• Drilling will focus on defining gold resources within the oxidized rocks that extend to 200m vertical below surface within the Supremo-Latte-Double Double area
• Reverse circulation drill expected to begin late March.  Diamond drills are scheduled to start turning soon after.
• Drilling objectives:
  1. Expand and connect the high-priority gold zones, Supremo, Connector, Latte and Double Double
  2. Drill new discoveries by testing high-quality soil anomalies such as Sugar
  3. Identify new gold-in-soil anomalies by collecting 10,000 additional soil samples across the 150,000 acre property with the aim to delineate future drill targets.  To date, all mineralized zones at Coffee have been discovered by this low-cost and proven exploration technique.
• Further metallurgical testing is planned and will encompass a broader suite of samples from additional mineralized zones and depths within the oxidized and sulphide profiles.  Heap-leach column testing is currently underway and initial results are expected early in Q2 of 2012. 

Supremo-Latte-Connector-Double Double Drill Strategy

Expansion drilling is planned to commence in late March on the Supremo-Connector-Latte-Double Double gold zones, where mineralization comes to surface and is open in all directions.   These zones occur within close proximity (~1km) of each other and represent the highest priority targets known to date on the Coffee property.  The drill strategy for 2012 is to target high-grade, near-surface, oxidized gold mineralization from these zones.  Geological similarities on all scales suggest these zones are related to the same mineralizing event, and interpretation of geophysical data supported by gold-in-soil anomalies confirms the potential for linkages between the known gold zones along trend and at depth.

The Supremo zone is approximately a 2km by 2km gold-in-soil anomaly consisting of at least 8 structural zones (T1 to T8).  Previous drilling has mainly been focused on the north-south trending T2 and T3 zones where mineralization has been defined to at least 350m and 700m along strike respectively.  Surface soil geochemistry and newly acquired geophysical data strongly suggest that the Supremo T3 and possibly the other ‘T’ structures link with the Latte zone located 1km south and that T3 extends northwards for up to 800m, for a total inferred strike length of 2.5km. The gap between Supremo and Latte, referred to as the “Connector Zone”, represents a high priority exploration drill target for 2012. 

The Latte zone is defined by an east-west trending mineralized structure that is at least 1,550m in length with a minimum vertical depth extent of 450m below surface and is open along trend and at depth.  Drilling in 2011 towards the west successfully extended gold mineralization 400m beyond the previously defined Latte gold-in-soil anomaly proving that the mineralized structure carries beyond the soil anomaly.  Geophysical data also suggests the Latte structure may extend an additional 2.5km towards the Kona area and 800m east towards Double Double.  Drilling in 2012 will test the large-scale Latte structure with aggressive step-out drilling.

The Double Double gold zone was discovered in 2010 by drilling beneath a linear gold-in-soil trend that extends for at least 1km along a west to northwest trend co-incident with a magnetic lineament traceable for several more kilometers, suggesting the gold-bearing structures at Double Double extend for several kilometers and possibly links with the Latte gold zone located 800m west. Presently, only 200m of the 1km long soil anomaly has been drill tested, and drilling in 2012 will focus on expanding the Double Double zone along strike and at depth where mineralization remains open.

Late last season, overland access was established by building a 23km road that connects the Coffee camp, commercial barge landing site and airstrip to the Supremo-Latte-Connector-Double Double gold zones.  The road decreases Kaminak’s dependency on helicopters and allows for the use of skid and track-mounted drills, both of which will increase drill efficiency and reduce operating costs.  The road also enables Kaminak to begin its exploration season earlier and end later.

New Gold Targets

With only 15% of the 150,000 acre Coffee property systematically explored and over 20kms of untested gold-in-soil anomalies, Kaminak believes the potential for future, near surface, gold discoveries at Coffee remains high.  A key exploration drill target this year will be the Sugar Zone, a new undrilled zone consisting of several kilometer-scale long gold-in-soil trends such as “Sugar North” (minimum 1km long) and “Sugar South” (minimum 2 km long).  The scale and intensity of the Sugar soil results are strikingly similar to the original soil results that led to Kaminak’s initial drill discoveries (i.e. Supremo, Latte and Double Double) in 2010.  The geological setting and geochemical pathfinders suggest mineralized trends at Sugar are typical “Coffee-style” structurally controlled occurrences.  Drilling at Sugar is expected to begin in May-June of 2012.

In addition to drilling new soil targets, Kaminak intends to collect approximately 10,000 soil samples across the Coffee property.  The soil programs will seek extensions to the existing high tenor gold-in-soil anomalies at Coffee, including extensions to the newly defined Sugar zone where widely-spaced ridge line samples yielded results as high as 3,086 ppb Au.  The soil program will also include comprehensive first pass ridge-line soil sampling across the remainder of the property.  To date, all mineralized zones at Coffee have been discovered by soil sampling, a low-cost and proven exploration technique that has been extremely effective in delineating gold mineralized structures below surface.
 
Corporate Update

Kaminak would like to also announce the completion and filing of an updated National Instrument 43-101 independent technical report (non-resource report) on the company’s 100% owned Coffee Gold Project, Yukon Territory, Canada.

During the third quarter of 2011, Kaminak commissioned SRK Consulting (Canada) Inc. (“SRK”) to visit the property, review and audit the exploration and metallurgical work undertaken by Kaminak, and to prepare an independent technical report following the guidelines of the Canadian Securities Administrators National Instrument 43-101 and Form 43-101F1. SRK reviewed and audited the exploration and metallurgical data available for the Coffee Project.

The reported titled “Independent Technical Report, Coffee Gold Project, Yukon Territory, Canada” will be filed on Sedar, www.sedar.com and on the Kaminak website, www.kaminak.com.  In addition, the report can be viewed by simply clicking the following link:  http://kaminak.com/_resources/kaminak_technical_report_Jan_2012.pdf

Stock Options Grant

Kaminak Gold Corporation's Board of Directors has granted an aggregate of 1,015,000 stock options, subject to regulatory approval, to Directors, Offices and employees of the Corporation. The options will have an exercise price of $2.47 per common share, and will be released in quarterly installments over a one year period.

Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak's President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

"Rob Carpenter"

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

• Supremo T3 high-grade oxidized gold zone extended an additional 100m south along strike.  Results include:  19.6 grams per tonne gold (g/t Au) over 10.7m (from 120.7m hole depth); 45.9 g/t Au over 3.1m (from 25.0m hole depth); 5.7 g/t Au over 15m (from 77m hole depth) and 6.5 g/t Au over 12.2 m (from 6.4m hole depth).  Gold mineralization on T3 now extends at least 700m along trend and remains open in all directions.  
• Surface soil geochemistry and newly acquired aeromagnetic data suggest the Supremo ‘T’ structures link with the Latte zone located 1km south, and also extends northwards for up to 800m, for a total inferred strike length of 2.5km.  
• Newly Defined Supremo T2 oxidized zone identified approximately 150m west of and parallel to T3. Results include:  2.6 g/t Au over 24.4m (from 12.5m hole depth); 2.9 g/t Au over 21.3m (from 53.6m hole depth) and 6.5 g/t Au over 9.2m (from 152.7m hole depth).  Mineralization can be traced at least 350m along strike and remains open in all directions.
• Latte West deep drilling further extended mineralization down-dip.  Results include:  3.8 g/t Au over 8m (from 237m hole depth); 1.1 g/t Au over 48m (from 281m hole depth); 1.1 g/t Au over 26m (from 337m hole depth) and 1.9 g/t Au over 10m (from 334m hole depth).
• Regional drilling yields new gold discovery at Macchiato soil anomaly.  Four holes spaced over 300m all intersected significant gold mineralization.  Results include:  5.4 g/t Au over 5m (from 10m hole depth); 4.2 g/t Au over 6m (from 45m hole depth); 3.6 g/t Au over 6m (from 56m hole depth) and 5.8g/t over 3m (from 121m).  

Drill Results

All assay results from the 2011 drill program have now been released.  Approximately 48,000m were drilled continuously from April to October, comprising 101 diamond drill holes and 134 reverse circulation drill holes.  Planning of an aggressive 2012 drill program is ongoing with drilling expected to recommence in late March.  Program details will be released in the coming weeks. 

Supremo Drill Results (T3 and T2 Zones)

New drilling successfully extended the high-grade Supremo T3 gold zone an additional 100m south along strike and mineralization now totals 700m in length and remains open in all directions.  Late in the 2011 field season a total of 13 holes were completed from Section 4225N to Section 4325N comprising 8 RC holes and 5 diamond holes.  Results include:  19.6 grams per tonne gold (g/t Au) over 10.7m (from 120.7m hole depth), which includes 33.4 g/t Au over 6.1m; 45.9 g/t Au over 3.1m (from 25.0m hole depth); 5.7 g/t Au over 15m (from 77m hole depth) and 6.5 g/t Au over 12.2 m (from 6.4m hole depth).  Systematic drilling in 2011 focused on expanding the near-surface oxidized gold mineralization on the T3 structure, which extends up to 200m depth, and has outlined a significant high-grade steeply-dipping mineralized zone that remains open in all directions.  

CFR124 intersected the highest gold grade from Supremo T3 drilling to date, comprising a fire assay result of 86.8 g/t Au over 1.5 metres from 126.8m to 128.3m down hole.  As part of Kaminak’s standard QA / QC procedures, screen fire assaying was conducted to verify the initial high grade fire assays, returning a closely comparable result of 91.3 g/t Au.  In addition, a field duplicate sample collected over the same interval returned 93.1 g/t Au from fire assay and 97.0 g/t Au from screen fire assay.  The duplicates and screen fire assays (which are used in the calculation of the drill intercept reported in the table below) further support the consistency, repeatability and overall reliability of drill assaying results at the Coffee Gold Project.

Surface soil geochemistry and newly acquired aeromagnetic data suggest the Supremo ‘T’structures link with the Latte zone located 1km south, and also extends northwards for up to 800m, for a total inferred strike length of 2.5km.  South of the currently drilled T3 zone, the Connector zone lies at the southern-most extent of the interpreted ‘T’ structures where they intersect or merge with the Latte structure.  Recently, the discovery of a new zone at Connector was announced (news release November 21, 2011) comprising drill intercepts up to 11.1 g/t Au over 4m.  The ‘gap’ in drilling on the Supremo ‘T’ structures between Supremo and Latte/Connector represents a top priority exploration target for 2012.  Approximately 800m of inferred strike on the T structures in this ‘gap’ zone will be systematically tested by step-out drilling in 2012.  

North of the Supremo T3 zone, four additional diamond holes were drilled on aggressive step-outs of up to 800m along strike of the previous T3 drilling, and all of these new holes successfully intersected alteration and mineralization consistent with the T3 structure.  Results include:  4.2 g/t Au over 2m (from 149m hole depth) and 5.2 g/t Au over 3m (from 302m hole depth).

