King's Bay Gold Corp. announced that it has optioned three un-patented mining claims located in the Raleigh Lake Area in the Kenora Mining District of Ontario. These claims consist of 29 un-patented units located south-west of the Town of Ignace, Ontario. The northern extension of the claim group is attached to the southernmost part of Consolidated Abaddon Resources Inc.’s southern boundary. A short while back that company released some very high grade assays for Lithium (Li) and Rubidium (Rb). These results were also obtained from some 5 Diamond Drill Holes put down in 2001 by a company called Avalon Ventures Inc. in a swarm of pegmatite dykes in its search for Tantalum (Ta). A Geo-Chem Survey is presently being carried out on some parts of the King’s Bay property in an area where bits of pegmatite fragments were observed at several locations of the project by prospecting crews from King’s Bay. Depending on the results of this survey it is likely that an Airborne Magnetic Survey could also be carried out over parts of or over the entire property.

King's Bay Gold Corp. reported un-audited earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net loss and comprehensive loss of CAD 367,007 or CAD 0.01 per basic and diluted share compared to net loss and comprehensive loss of CAD 257,747 or CAD 0.01 per basic and diluted share for the same quarter last year. Loss from operations was CAD 91,557 compared to CAD 174,193 and cash out flow from operating activities was CAD 14,119 compared to CAD 156,580 reported for the same quarter last year. For the six months, the company reported net loss and comprehensive loss of CAD 580,835 or CAD 0.01 per basic and diluted share compared to net loss and comprehensive loss of CAD 491,477 or CAD 0.01 per basic and diluted share for the same quarter last year. Loss from operations was CAD 247,732 compared to CAD 425,354 and cash out flow from operating activities was CAD 113,184 compared to CAD 357,407 reported for the same quarter last year.

King's Bay Gold Corp. provided a report on the progress of their Phase 1 diamond drilling program at their 100% owned Sakoose Gold Mine Project located in Melgund Township near Dryden, Ontario. On July 29th, 2008 the company reported that another nine holes have now been completed and are now being sent to the lab for assay. Subsequent to the core from these nine holes were logged but were spilled as a result of an accident. As it was impossible to put the core back into the core boxes in the correct order, it was decided that these samples would not be sent to the lab for assay. To do so, would lead to misleading results. Going forward, the company plans to review all of the results that it currently has on hand, assess their value and from that point on it will make a decision on whether or not to carry on with the project or drop it. Should the company decide to carry on, it will most likely carry out further drilling in the vicinity of where the nine holes that were lost had been drilled.