Kilo Goldmines Announces Pricing for Previously Announced Offering

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TORONTO, ONTARIO--(Marketwire - March 11, 2013) - Kilo Goldmines Ltd. (the "Company") (TSX VENTURE:KGL) (FRANKFURT:02K) announced today that it has agreed upon the pricing of its previously announced short form prospectus offering (the "Offering") with the agents for the Offering. Units consisting of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant") will be offered under the prospectus at a price of C$0.10 per Unit to raise gross proceeds of a minimum of C$10,000,000 through the issuance of a minimum of 100,000,000 Units. Each Warrant entitles the holder to purchase one Common Share for C$0.15 for a period of 36 months following the closing date of the Offering.

As previously announced, the Offering is being conducted by a syndicate of agents co-led by GMP Securities L.P. and Clarus Securities Inc. and including Byron Capital Markets Ltd. (collectively, the "Agents"), whereby the Agents have been engaged to act as agents to sell the Units on a best efforts basis.

The Offering is expected to close on or about March 20, 2013.

The Company expects to use the net proceeds from the offering to fund further exploration of the Company's Somituri gold property in the Democratic Republic of Congo and for working capital and general corporate purposes.

Closing of the offering is subject to certain conditions, including but not limited to, receipt of all necessary securities regulatory approvals, including the approval of the TSX Venture Exchange.

The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus is available electronically on the Company's profile at www.sedar.com. There will not be any sale of or any acceptance of an offer to buy the securities until a receipt for the (final) short form prospectus has been issued.

This press release does not constitute an offer of the securities described herein in any jurisdiction. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold in the United States absent an exemption from registration.


DISCLAIMER

This news release may contain forward looking statements concerning future operations of Kilo Goldmines Ltd. All forward looking statements concerning Kilo's future plans and operations, including management's assessment Kilo's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond Kilo's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.

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.



Contact

Kilo Goldmines Ltd.
Alex van Hoeken
Chief Executive Officer & President
+1 416 360 3406
info@kilogoldmines.com
www.kilogoldmines.com