A new oxidized gold trend is emerging on the Supremo T2 structure located approximately 150m west of the well-defined T3 gold zone.  Gold mineralization within the T2 and T3 structures are geologically and geochemically similar and are interpreted to be related.  Results from T2 include:  2.6 g/t Au over 24.4m (from 12.5m hole depth); 2.9 g/t Au over 21.3m (from 53.6m hole depth) and 6.5 g/t Au over 9.1m (from 152.7m hole depth), in addition to 3.7 g/t Au over 16m from CFD29 drilled in 2010.  Mineralization can be traced at least 350m along strike and remains open in all directions.  To date, the T2 structure has received fewer drill holes than the neighboring T3 zone; however, results to date at T2 are consistent with multiple plunging gold zones hosted in steeply-dipping deeply oxidized structures. 

Two additional diamond core drill holes tested other structures in the Supremo area east of T3:  holes CFD168 and 173 tested the inferred T6 and T8 structures respectively.  Both drill holes returned multiple encouraging intercepts including from CFD168:  5.2 g/t Au over 2m (from 101m hole depth) and 8.6 g/t Au over 1m (from 254m hole depth);  and from CFD173: 1.2 g/t Au over 7m (from 144m hole depth). 

Overall, the Supremo drill results from 2011 built strongly upon the initial discoveries made in 2010 with the key targets achieved, including proving continuity of structure, consistency of high grade plunging zones, and significant strike length.  Furthermore, the results indicate potential for additional significant mineralization to be delineated, both on the high grade T3 structure and in multiple sub-parallel ‘stacked’ structures over an area of at least 2km x 2km.  All zones discovered to date remain open along strike and to depth. 

Latte

Three additional diamond core holes were drilled late in the 2011 field season targeting down-dip extensions of the broad gold mineralized zones intersected throughout the 2011 Latte drill program.  The three drill holes comprised step-outs along strike of the significant deep drill intercepts in CFD164 which were announced in late 2011 (news release 21 November 2011) including 5.5 g/t Au over 11m and 20.5 g/t Au over 3m at vertical depths of up to 450m below surface.  The follow-up drilling on 50m spaced sections returned intercepts including;  1.1 g/t Au over 48m (from 281m hole depth) and 1.1 g/t Au over 26m (from 337m hole depth). 

Regional Drill Results

Three previously undrilled gold-in-soil anomalies were drilled in 2011 including the Macchiato, Cappuccino and Americano West areas. 

The best results were returned from Macchiato located approximately 1.5km NNW of Supremo T3, which comprises an ENE striking gold-in-soil zone over 800m strike to a maximum of 237ppb Au.  Significant gold mineralization was intersected in every drill hole over +400m strike length, thereby confirming a new bedrock gold discovery.  Drill assay results included:   4.2 g/t Au over 6m (from 45m hole depth), 5.4 g/t Au over 5m (from 10m hole depth), and 3.6 g/t Au over 6m (from 56m hole depth).  Follow-up drilling is planned in 2012. 

Gold mineralization at Macchiato is hosted within brittle fractures and brecciated gneisses and schists accompanied by silica flooding and pyrite/limonite alteration.  High‐grade intervals are associated with intense quartz-sericite alteration and high sulphide content.  Geological similarities between Macchiato and other gold zones at Coffee suggest these zones are related to the same mineralizing event, and, as a result, are potentially connected along trend and at depth.  

All maps, sections and assay sheets are currently available on the Kaminak website, www.kaminak.com.

Assay Table

Drill holes CFR-100, CFR-101, CFR-107, CFD-155 and CFD-167 returned no significant values.
Drill holes CFR-130, CFR-130A and CFR-132 were abandoned due to ground conditions.
Drill holes prefixed CFD: diamond core holes. Drill holes prefixed CFR: reverse circulation holes.
*True width estimated at approximately 2/3 down-hole length.

QA / QC

Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak's President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly to the ALS Minerals preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

"Rob Carpenter"

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Kaminak’s potash assets include subsurface mineral rights and surface rights to public and private potash leases within the Michigan Basin and a proprietary, regional potash database.  Kaminak’s technical team generated these solution-mine potash targets in-house and represent a world-class opportunity to explore for potash in the underexplored Michigan Basin, host to the producing Hersey Mine owned by The Mosaic Company (MOS: NYSE) (“Mosaic”). 

MPI is a private company intending to go public within 2012 and was specifically formed to explore and advance Kaminak’s potash assets.  Details about the exploration potential for potash in the Michigan Basin, MPI and the option agreement are outlined below.

Potash Potential in the Michigan Basin

Since 2008, Kaminak has been building a comprehensive, regional, potash database on the solution mining potential of the Michigan Basin, and as a result, prospective high-grade targets with the potential to host potash deposits were identified, and land totaling over 31,360 acres was acquired via state lease nomination and approximately 200 acres was acquired by private mineral leases.

The unexplored potential of the Michigan basin is reinforced by the fact that only two companies, Kaminak and The Mosaic Company, hold potash leases in the State of Michigan.  Mosaic is the owner of the producing Hersey Mine, which is a solution mine, located approximately 14km south of Kaminak’s potash lease boundary.  The Hersey Mine began operation in 1989 and produced approximately 100,000 tonnes of MOP (muriate of potash) and more than 200,000 tonnes of salt between 1999 and 2002 (Mosaic 2005).  The lands controlled by Mosaic contain an estimated 40 million tonnes of potash mineralization grading 26.7% K2O contained in two beds ranging in thickness from 4.3 to 9.1m (Mosaic 2005).

In 2010, Agapito Associates, Inc., an independent third-party geological consulting and mine engineering firm, visited the leases, reviewed and audited the exploration potential undertaken by Kaminak, and prepared an independent technical report.  The internal Technical Report concluded that the grade thickness and distribution of the potash mineralization in the Michigan Basin is sufficient to justify the expenditure of funds to undertake further work designed to assess the quality, quantity and extent of the potash mineral resource within the lease areas. 

The Michigan Potash Inc. Team

Michigan Potash Inc. (MPI) is a private junior exploration and development company specifically formed to explore and advance Kaminak’s potash assets. MPI is focused on the exploration of high-grade potash deposits and to develop a potash resource within the State of Michigan.  Brief bios of the MPI team are outlined below and further information about MPI is available on the company’s website, www.michiganpotash.com.  

• Ian Colquhoun, Ph.D., P.Geo., President, CEO & Director, is a practicing professional geologist with over 20 years of experience working for private and publically traded companies including Dundee Energy LP and Kaminak Gold Corporation.  Ian is an expert in the Trenton-Black River Hydrothermal Dolomite Oil and Gas Play located in Michigan and Appalachian Basins and has presented several core workshops at AAPG-ESM, OPI and PTTC regional conferences.  Ian is currently President of the Ontario Petroleum Institute Board of Directors and a member in good standing with AAPG since 1991, OPI since 2000, and a registered Professional Geologist (APGO #1032) since 2003.
   
• Mr. Tom Godbold, Director, obtained a Bachelor's of Science degree in Geology from the Michigan State University in 1972. He retired in 2010 from the State of Michigan, Office of Geological survey after 35 years of service. He has been directly involved with regulation of the mineral wells industry, including solution mining, since 1981, and supervision of up to 60 professional staff.  In addition, he currently serves as Business Manager (and a past president) of the Michigan Basin Geological Society.
   
• Mr. Glen Dawson, Director, has built up and sold four oil and gas companies during his career. His most recent transaction included Nuloch Resources, a Canadian public oil and natural gas producer.  Glenn is well known on Bay Street, his last raise was over $40 million for Nuloch in 2010. He is an expert with both horizontal and vertical drilling.
   
• David Terry, Director, Ph.D., P.Geo., has over 20 years of experience in the resource sector and has held numerous senior positions with both major and junior mining companies, including Boliden Limited, Westmin Resources Limited, Hemlo Gold Mines Inc., Cominco Limited and Gold Fields Mining Corporation.
   
• John Moses, Director, brings over 30 years of experience in exploration and development in the mineral and power generation sectors.  John sits on the Board of Sherritt International Corp. (TSX: S).
   
• Dennis Sullivan, Director, is a registered Professional Engineer and a Michigan resident with 30 years of experience at the Morton Salt Company, a sodium chloride solution-mining/evaporative crystallization production facility in Michigan. Dennis was involved in the planning and oversight of drilling and completion of sodium chloride solution-mining wells and ensured that all well operations met both EPA and Michigan environmental integrity requirements. 
   
• Mr. Dan Weir, Director, currently works at Pope & Company Limited, a 50 year old brokerage firm in Toronto. Dan has spent the last 15 years working at some of the top financial firms in Canada and brings years of capital markets experience to the board.

Terms of the Option Agreement

Subject to TSX-V and regulatory approvals, MPI has the right to earn a 100% interest in Kaminak’s potash leases by issuing Kaminak an aggregate of 6,000,000 common shares in MPI and granting Kaminak a Michigan state-wide 1% gross overriding royalty with respect to all mined products sold from any MPI property.  After the exercise of the Option, MPI and Kaminak shall enter into a royalty agreement whereby MPI will pay to Kaminak an advanced annual royalty payment in the amount of US$100,000 payable in cash or in common shares of MPI, commencing on January 1st following the fourth anniversary of MPI’s Listing Date. In addition, the following obligations must be met by MPI:

• On or before October 5, 2012, the common shares of MPI shall have become listed for trading on the Toronto Stock Exchange or the TSX Venture Exchange; and
   
• On or before the third anniversary of the Listing Date, MPI must complete a NI 43-101 compliant technical report which establishes an Inferred Resource (as defined under NI 43-101) on one of its properties

Should MPI undertake an equity financing or financings, Kaminak has the right to purchase up to an aggregate of 9.9% of the equity issued by MPI in such financing, until the earlier of (i) the exercise of the Option, or, (ii) the termination of the option agreement.   To date, Kaminak has spent approximately $325,000 on Michigan potash exploration.

Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak's President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Kaminak’s potash leases represent early-stage exploration properties and do not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

"Rob Carpenter"

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Kona Drill Results

Summary

• Kona drilling defines near-surface gold mineralization over 400m strike, co-incident with an extensive gold-in-soil anomaly. The mineralized zone remains open in all directions. Results include 5.2 grams per tonne gold (g/t Au) over 11m (from 66m) and 2.5 g/t Au over 17m (from 140m).
   
• Reconnaissance drilling identifies new bedrock gold zone at Kona North, including 2.0 g/t Au over 14m (from 51m) and 1.0 g/t over 26m (from 53m).  A significant portion of the extensive gold-in-soil anomaly remains untested.
   
• Mineralized zones occur as plunging high-grade lodes hosted within steeply-dipping fault zones. Mineralogy and geochemistry suggest a link with the Latte-Supremo gold zones located >5km to the east.
   
• Granite-hosted gold targets such as Kona, Espresso and Americano remain largely untested despite extensive gold-in-soil trends.  Width and grade of near-surface Kona gold zones is consistent with Coffee-style mineralized trends discovered elsewhere on the property.

