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Blue Ribbon Capital Corp. announces details of qualifying transaction with Kilo Goldmines Inc.

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TORONTO, Aug. 27 /CNW Telbec/ – Further to its preliminary news release
of September 27, 2007 and a subsequent press release issued on May 12, 2008,
BLUE RIBBON CAPITAL CORP. (TSX-V: BRQ.P – "Blue Ribbon"), a capital pool
company, is pleased to announce that it has entered into an arm's length
binding letter agreement (the "Agreement") with Kilo Goldmines Inc. ("Kilo"),
originally dated September 27, 2007, as amended on April 12, 2008, pursuant to
which it has agreed to acquire, directly or indirectly, all of the issued and
outstanding shares of Kilo Goldmines Inc. (the "Kilo Shares"). The acquisition
of Kilo will be Blue Ribbon's qualifying transaction (the "Qualifying
Transaction") pursuant to the rules and policies of the TSX Venture Exchange
(the "Exchange") and will result in the listing of Blue Ribbon as a Tier 2
Resource Issuer.

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