Kimber Kimber Resources Inc., which holds a 100% interest in the
Monterde property in the Sierra Madre of northern Mexico, is
advancing the Carmen gold- silver deposit towards production. The
Carmen deposit, an underground mine in the 1930's, is a typical low
sulphidation epithermal system, oxidized, and believed to be
suitable for open pit mining. A pre-feasibility study is expected
on the Carmen deposit in April 2006. Two adjacent epithermal
systems first identified in 2005, the Carotare deposit and El Orito
Norte exploration target appear to be similar to the Carmen. The
initial resource estimate on Carotare was reported in November
2005. The goal of the company is to demonstrate at least three
million resource ounces from the two deposits and exploration
target identified. For further information on the company visit
SEDAR or the company website at http://www.kimberresources.com/.
FOR FURTHER INFORMATION PLEASE CONTACT: Darren Klinck Manager,
Corporate Communications or Robert Longe P.Eng President and CEO
North America Toll Free: 1-866-824-1100 Tel: (604) 669-2251 Fax:
(604) 669-8577 Website: http://www.kimberresources.com/ Email:
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. DATASOURCE: Kimber
Resources Inc. CONTACT: Darren Klinck, Manager, Corporate
Communications, or Robert Longe P.Eng, President and CEO, North
America, Toll Free: 1-866-824-1100, Tel: (604) 669-2251, Fax: (604)
669-8577, Website: http://www.kimberresources.com/, Email:
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