Kernow Resources & Developments Ltd.

Address:	Portugal Office: Rua, Diogo Afonso Porto 5140-254 Portugal	Canada Office: c/o O'Neill and Company Suite 1880, Royal Centre 1055 West Georgia Street Vancouver, B.C. V6E 3P3
Tel No.:	(351) 22-610-8557
Fax No.:	(351) 22-609-5185
Web Site:	www.kernowresources.com
Corporate Email:	info@kernowresources.com
Contact Person:	Portugal Alan Matthews	Canada R. (Bob) Weicker
Position:	President & CEO
Tel:	(351) 22-610-8557	Director
Cell:	(351) 93-676-0927	(604) 961-5142

COMPANY DATA

Traded Market:	TSX-V
Traded Symbol:	KRD
Outstanding Shares:	11.5 million
52 Week High:	$ 0.45
52 Week Low:	$ 0.12
Present Price:	Click Here

43-101 Statement

The geological information contained within this site has been reviewed and verified by the Company's geological staff (which includes A.F. Matthews M.I.M.M.M C.Eng. a qualified person for the purpose of NI 43-101, Standards for Disclosure for Mineral Projects).

INTRODUCTION

Kernow Resources & Developments Ltd. has been listed on the TSX Venture Exchange since May 1995.

- Canadian junior gold exploration company operating primarily in Portugal
- Drilled in excess of 15,000 metres over last 8 years on several exploration properties
- Management group have been responsible for bringing several mines on stream
- Current cash $150,000 and $60,000 in marketable securities
- Seeking to acquire and explore new projects in Portugal and Spain
- Jales-Gralheira - KRD 49%, Saint Elias Mines Ltd. 51% (SLI). Saint Elias to earn a further 24% in the Property in consideration of additional cash payments totaling CDN$100,000, incurring additional exploration expenditures of not less than CDN$2,500,000 and issuing an additional aggregate of 1,000,000 shares over a three year period.

PRIMARY STRATEGIES

- Focus on the development of gold deposits in Portugal.
- Divest or JV North American properties.

FUTURE

- Acquire, explore and develop two identified copper gold projects and one identified gold antimony project in Portugal.

PROJECT IN HAND

Portugal Properties (Current KRD Projects):

The Company is currently developing the Jales-Gralheira and Boticas gold properties both of which are located in northern Portugal.

(1) Jales-Gralheira, Portugal (KRD 49%)

- Deep rooted mesothermal gold-silver deposit.
- Past production from Jales - 830,000 ounces of gold and 3.0 million ounces of silver.
- On the Gralheira deposit (400 metres to the north of Jales) there are in excess of 126 diamond drill holes with gold mineralization intersected in drill holes to a depth of 520 metres.
- Experimental Mining License applied for to extend current 350 metre tunnel and complete two test stopes.
- Objective is to bring project to pre-Feasibility in the near term.

(2) Boticas - Chaves (KRD 100%)

- Intrusive related, shear hosted, gold-quartz vein system.
- License covers a 64 sq.km area containing several extensive Roman workings.
- High grade narrow sub parallel vein sets along a known length of 500 metres.
- Previous drilling by COGEMA identified a non NI 43-101 inferred resource (which should not be relied on) of 70,000 ounces to a depth of 50 metres below the Limarinho Pit.
- Due to archeological concerns drilling permits have not yet been issued.

Canadian Properties (All 100% KRD):

(3) Sachem Bay - Labrador (KRD 100%)

Target: Voisey's Bay Style copper nickel mineralization.

This property is located 50 kilometres from the Voisey's Bay deposit. There have been 16 drill holes completed to test several geophysical anomalies. These holes intersected massive to semi-massive layered sulphides as pyrohtite associated with minor chalcopyrite and nickel mineralization. The highest grade single layer assayed 0.21 per cent nickel, 0.22 per cent copper and 0.06 per cent cobalt over a 1.0 metre core interval. In addition a platinum assay of 0.276 g/t over 0.5 metres was returned from Hole 96-06. The property needs follow up work as geophysics and possibly deep drilling, to determine if the mineralization encountered to date warrants further exploration.

(4) Joutel - Quebec (KRD 100%)

Target: Volcanogenic Massive Sulphide mineralization.

This property is situated adjacent to the Agnico-Eagle mine in Joutel. The Company has completed extensive I.P./Resistivity surveys and drilled 24 diamond drill holes on the property directed at locating a VMS ore body similar to those found on strike from property at the nearby Explo Zinc and Poirer Mines.

