KNB Kinbauri Gold Corp Com Npv

Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE: KNB) (FRANKFURT: 3KG.DE) is pleased to announce that Ore Reserves Engineering ("ORE") has provided new resource estimates at El Valle in northwestern Spain for three zones: (1) two zones, Area 208 and East 107 had previously not been appraised in any previous technical report and (2) one zone, the East Breccia zone ("EB"), where new drill intercepts extended the zone, leading to an increase in inferred resources for EB (previous reported inferred gold resource for EB was 73,000 ounces) .

Total inferred resources in the three zones are 226,519 ounces gold and 7.4M pounds copper (1.1Mt @ 6.6g/t Au/t and 0.31% Cu); this is an increase of 153,519 ounces of gold over that previously reported by ORE in its most recent N.I. 43-101 technical report and recent amendment (see press releases of November 20th, 2008 and January 19th, 2009).

The table below gives the detailed estimated inferred resources (1) for East 107, Area 208 and East Breccia as of January 20th, 2008.

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                                 Gold  Copper
                                Grade   Grade      Gold    Copper
Zone                  Tonnes  (g Au/t)  (% Cu)  (ounces)  (tonnes)
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East 107              93,944     5.64    0.12    17,024       111
Area 208             361,786     6.10    0.11    71,001       441
East Breccia         617,175     6.98    0.46   138,494     2,819
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Total East Zones   1,072,905     6.57    0.31   226,519     3,371
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(1): These resources are based on a cut-off of 3.5g Au Eq/t. Eq
     Au equals ppm Au plus 1.66 times percent Cu.
(2): Resources were estimated using inverse distance power
     methods within geologically defined three dimensional
     wire-framed solids.

This update incorporates drilling by Rio Narcea Gold Mines S.L. ("RNGM") that was completed after RNGM's earlier resource estimates. New models were employed that incorporate current geological understanding of these zones; and newer, advanced estimation methods were utilized to better define mineralization. ORE is continuing to update resources for several smaller zones that were outside of the Kinbauri drilling programs completed in 2007 and 2008.

Dr. Vern Rampton, President and CEO said "Updated modeling and resource calculations continue to show that broadly spread mineralization is present throughout the El Valle property and that it has excellent potential for more gold and copper discoveries. Increases of 54,270 ounces in the indicated category within the El Valle Fault zone and 170,349 ounces of gold in the inferred category in the El Valle Fault, East 107, Area 208 and East Breccia zones are new resources not previously documented in ORE's November 2008 report. Clearly, El Valle has enormous potential for further increases in its gold and copper resources. These will be verified by Kinbauri in future drilling programs."

The estimated resources for El Valle/Carles resources as of January 20th, 2009 are as follows:

- Measured and Indicated: 970,000 Ounces Gold and 114 million pounds Copper (6.4Mt at 4.7g Au/t and 0.8% Cu)

- Inferred: 1,2667,344 Ounces Gold and 76.1 million pounds Copper (7.5Mt @ 5.4g Au/t and 0.47% CU)

This press release has been prepared by Dr. V. N. Rampton, P. Eng. in his capacity as a qualified person. Dr. Rampton previously recorded a "Beyond the Press Release" webcast concerning new resource delineation at El Valle and how these affect development at the El Valle/Carles project on Kinbauri's Investor Relations site at http://www.agoracom.com/IR/kinbauri on January 19th, 2009. Dr. Rampton will be hosting Kinbauri's booth at the Vancouver Cambridge Gold Show on January 25th and 26th.

About Kinbauri:

Kinbauri is a TSXV - Tier 1 Mineral Exploration Company focused on the development of mineral properties, primarily precious metal prospects in northwestern Spain, Nevada and Canada. Its immediate focus is to expand and upgrade resources to reserves at the El Valle property in Asturias, Spain in order to start operations at the mine and existing mill complex there in 2011. It currently has 48,852,695 common shares issued and outstanding.

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.

VISIT:

Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri where investors can post questions and receive answers or review questions and answers already posted by other investors. Kinbauri Web-Site: www.kinbauri-gold.com

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.

Contacts: Kinbauri Gold Corp. North America - Darrell Munro, BB.A, LL.B Manager, Corporate Communications 613-836-0198 dmunro@kinbauri-gold.com Dr. Vern Rampton, P. Eng. President 613-836-2594 613-831-2730 (FAX) vrampton@kinbauri-gold.com kinbauri@kinbauri-gold.com Dr. C. F. Gleeson, P. Eng. Vice-President Exploration 613-652-4594 c.gleeson@persona.ca Europe INVESTEL Ruediger (Rudy) Hnyk, CEO Investor Relations & Telecommunications ceo@investel.de