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KAT Exploration, Inc. Distributes 1 to 4 OTCBB Shares of BVIG.OB and Provides Update on Handcamp Drill Project for NI 43-101 Pr

^{Published on 2010-06-08 07:10:14 - Market Wire}
 

MOUNT PEARL, NL--(Marketwire - June 8, 2010) - KAT Exploration, Inc. (PINKSHEETS: [ KATX ]) [ www.katexploration.com ]

KAT Exploration, Inc. (PINKSHEETS: [ KATX ]) will distribute to its shareholders restricted shares of Bella Viaggio, Inc. (OTCBB: [ BVIG ]) which trades on the Over the Counter Bulletin Board (OTCBB). BVIG.OB was purchased for $305,000 in cash paid in full. KAT Exploration shareholders will receive 1 restricted share of (OTCBB: [ BVIG ]) for every 4 shares of (PINKSHEETS: [ KATX ]) owned up through the record date to be decided by its board of directors to be executed as early as possible. KAT Exploration shareholders will be unaffected while having restricted shares of BVIG.OB distributed as additional equity.

KAT Exploration has retained a Securities Law Firm that has facilitated and completed the administrative process to submit to FINRA for a name, ticker, and CUSIP number change for (OTCBB: [ BVIG ]).

KAT Exploration has retained an Auditing Firm that has completed the required audit of the Handcamp property that was placed into (OTCBB: [ BVIG ]). KAT Exploration will manage and oversee the operations of the (OTCBB: [ BVIG ]) Handcamp drilling program. KAT Exploration believes that because of the expected valuation that will come from its Handcamp and other high grade gold properties recently discovered that it would be better suited to position the properties within a higher market standard existing within a fully reporting OTCBB entity.

The new name for Bella Viaggio, Inc. will be "KAT Gold Holdings Corporation" that will be the parent company for all future OTCBB share distributions. The goal is to later merge (PINKSHEETS: [ KATX ]) into an OTCBB entity under KAT Gold Holdings Corporation as a wholly owned subsidiary on a 1 for 1 ratio basis. KAT Exploration will maintain all its high grade copper properties and is aggressively preparing to take its copper exploration and drilling programs to the next major stages of development to be announced soon. Ken Stead, KAT Exploration, Inc. President and CEO, said, "This OTCBB share distribution is the first of more OTCBB share distributions that we are planning to distribute to our shareholders. We look forward to transitioning our shareholders out of the pink sheets market and on to the more transparent OTCBB market for now."

KAT Exploration has received approval of its drill permit from the Newfoundland Department of Mines and Energy to move forward towards the drill project on its Handcamp gold property. As previously announced, the drill contract has been awarded to Cabo Drilling for a minimum of 15 holes and a minimum of 1200 meters. There are approximately 20 km's of Induced Polarization (IP) that is nearly completed over various sections of the grid to assist in locating drill targets.

KAT Exploration recently announced that it had discoveries up to 5840 PPB of gold in soil samples and 31.4 g/t Au in the outcrop at the Handcamp gold property from the results of 1457 soil samples received from Actlabs in Ontario, Canada for Gold and base metal analysis.

Geologist, Mr. R. James Weick, has been engaged to oversee the drilling project and complete a NI 43-101 for the Handcamp property. Mr. Weick's qualifications can be viewed by clicking the link below.
[ www.katexploration.com/news/Geologist_Resume.pdf ]

We realize that many are anxiously waiting the actual drilling to begin. However, it is very important that initiating such a program that advanced ground work and data be in place. Our field crew has been in place for the past few weeks gathering all the necessary information and geophysics data to move the project to the actual drilling stage. We expect the actual drilling to shortly commence as the company will release an update to inform its shareholders. We appreciate your patience and encourage you to monitor our website for further updates.