03:48 PM EST - Kinbauri Gold Corp. : announced that its Board has unanimously recommended that Kinbauri shareholders reject the unsolicited offer to purchase all of the outstanding Kinbauri shares made by Orvana Minerals Corporation and that shareholders not tender their Kinbauri shares to the Orvana offer. Kinbauri said that the Orvana offer significantly undervalues Kinbauri's advanced stage El Valle Project, and its growth potential. The EL Valle Project is expected to begin production in 2010 with an anticipated annual output of approximately 145,000 of gold equivalent ounces. The Orvana offer is conditional and not a firm offer. Kinbauri Gold Corp.
shares V.KNB are trading down $0.02 at $0.59.
