Mr. Peter Hooper reports

KILO RAISES A FURTHER $4.7 MILLION UNDER BROKERED PRIVATE PLACEMENT

Kilo Goldmines Ltd. has raised gross proceeds of an additional $4,748,000 under its brokered private placement with M Partners Inc. of Toronto and Vicarage Capital Ltd. of London. Due to market demand, the agency agreement between the parties was amended to increase the maximum offering size from $5-million to $10-million. Following the amendment, Kilo issued and sold an additional 23.74 million units of the company at a price of 20 cents per unit, with each unit comprising one common share in the capital of Kilo and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share in the capital of Kilo at an exercise price of 30 cents per share until Nov. 5, 2012.

The company paid cash commissions of $295,050 and issued 1,475,250 compensation options in connection with the additional placement. Each compensation option is exercisable to acquire one unit at an exercise price of 20 cents until Nov. 5, 2012.

All securities issued in connection with the private placement are subject to a four-month hold period, expiring March 6, 2011, under applicable Canadian securities legislation. The private placement remains subject to final approval of the TSX Venture Exchange.

Net proceeds of the offering will be used to finance further exploration of the company's projects located in the Democratic Republic of Congo, and for working capital and general corporate purposes.