Kaminak Gold Corporation

Kaminak Gold Corporation

April 02, 2007 08:30 ET

Kaminak Adds Management Capacity

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 2, 2007) - Kaminak Gold Corporation (TSX VENTURE:KAM) today announced Charles Chebry, B.Sc., CMA and Sean Mager, B.Com., have been appointed to the Company's Board of Directors. Mr. Chebry has also been named Kaminak's new Chief Financial Officer (CFO), replacing the former CFO, John Williamson, who will remain on the Board of Directors. Furthermore, Pamela Strand has resigned from the Board of Directors but will remain with the Company in the role of a Technical Advisor. Peter Kleespies, M.Sc, P.Geol., has also joined the Technical Advisory Board for the Company. All changes to Kaminak's Board of Directors will be subject to approval from the TSX Venture Exchange.

"On behalf of Kaminak, I would like to thank John Williamson and Pamela Strand for their continued support in the formation, guidance and growth of the Company," stated Rob Carpenter, President and CEO of Kaminak. "The extensive financial and managerial background that Sean and Charles possess, along with Peter's vast geological experience, will complement an already exceptional technical team and significantly bolster our corporate strength."

Additions to Kaminak Board of Directors

Charles Chebry, B.Sc., CMA

Mr. Chebry has a Bachelor of Science from the University of Alberta and is a Certified Management Accountant. Mr. Chebry became President, Chief Executive Officer and Director of Cedar Mountain Exploration Inc. in January 2007. He was Chief Financial Officer, Vice President of Finance and a Director of Olympia Financial Group Inc. (TSX VENTURE:OLY), from March 1997 to December 2006 and remains a Director. Mr. Chebry has been a Director of Committee Bay Resources Inc. (TSX VENTURE:CBR), since July 2002 and served as President and founder of its predecessor company Arta Enterprises Inc. from December 2000 to July 2002.

Sean Mager, B.Com.

Mr. Mager is a graduate of the University of Alberta School of Business and has spent fifteen years in private and public management and consulting, including six years in Canada's Northwest Territories. His northern experience includes serving as COO for an aboriginal investment corporation and as the lead Financial Management Analyst for the industry portfolio of the territorial government. Since 2000, he has applied his expertise in corporate and northern affairs to the development and governance of junior mining and mineral exploration companies. Presently, Mr. Mager is the CFO and a Director of both Brilliant Mining Corporation (TSX VENTURE:BMC) and Committee Bay Resources (TSX VENTURE:CBR).

Additions to Kaminak Technical Advisory Board

Peter Kleespies, M.Sc, P.Geol.

Mr. Kleespies is a Professional Geologist registered with the Association of Professional Engineers, Geologists and Geophysicists of Alberta. He is a graduate of the University of Alberta holding both B.Sc Hon. and M.Sc in geology and has 18 years experience in exploration geology for both precious and base metals in North and South America. He worked for both junior and senior companies, including BHP, Metallic Resources and Miramar Mining Corporation on a broad range of exploration projects in Canada, Venezuela, and Mexico. His expertise ranges from conceptual project generation, grassroots exploration, large-scale surface and underground drill programs, deposit modeling and resource estimation. Mr. Kleespies formerly managed exploration projects at Hope Bay for Miramar Mining Corporation and is currently Vice President of Exploration for Committee Bay Resources Ltd. (TSX VENTURE:CBR).

Pamela D. Strand, M.Sc., P. Geol.

Ms. Strand obtained a B.Sc. (Geology) from the University of Toronto in 1988 and a M.Sc. from the University of Western Ontario in 1993. Since December 1997, she has been President and CEO of Shear Minerals Ltd. (TSX VENTURE:SRM), a successful diamond exploration company. Since the completion or Shear's reorganization, whereby it spun-out the shares of Kaminak Gold Corporation to holders of Shear common shares, Ms. Strand has served as a Director for Kaminak and has had an integral role in the Company's public launch and growth. She will continue to work with Kaminak in the role of a Technical Advisor.

Kaminak - Northgate Strategic Alliance

Kaminak and Northgate Minerals Corp. (TSX:NGX) have agreed to jointly fund a generative or grassroots gold exploration program over parts of the Canadian Shield. Each company will initially fund $50,000 towards data compilation, targeting, and field work during the 2007 season. Kaminak will initially act as Project Operator.

Stock Options Granted

Kaminak Gold Corporation's Board of Directors has granted an aggregate of 240,000 of stock options, subject to regulatory approval. Insiders of the Corporation were allocated 200,000 of these options. The options will have an exercise price of $0.79 per common share, with a hold period of four months and will expire on April 2nd, 2012.

About Kaminak Gold Corporation

Kaminak Gold Corporation is a project generator employing a joint venture strategy that maximizes opportunities for discovery while minimizing exploration and shareholder risk. A critical component of Kaminak's business model is working with strong project partners to advance the Company's exploration projects. Covering several million acres, Kaminak holds one of the largest land positions in Canada devoted to metallic mineral exploration. Kaminak's projects offer world-class exploration potential and present exposure to strategic commodities including, gold, uranium and nickel.

On behalf of the Board of Directors

Rob Carpenter, Ph. D., P. Geo., President and CEO

Kaminak Gold Corporation

Certain disclosures in this release, including management's assessment of Kaminak's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. 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.

Contact Information

  • Kaminak Gold Corporation
    Rob Carpenter, Ph. D., P. Geo.
    President and CEO
    (604) 646-4534
    Website: www.kaminak.com