2009-12-10 15:53 ET - News Release

Mr. Brian Edelstein reports

STONE ASSET MANAGEMENT MAKES EARLY WARNING REPORT

King's Bay Gold Corp. has released an early warning report about Stone Asset Management Ltd.'s acquisition of shares. Stone Asset Management Ltd., on behalf of funds managed by it, now has direction over 10,017,000 shares (or 17.27 per cent of the outstanding shares calculated on a fully diluted basis) of King's Bay Gold Corp.

The acquisition of these securities by Stone Asset Management Ltd., on behalf of the funds it manages, was made in the ordinary course of business for investment purposes and was not for the purposes of influencing the control or direction of King's Bay Gold Corp.