Drill Results

The principal objective of the 2011 Kona drilling program was to follow-up on the initial drill discovery made in 2010 comprising intercepts of 2.2g/t Au over 57m and 1.9 g/t Au over 23m in diamond core hole CFD-53 (see news release October 12, 2010).  Prior to commencement of drilling in 2011, a horizontal loop EM survey was undertaken over the main Kona gold-in-soil anomaly with results indicating an east-northeast trending bedrock structure coincident with the gold-in-soil trend.  Subsequently, the 2011 drill program was designed to step-out along strike to the east and west of the initial 2010 drill discovery on north-south oriented traverses.  Drilling successfully intersected steeply dipping east-northeast striking fracture/shear zones, which are co-incident with overlying gold-in-soil anomalies.  Gold mineralization was intersected on every drill section over a 400m strike length and to >200m below surface.  Multiple close-spaced parallel mineralized structures are present over the majority of the Kona zone tested to date.  High-grade gold mineralization is interpreted as forming a near-surface high-grade plunging lode, which includes intercepts of up to 4.51g/t over 20m (CFD-53) and 5.16 g/t Au over 10.67m (CFR-56).

In addition, a previously un-drilled section of the Kona North zone consisting of a +100ppb Au north-south trending gold-in-soil zone over a total length of >500m was tested by reconnaissance RC drilling resulting in the discovery of a new zone of bedrock gold mineralization.  Three east-west oriented sections were drilled over the southern portion of the gold-in-soil trend.  Two gold mineralized structures were intersected on section 3400N interpreted as steeply-west dipping zones.  Drill intercepts include 1.03g/t over 25.91m (CFR-95) and 2.03g/t over 13.71m (CFR-94).  Additional drilling is required along strike to north and south to confirm strike orientation. 

The host rock at Kona and Kona North comprises granite, which is strongly sericite and clay-altered adjacent to mineralized structures.  Gold mineralization is associated with disseminated pyrite and pyrite veinlets in fracture/shear zones.  High gold grades correspond with sulfide-matrix fault breccias.  Shear zones are oxidized near surface containing abundant limonite after sulfide with oxidation locally persisting up to 100 meters depth.  Geological and geochemical similarities between Kona and the Latte-Supremo-Double Double zones >5km to the east suggest all zones are related to the same mineralizing event and, as a result, are potentially connected along trend.  The Latte Structure is interpreted to intersect the northern section of the Kona North zone. 

Gold mineralization at Kona and Kona North commences at surface and remains open in all directions.  Additional follow-up drilling is planned to be undertaken in 2012.  Also, extensive gold-in-soil trends remain to be systematically tested at Kona and at the adjacent Espresso and Americano zones.

Assay Table

Drill holes CFR-58, 80-82, 85-88, 90-92 and 97 returned no significant values.
Drillholes prefixed CFD: diamond core holes.  Drillholes prefixed CFR:  reverse circulation holes.
* True width estimated at approximately 2/3 down-hole length.  
** RC holes 'twin' 2010 diamond core holes. 

QA / QC

Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak's President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly by charter plane or barge to the ALS CHEMEX preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

"Rob Carpenter"

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Summary

• Deepest hole ever drilled on the Coffee property successfully intersects multiple high-grade zones including;  5.5 grams per tonne gold (g/t Au) over 14m (from 353m core length); 5.5 g/t Au over 11m (from 433m); 20.5 g/t Au over 3m (from 454m) and  2.8 g/t Au over 13m (from 464m). 
   
• Drilling extends Connector zone 100m along trend towards Supremo gold zones. A new gold zone at Connector has also been discovered occurring parallel to the original Connector mineralization, results include; CFD-149: 1.5 g/t Au over 17m (from 139m), 10.1 g/t Au over 2m (from 166m) and CFD-152: 11.1 g/t Au over 4m (from 103m) and 1.9 g/t Au over 8m (from 153m)
   
• Latte structure extended an additional 200m east along strike towards Double Double zone and now extends at least 1550m long and is open in every direction and at depth.   Assays for three additional deep holes at Latte are pending. 
   
• Latte is one of several closely spaced gold prospects, which also includes the Supremo zone (900m north) and the Double Double zone (950m east). Geological similarities on all scales suggest these zones are related to the same mineralizing event and, as a result, are potentially connected along trend and at depth

Drill Results

2011 drilling programs were conducted with the objective of extending mineralization along strike and to depth and proving continuity of mineralized structures.  In previous news releases, the Company announced the extension of the Latte zone over 1350m strike length and to 275 metres depth below surface (September 14, 2011) and the discovery of the Connector zone (November 16, 2010) which returned an initial intercept of 5.5 g/t over 11m on a north-south trend along strike of the Supremo Zone.  

The drilling covered within this news release extends the east-west trending Latte mineralized structure to at least 1550m along strike and 450m vertical below surface and highlights the potential for further extensions to the west and eastwards towards the Double Double Zone (950m east).  A deep step-back hole at Latte West, CFD-164 drilled to 542.5m down hole depth, intersected a total of over 250 gram-metres (total grade x width) down hole to a maximum vertical depth below surface of 450m indicating that the Latte mineralized system persists strongly to depth.  Three additional holes to test the depth potential beneath Latte West were drilled along strike of CFD-164 with results currently pending.

In addition, the initial Connector discovery is extended 100m northwards (from CFD-69:  5.5g/t over 11m from 133m depth) thereby confirming the north-south orientation and further highlighting the potential to link this zone with Supremo 900m to the north along strike.  Significantly, a new parallel trending mineralized zone was intersected in drill holes CFD-149 (1.5 g/t over 17m and 10.1 g/t over 2m) and CFD-152 (11.1 g/t over 4m), which suggests the potential for the Connector system to host multiple stacked lenses of mineralization akin to the Supremo zones T1 to T7. 

Gold mineralization in all zones at Coffee is hosted within brittle fractures and brecciated gneisses and schists accompanied by silica flooding and pyrite/limonite alteration.  High‐grade intervals are associated with polyphase breccia, microbreccia, quartz vein breccia, coarse sericite and high sulphide content.  Geological similarities between all zones and at all scales suggest these zones are related to the same mineralizing event and, as a result, are potentially connected along trend and at depth.  

Latte/Connector is one of several closely spaced gold prospects, which also includes the Supremo zone (900m north) and the Double Double zone (950m east).  The 2011 drilling has extended mineralization at Latte West 400m beyond the western limit of the gold-in-soil anomaly, and interpretation of geophysical data supported by gold-in-soil anomalies has reinforced the potential for linkages between the known gold zones.  All zones are interpreted to come to surface and remain open along strike and at depth.  Drilling in 2012 will continue to test for strike and depth extensions and across-strike for multiple stacked lenses of mineralization. 

All maps, sections and assay sheets are currently available on the Kaminak website, www.kaminak.com.

Assay Table

*True width estimated at approximately 2/3 core length.

QA / QC

Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak's President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly to the ALS Minerals preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

"Rob Carpenter"

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Vancouver, British Columbia – Kaminak Gold Corporation (KAM: TSX-V) (“Kaminak” or the “Company”) is pleased to announce that it has closed the previously announced bought deal private placement financing (the “Offering”). The Company has issued 1,786,000 Class A common shares (the “Common Shares”) at a price of C$2.80 per Common Share and 2,985,000 Class A common shares which qualify as “flow-through” shares for purposes of the Income Tax Act (Canada) (the “Flow-Through Shares”) at a price of C$3.35 per Flow-Through Share for aggregate gross proceeds of C$15,000,550. The Common Shares and Flow-Through Shares are collectively referred to herein as the “Offered Securities”. The Company intends to use the net proceeds of the Offering to conduct exploration activities on its Coffee project located in the White Gold District, Yukon, and for general corporate purposes.

The Offering was led by Paradigm Capital Inc. and included Canaccord Genuity Corp., Fraser Mackenzie Limited, BMO Capital Markets and Raymond James Ltd. (the “Underwriters”). The Underwriters received a cash commission of 6% of the gross proceeds raised through the Offering and compensation options (“Compensation Options”) equal to 6% of the number of Offered Securities sold in the Offering. Each Compensation Option shall be exercisable to acquire one common share of the Company at an exercise price of C$3.35 for a period of 24 months from closing. Securities issued under the Offering are subject to a hold period which will expire four months and one day from the date of closing, being March 9, 2012.

This news release contains certain forward-looking statements including with respect to use of proceeds by the Company and exploration activities on its properties, and such statements involve risks and uncertainties. The results or events predicted may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results, or any other occurrence.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”
Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com  or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia – Kaminak Gold Corporation (KAM:TSX-V) (“Kaminak” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Paradigm Capital Inc. and including Canaccord Genuity Corp., Fraser Mackenzie Limited, BMO Capital Markets and Raymond James Ltd. (collectively the “Underwriters”), to sell 1,786,000 Class A common shares (the “Common Shares”) of the Company at a price of C$2.80 per Common Share and 2,985,000 common shares which qualify as “flow-through” shares for purposes of the Income Tax Act (Canada) (the “Flow-Through Shares at a price of C$3.35 per Flow-Through Share for aggregate gross proceeds of C$15,000,550 (the “Offering”). The Common Shares and Flow-Through Shares are collectively referred to herein as the “Offered Securities”.

The Company intends to use the net proceeds of the Offering to conduct exploration activities on its Coffee project located in the White Gold District, Yukon, and for general corporate purposes.

Closing of the Offering is anticipated to occur on or before November 8, 2011 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. Securities issued under the Offering will be subject to a four month hold period which will expire four months from the date of closing.

The Underwriters will receive a cash commission equivalent to 6% of the gross proceeds raised, and share purchase warrants entitling the Underwriters to purchase, within 24 months after closing of the Offering, common shares equal to 6% of the Offered Securities sold pursuant to the Offering at a price of C$3.35.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”
Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com  or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 “These results continue to illustrate the excellent early-stage exploration potential of the Coffee property. The scale and intensity of the new Sugar soil results are strikingly similar to the original soil results that led to Kaminak’s drill discoveries in 2010,” stated Rob Carpenter, Kaminak’s President and CEO. “The Sugar anomalies represent the most significant untested gold-in-soil trends in the Yukon and an extensive drill program is currently planned for early 2012.”

Key Point Summary

• Several kilometer-scale long gold-in-soil trends identified in the “Sugar” area, including “Sugar North” (minimum 1km long) and “Sugar South” (minimum 2 km long)
• Geological setting and geochemical pathfinders suggest mineralized trends at Sugar are typical “Coffee-style” structurally controlled occurrences
• Widely-spaced ridge line samples within previously un-sampled portions of the Coffee property yield results as high as 3,086 ppb Au
• Ongoing drill program now exceeds 46,000m completed since April. Current focus is on the Supremo and Latte  gold zones

Sugar Soil Results

The Sugar Trend was identified by a first pass ridge and spur sampling in 2010 comprising of a broad consistent zone of gold-in-soil located 20km from the Supremo-Latte zones at Coffee.  A follow-up 100m by 50m grid soil sampling program was completed in July 2011.  Soil assay results delineate a broad new gold-in-soil footprint measuring 4km by 1.8km.  The Sugar zone is now directly comparable in scale and tenor to the original gold-in-soil anomaly over the Supremo-Latte-Double Double areas at Coffee that led to Kaminak’s drill discoveries in 2010. 

