Moto Goldmines Acquires Shares of Kilo Goldmines

PERTH, WESTERN AUSTRALIA, Mar 24 (MARKET WIRE) --
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH ANY US NEWSWIRE
SERVICE

Moto Goldmines Limited ("Moto") (TSX: MGL)(AIM: MOE) is issuing this news
release pursuant to the early warning reporting provisions of securities
legislation in the Provinces of British Columbia, Alberta and Ontario in
respect of Kilo Goldmines Ltd. (the "Issuer") (TSX VENTURE: BRQ.P).

In the course of the Qualifying Transaction (as defined in Policy 2.4 of
the TSX Venture Exchange) between the Issuer (previously Blue Ribbon
Capital Corporation) and Kilo Goldmines Inc. (the "Transaction"), Moto
acquired ownership of and control over 7,853,353 common shares of the
Issuer in exchange for shares held in Kilo Goldmines Inc. Pursuant to the
Transaction, Moto acquired ownership of and control over approximately
20% of the 39,266,766 common shares of the Issuer that are currently
issued and outstanding, on a non-diluted basis, based on information
received from the Issuer. Moto also acquired ownership of and control
over 1,297,400 warrants to purchase common shares of the Issuer,
representing approximately 20% of the issued and outstanding warrants of
the same class of the Issuer, based on information received from the
Issuer. Each warrant entitles the holder to acquire one common share of
the Issuer at a price of $0.60 per common share for a period of two years
from grant. If Moto exercised all of the warrants held by it, it would
own approximately 22.6% of the common shares of the Issuer then issued
and outstanding, on a non-diluted basis, calculated by adding the
1,297,400 common shares that would then be issued to Moto to the
7,853,353 common shares already held by Moto and dividing that number by
the 39,266,766 common shares of the Issuer that are currently issued and
outstanding plus the 1,297,400 common shares that would then be issued to
Moto.

The issue of common shares of the Issuer, to Moto, is the result of an
agreement entered into in November 2006 to transfer Moto's rights and
obligations to several mineral projects in the north-east of the
Democratic Republic of Congo to Kilo Goldmines Inc. Pursuant to this
agreement Moto would receive common shares upon Kilo Goldmines Inc.
completing a "going public transaction" on the TSX Venture Exchange, in
order to maintain a prescribed ownership interest at the time of the
transaction. This agreement was revised to include warrants upon the
Issuer determining to include the issuance of warrants in the going
public transaction. For further information on Kilo Goldmines Ltd. please
visit their website at www.kilogold.net.

Moto acquired the shares and warrants for investment purposes. Moto has
no current intention to acquire additional common shares of the Issuer,
but may do so depending upon market circumstances.

A copy of the early warning report filed in connection with this
transaction is available under the Issuer's profile and under Moto's
profile on SEDAR at www.sedar.com.

ARBN 113 274 874

The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of this news
release.

Contacts:
Moto Goldmines Limited
Andrew Dinning
President and Chief Operating Officer
+61 8 9273 4222
adinning@motogoldmines.com

Moto Goldmines Limited
Mark Arnesen
Financial Director and Chief Financial Officer
+61 8 9273 4222
marnesen@motogoldmines.com
www.motogoldmines.com

Nominated advisor for the purposes of AIM:
RFC Corporate Finance Ltd
Steve Allen
+61 8 9480 2508
Steve.Allen@rfc.com.au

AIM Broker
GMP Securities Europe LLP
James Hannon
+44 207 647 2803
james.hannon@gmpeurope.com

Copyright 2009, Market Wire, All rights reserved.

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