TORONTO, ONTARIO--(Marketwire - March 21, 2012) - Kilo Goldmines Ltd. (TSX VENTURE:KGL)(FRANKFURT:02K) ("Kilo" or the "Company") announced today that it has granted options to acquire an aggregate of 1,250,000 common shares to a director, an officer and a consultant of the Company under its stock option plan. Each option is exercisable to acquire one common share at a price of $0.22 for a three-year period with 1/3 vesting immediately, 1/3 in one year and 1/3 in 2 years from the granting date. The options granted are subject to regulatory approval.
Kilo also announced that, as disclosed in its press release dated February 3, 2012, the Company has issued 1,405,777 common shares in connection with the registration of the exploitation licences comprising its Somituri Property. All shares issued are subject to a four-month hold period.
Kilo Goldmines Ltd. is a Canadian gold exploration company operating in the Democratic Republic of Congo (DRC). The Company has over 7,000 square km of favourable Archaean Kabalian greenstone in the Kilo-Moto area in north-eastern DRC. Kilo has announced an inferred resource on the Adumbi Deposit of the Somituri Project of which the Company owns a 71.25% interest in the DRC entity that holds the Somituri Project Exploitation Permits.
The Company is also working on a number of other prospective areas which contain historical workings in the same region. It also has a joint venture with Rio Tinto Ltd. on potential iron ore licences in north-eastern DRC.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.