Kaminak Gold Corporation
TSX VENTURE : KAM

Kaminak Gold Corporation

November 16, 2009 08:30 ET

Kaminak Announces Surface Gold Discoveries from the Newly-Recognized Latte Trend; Coffee Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2009) - Kaminak Gold Corporation (TSX VENTURE:KAM) is pleased to announce additional trench assays from the Company's 100% owned Coffee Property located in the Yukon White Gold District. Results reported here are from the newly-recognized Latte Zone and are in addition to high-grade trench results previously released from the Supremo Zone. The Latte Zone is located approximately 1.5km south of Supremo and represents a separate mineralized target which exhibits similar geological characteristics as other known gold discoveries in the White District.

Key Results:

  • Latte trend yields 0.59 g/t Au over 35m (open to the south); 1.01 g/t Au over 10m and grab samples up to 2.35 g/t Au
  • Mineralization encountered over 300m strike length and remains open along trend and is hosted within a larger and untested gold-in-soil trend (Latte) known to extend for at least 1,000m long by up to 200m wide
  • Gold is co-incident with a major structural trend and is associated with typical "White District" pathfinder elements arsenic (As) and antimony (Sb)
  • 2009 soil sampling identifies new 700m long untested gold-in-soil anomaly uncovered between Supremo and Latte Zones

"The Latte Zone represents the second significant surface gold discovery identified on the Coffee property this year," stated Rob Carpenter, President and CEO of Kaminak. "These results illustrate the potential of the property to host multiple drill targets for 2010."

Latte Trend

The Latte gold-in-soil anomaly is located approximately 1,500m south of the main Supremo Zone and is defined by an east-west trending >50 ppb Au soil anomaly that has a 1,000m long strike extent and is 200m wide. Three evenly spaced trenches were cut across a 250m long portion of the anomaly and significant gold results were encountered in each trench (visit Company's website at www.kaminak.com for maps). The most westerly trench yielded 1.01 g/t Au over 10m and a separate zone of 0.56 g/t Au over 15m while the central trench yielded 0.59 g/t Au over 35m. The easterly trench yielded 0.60 g/t Au over 10m. Additionally, a grab sample located 90m further east assayed 2.35 g/t Au. These assays confirm the potential for broad zones of mineralization at the Latte target and exploration in 2010 is expected to include additional trenching and drilling.

New Soil Trend Identified

Soil sampling has identified a previously unknown gold-in-soil anomaly located midway between the Supremo and Latte trends. This new anomaly measures at least 700m long (open to the west) and is defined by gold-in-soil values ranging from 33 ppb Au to a high of 84 ppb Au. No trenching has been completed on this target as of yet; however it appears to spatially separate from both the Supremo and Latte Zones. Evaluating the gold potential of this new trend will be a priority during the 2010 exploration program.

Anomalous gold values on the Coffee property are associated with heavily bleached and weathered rock comprised primarily of sericite and quartz. This host rock is heavily altered; however, a progression from fresh rock can be observed within the trenches. There also seems to be a correlation between high gold values and several pathfinder elements, including arsenic (As) and antimony (Sb). Overall, gold values for 34 total samples reported here ranged from below detection level to a high of 2.35 g/t Au. Trench sampling consisted of continuous chip samples over 5m intervals of oxidized and weathered rubble sub-crop that is interpreted as being near in-place.

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. Rock samples were shipped to Acme Laboratories of Vancouver, B.C. for analyses. 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.

About Kaminak

Kaminak Gold Corporation is an opportunity focused, prospect generator whose technical strength and entrepreneurial drive is complemented by a proven, successful business model designed to create shareholder value. The company has an extensive portfolio of discovery-stage projects that offer world-class exploration potential and present exposure to strategic commodities with an emphasis on gold.

Kaminak's financial discipline has enabled the company to acquire a healthy treasury, remain debt-free and maintain a very low corporate burn-rate. Well positioned to take advantage of the current market, Kaminak is actively engaged in seeking out market-friendly opportunities that are value-driven with high-potential for discovery.

On behalf of the Board of Directors of Kaminak

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.

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

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

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