Kaminak Gold Corporation
TSX VENTURE : KAM

Kaminak Gold Corporation

December 02, 2010 08:30 ET

Kaminak Defines Additional Gold-In-Soil Trends on the Coffee Property

New "Sugar Trend" Located 20km From Nearest Gold Occurrence

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 2, 2010) - Kaminak Gold Corporation (TSX VENTURE:KAM) today announced significant new gold-in-soil trends have been identified by soil sampling conducted during the 2010 field season, all occurring on the Company's 100% owned Coffee property, located in the White Gold District, Yukon Territory. All zones remain open along trend and are untested by drilling. 

Key Point Summary:

  • The Americano gold-in-soil trend extended an additional 2.5km along strike, including a new gold trend named "Americano West", which represents a new drill target and remains open along trend to the west and south.
     
  • A significant new gold-in-soil geochemical trend identified 20km southeast of the Supremo Zone, named the "Sugar Trend", comprising a consistent 8km x 4km zone of elevated gold-in-soil.
     
  • A new gold-in-soil geochemical anomaly located on the "Apollo Property", 25km northwest of Coffee.

"Systematic soil sampling of the Coffee Property continues to uncover numerous high-priority drill targets over a distance of at least 30km," stated Rob Carpenter, Kaminak's President and CEO. "Drill testing of soil targets in 2010 resulted in several high-grade gold discoveries and as a result will remain an effective exploration tool.

Americano Soil Sampling

During the 2010 summer field season Kaminak collected almost 10,000 soil samples across the Coffee Property, including an extension of the existing grid pattern sampling. The Company previously announced a major extension of the previously identified gold trends at Coffee (August 9 2010; 'Kaminak Identifies Three New Kilometre-Scale Gold Soil Trends on the Coffee Property: Priority Targets to be Drilled in Current Field Season'), including discovery of the major new Americano Trend. 

A further extension of the Coffee soil grid in the latter part of the field season has resulted in an additional 1km extension to the Americano North gold soil trend and the identification of the new "Americano West" gold-in-soil trend located 1km west of Americano, and covering an area of approximately 1.5km x 1km with values up to 484ppb Au. Kaminak considers these results to be highly significant as drilling of soil targets to date has resulted in several bedrock gold discoveries. The Company therefore plans to drill test the Americano West area in 2011 and also undertake further grid soil sampling extensions to the Americano West gold trend which remains open along trend to the west and south. 

Sugar Soil Sampling

In addition to the grid sampling over Americano, the Company undertook a major program of first-pass ridge and spur soil sampling over its 100% owned Coffee Property, which resulted in numerous zones of elevated gold-in-soil being identified. In particular, a significant new gold trend was identified, named the "Sugar Trend", comprising a consistent 8km x 4km zone of elevated gold-in-soil peaking at 248ppb Au, located in the headwaters of Excelsior Creek approximately 20km east-southeast of the Supremo Zone at Coffee. The gold-in-soil anomaly is underlain by a zone of intermediate to mafic dykes which intrude granite. 

The Company considers the Sugar trend to be extremely significant as the scale and tenor of gold-in-soil geochemistry is similar to early sampling over the Coffee Gold Deposit area. The Company plans to undertake grid pattern soil geochemical sampling over the Sugar Trend in 2011 in addition to further step-out ridge and spur sampling over the remainder of the Coffee Property, 30% of which is unexplored by first-pass prospecting. 

In addition to soil sampling on the Coffee Property, Kaminak also undertook first pass ridge and spur soil sampling on selected regional targets on its 100% owned landholdings throughout the Dawson Range district. Encouraging results were returned from the "Apollo Project" located 25km northwest of Coffee, with elevated gold-in-soil values up to 73ppb Au. The Company plans to conduct further systematic work at Apollo in 2011. 

A detailed plan map showing the location of the new gold in soil trends is available on the Kaminak website at www.kaminak.com.

QA/QC

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. Samples were collected by Ground Truth Exploration Ltd., of Dawson City, Yukon. Quality assurance and quality control procedures include the systematic insertion of field duplicates into the sample batch. Samples are placed in sealed bags and shipped directly by charter plane and road freight to the Acme Analytical Laboratories Ltd preparatory laboratory in Whitehorse prior to aqua regia digestion and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101. 

On behalf of the Board of Directors of Kaminak

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.

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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