Kilo Goldmines Ltd. ("Kilo" or the "Company") (TSX VENTURE:KGL)(FRANKFURT:02K)
is pleased to report that the resolution authorizing directors to proceed, at
their discretion, with the consolidation of the common shares on an up to 1 for
10 basis, has been approved by shareholders at its annual and special meeting
held on March 6, 2014. 


Messrs. David Netherway, Alex Van Hoeken, James Mustard and Loudon Owen were
re-elected as directors and the incumbent auditors, Collins Barrow Toronto LLP,
were also reappointed.  


Further, the Company is pleased to announce that following its press release
dated January 30, 2014, it has filed on SEDAR, its Canadian National Instrument
("NI") 43-101 Mineral Resources Estimate ("MRE") updating the MRE for the Adumbi
gold deposit and providing maiden Inferred Mineral Resources estimates for the
Kitenge and Mazanko deposits (Somituri Project). The NI 43-101 MRE was prepared
by Roscoe Postle Associates Inc. 


The Company also announced that it has refiled its management's discussion and
analysis for the three months ended December 31, 2013 to add disclosure
regarding a claim that has been received challenging the title to certain DRC
mineral claims held by KGL-Isiro Sarl. Based on legal advice received, the
Company believes this claim to be completely without merit.


About Kilo 

Kilo Goldmines Ltd. is a Canadian gold exploration company, listed on the TSX
Venture Exchange under the symbol 'KGL' and on the Frankfurt Exchange under the
symbol '02K'. Kilo holds exploitation and exploration licences covering some
approx. 2,700 km2 of iron and gold favourable Archaen Kabalian Greenstones in
the northeast Democratic Republic of Congo. 


Incorporated within these licences are: 

- the Somituri Project (71.25% owned by Kilo), comprising eight non-contiguous
licences (606 km2) held by KGL-Somituri Sarl. 


- the KGL Isiro SARL Joint Venture (JV) with Randgold Resources Ltd (2056 km2),
for gold and associated minerals only. The JV is managed by Randgold and
financed by it to a Pre-Feasibility Study (PFS). Upon completion of the PFS, KGL
can participate in funding or Randgold will increase its participation to 65% by
completing a Feasibility Study. Areas which may be deemed of no interest to
Randgold will be returned to KGL. 


Kilo has retained the rights to explore for and develop any iron ore resources
(or other minerals) associated with the licences held by KGL Isiro SARL. These
licences were previously in a JV with Rio Tinto, who has since withdrawn. 


In addition, Kilo has a minority interest in the Hajigak iron ore project in
Afghanistan.


Disclaimer 

This news release may contain forward looking statements concerning future
operations of Kilo Goldmines Ltd. All forward looking statements concerning
Kilo's future plans and operations, including management's assessment, project
expectations or beliefs may be subject to certain assumptions, risks and
uncertainties beyond Kilo's control. Investors are cautioned that any such
statements are not guarantees of future performance and that actual performance
and exploration and financial results may differ materially from any estimates
or projections.


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 FURTHER INFORMATION PLEASE CONTACT: 
Kilo Goldmines Ltd.
Alex van Hoeken
Chief Executive Officer & President
+1 416 360 3406
info@kilogoldmines.com
www.kilogoldmines.com
KGL Resources (TSXV:KGL)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more KGL Resources Charts.
KGL Resources (TSXV:KGL)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more KGL Resources Charts.