Mr. Robert Dzisiak reports

KING GLOBAL ANNOUNCES CLOSING OF FIRST TRANCHE OF UNIT FINANCING

King Global Ventures Inc. has closed the first tranche of its previously disclosed non-brokered private placement. The company issued 4,401,142 units at 60 cents per unit for a total of $2,640,686.80; $87,499.80 of the total represented a non-arm's-length debt settlement by the company of debt incurred for directors' fees. Pursuant to the terms of the offering, each unit is composed of one common share and one two-year common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share at a price of 90 cents per common share for a period of two years following the closing date of the offering. Securities issued on this closing are subject to a four-month and one day hold period in accordance with the policies of the Canadian Securities Exchange and applicable securities legislation.

The issuance of 2,648,332 units, in aggregate, to certain insiders of the company constitutes a "related party transaction" as such term is defined in Multilateral Instrument 61-101. Pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, the company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements, respectively, as neither the fair market value of the units nor the consideration for such units, insofar as it involves the insiders, exceeds 25 per cent of the company's market capitalization. The company intends to use the net proceeds of the private placement to continue exploration and drilling on its Silver Cord and Black Canyon projects.

The private placement is subject to certain conditions, but not limited to, the receipt of all necessary approvals, including approval from the Canadian Securities Exchange.

About King Global Ventures Inc.

King Global Ventures is focused on the exploration of precious and base metals in North America. The Black Canyon project in Yavapai county, Arizona, is composed of 213 contiguous concessions covering a total area of 3,800 acres, including 15 former operating mines including the past producing Howard copper mine. The Howard copper mine property is located on 78 acres of patented land approximately 64 miles north of Phoenix. Discovered in the early 1920s, small-scale production and development focused on high-grade copper.

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