Forward Event Stocks

[EdF]

KGBC 1.03 May 31, 2006

Konigsberg Corporation Enters Into Letter of Intent to Obtain An Interest In A Gold and Silver Joint Venture In Chihuahua State, Mexico

Oakville, Ontario CANADA, April 18, 2006 /FSC/ - Konigsberg Corporation (KNBG - OTCBB), ("Konigsberg" or the "Company") is pleased to announce that it has entered into a Letter of Intent with a wholly owned subsidiary of Sydney Resource Corporation (TSXV - SYR) ("Sydney") 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 that he believed the Letter of Intent would "position Konigsberg with a District-scale project in the heart of the Sierra Madre Gold Belt, Mexico. The large size of the hydrothermal system at Yoquivo and abundance of historic workings provide a number of important near term gold-silver exploration targets".

Under the terms of the Letter of Intent, Sydney granted Konigsberg 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 totaling $1,000,000 over a 24 month period following the parties entry into a definitive agreement.

The Letter of Intent 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 after signing the letter of intent, and the initial exploration expenditure of $250,000 shall become a firm commitment on the part of Konigsberg upon the signing of the definitive agreement. All other payments and expenditure commitments are optional.

On April 12, 2006, Konigsberg's Board of Directors unanimously approved a 4:1 forward stock split for shareholders of record as of April 25, 2006. The shares which Konigsberg has agreed to issue to Sydney in connection with the Letter of Intent and proposed definitive agreement will be shares of Konigsberg's post 4:1 forward split common stock.

The parties anticipate entering in to a definitive agreement regarding the joint venture and Yoquivo Property on or about May 31, 2006.

Forward-Looking Statements:
This press release contains forward-looking statements, particularly as related to, among other things, Konigsberg's business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, and other factors that may cause Konigsberg's actual results, performance or achievements, or developments in its industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks, uncertainties and other factors that are detailed in Konigsberg's Quarterly and Annual Reports and other documents Konigsberg files from time-to-time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Konigsberg cautions readers not to place undue reliance on such statements. Konigsberg does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Konigsberg's expectations and estimates.
Konigsberg Corporation

Adam Cegielski, President
905-330-1189



Konigsberg Corporation
90 Reynolds St.,
Oakville, Ontario,
L6J 3K2
Tel. [phone]
Fax. [phone]



NR 06-01