During drill campaigns in 1995 and 1996 the Company intersected copper/gold mineralization as massive to semi-massive sulphides which has returned assays as follows:

Hole	Interval	Copper %	Gold (g/t)	Silver (g/t)
96-06	3.35 m	2.4%	0.48	15.9
96-08	2.85 m	6.03%	0.26	55.9

Extension of the mineralization was sought by the completion of geophysics and diamond drilling during a Joint Venture agreement with Orvilliers Resources, Ltd. No significant intercepts were recorded. The property needs follow up work as geophysics and geological interpretation to determine if the mineralization encountered to date warrants further exploration.

(5) Orvilliers - Quebec (KRD 100%)

Target: Casa Berardi - Archean Lode Gold mineralization.

The Company completed an extensive I.P./Resistivity survey on the property in 1997. The property straddles the Casa Berardi Break and is prospective for Casa Berardi style gold mineralization. The property also covers an area of felsic volcanics and is on strike from the Estrades Volcanogenic Massive Sulphide deposit. In February of 1998 the Company drilled seven diamond drill holes aimed at intersecting three extensive linear I.P./Resistivity anomalies. Each of the holes intersected alteration and weak mineralization that is consistent with and similar to that associated with the Archean gold deposits of the Abitibi region. Gold mineralization (0.325 g/t Au over 1.2 m) was recorded in Hole 98-07 in a mafic tuff.

The property needs follow up work, as geophysics to determine if the mineralization encountered to date warrants further exploration.

US Properties:

(6) Shawnee - Nevada (KRD 100%)

Target: Battle Mountain Skarn / High Sulfidation epithermal gold.

The property covers an area of approximately 200 acres and is located midway between the Hycroft and past producing Sleeper Mine; both deposits being major producers of gold. Kernow's claims cover an area where a northeast trending shear zone where several reverse circulation and 3 diamond drill holes have been completed.

Sulphide rich copper and gold mineralization was encountered in several of the holes. SH-97-02 intersected over 8.84 metres of sulphide mineralization with significant pyrite that contained the following copper and gold values.

From-To (Feet)	Interval	Gold (g/t)	Silver (g/t)	Copper %
105' - 100'	5 ft (1.52 m)	0.13	9.7	1.24%
110' - 115'	5 ft (1.52 m)	0.22	8.4	0.44%
120' - 125'	5 ft (1.52 m)	2.49	84.4	0.67%

The property needs follow up work as geophysics, mapping, and drilling to advance it to the next stage of development.

(7) Dyke Hot Springs - Nevada (KRD 100%)

Target: Sleeper style pediment hosted epithermal gold mineralization.

The 160 acre claim group was acquired by staking. Gold mineralization on the property is associated with multiphase quartz/chalcedonic silicification along both high and low angle structures contained within Happy Creek Volcanics. Grab sampling along the narrower vein systems has returned gold values up to 0.902 oz/ton gold and rock chip sampling over a highly siliceous breccia in the centre of the property has returned values in excess of 0.053 oz/ton gold. The property needs follow up work, as mapping, sampling and geophysics.

MANAGEMENT

Kernow Resources & Developments Ltd. has a well management team with experience in different areas.

Board of Directors

Alan Matthews, C.Eng., President & CEO

W. (Bill) Murray, P.Eng., Director

R. (Bob) Weicker, P.Geo., Director

NEWS UPDATE

On February 05, 2007 Kernow Resources and Developments Ltd. has granted incentive stock options to directors and consultants to purchase a total of 175,000 common shares at a price of 22.5 cents per share for a period of five years.

On February 01, 2007 Kernow Resources and Developments Ltd. has released the results of surface sampling from the Limarinho pit and further provisional assay results from the hole KL003, first reported on January 23, 2007. The weighted average of the assays from the samples is summarized as 6.8 metres at 1.2 grams per tonne (g/t) gold and 2.54 g/t silver. The main mineralized section can be stated as three metres at 2.35g/t gold and 4.58g/t silver.

On January 24, 2007 Alan Matthews, CENG, president of Kernow Resources & Developments Ltd. and Loei McClenahan, president of St. Elias Mines Ltd. were provided details regarding the future exploration and development plans for the Jales/Gralheira gold property located in northern Portugal.

