Kent Exploration Inc announced that it has acquired 100% of the Ivanhoe Creek Property by entering into a 20 year mining lease option agreement with R Redfern of Elko.

The terms of the agreement provide for Kent to pay the current BLM maintenance fees and pay USD 1000 at the end of the first year of the agreement, increasing by USD 1000 each year for the first 5 years of the agreement and at USD 5000 per year thereafter for the balance of the term of the agreement. There are no work commitments provided for under the agreement.

Ivanhoe Creek Property is a Midas type gold silver prospect located in the Carlin trend in the Northern Nevada Rift area of Nevada, in close proximity to Great Basin Gold's Hollister Development Block, where Great Basin has reportedly commenced production at a rate of approximately 120,000 ounces per year of gold equivalent at a projected life of mine cost of USD 426 per ounce.

The property was formerly held by Senator Minerals Inc under a Mining Lease Option Agreement, which the company had earned a 50% interest in. Senator chose to drop its interest in the property due to financial considerations.

Mr Donald A Simon, one of the founding directors of the company, has submitted his resignation as a director due to work conflicts. The company thanks Mr Simon for his contribution to the development of Kent since its inception.