Uranium Interest Purchase
Kakanda Purchases Hinterland’s Otish Basin Uranium Interest
VANCOUVER, Canada, November 13, 2007, – Kakanda Development Corp. (Kakanda) (TSXV: KRC) is pleased to announce that it has agreed to purchase Hinterland Metals Inc.’s 50% joint venture interest in the 41-claim Tonka and 112-claim Euro uranium properties for 500,000 treasury shares of Kakanda subject to regulatory approval.
Following completion of this transaction and the recent “Gateau Property” acquisition, Kakanda will hold a 100% interest in 487 claims (approximately 26,000 hectares) in the Otish Basin Area of Quebec.
Kakanda’s mineral claims in the Otish Basin hold potential to host fault-controlled uranium mineralization similar to that discovered at the nearby Matoush Project and also offer potential for classic unconformity-type uranium mineralization similar to the deposits currently mined in Saskatchewan’s Athabasca Basin.
On Behalf of the Board,
Kakanda Resources Corp.
Steve Smith,
President
Kakanda Closes Ontco
Kakanda Closes Ontco Acquisition and Non-Brokered Private Placement
VANCOUVER (November 06, 2007) – Kakanda Resources Corp. (“Kakanda”) (TSXV: KRC) is pleased to announce that it has closed the acquisition of 1735046 Ontario Inc. (Ontco) as reported in Stockwatch news July 4, 2007. Ontco is the owner of 334 mineral claims (approximately 17,872 hectares) in the Otish basin of Quebec.
Kakanda is also pleased to announce that it has closed the financing of 4,000,000 flow-through common shares to raise total gross proceeds of $1-million at a price of 30 cents per flow-through share and has closed the financing of 6,666,667 units (that are not flow-through common shares) at a price of 30 cents per unit to raise total gross proceeds of $2 million Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder thereof to purchase one common share of Kakanda at a price of 40 cents per share for a period of 24 months following the closing date of the financing. All of the securities issued in the financing will have a hold period expiring four months and one day from the closing date.
Kakanda plans to explore the Oncto properties for unconformity-type uranium deposits both above and below the basin surface as well as for Matoush fault-type uranium deposits well above the basin rim. The first phase of exploration will include a high-definition magnetic and radiometric airborne survey over the entire property in order to generate prospecting targets.
On Behalf of the Board,
Kakanda Resources Corp.
Steve Smith,
President
