Kaminak Gold Corporation
TSX VENTURE : KAM

Kaminak Gold Corporation

August 13, 2015 08:00 ET

Kaminak Reports 2015 Infill Drill Results from Coffee Gold Project

Highlights Include: 4.0 g/t Au over 27m, 6.2 g/t Au over 16.8m, 10.5 g/t Au over 9.1m, 18.6 g/t Au over 5.0m and 2.8 g/t Au over 32.0m

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 13, 2015) - Kaminak Gold Corporation (TSX VENTURE:KAM) today announced results from the 2015 infill drilling program at Coffee, Kaminak's flagship development track gold project located 130km south of Dawson City, Yukon. Infill drilling is now complete on all Coffee deposits, demonstrating good agreement with the existing block model and expected to result in a high conversion rate of in-pit resources from Inferred to Indicated in the updated 2015 block model underpining the Feasibility Study (FS), which is scheduled for completion in Q1, 2016. The results reported herein are predominantly from the Supremo deposit, which consists of six gold bearing structures (referred to as T1 to T5 and T7) that are interconnected and are interpreted to be part of the same mineralized system. Supremo contributes approximately 70% of the total ounces in the mine plan defined in the 2014 Coffee NI 43-101 Preliminary Economic Assessment (PEA).

"Our infill drilling program, which consisted of 70,000 metres, was executed on schedule and on budget in less than one year," stated Eira Thomas, Kaminak President & CEO. "Upgrading the confidence level of the Coffee gold resources is a big step towards de-risking Coffee as we move it through feasibility towards production."

In 2015, approximately 31,000 metres of infill drilling was undertaken on the series of parallel, north-south striking gold bearing structures comprising the Supremo deposit. Based on the 2014 PEA, the Supremo deposit contributes approximately 1,272,000 ounces of gold (recoverable) at an average diluted grade of 1.13 g/t Au in Oxide resources, plus an additional 44,000 ounces of gold at 1.64 g/t Au as Transitional-oxide resources. Drilling completed at Supremo has firmed up the existing geological interpretation providing additional confidence in the location, geometry and continuity of the mineralized lodes.

The location and spacing of infill drilling was determined in consultation with independent Qualified Person Robert Sim, P.Geo of SIM Geological Inc., who completed the Coffee Gold Project Mineral Resource Estimates (announced December 13, 2012, and updated January 28, 2014). The Company is now in the process of updating the Coffee mineral resource estimate for inclusion in the final feasibility study.

All maps, sections and assay sheets associated with this news release can be viewed by clicking the following link: http://kaminak.com/news_releases/index.php?&content_id=634

Kona North Drill Results

Kaminak also announced today the results from step-out drilling at the Kona North prospect consisting of two holes, CFD0601 and CFD0602, drilled 40m east along strike from CFR0976, which was drilled earlier this year and returned 2.43 g/t Au over 50.3m. Both step-out holes intersected gold mineralization with the best intercept returning 2.4 g/t Au over 19m in CFD0602, and extending the strike length of the Kona North deposit to 330m while still remaining open along strike and at depth.
The depth extent of Oxide and Transitional mineralization appears to be quite shallow at Kona North compared to other Coffee gold deposits resulting from localized erosion of the upper sections of the mineralized structure. However there remains good potential to test for extensions of the Oxide mineralization at shallower levels of the system along strike to the east and west within the 1.8km long gold-in-soil anomaly.

