Kaminak Gold Corporation

Kaminak Gold Corporation

November 19, 2009 08:30 ET

Kaminak Identifies New "Granite-Hosted" Style of Gold Mineralization on the Coffee Property: Additional 284 Claims Staked to Cover Priority Targets

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2009) - Kaminak Gold Corporation (TSX VENTURE:KAM) is pleased to announce final 2009 assays from the Company's 100% owned Coffee Property. Results reported here are from the Kona and Espresso Zones and are in addition to high-grade trench results previously released from the Supremo and Latte Zones. Gold mineralization at the Kona and Espresso Zones is hosted by Cretaceous-aged granite, representing a new host rock to mineralization in the White Gold District. Until now, mineralization in the White Gold District was thought to be hosted entirely by much older Paleozoic gneissic and schistose rocks. Based on this work, Kaminak has acquired by staking additional Cretaceous granite hosted targets within the district.

Key Results:

  • Kona trend grab samples yield up to 3.9 g/t Au within newly recognized host rock (Cretaceous-aged Coffee Creek granite)
  • New staking adds 284 claims (5,500 hectares) covering high-priority targets. Coffee property now totals 993 claims (19,900 hectares)
  • Espresso trend extended and remains open: soil values up to 1.04 g/t Au

"Our 2009 exploration program successfully defined four significant gold trends on the Coffee property over a total length of 11km," stated Rob Carpenter, President and CEO of Kaminak. "We have only covered approximately 20% of the property with soil sampling and anticipate completing a significant soil sampling and trenching program next year in addition to diamond drilling."

Kona Trend

The Kona Trend, 5km west of the high-grade Supremo Zone, comprises a northeast trending >50 ppb Au soil anomaly traceable for over 1,500m along strike and up to 500m wide. Updated maps are now available on the Company website at www.kaminak.com. A series of anomalous grab samples were obtained along the southern margin of the target, ranging from 0.19 g/t Au to 3.92 g/t Au. The area has not been trenched since results were received subsequent to the field season.

Geological mapping has confirmed that the mineralization is hosted by the Coffee Creek granite, which is inferred to be Cretaceous in age, representing a new host to gold mineralization in the White Gold District. Kaminak has staked an additional 284 claims covering the known extent of the Coffee Creek granite.

Espresso Trend

The Espresso target, 1km west of the Kona trend, was identified late in the summer of 2009 and constitutes a broadly northeast trending >25 ppb Au soil anomaly traceable for 1200 meters by 750 meters that is open to the west. The 2010 program will target the western portion of the soil anomaly, not trenched in 2009, containing two soil values of 1.04 g/t Au and 0.72 g/t Au.

Anomalous gold values on the Coffee property are associated with heavily bleached and weathered rock comprised primarily of sericite and quartz. The 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 100 total rock samples reported here ranged from below detection level to a high of 3.9 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.


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"

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

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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