A total of 2,916 soil samples from Sugar were analyzed and 92 of these samples yielded results >100ppb Au.  Overall, results ranged from background (<10ppb Au) to a high of 2,135ppb Au (2.135g/t Au).  Gold-in-soil anomalies are also associated with high arsenic (As) and antimony (Sb), which is also identical to the Coffee geochemical suite.  Two broadly east-west trending zones are identified: “Sugar North” and “Sugar South”. 

The core zone of “Sugar North” (consistent +50ppb Au gold-in-soil) measures 1km east-west by 500m north-south, with 27 +100ppb Au samples peaking at 522ppb Au.  The Sugar North trend can be traced a further 900m to the west, across a section of north-facing slope where soil sampling is subdued by permafrost, to a zone measuring 600m x 300m containing an additional 4 +100ppb Au samples peaking at 255ppb Au.
“Sugar South” comprises an eastern and western zone, separated by a section of north-facing slope where soil sampling is subdued by permafrost.  The eastern zone measures 900m east-west, by 350m north-south, with 23 +100ppb Au samples peaking at 1,142ppb Au (1.142g/t Au).  The western zone measures 1200m east-west, by 600m north-south, with 19 +100ppb Au samples peaking at 1,450ppb Au (1.450g/t Au).  The total combined strike length, if proven by future sampling to be a continuous alteration system, could be in excess of 2.3km east-west. 

Preliminary interpretation of geophysical data suggests east-west trending structural zones marked by magnetite destruction at both Sugar North and Sugar South, plus additional possible structural trends in other orientations akin to those observed at Coffee.  An initial trenching program was completed over the Sugar North and South zones in September 2011 with assay results currently pending.  A follow-up drilling program is planned for 2012. 

Several smaller +100ppb Au zones are located throughout the Sugar grid survey, and ridge and spur sampling returned an additional 6 +100ppb Au samples peaking at 3,086ppb Au located within an area measuring 7km by 5km to the east of the current Sugar grid.  This zone will be targeted for follow-up grid soil sampling in 2012. 

Maps are currently available on the Kaminak website, www.kaminak.com.

Subject to regulatory approval, the Board of Directors has granted an aggregate of 150,000 stock options under the Company’s Stock Option Plan to newly appointed CFO, Jonathan Singh.  The stock options have an exercise price of $2.82 per share, will vest according to schedules set by the Board of Directors and are exercisable for a period of five years.

QA / QC

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Samples were shipped to Acme Laboratories of Vancouver, B.C. for analyses. Samples were crushed and pulverized using a mild steel ring and puck mill. 30 gram aliquots were then weighed into fire assay crucibles and the samples are placed in a cupel and fired at 950 degrees Celsius.   After cooling, 10 ml of HCl is added in order to dissolve gold particles. Solutions are analyzed for Au on a Varian 735 ICP-ES. Certified reference materials are inserted into the batch and results were verified by a British Columbia Certified assayer. The Coffee property represents an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

"Rob Carpenter"

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Mr. Singh is a member of the Association of Certified General Accountants of BC and Canada and has over 17 years of experience in the various areas of tax, financial reporting, internal audit and treasury, for both publicly traded resource companies and public practice accounting firms.  Previously, Mr. Singh held various financial roles in the mineral resource industry, including serving as corporate controller for Magma Energy Corp. (a predecessor to Alterra Power Corp. AXY:TSX) and Silver Standard Resources Inc. (SSO: TSX) (SSRI: NASDAQ), as well as working in the tax group for KPMG.   Mr. Singh holds a Bachelor of Accounting Science degree from the University of Calgary.

Effectively immediately, Mr. Singh will replace Mr. Chris Twells as Kaminak’s CFO. The Company wishes Mr. Twells great success in his future endeavours.

On behalf of the Board of Directors of Kaminak

"Rob Carpenter"

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View News Release in PDF Format

Key Results

 Key Points

• RC drilling at Supremo successfully defines continuous high-grade, near-surface and oxidized gold within moderately plunging zones of the T3 structure.
   
• Future drilling will focus on extending the T3 structure south of section 4325N where the last four consecutive holes yielded 19.9 grams per tonne gold (g/t Au) over 6.1m; 7.9 g/t Au over 12.2m; 10.7 g/t Au over 6.1m and  8.2 g/t Au over 18.3m down to 175m vertical.
   
• New drilling also scheduled for T1 and T2 structures. Diamond drilling at T2 in 2010 yielded 3.73 g/t Au over 16m which remains open along trend. The T1 structure comprises a well-defined gold-in-soil trend that remains untested.
   
• Gold-in-soil data and geophysical / structural interpretations suggest the Supremo gold-bearing structures extend towards the Connector and Latte gold zones, and northwards towards the Macchiato / Cappuccino Zones, for a possible potential strike length in excess of 2.5 kilometres.

Drill Summary

A total of 31 RC holes were drilled along 25m and 50m spaced sections of the T3 structure. All holes were drilled on a 270 degree azimuth (west facing) angled between 50 and 70 degrees. The T3 Zone is characterized by steep east -dipping, oxidized gold mineralization varying in true width from 5m to 30m. Overall, the results confirm the lateral and vertical continuity of the T3 structure along trend. Notably, holes from the most southerly section 4325N consistently returned strong mineralized intervals down-dip to approximately 175m vertical, including 19.9 grams per tonne gold (g/t Au) over 6.1m (CFR-50); 7.9 g/t Au over 12.2m (CFR-51); 10.7 g/t Au over 6.1m (CFR-52) and 8.2 g/t Au over 18.3m (CFR-53). This significant zone of high grade mineralization remains open to the south along strike and at depth. 

On cross-section the T3 structure consistently maps as a steep, east-dipping structure comprised of hydrothermally altered felsic gneiss carrying abundant sericite, clay and pyrite.  An initial longitudinal section has also been constructed along the trace of the T3 structure and interpretations suggest high-grade intercepts may be controlled by a moderate south plunge. These observations have helped focus the 2011 drill plan and provide priority drill targets.  All maps, sections and assay sheets are currently available on the Kaminak website, www.kaminak.com.

Table 1 - Complete Assay Table

*True width estimated at approximately 2/3 core length.  Holes CFR-025, 026, 33 and 047 were abandoned due to poor ground conditions / mechanical issues.

Reverse Circulation (RC) Drill Methods

Kaminak is employing a Northspan Explorations Ltd 'Super Grasshopper' track mounted RC drill rig with capacity to drill to 600ft depth.  The mobile drill is proving highly effective at rapidly testing along strike of existing drill intercepts and beneath previously un-drilled soil and trench anomalies.  The rig utilizes a centre sampling (face sampling) drill bit and auxiliary compressor and booster to deliver clean dry sample.  All drill samples are passed through a riffle splitter to obtain a homogenized and representative 2-3kg sample for assay.  Results of twinning (i.e. drilling immediately adjacent to) existing diamond core holes indicate that the RC method is of comparable quality to the core.  The Company is therefore confident in the employment of RC drilling as a highly effective tool to compliment ongoing diamond core drilling over the Coffee Gold Project. 

QA / QC

Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak's President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly by charter plane to the ALS CHEMEX preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

"Rob Carpenter"

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Key Point Summary

• CFD-90 yields 74.9 grams per tonne gold (g/t Au) over 4m starting at 105m core length. Re-assay checks and duplicate screen-method fire assay sampling of this ultra high-grade interval yielded repeatable results.
• CFD-88 yields 25.4 g/t Au over 2m (from 43m); CFD-81 yields 8.37 g/t Au over 5m (from 73m); CFD-93 yields 12.15 g/t Au over 3m (from 57m); CFD-101 yields 14.35 g/t Au over 2m (from 29m) and CFD-104 yields 56.4 g/t Au over 1m (from 71m)
• Near-surface and high-grade gold intercepts encountered within vertical structural corridor traceable over 200m along trend; remains open in all directions.
• New structural interpretation suggest the Double Double zone represents the easterly high-grade extension of the Latte gold zone located 800m west

Drill Results

The Double Double gold zone was discovered in 2010 by drilling beneath a linear gold-in-soil trend that extends for at least 1km along a west to northwest trend which is also co-incident with a magnetic lineament traceable for several more kilometers, suggesting the gold-bearing structures at Double Double extend for several kilometers and possibly link with the Latte gold zones located 800m west. A total of 11 diamond drill holes were completed along a 200m long portion of the gold-in-soil anomaly in order to follow-up drill results from 2010 that included: 6.35 g/t Au over 35m (starting at 139m core depth) from hole CFD-27 and 15.9 g/t Au over 5m (starting at 213m core length) from hole CFD-28 (see Kaminak news releases dated August 11^th, 2010 and August 24^th, 2010). Complete assay sheets, plan maps and cross-sections of the 2011 drilling are now available on the Kaminak website.

Drill hole CFD-90 yielded an ultra-high-grade intercept between 105m and 109m down-hole (refer to table 1 below). An original 30g fire assay of ½ cut core yielded a weighted average of 69.6 g/t Au over 4m with individual assays yielding 105.5 g/t Au (105-106m), 106 g/t Au (106-107m), 62.7 g/t Au (107-108m) and 4.14 g/t Au (108-109m). In order to validate these results, an additional 1kg sample of this material was taken and screened through a 100 micron mesh and analyzed by fire assay. A third fire assay was completed by screening a 1kg sample obtained by re-cutting the remaining drill core stored on site (1/4 core sampling). Results of both screen assays yielded consistent and repeatable results averaging 74.9 g/t Au over 4m with assays averaging 120.25 g/t Au (105-106m), 98.7 g/t Au (106-107m), 76.4 g/t Au (107-108m) and 4.24 g/t Au (108-109m). Coarse gold (> 100 micron) accounted for only 4-7% in all samples suggesting minimal nugget effect.

Table 1 - Assays from 105-109m for CFD-90 

(FA = fire assay)

Ultra‐high‐grade samples in drill hole CFD090 are characterized by increased breccia and intensely silicified material with no recognizable host rock. Silicified host material is overprinted by (micro) breccia as well as chalcedonic silica vein networks. Sericite is low in the samples, as the overwhelming alteration is silica; minor scorodite, fuchsite and leucoxene. The sulphide content is not unusually high for Coffee gold environments, thus the addition of silica appears to be more important to the increased gold tenor. A representative photo montage of mineralized samples is available on the Kaminak website.

