King's Bay finishes Menary drilling, awaits assays

2011-11-23 08:51 ET - News Release

Mr. Kyle Picard reports

KING'S BAY GOLD EXPLORATION UPDATE AT THE MENARY PROJECT IN THE KENORA MINING DIVISION OF ONTARIO

King's Bay Gold Corp. has now completed its 2011 drill program for a total of 17 BQ holes at its Menary project located in the Kenora mining division of Northwestern Ontario. In 2010 and 2011, a total of 29 BQ holes were completed at the Wagg Occurrence, 3 additional BQ holes were drilled at the Galbraith "A" Occurrence and one additional BQ hole was drilled at the southern end of the property close to Road 404 to test a sulfide zone for mineralization.

At the Galbraith "A" Occurrence, an approximately 200 metre-long gold-bearing system was uncovered. It is comprised of a strongly boudinaged and sugary-textured quartz vein of up to 1 metre in width with intermittent red hematite staining in a shear / fault zone. This sugary quartz and red coloration mimics that at the Wagg Occurrence located approximately 1 kilometer south of the Galbraith "A" Occurrence. Grab samples from this zone have assayed up to 40.5 g/t gold (see the news release dated October 26th, 2011). Additional work between the Galbraith "A" and the Wagg Occurrences is needed to confirm if these gold-bearing systems are continuous.