Kilo Goldmines Ltd.
Kilo Goldmines Ltd. is a Canadian-based gold exploration and development company with principal projects in the far northeastern Kilo-Moto area of the Democratic Republic of the Congo, which promises to become one of Africa's most significant gold producers. While the (DRC) has a history of violent civil unrest in the last decade, political stability is slowly emerging, aided by the United Nations, the World Bank, and a host of non-governmental organizations. The Congolese Government is also taking definitive action to attract and work with foreign investors, promising fair and transparent treatment to private businesses. Recent legislation includes a new investment code, a new mining code, and a new commercial court.
Kilo has over 16,000 square kilometers of claimed property mainly (95%) in Orientale Province in what is known as the Kilo-Moto granite greenstone belt. Although artisanal mining and exploration have been carried out in the area sporadically since gold was first discovered in the area in 1905, no modern exploration techniques - techniques that have improved dramatically over the last 20 years - have been used in this area. The Kilo-Moto greenbelt is the last large belt in the world that has not undergone modern exploration techniques.
Historical production of gold in the Kilo-Moto belt has been approximately 11M ounces. In the early 1990s, official DRC gold production was estimated at 300,000 ounces to 325,000 ounces but shrank to 165,000 ounces in 2004 due, most likely, to political unrest. French and Belgium records on Kilo Goldmines properties from before independence in 1960 for the Kilo-Moto gold belt dating back to the beginning of the 20th century indicate that some 640,000 ounces of gold have been produced. Many unrecorded other ounces have been produced, and there is much artisanal mining activity today, indicating a rich potential. Past estimates are also considered low as they have relied on outdated exploration techniques. In December 2007, Moto Goldmines, which operates in the same region as Kilo, published a feasibility study conducted by independent geological consultants Cube Consulting Pty Limited that estimated resources of 77.8 million tons at 2.8 g/t Au for 7.0 million ounces of gold and inferred resources of 98.9 million tons at 3.8 g/t Au for 12.1 million ounces of gold.
Kilo's board of directors and management teams located in Canada and the DRC are seasoned mining professionals with a successful history of gold exploration and development in Africa. President and CEO Klaus Eckhof is a geologist with 20 years experience of developing mineral deposits around the world. Since 2003, Mr. Eckhof has been working in the Kilo-Moto region, where he and his team have where he and his team delineated 20 million ounces of gold and delivered a feasibility study within 4 years from commencement of exploration. Peter Hooper, Executive Chairman, has been an instrumental participant in mining production, exploration, reorganization, finance and re-training in South Africa, Ghana, and Mali, as well as Canada, Australia, and China. He has extensive global relations and close corporate ties in 20 countries; he is also fluent in French.
Kilo Goldmines is well positioned to unlock shareholder value while helping contribute to the growing stability of the region. It has obtained all needed mineral exploration and exploitation licenses from the DRC government and is moving forward with exploration of those properties with the most significant potential. Kilo Goldmines (KGL) is listed on the Toronto Stock exchange with share holdings of 62,100,000.
141 Adelaide Street West Suite 1200 Toronto, Ontario, Canada M5H 3L5 Telephone: +1 416 3603415 183 Kalembe Lembe Commune de Lingwala Kinshasa, DRC 2253
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