Kaminak Gold Corporation
TSX VENTURE : KAM

Kaminak Gold Corporation

September 05, 2012 16:00 ET

Kaminak Extends Supremo T3 Zone at Depth and Drills New Gold Discoveries at Sugar and Supremo T7 Zones

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2012) - Kaminak Gold Corporation (TSX VENTURE:KAM) today announced results for 36 Reverse Circulation (RC) holes and 33 diamond drill holes from the Coffee Gold Project, Yukon Territory. Results are presented from deep drilling at the Supremo T3 zone (24 total holes), as well as initial results from newly defined Supremo T7 zone (35 total holes) and Sugar zone (10 holes). All maps, sections and assay sheets are available on the Kaminak website at www.kaminak.com.

Supremo T3 Zone Drill Highlights
CFR-252: 14.5 g/t Au over 18.3m (from 183m)
CFD-228: 36.6 g/t Au over 6m (from 129m)
CFD-234: 8.3 g/t Au over 14m (from 226m)
CFD-231: 8.1 g/t Au over 10m (from 181m)
CFD-235: 2.4 g/t Au over 27m (from 145m)
CFD-239: 21.5 g/t Au over 2m (from 166m)
CFD-252: 7.8 g/t Au over 5m (from 261m)
CFD-247: 7.8 g/t Au over 5m (from 207m)
CFD-258: 2.1 g/t Au over 17m (from 211m)
CFD-264: 2.3 g/t Au over 15m (from 197m)

Supremo T7 Zone Drill Highlights
CFR-206: 1.7 g/t Au over 22.9m (from 56.4m)
CFR-217: 1.0 g/t Au over 56.4m (from 88.4m)
CFR-220: 2.4 g/t Au over 12.2m (from 82.3m)
CFR-227: 1.0 g/t Au over 32m (from 13.7m)
CFR-235: 2.2 g/t Au over 15.2m (from 21.3m)

Sugar Zone Drill Highlights
SGD-001: 2.3 g/t Au over 8.0m (from 30m)
SGD-002: 1.3 g/t Au over 19.2m (from 180m)
SGD-002: 1.3 g/t Au over 9.3m (from 207m)

Key Point Summary

  • Supremo T3 Zone deep drilling successfully extends mineralization to at least 200m vertical below surface. Results include: 14.5 grams per tonne gold (g/t Au) over 18.3m (from 183m core depth); 36.6 g/t Au over 6m (from 129m); 8.3 g/t Au over 14m (from 226m); 8.1 g/t Au over 10m (from 181m) and 2.4 g/t Au over 27m (from 145m). The zone remains open in all directions, and further drilling is planned along trend and at depth. Deep intervals remain strongly oxidized and are characterized by ~90% replacement of primary pyrite by hematite and limonite.
  • New trend at Supremo T7 Zone drill defined over at least 275m length and 150m depth. Corresponding soil anomaly is traced over 800m. Near surface and well oxidized drill results include: 1.0 g/t Au over 56.4m (from 88.4m core depth); 1.7 g/t Au over 22.9m (from 56.4m); 1.0 g/t Au over 32m (from 13.7m); 2.2 g/t Au over 15.2m (from 21.3m) and 2.4 g/t Au over 12.2m (from 82.3m).
  • First drill results from Sugar Zone successfully identify near-vertical gold-bearing structures beneath gold-in-soil trends. Preliminary results confirm that widespread arsenic-antimony altered corridors host discrete vein-type gold mineralization. Results include: 2.3 g/t Au over 8.0m (from 30m); 1.3 g/t Au over 19.2m (from 180m) and 1.3 g/t Au over 9.3m (from 207m). Additional drilling is planned to test a number of other gold-in-soil anomalies in the Sugar area.
  • Over 60,000m has been drilled at the Coffee project in 2012 within expected budgetary and time-line constraints. Ongoing drilling is focused on expanding near surface and oxidized gold zones (0-200m vertical depth) at Supremo T3, T4, T5 and T7 trends. Additional results are pending from deep drilling (to 300m vertical depth) at the nearby Double Double zone.

