Kensington Resources Ltd. (V.KRT) * Diamond in the rough! Message Board

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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough!

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To: Francoise Kartha who wrote ()	3/8/2000 5:52:00 PM
From: Scott Reynolds	of 5206

Wednesday, March 08, 2000 $ 1.7 MILLION PRIVATE PLACEMENT Kensington Resources Ltd. (the ?Company?) reports that it has arranged for a non-brokered private placement of 6,300,000 Special Warrants at a price of $0.27 per Special Warrant for gross proceeds of $1.7 million. Each Special Warrant is convertible for no additional consideration into one unit of the Company comprised of one common share and one non-transferable share purchase warrant. Each share purchase warrant shall entitle the holder thereof to purchase one additional common share in the capital of the Company at a price of $0.37 for a period of one year from closing. The proceeds of the private placement will be used to fund drilling programs at the Fort a la Corne Diamond Project in Saskatchewan as well as for general working capital. Finder?s fees shall be payable at the maximum allowable under Canadian Venture Exchange policies. Details of the finder?s fees will be announced at a later date. The Company intends to file an Annual Information Form ("AIF") with the B.C. Securities Commission. Upon the filing of the Company?s AIF, any securities issued pursuant to this private placement or upon exercise of the share purchase warrants shall be subject to a hold period expiring four months from closing. The Fort a la Corne Diamond Project is a joint venture among Monopros Limited, a wholly owned subsidiary of DeBeers (DBRSY-Q) (38%), Cameco Corporation (CCO-TM;CCJ-DNQX;CMECF-L) (14%), UEM Inc. (10%) and Kensington Resources Ltd. (KRT-CDNX;KNSRF-L) (38%). The Fort a la Corne kimberlite cluster is one of the largest clusters in the world containing 71 kimberlite bodies. Details of the upcoming exploration programs will be announced shortly. The foregoing private placement will not result in a change of control and is subject to regulatory approval. ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD. (signed) ?David H. Stone? David H. Stone President TRADING SYMBOL: KRT-CDNX ¸ Kensington Resources Ltd. All Rights Reserved.

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