Results suggest gold is hosted in a number of near-vertical to steep north-dipping zones traceable within the broader regional magnetic lineament and gold-in-soil anomaly. These high-grade gold zones are typically meter-scale in width and are recognized mainly by increased levels of hydrothermal alteration. The most consistent and traceable structure defined to date is informally known as the “North Trend” and is noted on all cross-sections drilled. For example, drilling on section 5125E intercepted the North Trend in holes CFD-88 (25.4 g/t Au over 2m) and CFD-90 (74.9 g/t Au over 4m). Moreover, section 5275E cut the North Trend in hole CFD-93 (8.23 g/t Au over 3m) and hole CFD-98 (4.32 g/t Au over 4m) and section 5075E drilled through the North Trend in hole CFD-101 (14.35 g/t Au over 2m) and hole CFD-104 (56.4 g/t Au over 1m). Deeper drilling at Double Double uncovered several parallel zones to the North Trend, including the “Central Trend”; however, since the focus of the drilling was on defining the North Trend, little is known about these deeper zones. Collectively, these observations re-affirm the high-grade and continuous nature of gold within the Double Double zone and also illustrate the importance of tracing high-angle structural corridors.

Drill Update

Over 28,000m of drilling has now been completed on the Coffee property during the 2011 season and the Company is on schedule to complete the 40,000m program as initially outlined in the spring of 2011. Three diamond drills and one reverse circulation drill (RC) are currently active on the property. Assays from Latte (50 diamond holes), Supremo (31 RC holes), and Kona (28 RC holes) are currently pending and initial results from Supremo and Latte are expected in the coming weeks. Two drills are currently operating on the Kona zone (1 diamond drill and 1 RC drill) and one diamond drill is located on Latte and Connector zones respectively.

Kaminak is also pleased to report it has begun construction of a 15km long gravel road that will connect the Coffee Camp and airstrip to the main drill areas of Latte, Connector, Double Double and Supremo. The road is expected to be completed by the end of Q3 of 2011 and will allow the Company to extend future drill seasons and reduce aircraft costs. Summer barge season is in full-swing and heavy equipment (bulldozer, loader and dump truck) have been mobilized to site in order to facilitate road construction. Three bulk fuel tanks (75,000 liter capacity each) are also on site and are currently being installed.

Table 2 - Complete Assay Table

*True width estimated at approximately 2/3 core length.

QA / QC

Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak's President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly by charter plane to the ALS CHEMEX preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

"Rob Carpenter"

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

The first area of focus for the 2011 soil sampling program is the "Sugar Trend"; a consistent 8km x 4km zone of elevated gold-in-soil peaking at 248ppb Au located approximately 20km east-southeast of the known drill discoveries at Coffee.  The gold-in-soil anomaly is underlain by a zone of intermediate to mafic dykes which intrude granite.  Kaminak considers the Sugar Trend to be extremely significant as the scale and tenor of gold-in-soil geochemistry is similar to early sampling over the Coffee core area that produced several gold occurrences such as Supremo and Latte.  Pending favourable soil results, drilling at Sugar is expected to take place in early September 2011.

Lack of glaciation over the Coffee property has allowed in-situ soil-sampling to be employed as a highly effective exploration tool.  All of Kaminak's gold discoveries to date have been found by drilling directly underneath gold-in-soil anomalies.  Approximately 19km of untested soil anomalies are known on the property warranting drill follow-up, and only 10% of the property has experienced systematic grid soil sampling. 

Kaminak has contracted Ground Truth Exploration Inc. of Dawson City, Yukon to complete the 2011 soil sampling program.

Drill Update

Presently, three diamond drills are located at the Latte Zone focused on expansion drilling and targeting the newly discovered high-grade zone of 9.6 g/t Au over 17m and 17.4 g/t Au over 7m (see Kaminak press release June 13^th, 2011).

Reverse circulation (RC) drilling at the Supremo Zone is complete and assays are pending.  The RC drill has now been mobilized to the Kona Zone to follow up the 2010 drill discovery of 2.2 g/t Au over 57m.  The total strike length of the untested Kona gold-in-soil trend exceeds 2km.

Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak's President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. The Coffee property represents an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

"Rob Carpenter"

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Key Drill Results

• CFD-078:  1.11 grams per tonne gold (g/t Au) over 44m starting from 226m
• CFD-080:  2.83 g/t Au over 62m starting at 60m depth, including 17.36g/t over 7m
• CFD-082:  9.61 g/t Au over 17m starting at 109m depth, including 24.50g/t over 3m

Key Point Summary

• CFD-080 and CFD-082 returned the highest grade gold intersections to date at Latte:  9.6 g/t Au over 17m and 17.6 g/t Au over 7m.  The new high-grade zones at Latte represent a significant new style of mineralization. 
• CFD-078 and CFD-080 extended the up- and down-dip continuity on the 2950m East drill section.  Mineralization is interpreted to commence from surface and remains open at 200m vertical depth.
• CFD-082 extended the mineralized zone an additional 100m along strike beyond the western limit of the gold-in-soil anomaly.  2010 and 2011 drilling at Latte has now established gold mineralization over a 700m strike length. 
• Presently, two diamond core drills are turning at Latte; one drill exploring along strike on 100m step-outs to the west, and the other drill completing systematic drill fences and 100m step-outs along strike to the east. 

"Drilling two of the highest grade intervals to date, and outside of the gold-in soil anomaly, are major milestones for the Coffee property," stated Rob Carpenter, Kaminak's President & CEO.  "This significant achievement by our technical team opens up the exploration potential of the Coffee property by allowing us to evaluate completely new target types elsewhere on the property."

The Latte Zone is associated with a regionally-significant, east-west trending structural corridor co-incident with a 1km long by 100m wide gold-in-soil anomaly.  Drilling in 2010 intersected mineralization over a strike length of 600m with intercepts including 1.86g/t over 70m and 1.83g/t over 58m.  The 2011 drilling program aims to extend the mineralization along strike and to depth. 

The new high-grade mineralized zones, intersected over two successive drill sections located 100m apart, represent a highly significant new style of mineralization comprising both low-sulphide, intensely silica-altered schist in addition to high-sulphide grey-blue to white quartz vein breccias exhibiting crackle, mosaic and cockade to plumose textures.  The high-grade intercept in CFD-082 (9.61g/t over 17m) lies 100m beyond the western limit of the Latte gold-in-soil anomaly, thereby confirming that mineralization on the Latte structure is continuous to the west beneath 5-10m of overburden that obscures the detection of the zone at surface via traditional soil sampling.  Geophysics and drill data suggest the Latte structure continues for at least another 800m to the west of the soil grid as demonstrated by a 2010 drill hole (CFD-061), located 800m to the west of CFD-082, which intersected 3.04g/t over 6m. 

Ongoing drilling at Latte will continue to focus on extending the strike length and depth extent, with two diamond core drills currently drilling. 

Assay Table

*true width is estimated at 70-100% of core length

A detailed plan map, cross-sections, assay sheet and photo montage of select core samples is available on the Kaminak website at www.kaminak.com. 

QA/QC

Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak's President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly by charter plane to the ALS CHEMEX preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

"Rob Carpenter"

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Supremo is comprised of a 2km by 2km gold-in-soil anomaly, which hosts at least 7 parallel gold-bearing structures (named T1 to T7) that each extend along trend for several hundred metres. Diamond core drilling on the T3 structure in 2010 by Kaminak identified high-grade oxidized gold mineralization in widely-spaced drill holes. The primary objective of the ongoing RC drilling is to confirm the continuity of the 2010 results.

Key Point Summary:

• Results confirm lateral and vertical continuity of the T3 structure. Key intercepts include: 2.5 g/t Au over 27m; 10.4 g/t Au over 6m; 6.1 g/t Au over 9m; 4.5 g/t Au over 16.8m and 2.3 g/t Au over 24m
   
• Current drilling is focused on tracing the high-grade T3 structure along trend to the south where the most encouraging grades and widths have been encountered to date
   
• Track-mounted RC drilling is proving to be an effective and cost efficient method of systematically testing widespread gold-in-soil anomalies. Kaminak is in the process of securing a second RC drill in addition to the current rig on-site
   
• The 2011 exploration season at Coffee is now in full swing with a total of 4 drills currently turning, including three diamond drills and one RC drill. Diamond drills are now testing the Latte and Double Double Zones
   

Supremo Drill Summary

A total of 16 RC holes were drilled across a 100m strike length of the T3 structure (25m to 50m spaced sections) and an additional 6 RC holes tested select parts of the nearby T4 and T5 structures. All holes were drilled on a 270 degree azimuth (west facing) angled between 50 and 70 degrees. Soil geochemistry combined with 2010 drill results indicate the T3 structure is north-south trending and extends for at least 600m along trend.

The Supremo Zone is characterized by steep east -dipping, oxidized gold mineralization varying in true width from 5m to 30m. Overall, the results confirm the lateral and vertical continuity of the T3 structure along trend. Notably, holes from the most southerly sections (4500N and 4525N) consistently returned strong mineralized intervals down-dip to approximately 100m vertical. Sections drilled indicate that mineralization comes to surface and remains open at depth. For example, hole CFR-003 returned 2.5 g/t Au over 27m core length and the T3 mineralized zone remains open at 90m vertical.

Current drilling is focused on continuing follow-up drilling towards the south in order to explore the extent of this mineralization.

Assay Table

*Holes CFR-001 and -002 were twins of diamond core holes drilled in 2010 (see details below).
Additional Notes: The RC drill rig utilizes 5ft rods, with one sample collected per rod length for assay. Rod length ‘From’ and ‘To’ depths are converted to metric to be consistent with other drill data within the Coffee Project Drill Database, thus each 5ft sample interval is calculated to be 1.52m length. All holes were drilled at -50° to -60° dip angle. True widths are estimated at 60-80% of drill intercept length.

Detailed plan maps, cross-sections, and assay sheets of RC holes at Supremo, including comparatives between twinned RC and diamond holes are available on the Kaminak website at www.kaminak.com

Reverse Circulation (RC) Drill Methods

Kaminak is employing a Northspan Explorations Ltd ‘Super Grasshopper’ track mounted RC drill rig with capacity to drill to 600ft depth. The mobile drill is proving highly effective at rapidly testing along strike of existing drill intercepts and beneath previously un-drilled soil and trench anomalies. The rig utilizes a centre sampling (face sampling) drill bit and auxiliary compressor and booster to deliver clean dry sample. All drill samples are passed through a riffle splitter to obtain a homogenized and representative 2-3kg sample for assay. Results of twinning (i.e. drilling immediately adjacent to) existing diamond core holes indicate that the RC method is of comparable quality to the core. The Company is therefore confident in the employment of RC drilling as a highly effective tool to compliment ongoing diamond core drilling over the Coffee Gold Project. Kaminak is currently seeking a second RC drill to add to the 2011 program in order to maximize the number of targets able to be drilled during this current field season.

QA/QC

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill sample string. Samples are placed in sealed bags and shipped directly by charter plane to the ALS CHEMEX preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Reverse circulation (‘RC’) drilling is underway at the Supremo Zone testing the ‘T3 Trend’, where gold mineralization was established over a 1.7km strike length from widely spaced diamond drilling undertaken during 2010.

