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Kinbauri Gold Corp.: Kinbauri Advises that ATW Has Terminated Letter Agreement

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^{Published in Stocks and Investing on Friday, July 31st 2009 at 13:28 GMT, Last Modified on 2009-07-31 13:28:48 by Market Wire}  

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.