KIMBER ANNOUNCES THIRD QUARTER FINANCIAL RESULTS

VANCOUVER, May 17 /CNW/ --
VANCOUVER, May 17 /CNW/ - Kimber Resources Inc. (NYSE Amex:KBX, TSX:KBR)
today announced its financial results for the three and nine months
ended March 31, 2011 which were prepared in accordance with Canadian
generally accepted accounting principles.  All amounts in this news release are in Canadian dollars.  Kimber's
interim unaudited consolidated financial statements and management's
discussion & analysis for the three and nine months ended March 31,
2011, are available on SEDAR at www.sedar.com on EDGAR at http://www.sec.gov/edgar.shtml and on Kimber's website at www.kimberresources.com.  All shareholders may, upon request, receive a hard copy of Kimber's
complete interim unaudited consolidated financial statements and
management's discussion & analysis free of charge.

Kimber had working capital of $11.53 million, including $11.74 million
in cash, as of March 31, 2011, a significant increase over the $4.56
million as of June 30, 2010. Kimber's net loss for the three months
ended March 31, 2011 was $937,767 or $0.01 per common share compared
with a net loss of $1,048,227 or $0.02 loss per share for the three
months ended March 31, 2010.

Kimber's shareholders' equity decreased by $587,000 during the three
months ended March 31, 2011 primarily due to ongoing expenditures.
Certain expenditures, mainly related to exploration and technical
advancement at Monterde, were capitalized as unproven mineral right
interests.

'During the three months ended March 31, 2011 Kimber commenced a 30,000
metre drill program to upgrade and expand gold-silver mineral resources
at depth and along strike at the existing deposits,' said Gordon
Cummings, President & CEO of Kimber.  'Kimber is also making good
progress with a pre-feasibility study for Monterde due to be completed
in Q4 2011.'

Selected information

The following information is for the three months ended March 31, 2011
and 2010:

 ________________________________________________________________
|                              | |      For Three months ended   |
|______________________________|_|_______________________________|
|                              | |March 31, 2011| |March 31, 2010|
|______________________________|_|______________|_|______________|
|Results of operations         | |              | |              |
|______________________________|_|______________|_|______________|
|Net loss                      |$|     (937,767)|$|   (1,048,227)|
|______________________________|_|______________|_|______________|
|Net loss per share - basic and| |       $(0.01)| |       $(0.02)|
|diluted                       | |              | |              |
|______________________________|_|______________|_|______________|
|                              | |              | |              |
|______________________________|_|______________|_|______________|
|Net cash used in operations   |$|     (702,108)|$|     (767,399)|
|______________________________|_|______________|_|______________|
|Net cash used in investing    |$|   (1,092,847)|$|     (780,383)|
|activities                    | |              | |              |
|______________________________|_|______________|_|______________|
|Net cash provided by financing|$|     (199,997)|$|     6,412,500|
|activities                    | |              | |              |
|______________________________|_|______________|_|______________|

The following information is as at March 31, 2011 with comparable
information at June 30, 2010.

 __________________________________________________________
|                                | | March 31,| |  June 30,|
|________________________________|_|__________|_|__________|
|                                | |      2011| |      2010|
|________________________________|_|__________|_|__________|
|Financial position              | |          | |          |
|________________________________|_|__________|_|__________|
|Cash                            |$|11,739,561|$| 4,560,493|
|________________________________|_|__________|_|__________|
|Current assets                  | |12,567,726| | 5,046,917|
|________________________________|_|__________|_|__________|
|Unproven mineral right interests| |45,611,957| |42,647,361|
|________________________________|_|__________|_|__________|
|Total assets                    | |58,698,376| |48,192,238|
|________________________________|_|__________|_|__________|
|Current liabilities             | | 1,037,933| |   541,627|
|________________________________|_|__________|_|__________|
|Total liabilities               | | 1,037,933| |   541,627|
|________________________________|_|__________|_|__________|
|Shareholders' equity            | |57,660,443| |47,650,611|
|________________________________|_|__________|_|__________|
|                                | |          | |          |
|________________________________|_|__________|_|__________|
|Working capital                 |$|11,529,793|$| 4,505,290|
|________________________________|_|__________|_|__________|

The net losses for Kimber for the three months ended March 31, 2011 and
2010 include non-cash charges for stock-option compensation of $372,361
in 2011 and $303,187 in 2010.

