King's Bay Gold Corporation (TSXV:KBG) intends to use the proceeds of the $0.94 million of Private Placement for the $0.1 million G &A, $0.09 million salaries, $0.1 million corporate development, $0.05 million legal, accounting and regulatory fees, property acquisition costs $0.1 million, travel and promotion $0.06 million unallocated working capital $0.1 million, and exploration expenditures of $0.5 million.