Kaminak Gold Corporation

Kaminak Gold Corporation

August 13, 2009 09:28 ET

Kaminak Reports New Gold Occurrences From Yukon's White District: Trenching on the Coffee Property Yields 2.30 g/t Au Over 21.0m

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 13, 2009) - Kaminak Gold Corporation (TSX VENTURE:KAM) is pleased to announce assay results from the first batch of 2009 rock samples on the Company's 100% owned Coffee property, located in the newly recognized White Gold District of Yukon. This news release announces results from the first 50 rock samples collected from newly completed trenches and represents only 5% of the total area to be trenched and sampled this season.

Key Point Summary:

- Continuous chip sampling of sub-cropping trench material yields 2.30 g/t Au over 21.0m.

- Mineralization hosted in pyrite-bearing and quartz-sericite altered felsic augen gneiss

- Overall style and setting of gold mineralization resembles nearby discoveries made by Underworld Resources Ltd.

- New claims staked in order to cover favourable geology

"These assays are from a small portion of the larger, untested gold-in soil anomaly present on the Coffee property; we will continue to systematically trench the entire soil anomaly this summer," stated Rob Carpenter, President and CEO of Kaminak. "These results indicate the Coffee property has excellent potential to host bulk tonnage or "Underworld-style" gold deposits."

Description of Mineralization

Anomalous gold values 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 felsic augen gneiss can be observed within the trenches. There also seems to be a correlation between high gold values and several pathfinder elements, including arsenic (As), antimony (Sb), molybdenum (Mo), mercury (Hg) and barium (Ba).

Fifty samples were collected from newly dug shallow trenches (total length of 235m) located on top of previously defined gold-in-soil anomalies. Sample material consisted of rubble sub-crop which is interpreted to be in-place. Forty-seven of these samples were taken across 5m or 6m intervals and are considered continuous chip samples. Three grab samples were also taken from the trenches but these values were not included when making grade-interval calculations.

Overall, gold values for 50 total samples ranged from below detection level to a high of 5.84 g/t Au. Nine samples returned values greater than 1.0 g/t Au. Continuous sampling over a 21m trench interval yielded a composite average grade of 2.30 g/t Au. Individual assays from this 21m interval ranged from 1.44 g/t Au to 2.60 g/t Au. A grab sample taken from this trench returned 5.84 g/t Au. Furthermore, a separate zone in the same trench located 15m away yielded 1.34 g/t Au over 10m.

Information regarding the orientation, true width or depth extent of this new gold zone is not currently known. Follow-up and detailed geological mapping and sampling will be completed this season and this work will aid in our geological modeling of the gold zone.

Field Update

Kaminak has also staked an additional 3,400 acres along the southern and eastern boundaries of the Coffee property. This ground was staked in order to cover geology favourable for the discovery of gold.

Sampling and mapping of trenches on the Coffee property is ongoing and is expected to be completed within the next two weeks. Assays from these trenches will likely be available in 4 weeks. Follow-up sampling and detailed trenching from anomalous areas is also expected to be completed this summer. Approximately 3,000 soil samples have been collected from previously unexplored portions of the Coffee property. Results from this survey are expected in the next 2 weeks.

Geological mapping and soil sampling on Kaminak's Kirkman property will be completed in the next two weeks and rock samples taken from new exposures on the property are currently at the lab awaiting analysis.


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. 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 analysed 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.

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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