2010 drill highlights from the T3 Trend include:

17.1 g/t Au over 16m (CFD-1)
12.4 g/t Au over 14m (CFD–16)
3.3 g/t Au over 17m (CFD-3)
1.2 g/t Au over 51m (CFD-23)

All mineralization at Coffee commences from surface and is open along strike and at depth.

The RC drill is a track mounted unit designed to rapidly test along strike of existing gold drill intercepts and beneath previously un-drilled soil and trench anomalies. The mobility of the RC drill will enable Kaminak to quickly and effectively test the extensive mineralized trends at Coffee to a down-hole depth of 200m.

In addition to the RC Drill which has commenced drilling, two diamond core drills are scheduled to begin drilling in approximately two weeks at the Latte and Double Double Zones. A third diamond drill will be mobilized to Coffee by mid-May.

The Coffee Gold Project Phase One exploration program is budgeted at $15 million and includes 40,000 metres of drilling from four drills (three diamond drills and one RC drill), geophysics and the collection of 10,000 new soil samples in previous unexplored regions of the property. The key objectives for the 2011 drill program are to:

1. Expand and define geometry on the 8 gold zones discovered in 2010
    
2. Work towards National Instrument 43-101 compliant inferred resources on priority zones
    
3. Continue to discover new gold zones across the Coffee property by drill testing high-quality soil anomalies

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. The Coffee property represents an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Garth Kirkham

Mr. Kirkham obtained a Bachelor's degree in Science from the University of Alberta in 1983.  He established Kirkham Geosystems in 1997, which specializes in 3D computer modeling and resource / reserve estimations at the preliminary assessment, pre-feasibility and feasibility study stages of mining projects.  In addition, he is the Chair of Geological Society of the Canadian Institute of Mining and is Councillor for APEGBC. In 2010, Garth was awarded the Sproule Memorial Plaque by the CIM for his long-term commitment to projects in the North.

Sean Mager did not run for appointment to the Board. He was one of Kaminak’s earliest Directors, and the Company wishes to thank him for his work on the Board and wishes him well in all his future endeavors.

Stock Options Grant

Kaminak Gold Corporation's Board of Directors has granted an aggregate of 1,205,000 stock options, subject to regulatory approval, to an Insider of the Corporation. The options will have an exercise price of $4.03 per common share, with a hold period of four months and will expire on April 8th, 2016.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

During the third quarter of 2010, Kaminak commissioned SRK Consulting (Canada) Inc. (“SRK”) to visit the property, review and audit the exploration and metallurgical work undertaken by Kaminak, and to prepare an independent technical report following the guidelines of the Canadian Securities Administrators National Instrument 43-101 and Form 43-101F1. SRK reviewed and audited the exploration and metallurgical data available for the Coffee Project.

The reported titled “Technical Report, Coffee Gold Project, Yukon Territory, Canada” will be filed on Sedar and can be viewed on the Sedar website, www.sedar.com, Kaminak website, www.kaminak.com or by simply clicking the following link:

http://kaminak.com/_resources/Kaminak_Coffee_Technical_Report_3CK008_000.pdf

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. The Coffee property represents an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com.

Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Key Points:

• Gold Recovery ranged from 96.3% to 98.5%, with average recoveries of 97.6% from CIL and 97.1% from CIP.
   
• No indications of refractory or coarse gold.
   
• Future testing will encompass other gold zones, transitional and fresh rock material, and experimentation of grind size, flotation and cyanidation to determine the optimum processing path. 

Metallurgical test work was conducted on samples of pre-crushed bulk coarse residue material left over from assaying.  Two composite samples were produced comprising a 41kg sample grading 4.0g/t Au from Supremo, and a 49.8kg sample grading 2.5g/t Au from Latte.  The samples were derived from down hole core depths of 15m to 133m from Supremo, and 45m to 68m from Latte.  Surface oxidation due to weathering at Coffee averages 75m below surface at Latte, and extends up to 150m below surface on mineralized fault zones at Supremo.  The majority of mineralization encountered to date at Coffee is oxidized. 

Test work included several conventional processing options including conventional 72 hour bottle-roll cyanidation, carbon in leach (CIL) and carbon in pulp (CIP).  Gold recoveries were as follows:

Future metallurgical testing will encompass a comprehensive suite of samples from additional mineralized zones and depths within the oxidation profile and low and high grade styles of mineralization.  In addition, the impact of grind size on cyanidation tests, sulphide flotation to reduce leaching requirements and potential of heap leaching oxide material will also be investigated. 

The metallurgical test work was completed by Inspectorate Exploration and Mining Services Ltd. of Vancouver, B.C., under the supervision of Starkey & Associates Inc. and SRK Consulting (Canada) Inc. Kaminak is currently finalizing a NI 43-101 Coffee Technical Report, which will contain details of the metallurgical test work.  Upon completion, this report will be announced and filed on Sedar and the Kaminak website.

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. The Coffee property represents an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Key objectives for Kaminak’s 2011 program:

1. Expand and define geometry on the 8 gold zones discovered in 2010 
    
2. Work towards National Instrument 43-101 compliant inferred resources on priority zones
    
3. Continue to discover new gold zones across the Coffee property by drill testing high-quality soil anomalies

“Our goal is to ultimately define near-surface gold resources across the vast property,” stated Rob Carpenter, Kaminak’s President & CEO.  “Our strategy of drilling beneath in-situ gold-in-soil trends led to 8 drill discoveries in 2010, and to date, only 10% of the property has been systematically explored.” 

The Company has developed the following strategy and timeline to complete the Phase One Exploration Program consisting of up to 40,000 metres of drilling (four drills), collection of 10,000 soil samples and ground geophysical orientation surveys over priority areas.  A detailed plan illustrating proposed drill hole locations is available on the Kaminak website at www.kaminak.com.  The company expects the drilling season to begin in April and run continuously through to at least October.

• April 2011:      Aggressive expansion drilling programs commence at Latte, Supremo, Double Double and Connector gold zones. 
   
• June 2011:       Soil Sampling commences at Coffee and regional targets including the new Sugar trend.
   
• July 2011:        Kona, Americano and Espresso aggressive expansion drilling programs. Commencement of Phase Two infill drilling as needed.

• Sept 2011:       Drill test new targets including Sugar, Macchiato, Americano West and Cappuccino. 

Ground geophysical surveys will commence in early April starting with orientation surveys over known gold zones with the aim to detect the geophysical signature of gold mineralization.  Initial methods will comprise Horizontal Loop Electromagnetic (‘HLEM’), OhmMapper and Induced Polarization (“IP”) surveys with the aim to detect gold mineralization along trend and at depth.

Drilling is planned to commence on Supremo-Latte-Double Double-Connector gold trends in mid-April and will comprise up to 30,000 metres of diamond core and reverse circulation (RC) percussion drilling.  These zones all come to surface and occur within close proximity of each other and represent the highest priority targets known to date.  Drilling will focus on expanding the known mineralized structures along trend and at depth.  It is anticipated that this phase of the drill program will be completed by late June, thereby, allowing a mid-season review of the results to date and a decision on ‘Phase Two’ infill drilling.  The remainder of the Phase One drilling will be allocated to the Kona-Americano-Espresso zones as well as exploration drilling of new and untested gold-in-soil-trends.

Since only 10% of the Coffee property has been systematically soil sampled, the company believes new priority drill targets will be generated through additional soil sampling.  Beginning in June a total of 10,000 soil samples will be collected by Ground Truth Exploration Inc. across the Coffee property and initial results will be expected by July 2011.  The soil sampling programs will seek extensions to the existing high tenor gold-in-soil anomalies at Coffee, and also comprise of systematic grid sampling over the newly defined ‘Sugar’ gold-in-soil anomaly and comprehensive first pass ridge-line soil sampling across the Coffee Property. Drilling of any of new anomalies could be completed as early as August.

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. The Coffee property represents an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Vancouver, British Columbia – Kaminak Gold Corporation (KAM: TSX-V) (“Kaminak” or the “Company”) is pleased to announce that it has today closed the previously announced bought deal private placement financing (the “Offering”). The Company has issued 1,917,050 common shares (the “Common Shares”) at a price of C$3.00 per common share and 1,597,350 common shares which qualify as “flow-through” shares for purposes of the Income Tax Act (Canada) (the “Flow-Through Shares”) at a price of C$3.60 per flow-through share for aggregate gross proceeds of C$11,501,610. The common shares and flow-through shares are collectively referred to herein as the “Offered Securities”.

The Offering was co-led by Paradigm Capital Inc. and Canaccord Genuity Corp. and included Fraser Mackenzie Limited (the “Underwriters”). The Underwriters received a cash commission of 6% of the gross proceeds raised through the Offering and warrants (“Broker Warrants”) equal to 6% of the number of Offered Securities sold in the Offering. Each Broker Warrant shall be exercisable to acquire one common share of the Company at an exercise price of C$3.60 for a period of 24 months from closing. Securities issued under the Offering are subject to a hold period which will expire four months and one day from the date of closing, being July 4, 2011.

The Company intends to use the net proceeds of the Offering to conduct exploration activities on its Coffee project located in the White Gold District, Yukon, and for general corporate purposes.  This news release contains certain forward-looking statements including with respect to use of proceeds by the Company and exploration activities on its properties, and such statements involve risks and uncertainties. The results or events predicted may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results, or any other occurrence.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Vancouver, British Columbia – Kaminak Gold Corporation (KAM:TSX-V) (“Kaminak” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Paradigm Capital Inc. and Canaccord Genuity Corp. and including Fraser Mackenzie Limited (the “Underwriters”), to sell 1,667,000 common shares (the “Common Shares”) of the Company at a price of C$3.00 per Common Share and 1,389,000 common shares which qualify as “flow-through” shares for purposes of the Income Tax Act (Canada) (the “Flow-Through Shares”) at a price of C$3.60 per Flow-Through Share for aggregate gross proceeds of C$10,001,400 (the “Offering”). The Common Shares and Flow-Through Shares are collectively referred to herein as the “Offered Securities”.

In addition, the Company has granted the Underwriters an option (the “Over-Allotment Option”), exercisable at any time up to 48 hours prior to the closing of the Offering, to purchase from the Company up to such number of additional Common Shares equal to 15% of the Common Shares sold in the Offering at C$3.00 and additional Flow-Through Shares equal to 15% of the number of Flow-Through Shares sold in the Offering at C$3.60.

The Company intends to use the net proceeds of the Offering to conduct exploration activities on its Coffee project located in the White Gold District, Yukon, and for general corporate purposes.

Closing of the Offering is anticipated to occur on or before March 3, 2011 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. Securities issued under the Offering and through the Over-Allotment Option will be subject to a four month hold period which will expire four months from the date of closing.

The Underwriters will receive a cash commission equivalent to 6% of the gross proceeds raised including any proceeds from the exercise of the Over-Allotment Option, and share purchase warrants entitling the Underwriters to purchase, within 24 months after closing of the Offering, common shares equal to 6% of the Offered Securities sold pursuant to the Offering at a price of C$3.60.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”
Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Key Points:

• April 15, 2011 start date expected for a program of 40,000m – 45,000m of core and reverse circulation drilling from 4 drills.  The key objective will be to establish a National Instrument 43-101 compliant resource on priority zones.

