Konigsberg Corporation Enters Into Definitive Agreement on "Yoquivo" Gold/Silver Property Wednesday June 14, 3:15 am ET OAKSVILLE, ON--(MARKET WIRE)--Jun 14, 2006 -- Konigsberg Corporation (OTC BB:KGBC.OB - News) (Frankfurt:F2C.F - News) ("Konigsberg" or the "Company") is pleased to announce that it has entered into a definitive agreement with Sydney Resources Corporation (TSX VENTURE:SYR.V - News) ("Sydney") in accordance with the Letter of Intent signed April 14th, 2006. Konigsberg has the right to earn up to a 75% joint venture interest in the Yoquivo Au-Ag property located in Chihuahua State, Mexico ("Yoquivo Property"). Konigsberg's Chief Executive Officer, Adam Cegielski, said, "Now that we have come to a definitive agreement with Sydney, both companies can focus on the proposed work program on the Yoquivo. With over 40,000,000 tonnes of historic Gold production and reserves in the Sierra Madre Gold District, management is excited to start work on the property." Under the terms of the Definitive Agreement, Konigsberg has the right to participate with Sydney and purchase a 50% interest in a joint venture company, which will explore the Yoquivo Property, by paying Sydney an aggregate of 1,000,000 restricted shares of Konigsberg's common stock and $200,000 in cash, within 90 days of entering into a definitive agreement, as well as agreeing to undertake cumulative exploration expenditures on the Yoquivo Property totalling $1,000,000 over a 24 month period following the parties' entry into a definitive agreement. The Agreement also provides that Konigsberg may, subsequent to the exercise of the 50% option in the joint venture, receive an additional 25% interest in the joint venture, by paying an additional $250,000 in cash, issuing Sydney an additional 1,000,000 shares of Konigsberg's common stock and complete an additional $1,500,000 in exploration expenditures under an additional 24 month period, subject to the right of Sydney to buy back the 25% interest, and the further right of Konigsberg to extinguish Sydney's buy back right by issuing Sydney an additional 1,000,000 shares of Konigsberg's common stock. The initial cash payment of $100,000 and issuance of 500,000 shares of common stock are firm commitments on the part of Konigsberg and have subsequently been made. The initial exploration expenditure of $250,000 and payment of another $100,000 are now firm commitments on the part of Konigsberg after signing of the definitive agreement. All other payments and expenditure commitments are optional. Konigsberg is also pleased to announce that the corporate website has now been completed, and can be found at www.KonigsbergCorp.com. Details of the Yoquivo Property can be found under the Projects section of the website. A detailed PowerPoint presentation is also available on the company home page under the Quick Link section. Shareholders are advised to sign up to the company e-mail distribution list in order to stay up to date with company developments.