King's Bay Gold Dryden Area Gold Discovery

WINNIPEG, Manitoba, Jul 29, 2008 (PrimeNewswire via COMTEX News Network) --

King'sBay Gold Corporation (TSX.V:KBG) is pleased to report on the progressof their ongoing Phase 1 diamond drilling program at their 100% ownedSakoose Gold Mine Project located in Melgund Township near Dryden,Ontario, Canada.

Gold Zone Discovered below Old Mine Workingsin Hole #1 More Gold Identified 50 Metres East of First Hole Nine OtherHoles Now Completed

King's Bay Gold is pleased to report thatits Phase 1 drilling has so far discovered a new gold zoneapproximately forty metres below the old mine workings between 97.75 to105.75 metres and that additional zones have also been discovered fiftymetres away to the east in Hole #3. The Company also reports thatanother nine holes have now been completed and are now being sent tothe lab for assay.

Included in the table below are the results from the first three
holes:

True widths are not known. NSV = No Significant Value.
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Hole      Dip       Interval    Interval   Interval         Au
From         To        Metres         (g/T)
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  SK-01      -50        97.75       99.25       1.50           5.24
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incl                 97.75       98.00       0.25          12.98
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and                  98.00       98.50       0.50           4.24
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and                  98.50       98.75       0.25           5.44
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and                  98.75       99.25       0.50           2.29
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102.50     102.75       0.25           3.00
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104.00     105.50       1.50           9.53
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incl                 104.00     104.50       0.50          11.88
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and                  104.50     105.00       0.50           6.10
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and                  105.00     105.50       0.50          10.63
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105.50     105.75       0.25           4.00
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 SK-02      -75                                               NSV
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SK-03      -55         36.75       37.00       0.25          23.29
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37.00       37.25       0.25           1.93
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38.25       38.50       0.25           1.43
---------------------------------------------------------------------
87.50       88.50       1.00          10.01
---------------------------------------------------------------------

King'sBay is pleased with the results of the first three holes and with thefact that the new gold zone discovered in Hole #1 was intersecteddirectly below the mine workings which has now confirmed depthextension and continuation of this mine. The Company is very pleasedwith the significant alteration being encountered in the holes.

ThisSakoose Gold Mine produced gold from 1897 to 1902 until operations weresuspended when the mill burned down in 1902. It is comprised of 6claims totaling 19 claim units (approximately 760 acres). Access tothis property is excellent via a 6 km gravel road leading south fromBorups Corners on the Trans Canada Highway. The Canadian PacificRailway, a natural gas pipeline and a hydro-electric power grid allpass within approximately 6 km of the property.

John Archibald,A.P.G.O. - Geologist is the Qualified Person under National Instrument43-101. All of the samples herein were analyzed by Accurassay'slaboratory in Thunder Bay, ON. The results of Hole #1 were reported ina news release dated July 9th, 2008. Additional assay results will beannounced when received and verified.

About Kings Bay Gold

King'sBay Gold is unique in the industry in that it owns most of theequipment required to carry out the various phases of exploration. Thisincludes diamond drills, bulldozers and other exploration equipment,which gives the company the ability to quickly adjust work programs asexploration results are realized and company strategies change. TheCorporation is a very active and well financed Canadian mineralexploration company with mineral projects strategically located inCanada's gold camps. Strategic properties include - (i) a propertylocated directly adjacent to Canada's richest gold mine, (ii) two pastproducing gold mines, and (iii) other locations that are in very closeproximity to either past producers and / or recent discoveries.

KBG Shares Outstanding: 41,242,900

TheTSX Venture Exchange has not reviewed and does not acceptresponsibility for the adequacy or accuracy of this release. Some ofthe statements contained in this release are forward-lookingstatements, such as estimates and statements that describe KBG's futureplans, objectives or goals, including words to the effect that KBG ormanagement expects a stated condition or result to occur. Sinceforward-looking statements address future events and conditions, bytheir very nature, they involve inherent risks and uncertainties.

This news release was distributed by PrimeNewswire, www.primenewswire.com

SOURCE: King's Bay Gold Corporation

King'sBay Gold Corporation Richard Rivet, President & CEO (204) 253-4653info@kingsbaygold.com www.kingsbaygold.com

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