Kinbauri Advises that ATW has Terminated Letter Agreement

8/1/2009, 1:52 AM (Source: GlobeNewswire)
OTTAWA, ONTARIO--(Marketwire - July 31, 2009) - The board of
directors of Kinbauri Gold Corp. ("Kinbauri")(TSX VENTURE:
KNB)(FRANKFURT: 3KG.DE) today advised that they have received notice
from ATW Gold Corp. (TSX VENTURE: ATW) ("ATW") that ATW has
terminated the letter agreement dated July 12, 2009 to combine
Kinbauri and ATW. Given the short notice, Kinbauri's board has not
had the opportunity to consider all of its alternatives and is unable
to make a recommendation to shareholders at this time regarding the
offer of Orvana Minerals Corp. (the "Offer"). After considering all
alternatives, Kinbauri's board will provide its recommendation to
Kinbauri's shareholders regarding the Offer.

The directors and officers of Kinbauri advise that they have not
tendered their shares to the Offer.

For questions, please contact Laurel Hill Advisory Group, the
Information Agent retained by Kinbauri in connection with the Orvana
Offer, toll free at 1-888-812-9184 from anywhere in Canada or the
United States and collect at 416-637-4661 from outside North America.

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.

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.

Contacts:
Kinbauri Gold Corp.
Dr. Vern Rampton
President & CEO
613-836-2594
613-831-2730 (FAX)
vrampton@kinbauri-gold.com

Kinbauri Gold Corp.
Darrell Munro, BB.A, LL.B, Manager,
Corporate Communications
613-836-0198
dmunro@kinbauri-gold.com

Europe
INVESTEL
Ruediger (Rudy) Hnyk, CEO
Investor Relations & Telecommunications
ceo@investel.de
www.kinbauri-gold.com


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