Table 1 2015 Coffee Infill and Kona North Drilling Results

Prospect Drill Hole From
(m)
To
(m)
Width
(m)
Weighted
Average
Grade
(g/t Au)
2015 Coffee Infill Drilling
Supremo T3 CFD0500 90 100 10 2.76
Supremo T3 CFD0501 NSV or did not reach target depth
Supremo T3 CFD0502 29 36 7 1.39
Supremo T3 CFD0503 116 119 3 22.12
Supremo T3 CFD0503 201 204 3 7.01
Supremo T3 CFD0504 82 89 7 10.28
Supremo T3 CFD0504 96 100 4 3.25
Supremo T3 CFD0505 177 183 6 3.33
Supremo T3 CFD0506 144 149 5 2.12
Supremo T3 CFD0506 154 160 6 2.15
Supremo T3 CFD0506 193 194 1 11.1
Supremo T3 CFD0507 35 38 3 4.51
Supremo T3 CFD0507 143 148 5 5.2
Supremo T3 CFD0509 224 229 5 2.15
Supremo T3 CFD0509 275 278 3 3.81
Supremo T3 CFD0510 15 27 12 2.77
Supremo T3 CFD0511 37 45 8 7.95
Supremo T3 CFD0511 58 65 7 3.36
Supremo T3 CFD0513 111 114 3 2.18
Supremo T5 CFD0514 112 122 10 4.03
Supremo T1-2 CFD0516 88 90 2 2.4
Supremo T5 CFD0517 152 155 3 3.16
Supremo T5 CFD0519 50 58 8 1.84
Supremo T1-2 CFD0520 33 39 6 2.32
Supremo T1-2 CFD0521 112 115 3 8.08
Supremo T1-2 CFD0521 134 138 4 2.97
Supremo T5 CFD0523 202 205 3 2.61
Supremo T1-2 CFD0524 58 62 4 2.77
Supremo T5 CFD0525 6 9 3 5.58
Supremo T5 CFD0525 19 23 4 5.97
Supremo T1-2 CFD0526 94 98 4 3.09
Supremo T5 CFD0527 NSV or did not reach target depth
Supremo T1-2 CFD0528 53 55 2 0.96
Supremo T1-2 CFD0529 38 45 7 1.62
Supremo T5 CFD0531 138 145 7 1.77
Supremo T5 CFD0531 183 188 5 2.02
Supremo T5 CFD0531 204 210 6 4.9
Supremo T5 CFD0532 140 152 12 1.44
Supremo T1-2 CFD0533 27 28 1 4.23
Supremo T5 CFD0535 133 146 13 1.37
Supremo T5 CFD0535 160 165 5 3.98
Supremo T5 CFD0536 26 28 2 3.41
Supremo T5 CFD0537 130 133 3 1.89
Supremo T5 CFD0539 68 75 7 7.77
Supremo T5 CFD0540 212 220 8 1.63
Supremo T5 CFD0541 57 64 7 4.26
Supremo T1-2 CFD0542 51 53 2 35.35
Supremo T1-2 CFD0542 124 128 4 6.06
Supremo T1-2 CFD0542 139 149 10 4.09
Supremo T1-2 CFD0542 227 229 2 5.38
Supremo T5 CFD0543 42 43 1 1.32
Supremo T1-2 CFD0544 NSV or did not reach target depth
Supremo T1-2 CFD0546 10 22 12 1.71
Supremo T1-2 CFD0546 179 185 6 10.36
Supremo T1-2 CFD0547 88 90 2 3.17
Supremo T5 CFD0548 173 188 15 2.19
Supremo T1-2 CFD0549 137 138 1 1.53
Supremo T1-2 CFD0551 NSV or did not reach target depth
Supremo T1-2 CFD0552 171 179 8 1.68
Supremo T1-2 CFD0553 97 124 27 4.04
Supremo T1-2 CFD0554 102 106 4 2.82
Supremo T1-2 CFD0554 118 121 3 5.17
Supremo T1-2 CFD0554 188 204 16 2.6
Supremo T5 CFD0555 144 161 17 4.74
Supremo T1-2 CFD0556 186 187 1 1.57
Supremo T1-2 CFD0557 119 143 24 2.39
Supremo T1-2 CFD0557 189 194 5 10.58
Supremo T5 CFD0558 165 170 5 3.34
Supremo T3 CFD0559 69 71 2 6.9
Supremo T3 CFD0559 93 99 6 6.72
Supremo T1-2 CFD0561 109 114 5 18.62
Supremo T1-2 CFD0561 132 135 3 3.54
Supremo T1-2 CFD0562 210 214 4 1.35
Supremo T5 CFD0563 54 58 4 13.9
Supremo T7 CFD0564 45 51 6 2.22
Supremo T7 CFD0565 32 34 2 1.61
Supremo T5 CFD0566 54 58 4 14.44
Supremo T1-2 CFD0567 185 189 4 1.3
Supremo T7 CFD0568 77 81 4 2.06
Supremo T5 CFD0569 44 48 4 4.42
Supremo T7 CFD0570 81 90 9 1.84
Supremo T7 CFD0571 61 63 2 2.02
Supremo T5 CFD0572 113 122 9 2.21
Supremo T5 CFD0574 41 43 2 2.32
Supremo T4 CFD0575 NSV or did not reach target depth
Supremo T7 CFD0576 NSV or did not reach target depth
Supremo T5 CFD0577 98 100 2 4.24
Supremo T7 CFD0578 42 44 2 3.74
Supremo T5 CFD0579 60 65 5 9.54
Supremo T1-2 CFD0580 196 202 6 1.29
Supremo T4 CFD0581 NSV or did not reach target depth
Supremo T7 CFD0582 84 86 2 3.48
Supremo T4 CFD0583 NSV or did not reach target depth
Supremo T7 CFD0584 104 105 1 2.44
