KNB Kinbauri Gold Corp Com Npv

Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) is pleased
to announce that it has signed a binding Letter of Intent with Glen Eagle
Resources Inc. (TSX VENTURE:GER) whereby Glen Eagle will invest C$32M in return
for a 45% interest in Kinbauri Espana S.L., which holds a 100% interest in the
El Valle/ Carles gold/copper project and other exploitation concessions within
the Rio Narcea Gold Belt in Northwestern Spain. The agreement also grants Glen
Eagle the right to buy a further 5% interest for an additional C$5M. Kinbauri
will remain the operator of the project.  M Partners Inc. is acting as financial
advisor to Kinbauri.


The transaction is scheduled to close by May 15, 2009 and is subject to the
customary due diligence, execution of final Shareholder and Operating
Agreements, all necessary approvals of regulatory, stock exchange and securities
authorities and commissions and compliance with requirements of applicable
securities laws.


Dr. Vern Rampton, Ph.D., President and CEO of Kinbauri said that "This funding
should position Kinbauri Espana to raise the remaining funds to expedite
re-start of production at El Valle/Carles. Given the current state of the
financial markets, we are extremely pleased with this agreement. We are also
pleased that our new partner, Glen Eagle Resources and its CEO, Mr. Jean
Labrecque share our intention to aggressively move the project forward to
production."


Other Corporate Development

Following recommendations in the recently completed Scoping Study (SEDAR filed
Technical Report of March 9, 2009) for accessing the El Valle Mine via a decline
near the entrance to the El Valle mill, Kinbauri's engineers have developed a
plan that they believe could significantly reduce pre-production capital
expenditures and shorten the time required to recommence operations at El Valle.
Kinbauri will have this new mine plan vetted in the upcoming feasibility study
which is scheduled to begin in May, 2009.


Dr. Rampton will record a "Beyond The Press Release" on the Company's official
Investor Relations Site at http://www.agoracom.com/ir/kinbauri, where these
developments will be discussed in detail.  The recording is expected to be
available on or after April 17th, 2009.


About Kinbauri:

Kinbauri is a TSXV - Tier 1 Mineral Exploration Company focused on the
development of precious metal prospects in Spain, Nevada and Canada.  Its
immediate focus is to begin operations at its El Valle/Carles property in
Asturias, northwestern Spain by 2011. It has 53,243,051 common shares issued and
outstanding.


THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSX VENTURE EXCHANGE
DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


This press release contains certain forward-looking statements, which are based
on the opinions and estimates of management at the date the statements are made,
and are subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those projected. 
Kinbauri undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change.  The reader
is cautioned not to place undue reliance on forward-looking statements.


Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri where investors can
post questions and receive answers or review questions and answers already
posted by other investors.

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