• Each of the 8 gold zones discovered by Kaminak in 2010 will receive follow-up drilling in 2011, and newly-defined, high-quality, gold-in-soil anomalies, such as Americano West, Macchiato, and the newly recognized Sugar, will also be drill tested.  The Sugar trend is located 35km east-southeast from Americano West.

• Initial emphasis will be on expanding the Latte – Double Double – Supremo gold trends.  Each of these gold zones begin at surface and remain open in all directions.

• Up to 10,000 soil samples will be taken across the property including extensions to the existing high tenor anomalies at Coffee, systematic grid sampling over the newly defined Sugar trend gold-in-soil anomaly, and comprehensive first pass ridge and spur soil sampling across the remainder of the Coffee Property.

“Our initial drilling in 2010 successfully outlined 8 significant gold zones demonstrating that the Coffee property is a very robust, large-scale hydrothermal system endowed with gold,” stated Rob Carpenter, Kaminak’s President & CEO.  “Our 2011 drill strategy is threefold:  expand the 8 significant gold zones discovered in 2010, work towards compliant resources on priority zones, and make new additional gold discoveries across our vast property by drill testing high-quality soil anomalies.”

In 2010, Kaminak executed the first ever drill program on the Coffee Gold Project and drilled 8 separate and closely-spaced gold discoveries within a 10km strike length.  Discovery holes include:  

CFD001 Supremo Zone 15.5m @ 17.1 g/t Au
CFD006 Latte Zone 83.93m @ 1.08 g/t Au
CFD027 Double Double Zone 35m @ 6.3 g/t Au
CFD053 Kona Zone 56.75m @ 2.21 g/t Au and 23m @ 1.92 g/t Au
CFD064 Americano Zone 18m @ 2.36 g/t Au
CFD069 Connector Zone 11m @ 5.5 g/t Au

Lack of glaciation over the Coffee property has allowed in-situ soil-sampling to be employed as a highly effective exploration tool.  All of Kaminak’s gold discoveries to date have been found by drilling directly underneath gold-in-soil anomalies.  Approximately 19km of untested soil anomalies are known on the property and these targets will also be drill tested in 2011.  Moreover, only 10% of the property has seen systematic grid soil sampling.  Kaminak intends to take up to 10,000 soil samples targeting extensions to the existing high tenor anomalies at Coffee, systematic grid sampling and diamond drilling over the newly defined Sugar trend gold-in-soil anomaly, and comprehensive first pass ridge and spur soil sampling across the remainder of the Coffee Property.

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. The Coffee property represents an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”
Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

“I am extremely happy to have Tim move into the new role of VP Exploration. In the past year, he has proven himself as someone who can see the big picture yet also have the ability to stay on top of the details needed to run a large exploration program,” stated Rob Carpenter, Kaminak’s President and CEO, “His experience in leading geological teams from initial discovery through resource extension, definition and feasibility to eventual mining, will be invaluable to the Company.”     

Timothy Smith

Tim has over 15 years experience in mineral exploration and mining, having graduated with a M.Sc. in Geology in 1994 from the University of Canterbury, New Zealand.  The first part of his career was spent with a major gold miner in the Archean Yilgarn Craton of Western Australia, where he was part of a team which discovered and developed two stand-alone gold mines in the greenstone belts of the Eastern Goldfields.   

In 2000, he subsequently moved into the junior exploration sector with Tanami Gold NL.  Starting as Project Geologist and working his way up to Geology Manager, Tim headed up all geological functions across the Company.  In this role, Tim was responsible for the exploration of a major landholding (up to 70,000km2) and the resource development and eventual mine geology of the Coyote Gold Project, which is now Australia’s most remote operating open cut and underground gold mine.  As an offshoot to Tanami Gold, Tim also led the geology team for Jabiru Metals Ltd during the bankable feasibility study into the VHMS Cu-Zn-Ag Jaguar Deposit, which is also now an operating underground mine. 

Stock Options Grant

Kaminak Gold Corporation's Board of Directors has granted an aggregate of 200,000 stock options, subject to regulatory approval, to an Insider of the Corporation. The options will have an exercise price of $2.76 per common share, with a hold period of four months and will expire on December 9th, 2015.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Key Point Summary:

• The Americano gold-in-soil trend extended an additional 2.5km along strike, including a new gold trend named “Americano West”, which represents a new drill target and remains open along trend to the west and south. 
   
• A significant new gold-in-soil geochemical trend identified 20km southeast of the Supremo Zone, named the “Sugar Trend”, comprising a consistent 8km x 4km zone of elevated gold-in-soil. 
   
• A new gold-in-soil geochemical anomaly located on the “Apollo Property”, 25km northwest of Coffee.  

“Systematic soil sampling of the Coffee Property continues to uncover numerous high-priority drill targets over a distance of at least 30km,” stated Rob Carpenter, Kaminak’s President and CEO. “Drill testing of soil targets in 2010 resulted in several high-grade gold discoveries and as a result will remain an effective exploration tool.” 

Americano Soil Sampling

During the 2010 summer field season Kaminak collected almost 10,000 soil samples across the Coffee Property, including an extension of the existing grid pattern sampling.  The Company previously announced a major extension of the previously identified gold trends at Coffee (August 9 2010;  ‘Kaminak Identifies Three New Kilometre-Scale Gold Soil Trends on the Coffee Property: Priority Targets to be Drilled in Current Field Season’), including discovery of the major new Americano Trend. 

A further extension of the Coffee soil grid in the latter part of the field season has resulted in an additional 1km extension to the Americano North gold soil trend and the identification of the new “Americano West” gold-in-soil trend located 1km west of Americano, and covering an area of approximately 1.5km x 1km with values up to 484ppb Au.  Kaminak considers these results to be highly significant as drilling of soil targets to date has resulted in several bedrock gold discoveries.  The Company therefore plans to drill test the Americano West area in 2011 and also undertake further grid soil sampling extensions to the Americano West gold trend which remains open along trend to the west and south. 

Sugar Soil Sampling

In addition to the grid sampling over Americano, the Company undertook a major program of first-pass ridge and spur soil sampling over its 100% owned Coffee Property, which resulted in numerous zones of elevated gold-in-soil being identified.  In particular, a significant new gold trend was identified, named the “Sugar Trend”, comprising a consistent 8km x 4km zone of elevated gold-in-soil peaking at 248ppb Au, located in the headwaters of Excelsior Creek approximately 20km east-southeast of the Supremo Zone at Coffee.  The gold-in-soil anomaly is underlain by a zone of intermediate to mafic dykes which intrude granite. 

The Company considers the Sugar trend to be extremely significant as the scale and tenor of gold-in-soil geochemistry is similar to early sampling over the Coffee Gold Deposit area.  The Company plans to undertake grid pattern soil geochemical sampling over the Sugar Trend in 2011 in addition to further step-out ridge and spur sampling over the remainder of the Coffee Property, 30% of which is unexplored by first-pass prospecting. 

In addition to soil sampling on the Coffee Property, Kaminak also undertook first pass ridge and spur soil sampling on selected regional targets on its 100% owned landholdings throughout the Dawson Range district.  Encouraging results were returned from the “Apollo Project” located 25km northwest of Coffee, with elevated gold-in-soil values up to 73ppb Au.  The Company plans to conduct further systematic work at Apollo in 2011. 

A detailed plan map showing the location of the new gold in soil trends is available on the Kaminak website at www.kaminak.com.

QA/QC

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo.  Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101.  Samples were collected by Ground Truth Exploration Ltd., of Dawson City, Yukon.  Quality assurance and quality control procedures include the systematic insertion of field duplicates into the sample batch.  Samples are placed in sealed bags and shipped directly by charter plane and road freight to the Acme Analytical Laboratories Ltd preparatory laboratory in Whitehorse prior to aqua regia digestion and ICP-MS analysis.  The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101. 

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Key Point Summary:

• Nine of the ten holes drilled at Americano successfully intersected gold mineralization.  Key intercepts include 2.36 g/t Au over 18m from CFD-64 and 6.53 g/t Au over 3m from CFD-55.

• The discoveries at Americano and at the previously announced Kona Zone are both hosted in granites; the primary host rock in the western and southern portion of the Coffee property.  The gold-bearing potential of these rocks has been validated and will be a key focus of next year’s program.    

• Latte Extension (B52 Zone) drill hole CFD-61 successfully intersected rocks correlated with the Latte shear zone and extends the Latte Zone 900m to the west.  Highlights include:  3.04 g/t Au over 6m including a high-grade interval of 10.25 g/t Au over 1m.   

 “Our 2010 drill program was the first ever drilling on the Coffee property, and we successfully intersected significant near-surface gold over a distance exceeding 10 kilometers, resulting in a half dozen bona fide gold discoveries,” stated Rob Carpenter, Kaminak’s President and CEO. “Our exploration philosophy of drilling below high-quality gold-in-soil anomalies is delivering results, and with only 10% of the property systematically soil sampled, we expect to continue to generate additional gold targets.”

Americano and Espresso Zones

The Americano area is underlain by granite and comprises two parallel northeast trending linear gold-in-soil trends totaling over 4km in length. These two trends become linked to the east by a north by northeast trending gold-in-soil anomaly informally known as the Americano “link” structure. This link structure is at least 700m long. A total of 10 widely-spaced holes were drilled at Americano in order to test for the presence of steeply-dipping gold-bearing brittle structures analogous to the nearby Kona gold zone where CFD-53 returned 2.2 g/t Au over 57m (see Kaminak news release dated October 12, 2010).

Nine of the ten holes drilled at Americano successfully intersected gold mineralization hosted in sulphidic and clay altered brittle fault zones cross-cutting granite. Notable intercepts occur in the north by northeast trending “link” structure where four holes were drilled over 300m.  All four holes intersected significant gold mineralization including 2.36 g/t Au over 18m from CFD-64 and 6.5 g/t Au over 3m from CFD-55. Gold zones at the link structure remain open at depth and along trend. The interpreted length of the entire gold-in-soil trend at the Americano link area exceeds 700m.

Three holes were drilled into the Espresso gold-in-soil trend located approximately 1km south of Americano link structure and 1.5 kilometers southeast of the Kona gold zone discovered earlier in 2010. Two of the three holes successfully intersected gold-bearing granitic host rocks characterized by clay and sulphide alteration including CFD-70 that yielded 1.36 g/t Au over 8m.

Latte Extension (B52 Zone)

Initial drilling at the Latte Zone by Kaminak in 2010 successfully intersected gold mineralization in all 17 holes over a strike length of at least 600m. Ground magnetic data acquired over the Coffee property suggests the main structural feature that hosts gold mineralization at the Latte Zone extends well beyond the limit of drilling in 2010. To test this theory, Kaminak drilled a “wildcat” step-out exploration hole 900m west of the Latte Zone in order to intercept the projected extension of the Latte gold mineralization in a region informally labeled the “B52 Zone”.

