Kensington Resources Ltd.: Joint Venture Management Team Restructured to Facilitate Advancing the Fort a La Corne Project.VICTORIA, British Columbia -- Kensington Resources Ltd. (the "Company") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:KRT KRT Knight Ridder/Tribune KRT Keratin KRT Knights of the Round Table (Diablo gaming guild) KRT Khartoum, Sudan - Civil (Airport Code) KRT Kleene's Recursion Theorem ) announces that the Joint Venture management team has been restructured and will focus on identifying new goals and reviewing the strategy for advancing the Fort a la Corne Diamond Project in Saskatchewan. De Beers, as the operator, has welcomed the request from Kensington to become more involved in the planning process. The first meeting of the restructured team is scheduled for October 2004 and Kensington will be sending three representatives to contribute to a proposal which will be presented to the De Beers board in early 2005. Richard Molyneux, the President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of De Beers Canada Corporation, stated, "This restructuring is indicative of the co-operative relationship between the partners and demonstrates our joint commitment to progressing the Fort a la Corne Project as efficiently as possible." Robert A. McCallum, President of Kensington, stated, "The team will be examining ways to accelerate a development decision on the Fort a la Corne Project and we are pleased to be able to contribute our experience and knowledge to the project to reach this goal." The Company's representatives on this team will be Robert McCallum, P.Eng., Brent C. Jellicoe, P.Geo., and Raj Anand, P.Eng. Mr. Anand, the principal of RKA RKA Ranged Killing Attack (gaming) RKA Relativistic Klystron Amplifier RKA Riverdale Kingsbridge Academy (Bronx, New York) RKA Rekey Agent RKA Rossiskaja Kosmitska Agentura Engineering Consultants Inc., has a Master's degree in Civil Engineering from the University of Alberta and over 25 years' experience in mine permitting, design planning and construction. Using the expertise of proven management and world-class, experienced technical advisors, Kensington Resources Ltd. is actively involved in confirming the economic potential of this deposit and moving the project forward to a development decision as rapidly as possible. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.25%), De Beers Canada Exploration Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of De Beers (42.25%), Cameco Corporation (5.5%) and UEM UEM Universidade Estadual de Maringa (State University of Maringa, Brazil) UEM Universidade Eduardo Mondlane (Maputo, Mozambique) UEM Unione Economica e Monetaria Inc. (carried 10%). The 71+ kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world. ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD. Robert A. McCallum, President TRADING SYMBOL: KRT-TSX.V FORM 20-F FILE #0-24980 LISTED IN STANDARD & POOR'S The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
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