Resignation of a director

Stephen Quin has recently tendered his resignation as a director of
Kimber for personal reasons but will continue to assist Kimber in an
advisory role.  'I would like to thank Stephen for his outstanding
contribution to Kimber,' said Gordon Cummings, President & CEO of
Kimber.  'Stephen has added tremendous value to Kimber as a director
over the last four years and I am delighted that he will be continuing
to assist Kimber going forward in an advisory capacity.'

'I am pleased that I could be a part of the Kimber team that has made
significant progress in advancing its Monterde project in Mexico,' said
Stephen Quin.  'Kimber has an experienced board and strong project and,
while no longer a director, I intend to continue to contribute where I
can to the success of the project and company.'

About Kimber

Kimber owns mineral concessions covering in excess of 39,000 hectares in
the prospective Sierra Madre gold-silver belt, including the Monterde
property, where three gold-silver mineral resources have already been
defined. The most advanced of these, the Carmen deposit, has been
extensively drilled and has undergone detailed geologic modeling. The
completion of the Preliminary Assessment for Monterde in 2010
represented a significant step forward for Kimber and is expected to
lead to further development and more advanced economic studies at the
Monterde deposits including the completion of a pre-feasibility study
during 2011.

Forward looking statements


Statements in this release may be viewed as forward-looking statements,
including statements regarding estimates of mineral resources at
Monterde, the preliminary assessment of the Monterde project, the
conversion of inferred mineral resources to measured and indicated
mineral resources, the conversion of mineral resources to mineral
reserves, life of mine estimates, the potential for gold and silver
mineral resources in the Carmen and Veta Minitas deposits and other
targets within the Monterde project, the further development, expected
results and future economic assessments of the Monterde project. When
used in this press release, the words 'expect', 'intend', 'hopes',
'should', 'believe', 'may', 'will', 'if', 'anticipates' and similar
expressions are intended to identify forward-looking statements. Such
statements involve risks and uncertainties that could cause actual
results to differ materially from those projected. Such risks and
uncertainties include, among others, uncertainty of mineral reserve and
resource estimates, risks relating to fluctuations in the price of
gold, the inherently hazardous nature of mining-related activities,
potential effects on Kimber's operations of environmental regulations
in the countries in which it operates, risks due to legal proceedings,
risks relating to political and economic instability in certain
countries in which it operates, risks related to the use of inferred
mineral resources in the preliminary assessment, and uncertainty of
being able to raise capital on favourable terms or at all, as well as
those risk factors discussed under the headings 'Cautionary Note
Regarding Forward-Looking Statements' and 'Risk Factors' in Kimber's
latest Annual Report on Form 20-F as recently filed on SEDAR and
EDGAR. There are no assurances the Company can fulfil such
forward-looking statements and the Company undertakes no obligation to
update such statements, except as required by law. Such forward-looking
statements are only predictions; actual events or results may differ
materially as a result of risks facing the Company, some of which are
beyond the Company's control.

Cautionary Note to U.S. Investors - The United States Securities and
Exchange Commission permits U.S. mining companies, in their filings
with the SEC, to disclose only those mineral deposits that a company
can economically and legally extract or produce.  Kimber Resources uses
certain terms on its website (and certain press releases), such as
'measured,' 'indicated,' and 'inferred,' 'mineral resources,' which the
SEC guidelines strictly prohibit U.S. companies from including in their
filings with the SEC.  U.S. Investors are urged to consider closely the
disclosure under the heading 'Cautionary Note to U.S. Investors
Regarding Mineral Resource and Reserve Estimates' in our latest annual
report on Form 20-F which may be secured from us, or from the SEC's
website at http://www.sec.gov/edgar.shtml.

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