Kaminak Gold Corporation

Kaminak Gold Corporation

October 25, 2006 08:30 ET

Kaminak Gold Corporation: Drilling Intersects 51.15m Grading 1.03 g/t Gold at the "Gold Zone", Voigtberg Property, British Columbia

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 25, 2006) - Kaminak Gold Corporation (TSX VENTURE:KAM) and project partner BC Gold Corp. (TSX VENTURE:BCG) are pleased to announce final drill results on Kaminak's 100% owned Voigtberg Property located 20 kilometres west of the Stewart-Cassier Highway, and 4 kilometres from the proposed access road to the high-profile Galore Creek Cu-Au-Ag Project in northwest British Columbia.

Four diamond drill holes (VGT06-04 to VGT06-07) were completed for a total of 717.1m. Holes VGT06-05 and VGT06-06 were designed to test separate anomalies within the Gold Zone area and holes VGT06-04 and VGT06-07 were completed on additional targets located outside the Gold Zone environment. The geological setting at Voigtberg is suggestive of "porphyry" style deposits which are typically low grade, bulk tonnage systems.

"This new discovery at the Gold Zone is the most significant result on the property to date and it is open along strike and at depth," stated Rob Carpenter, President and CEO of Kaminak. "In less than a year, we have advanced Voigtberg from the grassroots stage, to a project with compelling exploration potential based on significant gold and zinc mineralization in drill core."

Gold Zone Results

Drill hole VGT06-05 was drilled to test the core of a 700m by 400m gold in soil geochemical anomaly referred to as the "Gold Zone". Anomalous gold mineralization occurs through the entire length of the hole including a near surface intercept of 51.15m grading 1.03 g/t Au. Within this 51.15m zone, separate intervals of 11.27m grading 2.0 g/t Au and 4.17m grading 2.74 g/t Au were encountered. Individual assays ranged up to 7.97 g/t Au over 1.3m.

Three closely spaced drill holes (151 metres each) were completed along the margin of the Gold Zone soil anomaly in 1996. Anomalous gold was encountered throughout each of the three holes and the final 2.43 m of the third hole yielded 2.01 g/t Au. Nonetheless, the main soil anomaly was never drill tested until hole VGT06-05 was completed this season.

Extensively altered volcanic and felsic porphyrityic rocks and anomalous gold mineralization were encountered through the entire hole. It should be noted that limited drilling data and the disseminated mineralization style prohibits any reliable estimate of true width.

A second drill hole (VGT06-06) was attempted and abandoned along the far southern extent of the soil anomaly. Drilling conditions were poor and the hole was shut down in overburden.



Hole ID From (m) To (m) Interval (m) Au (g/t)

VGT06-05 29.9 81.05 51.15 1.03

Including 29.9 41.17 11.27 2.04

and 46.81 50.98 4.17 2.74

VGT06-06 Hole Abandoned

Additional Drill Results

Two holes (VGT06-04 and VGT06-07 were designed to test regional base metal targets and establish geological correlations up to several hundred metres away from the main Gold Zone. Hole VGT06-07 was located 160m south of the Gold Zone and was designed to detect any base metal zones or haloes along the margin of the Gold Zone. The most interesting intersections cut 22.52m grading 1.02% Zn containing a higher grade interval of 6.13m grading 2.18% Zn.

Hole VGT06-04 was set-up to evaluate a molybdenum outcrop occurrence discovered earlier this season (see Kaminak news release dated September 14th, 2006). Highly altered volcanic and porphyritic rocks were encountered with abundant sulphide mineralization, yet no significant assays were obtained. Further interpretation will be completed in order to locate depth extent of the known molybdenum mineralization.

Results from these two regional holes have provided important geological information about the nature and zoning patterns within the large-scale Voigtberg porphyry hydrothermal system.



Hole ID From (m) To (m) Interval (m) Zn (%)

VGT06-07 72.27 138.26 65.99 0.43

including 82.77 105.29 22.52 1.02

and 91.27 97.4 6.13 2.18

VGT06-04 No significant values

About the Project

Kaminak has granted BCGold the option to acquire up to a 60% interest in the Voigtberg Property by making $2,000,000 in exploration expenditures over four years and by issuing 400,000 units of BCGold to Kaminak. BCGold can earn an additional 10% interest in the Property by completing a bankable feasibility study, for a total earn-in of 70%.

Equity Engineering Ltd. of Vancouver, British Columbia has been contracted to oversee the technical aspects of the Voigtberg Project. Murray Jones, P.Geo. is the Qualified Person for the purposes of National Instrument 43-101 and has reviewed the technical content of this news release. All rock samples were shipped to ALS Chemex Ltd. in sealed bags and analyzed for 34 elements by ICP-AES methods (Induced Coupled Plasma) and Au by standard Fire Assay-Atomic Absorption method. Internal laboratory standards were analyzed along with duplicates and blanks from the Voigtberg property.

Kaminak Gold Corporation holds one of the largest land positions, covering several million acres, 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
    President and CEO
    (604) 646-4534
    Website: www.kaminak.com