Kaminak Gold Corporation

Kaminak Gold Corporation

January 21, 2016 08:30 ET

Kaminak Announces Executive Management Changes

Zara Boldt Appointed Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 21, 2016) - Kaminak Gold Corporation (TSX VENTURE:KAM) today announced the appointment of Ms. Zara Boldt as Chief Financial Officer ("CFO") and Corporate Secretary of the Company, effective immediately. Ms. Boldt replaces Mr. Jonathan Singh, CFO, and Ms. Brenda Nowak, Corporate Secretary. In addition, Allison Rippin Armstrong, previously Kaminak's Vice-President, Lands and Environment will be assuming an expanded role as Vice-President, Sustainability.

Ms. Eira Thomas, CEO stated: "On behalf of the Kaminak Board and management team, I would like to thank Jonathan and Brenda for their valuable contributions to Kaminak over the past several years, culminating in the recent announcement of a positive feasibility study for the Coffee Gold Project. We wish them both well in their future endeavours." She further commented, "As we turn our minds to the next chapter in the Corporation's history and work towards the permitting and development of Coffee as a high value, high margin open pit gold mine in Yukon, I am pleased to be welcoming Zara into her new role on our executive team as CFO and Corporate Secretary and announce that Allison Rippin Armstrong will be assuming a larger role as Vice-President, Sustainability."

Ms. Boldt is a professional accountant (CPA, CGA) with over fifteen years of progressively senior financial leadership roles with public companies in the mineral exploration and development industry. At Kaminak, Ms. Boldt will be responsible for all aspects of financial reporting, regulatory compliance and corporate governance and will work closely with the executive team through permitting, financing and development of the Coffee Gold Project in the Yukon. Most recently, Ms. Boldt served as the Vice-President, Finance and CFO for Stornoway Diamond Corporation where she was a member of the senior management team responsible for arranging financing in excess of $900 million for the development of the Renard Project in Quebec. Ms. Boldt served as a director and Chair of the Audit Committee of Troon Ventures Ltd. between 2007 and 2014 until Troon completed a business combination with Grenville Strategic Royalty Corp. Ms. Boldt also serves as the CFO and Corporate Secretary for Strongbow Exploration Inc.

As Kaminak now transitions into the Permitting stage on its flagship, development track Coffee Gold Project, Ms. Allison Rippin Armstrong, previously Vice-President Lands and Environment, will be appointed to the role of Vice-President Sustainability, with continuing and direct responsibility in the areas of permitting and government relations, including First Nations.

Allison brings more than 20 years of experience and has participated in the permitting process of seven mines in northern Canada.

Grant of Stock Options

The Board of Directors has approved a grant of 3,960,000 stock options to directors, officers, employees and consultants of the Company. The stock options have an exercise price of $0.85 per share and are exercisable for a five-year period, until January 20, 2021. The stock options will vest on a quarterly basis over a 12-month period from the grant date.

On behalf of the Board of Directors of Kaminak

Eira Thomas, President and CEO

Kaminak Gold Corporation

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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