VANCOUVER, July 26, 2011 /PRNewswire/ - Kimber Resources Inc. (NYSE AMEX:KBX) (TSX:KBR) is pleased to announce that it has closed the bought deal private placement announced July 7, 2011 (the "Offering"). Kimber has issued 5,060,000 common shares (the "Shares") at a price of $1.60 per Share, for gross proceeds of $8,096,000.
The net proceeds of the Offering will be used for exploration and development at the Monterde property, including a pre-feasibility study and continued drilling, and for general corporate and working capital purposes.
The Shares issued through the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United StatesSecurities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Kimber
Kimber owns mineral concessions covering in excess of 39,000 hectares in
the prospective Sierra Madre gold-silver belt, including the Monterde
property, where three gold-silver mineral resources have already been
defined. The most advanced of these, the Carmen deposit, has been
extensively drilled and has undergone detailed geologic modeling. The
completion of the Preliminary Assessment for Monterde in 2010
represented a significant step forward for Kimber and is expected to
lead to further development and more advanced economic studies at the
Monterde deposits including the completion of a pre-feasibility study
during 2011.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward looking statements
Statements in this release may be viewed as forward-looking statements,
including statements regarding the further development, expected
results and future economic assessments of the Monterde project. When
used in this press release, the words "expect", "intend", "hopes",
"should", "believe", "may", "will", "if", "anticipates", "potential
for", "potentially", "suggests" and similar expressions are intended to
identify forward-looking statements. Such statements involve risks and
uncertainties that could cause actual results to differ materially from
those projected. Such risks and uncertainties include, among others,
uncertainty of mineral reserve and resource estimates, risks relating
to fluctuations in the price of gold, the inherently hazardous nature
of mining-related activities, potential effects on Kimber's operations
of environmental regulations in the countries in which it operates,
risks due to legal proceedings, risks relating to political and
economic instability in certain countries in which it operates, risks
related to the use of inferred mineral resources in the preliminary
assessment, and uncertainty of being able to raise capital on
favourable terms or at all, as well as those risk factors discussed
under the headings "Cautionary Note Regarding Forward-Looking
Statements" and "Risk Factors" in Kimber's latest Annual Report on Form
20-F as filed on SEDAR and EDGAR. There are no assurances the Company
can fulfill such forward-looking statements and the Company undertakes
no obligation to update such statements, except as required by law.
Such forward-looking statements are only predictions; actual events or
results may differ materially as a result of risks facing the Company,
some of which are beyond the Company's control.
SOURCE Kimber Resources Inc.
