Kibush Capital Announces Purchase of Angel Jade

In the news release, Kibush Capital Completes Acquisition Of Microlender, 9-Oct-2014 issued earlier today by Kibush Capital Corporation over PR Newswire, we are advised by the company that it was sent in error. The correct release about the purchase of Angel Jade follows:

Kibush Capital Announces Purchase of Angel Jade

MELBOURNE, Australia, Oct. 9, 2014 /PRNewswire/ -- Kibush Capital Corporation (OTC: DLCR) announces the purchase of 51% of the ordinary shares of Angel Jade Pty Ltd, an Australian company.  The structure of the transaction allows for options to purchase additional equity in the project going forward. The assets of Angel Jade are comprised of Exploration License 8104, the area covered is 35 km SE of Tamworth, 300 sq km in size, 250 km from the port of Newcastle, NSW and accessible by sealed road.  The resource is predominantly jade.  This nephrite jade occurs in the New England Fold Belt, which extends from northeast New South Wales into southeast Queensland. Within the boundaries of the EL there is also a large unmeasured, but potentially valuable rhodonite resource within the tenement.

MINNELEX PTY. LTD, geological consulting services and valuations, an independent geology company based in Queensland, prepared a valuation report in April 2013 on Angel Jade's EL 8104 Nephrite Project.  The preferred value of the project at that date was assessed at $80M AUD.  That is conservatively based on a resource of 150,000 tonnes.  The Project has 25 tonnes currently mined, shipment ready and a further 20 tonnes exposed at the rock face.  It is Kibush's intention to cut, process and grade the 45 tonnes during the December and March quarters and ship to the relevant markets in China, Korea and Singapore for sale.  Further development of the area is anticipated to yield a resource in excess of 1M tonnes.  That development can be undertaken in conjunction with processing of currently identified seams.

Angel Jade has identified a three tiered exploitation of the jade resource.  The first tier consists of finely ground lower quality jade to nano particle sized powder enabling the jade to release infrared radiation.  These particles can be added to paint, ceramic tiles and added to cotton for use in fabrics.  The second tier consists of exclusive works of art created by the renowned artist Xie Shen.  These carved pieces will weigh between 0.5 and 2 tonnes each, to be showcased at major Asian art galleries. The third tier is to establish a premium high end jade brand for jewelry and art, to be sold and marketed through respected gallery and jewelry outlets.

About Kibush Capital Corporation:

Kibush Capital identifies companies with proven products that can be sold immediately to produce revenue.  It is looking for opportunities that can be scaled up quickly and Kibush Capital will provide the management and financial expertise to move its acquisition to another level.

Contact: 
Paul Knopick
E & E Communications
[email protected]
940-262-3584

SOURCE Kibush Capital Corporation