Drill hole CFD-61 was drilled to the north at a -50 degree angle and successfully intersected rocks correlated with the Latte shear zone located 900m to the east.  Three discrete gold zones were intersected over a core length of approximately 32m (starting at 85m depth).  Highlights include 3.04 g/t Au over 6m including a high-grade interval of 10.25 g/t Au over 1m. Mineralization is interpreted to occur within an east-west trending and steep south-dipping shear zone structure believed to be the extension of the Latte gold structure. This result confirms that the gold-bearing structure at Latte continues well beyond the limits of Kaminak’s 2010 drilling and future exploration work in this area will focus on expanding these zones.

Drill Results

*true widths are estimated at 50-70% of core length

Detailed plan maps, cross-sections, and assay sheets of Americano, Espresso and Latte Extension holes are available on the Kaminak website at www.kaminak.com

QA/QC

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly by charter plane to the ALS CHEMEX preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

“Latte North Zone” Yields 2.63 g/t Au over 13m (incl. 11 g/t Au over 2m)

November 16, 2010

Vancouver, B.C. – Kaminak Gold Corporation (KAM: TSXV) today announced additional significant drill discoveries on the Company’s 100% owned Coffee property, located in the White Gold District, Yukon Territory. Drilling of separate gold-in-soil anomalies in the Latte area resulted in the identification of two new gold trends known as the “Latte North Zone” and the “Connector Zone”.  Latte North occurs 200m north of the known Latte Zone and Connector occurs 800m east-northeast of Latte. All zones begin at surface and remain open along trend and at depth. 

Key Point Summary:

• Two new gold zones discovered on the Coffee property known as “Connector” and “Latte North”
   
• Connector Zone yielded grades up to 5.5 grams per tonne gold (g/t Au) over 11m and Latte North Zone up to 2.63 g/t Au over 13m
   
• The Connector Zone represents a new zone of significant gold mineralization at the intersection between the Supremo and Latte mineralized corridors, and highlights potential for considerable increase in strike length of the Supremo T3 Trend.     
   
• Assays are pending for drill holes on the nearby Americano and Espresso targets, as well as structural trends between Kona and Latte.

 “These new results demonstrate the Latte-Supremo area has the potential to host a number of closely spaced and near surface gold zones,” stated Rob Carpenter, Kaminak’s President and CEO. “Expanding and defining these targets will clearly become high-priority for the upcoming 2011 drill program.”

Connector Zone

The Connector Zone is named for the interpreted intersection of the Latte and Supremo mineralized trends, when projected along strike towards the east and south respectively.  This intersection zone is interpreted to be prospective for gold mineralization and was targeted initially for follow-up detailed grid soil sampling on 25m x 25m spacing.  The soil sampling subsequently defined a broad 500m x 450m soil anomaly peaking at 460ppb Au. 

Three holes were drilled to test the bedrock source of the broad gold in soil anomaly, on two orientations: 

• CFD-69 and 71 were drilled from the same set-up at -50° and -70° inclination towards the west to target the projected southerly strike extension of the north-south trending Supremo T3 mineralized corridor. 
   
• CFD-73 was drilled at -50° towards the north to target the projected westerly strike extension of the east-west striking Latte mineralized corridor. 

The Connector Zone drilling intersected lithological sequences typical of the Supremo and Latte Zones, comprising felsic augen gneiss, biotite-schist and discrete mylonite (shear) zones.  In CFD-69 & 71, gold mineralization occurs within two discrete steeply-dipping zones of elevated gold with widths up to 50m (see cross-section for Connector Zone on Kaminak website).  Significant gold grades, including up to 5.50g/t over 11 metres in CFD-69, are associated with sulphidic and strongly silica + clay altered, sheared and brecciated mafic schist and andesite dykes.  The gold mineralized zones intersected in CFD-69 and 71 are interpreted to project to surface, and remain open along strike and at depth. 

The Connector Zone represents a new zone of significant gold mineralization at the intersection between the Supremo and Latte mineralized corridors, and highlights potential for considerable increase in strike length of the Supremo T3 Trend.  Soil geochemistry suggests that the gold structures intersected in CFD-69 and 71 lie along trend of the north-south striking Supremo T3 gold discovery which is located >1000 metres to the north, thereby providing considerable scope to identify additional gold mineralization within this structural corridor.  Therefore, the total strike length of the Supremo T3 Trend could extend up to 2 kilometres.  Follow-up drilling planned for the 2011 drill season will consist of drill fences across the Connector Zone to define the mineralized structures, and step-out drilling along strike to test continuity and delineate the intersection with the east-west Latte Zone. 

Latte North Zone

The Latte North Zone comprises a discrete 500m long ENE-WSW striking gold in soil trend located 100-300 metres north of the previously delineated east-west striking Latte Trend.  Drilling comprised two holes from a single set-up drilled at -50° and -70° inclination towards the north.  The holes intersected lithological sequences typical of the Latte Zone, dominated by biotite schist. 

Gold mineralization occurs within a discrete steeply-dipping zone of elevated gold with true width of 5 metres (see cross section for Latte North on Kaminak website).  Significant gold grades, including up to 2.63g/t over 13 metres in CFD-60, are associated with strong limonite after oxidation of sulphides, and strong silica + clay alteration hosted within sheared and fractured biotite schist with minor breccia zones.  Mineralization is interpreted to extend to surface and remains open along strike and at depth.

The relationship between the Latte and Latte North Trends is unknown at the present time.  Nonetheless, this new discovery illustrates the potential for additional gold zones in the Latte area.  Follow-up drilling is planned for the 2011 field season to test for potential strike and depth extensions. 

Drill Results

*true widths are estimated at 50-70% of core length

Three additional holes were drilled in the Latte-Supremo area in order to test nearby lower priority and unnamed gold-in-soil trends. Drill holes CFD-65 and CFD-75 were drilled 400m south and 800m southwest respectively of the Supremo Zone, and drill hole CFD-67 was collared 350m south of the Double Double Zone.  Drilling successfully intersected highly deformed and altered shear zone rocks however only weakly anomalous gold values were obtained.  No further drilling will be completed on these targets. 

Detailed plan maps, cross-sections, and assay sheets of Latte North and the Connector Zone are available on the Kaminak website at www.kaminak.com

QA/QC

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly by charter plane to the ALS CHEMEX preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

The Offering was led by Canaccord Genuity Corp. and included Fraser Mackenzie Limited and Paradigm Capital Inc. (the “Underwriters”).  The Underwriters received a cash commission of 6% of the gross proceeds raised through the Offering and warrants (“Broker Warrants”) equal to 6% of the Shares issued through the Offering.  Each Broker Warrant shall be exercisable to acquire one common share of the Company at an exercise price of $3.60 for a period of 24 months from closing.  Securities issued under the Offering are subject to a hold period which will expire four months and one day from the date of closing, being March 17, 2011. 

The Company intends to use the proceeds of the Offering to conduct exploration activities on its Coffee project located in the White Gold District, Yukon.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The Company intends to use the net proceeds of the Offering to conduct exploration activities on its Coffee project located in the White Gold District, Yukon.

Closing of the Offering is anticipated to occur on or before November 16, 2010 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.  Securities issued under the Offering and through the over-allotment option will be subject to a four month hold period which will expire four months from the date of closing. 

The Underwriter will receive a cash commission equivalent to 6% of the gross proceeds raised, and non-transferable share purchase warrants entitling the Underwriter to purchase, at a price of CDN$3.60 within 24 months after closing of the Offering, common shares equal to 6% of the aggregate number of securities sold pursuant to the Offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This news release is not for distribution to United States news wire services or for dissemination in the United States.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”
Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269 , directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Key Point Summary:

• New gold zone discovered on the Coffee property known as “Kona” where drilling intersected two separate gold zones grading 2.2 grams per tonne gold (g/t Au) over 57m and 1.9 g/t Au over 23m, respectively
   
• Gold grades as high as 28 g/t Au over 2m
   
• Total strike length of untested Kona gold-in-soil trend exceeds 2km
   
• Mineralization at Kona is associated with a regional-scale ENE-trending structural corridor which also trends through the nearby Espresso anomaly
   
• Alteration and sulphide/oxide characteristics at Kona are similar to those at other known gold occurrences at Coffee, suggesting a common mineralizing event
   
• Assays are pending for drilling on the nearby Americano and Espresso targets as well as additional holes from the Supremo-Latte area
   
• On Wednesday, October 13th at 12:45pm Pacific Time, Rob Carpenter, Kaminak’s President & CEO, will be presenting the Coffee Gold Project discoveries to the Vancouver Mineral Exploration Group (MEG).  For those who cannot attend this industry event, the presentation will be aired live through a webcast.  To view the event, please visit the Kaminak website, www.kaminak.com on the designated date and time and click on the link on the home page.

“We have now successfully intersected four major gold zones on the Coffee property over a total distance exceeding 5km.  These results clearly establish potential for Coffee to become a significant gold camp,” stated Rob Carpenter, Kaminak’s President and CEO. “Kaminak has started to plan a much larger exploration program for 2011 and details will be announced once all results from 2010 are processed.”

Kona Zone

Drill testing the extensive gold-in-soil anomalies at Kona has yielded a new gold mineralizing environment in the Coffee exploration camp (i.e. granite-hosted). Gold mineralization is hosted in near-vertical brittle structural zones that are co-incident with overlying gold-in-soil anomalies. Drill holes CFD-51 and CFD-53 were drilled from the same set-up at -50 and -70 degree angles, respectively, and both holes intersected two separate gold zones which are interpreted as steeply-dipping zones within the host structure.

The granite that underlies the Kona area is equigranular, non-magnetic and composed of plagioclase, K-feldspar, quartz, biotite and hornblende. Alteration typically consists of clay, sericite and limonite.  The limonite yields down hole to coarsely-banded sporadic limonite-pyrite transition material to deeper pyrite-dominant rocks at approximately 110 meters.  Thus the depth of oxidation is approximately 110 m (down hole). Sulphides are dominated by pyrite which commonly replaces mafic minerals, and also occurs as veins/veinlets or fracture fill, and in sulfidic-matrix fault breccias.

Kona Drill Results

*true widths are estimated at 50-70% of core length

A total of six holes were also completed on regional targets located north and east of Kona. This drilling targeted a regional-scale, northwest trending shear zone interpreted as a possible extension of the Latte shear zone located 3km to the southeast. Drilling successfully intersected highly deformed and altered shear zone rocks that separate granite to the south from schist/gneiss to the north.  Gold values (1-3 g/t Au) were obtained in four of the six holes thereby confirming the gold potential of the Latte structure well beyond the previously known limits.

Detailed plan maps, cross-sections, and assay sheets of Kona and the regional holes as well as a photo montage of select core samples are available on the Kaminak website at www.kaminak.com

QA/QC

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly by charter plane to the ALS CHEMEX preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.