Kokomo Enterprises Inc. announced that it has entered into a binding letter of intent with an arms length party to acquire a 75% right, title and interest in the surface rights of the Zaniza Iron Ore Property which covers an area of approximately 153 square kilometers and is located in the Municipality of Sola De Vega in the State of Oaxaca in Mexico. The parties to the LOI have agreed to enter into a Definitive Agreement which will be subject to the approvals of the CNSX, the Board of Directors of Kokomo, and if required by the CNSX, the approval of the shareholders of the company. The consideration payable by the company to the arms length party shall be a cash payment of $100,000 upon the execution of the Definitive Agreement, and the issuance of a Convertible Debenture for the amount of $900,000, which will have a maturity of 4 years, shall bear simple interest at an annual rate of 5%, and may be converted into Kokomo shares at the price of $0.10 per Kokomo share in year one, at the price of $0.25 per Kokomo share in year two, at the price of $0.50 per Kokomo share in year three and, at the price of $1.00 per Kokomo share in year four.

Kokomo Enterprises Inc. announced the appointment of Mr. Fred A.C. Tejada, P. Geo. as a director of the company effective December 18, 2009. Since July 2007 Mr. Tejada has been Vice President of Exploration of Panoro Minerals Ltd. where he successfully directed the definition drilling of one of its flagship projects, the Antilla copper-molybdenum project in Peru that led to a NI 43-101 compliant inferred resource.

Kokomo Enterprises Inc. reported that Mr. James Wayne Murton has resigned from his position as a director of the company. The company thanks Mr. Murton for his past services and wishes him the best for the future.