Drill Results

Supremo consists of at least eight individual gold-in-soil trends (named T1 to T8) located within a 2km by 2km area. Drilling beneath these soil anomalies successfully identified gold-bearing brittle fractures and breccia zones within gneissic host rock and felsic-intermediate intrusive rocks, accompanied by silica flooding and pyrite (oxidized to limonite/hematite). Higher‐grade gold is associated with intense silica-sericite alteration and high pyrite/limonite content. The mineralized structures are totally to partially oxidized as deep as 200m below surface. Ongoing drilling continues to focus on expanding the Supremo zones at depth and northwards along trend. The T3 structure was the first drill discovery on the Coffee property and to date has been traced for at least 1600m along trend. New Supremo T3 results include: 14.5 g/t Au over 18.3m (from 183m); 36.6 g/t Au over 6m (from 129m); 8.3 g/t Au over 14m (from 226m); 8.1 g/t Au over 10m (from 181m) and 2.4 g/t Au over 27m (from 145m). The newly discovered T7 zone occurs 600m east of T3, and initial drill testing along the 275m strike length successfully identified well oxidized breccias and brittle fractures that host gold mineralization. New Supremo T7 results include: 1.0 g/t Au over 56.4m (from 88.4m core depth); 1.7 g/t Au over 22.9m (from 56.4m); 1.0 g/t Au over 32m (from 13.7m); 2.2 g/t Au over 15.2m (from 21.3m) and 2.4 g/t Au over 12.2m (from 82.3m).

The Sugar area is located 20km east-southeast of Supremo and was initially identified via ridge-and-spur sampling completed by Kaminak in 2010. In early summer of 2011, a 100m by 50m soil grid of over 3,000 samples was completed over an area of 4.5km by 3km. This soil survey identified five distinct soil anomalies with elevated gold-in-soil of greater than 100 ppb Au, with three of these zones hosting significant soil anomalies greater than 500 ppb Au. Diamond core drilling at Sugar commenced in late June 2012 to test these high-tenor (up to 2.13 g/t Au) soil anomalies. To date, ten drill holes have been completed, with the objective to undertake initial reconnaissance testing of the five distinct soil anomalies. Gold mineralization to ≥1g/t Au was intersected in all drill holes for which assays have been received to date. Highlight drill intercepts include: 2.3 g/t Au over 8.0m (from 30m), 1.3 g/t Au over 19.2m (from 180m) and 1.3 g/t Au over 9.3m (from 207m). Mineralization is hosted in granitoid and occurs in discrete east-west trending steeply-dipping structural corridors. Higher grade gold mineralization occurs within breccias with coincident pyrite+arsenopyrite±stibnite±pyrrhotite mineralization and quartz+carbonate+arsenopyrite±stibnite veins. Lower grade gold mineralization is associated with sericite+silica alteration halos adjacent to the breccia and vein structures, and coincident with disseminated arsenopyrite+pyrite±pyrrhotite.
Table of Results

