Orvana Extends its Offer to Acquire Kinbauri Gold Corp. to July 13, 2009

TORONTO, ONTARIO, Jun 30 (MARKET WIRE) --
Orvana Minerals Corp. (TSX: ORV) today announced that it has extended its
all-cash offer of C$0.55 per share for all outstanding common shares of
Kinbauri Gold Corp. (TSX VENTURE: KNB).

The bid is now set to expire at 9 am EDT on July 13, 2009. All other
terms of the offer described in the take-over circular dated May 25, 2009
remain unchanged.

"We continue to believe that our offer for Kinbauri represents full and
fair value, providing a significant premium and full liquidity to
Kinbauri shareholders who would otherwise face an uncertain and risky
future," said Kent Jespersen, Chairman of Orvana. "In light of the
uncertainty surrounding Kinbauri's legal position, we feel today's
extension is both practical and prudent."

Orvana will mail to Kinbauri's security holders and file on SEDAR a
notice of extension of the offer. Kinbauri shareholders who have
questions regarding the offer should contact Kingsdale Shareholder
Services Inc., the information agent in connection with the offer, at
1-800-749-9052 (toll-free) or 416-867-2272 (outside North America).

Orvana is a well-established mine operator with an experienced management
team that has collectively brought a number of underground mines into
production. Orvana had cash of approximately US $96.2 million (C$110.6
million) as at March 31, 2009, which is sufficient to complete the
acquisition of Kinbauri and develop Kinbauri's Spanish mineral project.
Orvana expects the project will create up to 200 new jobs in Spain.

Forward-looking disclaimer

This press release contains only summary information about Orvana's offer
and does not constitute an offer to purchase any securities. Complete
information about the offer will be available by referring to the offer
to purchase and take-over bid circular to be filed with Canadian
securities regulators. Certain statements contained in this press release
concerning Orvana's objectives, goals, strategies, intentions, plans,
beliefs, expectations and estimates, and the business, operations,
financial performance and condition of Kinbauri are forward-looking
statements. The words "believe", "expect", "intend", "may", "anticipate",
"will", "would" and similar expressions and the negative of such
expressions are intended to identify forward-looking statements, although
not all forward-looking statements contain these identifying words. These
forward-looking statements are not based on historical facts, but rather
on current expectations, assumptions and projections about future events.
While Orvana considers these factors and assumptions to be reasonable
based on information currently available, they may be proven to be
incorrect. Known and unknown factors could cause actual results to differ
materially from those projected in the forward-looking statements. Such
factors include, but are not limited to, the offer not being commenced;
any of the terms and conditions of the offer not being satisfied; general
economic conditions; dependence on key personnel; and variations in
required capital expenditures. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking statements.

Contacts:
Media:
Longview Communications
Louise Kozier
(604) 694-6033

Longview Communications
Alan Bayless
(604) 694-6035

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