Kaminak Gold Corporation

Kaminak Gold Corporation

August 10, 2009 09:00 ET

Kaminak Commences Exploration Program on the "TBN" Platinum-Palladium Property, Thunder Bay Area, NW Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 10, 2009) - Kaminak Gold Corporation (TSX VENTURE:KAM) today announced it has initiated the 2009 exploration program on its 100% owned "TBN" Platinum-Palladium project located approximately 50 kilometres north of Thunder Bay, Ontario. This newly staked property adjoins the northern margin of Magma Metals Limited Current Lake property, where high-grade mineralization has been discovered in diamond drilling (see Magma Metals news release dated April 8th, 2009).

Kaminak has contracted Aeroquest Ltd. to complete a 1,470 line-km high-definition AeroTEM 2 electromagnetic and magnetic helicopter-borne survey over Kaminak's TBN claim block. This survey is now underway and is designed to delineate any ultramafic rocks which could host potential mineralization. The survey is being flown under fly-to-drill specifications, where dense 50m spaced lines and low-level instrument heights (a 30m EM bird height and two magnetometers situated at 31m and 47m above ground level) will help accelerate the project directly to the drilling stage. Final survey products are expected within 6 weeks of completion of the survey.

Staking of the TBN property resulted from an extensive in-house geological compilation of the Pt-Pd potential in the Thunder Bay region by Kaminak and Geovector Management Inc. Detailed structural analyses and data from regional geophysical surveys suggests the emplacement of the host ultramafic intrusion at Current Lake is controlled by intersecting East-West trending structures and North-South trending structures. Kaminak's TBN property is interpreted to have similar trending structural intersects and Kaminak believes the property has potential to host ultramafic intrusive rocks.

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.

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

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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