Drill Hole
Number
From
(m)
To
(m)
Width
(m)*
Weighted
grade
(g/t Au)
Supremo T3
CFD-224 29 32 3 3.44
CFD-227 73 75 2 2.92
CFD-228 129 135 6 36.55
CFD-231 181 191 10 8.08
CFD-232 171 180 9 1.14
and 200 211 11 1.32
CFD-234 226 240 14 8.26
CFD-235 145 172 27 2.37
CFD-238 148 150 2 16.69
and 167 176 9 1.23
and 228 234 6 5.36
CFD-239 166 168 2 21.45
CFD-242 217 220 3 6.94
CFD-244 143 144 1 1.61
CFD-247 165 166 1 7.58
and 207 212 5 7.76
CFD-248 227 229 2 13.26
and 277 281 4 3.98
CFD-250 112 116 4 3.31
and 224 225 1 13.35
CFD-252 261 266 5 7.76
CFD-253 160 179 19 1.14
CFD-255 134 145 11 1.71
and 185 188 3 2.22
CFD-257 233 234 1 2.53
CFD-258 200 203 3 2.53
and 211 228 17 2.08
CFD-260 225 230 5 1.15
CFD-262 157 160 3 2.07
CFD-263 125 127 2 2.06
CFD-264 197 212 15 2.3
CFR-252 182.88 201.17 18.29 14.51
Supremo T7
CFR-206 56.39 79.25 22.86 1.67
and 172.21 182.88 10.67 1.98
CFR-207 62.48 70.1 7.62 2.57
CFR-208 146.3 150.88 4.58 1.64
CFR-209 96.01 97.54 1.53 4.15
CFR-210 120.4 129.54 9.14 1.24
CFR-211 152.4 163.07 10.67 1.04
CFR-212 85.34 89.92 4.58 1.15
CFR-213 22.86 25.91 3.05 2.33
CFR-214 82.3 96.01 13.71 1.21
and 114.3 118.87 4.57 2.54
CFR-215 150.88 158.5 7.62 1.03
CFR-216 25.91 27.43 1.52 1.57
CFR-217 30.48 41.15 10.67 0.94
and 88.39 144.78 56.39 0.98
CFR-218 28.96 36.58 7.62 2.08
and 62.48 74.68 12.2 1.05
CFR-219 4.57 9.14 4.57 2.26
and 42.67 47.24 4.57 2.89
CFR-220 48.77 67.06 18.29 1.31
and 82.3 94.49 12.19 2.43
CFR-221 117.35 126.49 9.14 2.07
CFR-222 9.14 15.24 6.1 2.97
and 22.86 33.53 10.67 1.38
CFR-223 92.96 105.16 12.2 1.89
CFR-224 56.39 67.06 10.67 1.27
CFR-225 27.43 28.96 1.53 2.03
CFR-226 123.44 128.02 4.58 3.85
CFR-227 13.72 45.72 32 1.05
CFR-228 10.67 16.76 6.09 1.56
and 64.01 73.15 9.14 1.47
CFR-229 51.82 70.1 18.28 1.41
CFR-230 111.25 115.82 4.57 2.26
and 124.97 149.35 24.38 1.04
CFR-231 156.97 163.07 6.1 2.78
and 173.74 187.45 13.71 1.3
CFR-232 41.15 50.29 9.14 0.7
CFR-233 16.76 19.81 3.05 4.23
CFR-234 77.72 80.77 3.05 1.79
CFR-235 21.34 36.58 15.24 2.16
and 117.35 128.02 10.67 1.5
CFR-236 144.78 149.35 4.57 1.03
CFR-237 4.57 15.24 10.67 0.97
and 22.86 24.38 1.52 6.14
CFR-239 56.39 67.06 10.67 1.49
CFR-243 98.15 102.72 4.57 2.22
CFR-245 92.05 96.62 4.57 2.04
and 107.29 116.43 9.14 1.82
Sugar
SGD-1 30 38 8 2.29
SGD-2 179.8 199 19.2 1.34
and 206.7 216 9.3 1.26
SGD-3 73 74 1 2.39
SGD-4 94.4 94.72 0.32 11.85
SGD-5 186 187.6 1.6 1.77
SGD-6 236 237 1 1.46
SGD-7 117 124 7 0.74
SGD-8 178 179 1 3.27
SGD-9 86 87.3 1.3 5.89
SGD-10 183 186.24 3.24 0.96

* Down-hole width; true width estimated at approximately 2/3 down-hole length.

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. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill sample string. Samples are placed in sealed bags and shipped directly to the ALS Minerals preparatory laboratory in Whitehorse prior to gold fire assay. 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

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com.

Certain disclosures in this release, including management's assessment of plans, projects and intentions with respect to the Coffee Project drilling program 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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