Mr. Ranjan Tandon reports

LIBRA FUND II (LUXEMBOURG) S.A A R.L. ACQUIRES COMMON SHARES OF KILO GOLDMINES LTD. FOR INVESTMENT PURPOSES

Libra Advisors, LLC's Libra Fund II (Luxembourg) S.A r.l. has acquired a total of 10 million common shares at a price of 20 cents per common share of Kilo Goldmines Ltd., representing 4.6 per cent of the total common shares of Kilo, pursuant to a private placement.

As a result of this acquisition and together with securities previously held by the fund, the fund now owns 26.86 million common shares, representing approximately 12.4 per cent of the total outstanding common shares of Kilo and 10 million warrants of Kilo that, if exercised, together represent approximately 16.3 per cent of the total outstanding common shares of Kilo.

The fund acquired the common shares for investment purposes and may, from time to time, acquire additional securities of Kilo or dispose of such securities as it may deem appropriate.

Libra is the investment adviser to the fund and maintains its principal office at 777 Third Ave., 27th Floor, New York, N.Y., 10017.