04/22/2005- $35 Million Private Placement

[Franko10 ™]

Kensington Resources Announces Terms of $35 Million Private Placement Financing (ccnm)

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 22, 2005) - NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS

Kensington Resources Ltd. (the "Company") (TSX VENTURE:KRT) reports that the terms of the previously announced CDN $35 million private placement financing have been finalized. A syndicate of agents led by Loewen, Ondaatje, McCutcheon Limited, including Westwind Partners Inc., National Bank Financial Inc., Research Capital Corporation and Wellington West Capital Markets Inc. (collectively, the "Agents") have agreed to act as agents for the CDN $35 million offering on a commercially reasonable best efforts basis.

CDN $8 million of the offering will consist of flow-through common shares at a price of CDN $2.35 per share and CDN $27 million of the offering will consist of non flow-through units at a price of CDN $2.10 per unit. Each non flow-through unit shall consist of one non flow-through common share and one half of one share purchase warrant. Each whole warrant shall entitle the holder thereof to purchase one additional non flow-through common share for a period of twelve months from closing at a price of CDN $2.50 per share. The Company has agreed to use its commercially reasonable efforts to list the warrants on the TSX Venture Exchange, such listing to be effective as of the date on which all applicable resale restrictions in respect of the warrants have expired.

The gross proceeds of the offering of the flow-through shares will be used by the Company to incur exploration expenses on the Fort a la Corne Project that qualify as "Canadian exploration expenses" under the Income Tax Act (Canada). The proceeds of the offering of the units will be used for exploration programs on the Fort a la Corne Project and for general corporate purposes. The closing of the offering, currently expected for May 3, 2005, is subject to certain conditions, including completion of satisfactory due diligence by the Agents, and regulatory approval.

The Company shall pay to the Agents a commission of 5.5% of the gross proceeds of the offering. In addition, the Agents will be issued on the closing date warrants to purchase during the twelve month period following closing: (i) non-flow through common shares equal in number to 6% of the number of flow through shares issued under the offering at a price of CDN $2.10 per share; and (ii) units equal in number to 6% of the number of units issued under the offering at a price of CDN $2.10 per unit (which units will have the same terms as those sold pursuant to the offering).

The offered securities will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons, except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities of the Company in the United States.

Kensington Resources Ltd. is an exploration and mine development company currently focused on the high potential Fort a la Corne Diamond Project in Saskatchewan. The management team includes strong technical expertise and is committed to reaching a diamond producer status for the realization of shareholder value. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.245%), De Beers Canada Inc. (42.245%), Cameco Corporation (5.51%) and UEM Inc. (carried 10%). After fifteen years of exploration at Fort a la Corne, the joint venture partners are now entering into an accelerated results-driven advanced exploration and evaluation phase targeted on reaching a pre-feasibility decision in 2008. The Fort a la Corne Diamond Project includes 63 identified kimberlite bodies within the largest diamondiferous kimberlite cluster in the world.

Robert A. McCallum, President & CEO

FORM 20-F FILE #0-24980

LISTED IN STANDARD & POOR'S

FOR FURTHER INFORMATION PLEASE CONTACT:

Kensington Resources Ltd.
Robert A. McCallum
President & CEO
1-800-514-7859 or [phone]
[phone] (FAX)
[e-mail]
or
Kensington Resources Ltd.
Mel Gardner
Manager Investor Relations
1-800-710-6083
[e-mail]
www.kensington-resources.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.