On January 23, 2007 Kernow Resources & Developments Ltd. has provided provisional assay results from the recently completed three-hole diamond drilling program on Kernow's 100% owned Boticas gold property located in the Tras-O-Montes region of Portugal. The diamond drill holes were completed for a total of 376 metres.

On December 13, 2006 Kernow Resources and Development Ltd. has provided the following update regarding the preliminary diamond drilling program on Kernow’s 100% owned Boticas gold property located in the Tras-O-Montes region of northern Portugal. A total of 376 metres of drilling was conducted principally to verify drill hole assay data generated by COGEMA ( Compagnie Generale des Matieres Nucleaires of France) in 1990 and to test the extent of mineralization outside the areas known to have been previously exploited. The Boticas property covers an area of 67.34 square kilometers (67,340 hectares) and covers multiple mineralized gold zones.

On December 05, 2006 Kernow Resources and Development Ltd. ahs completed a non-brokered private placement of 3,244,570 units at 17.5 cents per unit for gross proceeds of $566,050. The placement was oversubscribed and an additional 344,570 units were sold for additional proceeds totaling $60,300. The proceeds will be used to finance Kernow's obligations under the option agreements recently signed with Rio Narcea Gold Mines Ltd. to maintain the Boticas property in Portugal, to acquire other properties in Portugal, to engage investor relations services and to provide working capital.

On November 2, 2006, Kernow Resources & Developments Ltd. announced that The TSX Venture Exchange has accepted for filing two option agreements, each dated Oct. 17, 2006, between Kernow Resources & Developments Ltd. and Rio Narcea Gold Mines Ltd., whereby the Company may acquire a 60% interest in the Barrancos property and the Alandroal property located in Portugal. The agreements also grant the Company the right to earn the remaining 40% interest in each property by issuing four million shares for each property, the issuance of which will require a further application to the exchange.

On October 19, 2006, Kernow Resources and Developments Ltd. announced that it has arranged a non-brokered private placement of 2.9 million units at 17.5 cents per unit for gross proceeds of $507,500, to finance its obligations under the option agreements recently signed with Rio Narcea Gold Mines Ltd., to maintain the Boticas property in Portugal, to acquire other properties in Portugal, to engage investor relations services and to provided working capital.

On October 18, 2006, Kernow Resources and Developments Ltd. announced that it has entered into option agreements with Rio Narcea Gold Mines Ltd. to acquire an initial 60% interest with the right to earn a 100% interest in the Alandraol and Barrancos properties. The properties are located in the Ossa Morena zone of southern Portugal.

On September 27, 2006, Kernow Resources and Developments Ltd. announced that it has commenced a diamond drilling program, consisting of an initial 350 metres in three drill holes, on its 100% owned Boticas gold property in Northern Portugal. The first hole is designed to test the lateral extension of the mineralization to the west of the old workings at Limarinho. The hole will also test the subsurface extension of two veins noted on surface that have been returned assay values with high gold grades over narrow intervals.

On September 20, 2006, Kernow Resources and Developments Ltd. announced that it has received a written requisition from three shareholders to hold an extraordinary general meeting of the Company's shareholders. The purpose of meeting is stated to be the removal and replacement of the current board of directors. The Company has taken notice of the requisition and is considering setting a date, time and place for the meeting. In the interim, the Company's management will continue to develop its exploration properties, and acquire additional properties, in a rational and responsible manner.

On August 25, 2006, Kernow Resources and Developments Ltd. provided an update regarding its 100% owned Boticas gold property located in the Tras-O-Montes region of Northern Portugal.

The property covers an area of 67.34 sq.km (67,340 hectares) and encompasses multiple mineralized gold zones. There are three principal deposits within the property: the Limarinho deposit, the Porco das Feitas deposit and the Botocas workings.

Kernow has received a letter from the DGGE (Direccao Geral Geologica e Energia) which confirms the agreement of IPA (Instituto Portugues de Arqueologia) with the DGGE to support the exploration of the Boticas property. By the filing of reports to the DGGE, Kernow will keep both IPA and the DGGE informed of progress at the site.

In addition, Alan Matthews met with the Mayor of the Municipality of Boticas regarding the development of the property. The results of the meeting were positives and it was agreed that, initially, Kernow will focus its drilling activities on the Limarinho deposit. Kernow considers the Limarinho area to be the most prospective within the area over which Kernow has the rights to explore.