Kimber Resources Inc. (AMEX:KBX, TSX:KBR) VANCOUVER, March 2 /PRNewswire-FirstCall/ -- Kimber Resources Inc. ("the Company") is pleased to report that the previously announced private placement has been closed. The transaction consisted of brokered and non-brokered private placements of a total of 7,047,500 common shares at a price of C$2.00 for gross proceeds of C$14,095,000. The brokered private placement was carried out by Puplava Securities Inc. ("PSI") of San Diego, California with Ms. Leanne Baker, Managing Director of Investor Resources LLC, acting as a consultant to identify potential investors in the United States. The Company paid cash commissions of 5.5% on the brokered placements. The non-brokered private placement was to institutional and accredited investors in Canada and offshore. Blackmont Capital Inc., Canaccord Capital Corp., and PSI will receive finder's fees of 5.5% of the proceeds raised on certain placements. The total commissions and finder's fees paid on the both brokered and non-brokered placements amount to C$428,725. No warrants are being issued to investors or the agents in connection with the offering. Mr. James Puplava, a Director and major shareholder of the Company, and a principal of PSI, did not acquire shares through the placement. The shares are subject to a hold period under applicable Canadian securities laws and the policies of the Toronto Stock Exchange (TSX). This hold period expires at midnight on July 1, 2006. Additional resale restrictions apply to shares issued to U.S. investors. The private placement is subject to final acceptance by the TSX. The net proceeds of the private placements will be used to continue exploration and development drilling on the Carotare deposit and El Orito Norte exploration target, to complete the drilling and the pre-feasibility study on the Carmen deposit, as well as for general corporate purposes. About Kimber Kimber Resources Inc., which holds a 100% interest in the Monterde property in the Sierra Madre of northern Mexico, is advancing the Carmen gold-silver deposit towards production. The Carmen deposit, an underground mine in the 1930's, is a typical low sulphidation epithermal system, oxidized, and believed to be suitable for open pit mining. A pre-feasibility study is expected on the Carmen deposit in April 2006. Two adjacent epithermal systems first identified in 2005, the Carotare deposit and El Orito Norte exploration target appear to be similar to the Carmen. The initial resource estimate on Carotare was reported in November 2005. The goal of the company is to demonstrate at least three million resource ounces from the two deposits and exploration target identified. For further information on the company visit SEDAR or the company website at http://www.kimberresources.com/. Cautionary Statement Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfil such forward-looking statements and the Company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control. FOR FURTHER INFORMATION PLEASE CONTACT: Darren Klinck Manager, Corporate Communications or Robert Longe P.Eng President and CEO North America Toll Free: 1-866-824-1100 Tel: (604) 669-2251 Fax: (604) 669-8577 Website: http://www.kimberresources.com/ Email: DATASOURCE: Kimber Resources Inc. CONTACT: Darren Klinck, Manager, Corporate Communications or Robert Longe P.Eng, President and CEO, North America Toll Free: 1-866-824-1100, Tel: (604) 669-2251, Fax: (604) 669-8577, Website: http://www.kimberresources.com/, Email:

Copyright