Supremo T3 CFD0585 93 98 5 0.9
Supremo T4-5 CFD0586 127 133 6 3.89
Supremo T4-5 CFD0586 201 207 6 2.04
Supremo T5-7 CFD0587 30 34 4 4.23
Supremo T5-7 CFD0588 55 58 3 6.46
Supremo T7 CFD0589 37 46 9 0.82
Supremo T5-7 CFD0590 51 53 2 1.87
Supremo T3 CFD0591 145 149 4 3.66
Supremo T3 CFD0592 99 105 6 2.7
Supremo T3 CFD0592 114 122 8 2.75
Supremo T3 CFD0592 219 224 5 2.16
Supremo T4-5 CFR0804 103.63 115.82 12.19 3.35
Supremo T3 CFR0805 67.06 79.25 12.19 4.05
Supremo T3 CFR0805 89.92 103.63 13.71 1.06
Supremo T3 CFR0805 123.44 129.54 6.1 3.66
Supremo T3 CFR0806 77.72 99.06 21.34 0.97
Supremo T3 CFR0807 21.34 25.91 4.57 1.72
Supremo T3 CFR0808 21.34 27.43 6.09 2.95
Supremo T3 CFR0809 32 36.58 4.58 1.79
Supremo T3 CFR0810 64.01 74.68 10.67 2.07
Supremo T3 CFR0810 91.44 108.2 16.76 1.05
Supremo T3 CFR0810 117.35 120.4 3.05 3.83
Supremo T3 CFR0811 114.3 132.59 18.29 2.33
Supremo T3 CFR0812 129.54 134.11 4.57 4.18
Supremo T3 CFR0813 50.29 60.96 10.67 1.79
Supremo T3 CFR0813 102.11 109.73 7.62 4.45
Supremo T3 CFR0814 143.26 147.83 4.57 3.02
Supremo T3 CFR0815 71.63 74.68 3.05 15.67
Supremo T3 CFR0816 9.14 21.34 12.2 3.86
Supremo T3 CFR0817 70.1 77.72 7.62 3.45
Supremo T3 CFR0818 59.44 64.01 4.57 2.94
Supremo T3 CFR0819 59.44 62.48 3.04 5.72
Supremo T3 CFR0819 112.78 121.92 9.14 1.32
Supremo T3 CFR0820 NSV or did not reach target depth
Supremo T3 CFR0821 16.76 22.86 6.1 4.29
Supremo T3 CFR0822 88.39 91.44 3.05 3.79
Supremo T3 CFR0823 76.2 91.44 15.24 5.5
Supremo T3 CFR0823 150.88 153.92 3.04 7.98
Supremo T3 CFR0824 NSV or did not reach target depth
Double Double CFR0825 12.19 16.76 4.57 4.75
Double Double CFR0825 32 41.15 9.15 10.47
Supremo T3 CFR0826 25.91 35.05 9.14 1.06
Double Double CFR0827 54.86 57.91 3.05 9.31
Double Double CFR0829 NSV or did not reach target depth
Supremo T3 CFR0830 111.25 115.82 4.57 4.55
Supremo T3 CFR0830 128.02 160.02 32 2.77
Supremo T5 CFR0831 36.58 41.15 4.57 5.07
Supremo T7 CFR0832 51.82 54.86 3.04 4.52
Supremo T5 CFR0833 41.15 47.24 6.09 3.83
Supremo T7 CFR0834 NSV or did not reach target depth
Supremo T7 CFR0835 41.15 44.2 3.05 1.19
Double Double CFR0836 35.05 36.58 1.53 1.48
Double Double CFR0837 35.05 36.58 1.53 1.38
Supremo T7 CFR0838 NSV or did not reach target depth
Supremo T5 CFR0839 47.24 50.29 3.05 6.22
Supremo T7 CFR0840 155.45 158.5 3.05 3.52
Supremo T5 CFR0841 103.63 109.73 6.1 0.65
Supremo T4-5 CFR0842 89.92 94.49 4.57 2.93
Supremo T5 CFR0843 16.76 27.43 10.67 1.88
Supremo T5 CFR0843 124.97 128.02 3.05 3.53
Supremo T5 CFR0844 47.24 57.91 10.67 1.89
Supremo T5 CFR0845 47.24 50.29 3.05 3.77
Supremo T7 CFR0846 99.06 103.63 4.57 1.54
Supremo T4-5 CFR0847 33.53 59.44 25.91 1.59
Supremo T5 CFR0848 135.64 138.68 3.04 2.7
Supremo T7 CFR0849 NSV or did not reach target depth
Supremo T5 CFR0850 35.05 38.1 3.05 3.96
Supremo T4-5 CFR0851 114.3 128.02 13.72 1.27
Supremo T5 CFR0852 45.72 50.29 4.57 5.81
Supremo T5 CFR0852 60.96 67.06 6.1 5.04
Supremo T7 CFR0853 22.86 36.58 13.72 3.37
Supremo T5 CFR0854 NSV or did not reach target depth
Supremo T7 CFR0855 NSV or did not reach target depth
Supremo T4-5 CFR0856 54.86 60.96 6.1 0.66
Supremo T4-5 CFR0857 38.1 39.62 1.52 1.95
Supremo T4-5 CFR0858 6.1 13.72 7.62 1.98
Supremo T4-5 CFR0858 71.63 76.2 4.57 2.79
Supremo T4-5 CFR0859 NSV or did not reach target depth
Supremo T7 CFR0860 6.1 7.62 1.52 4.73
Supremo T4-5 CFR0861 91.44 112.78 21.34 1.41
Supremo T4-5 CFR0861 146.3 161.54 15.24 1.78
Supremo T7 CFR0862 153.92 158.5 4.58 1.78
Supremo T4-5 CFR0863 103.63 111.25 7.62 0.71
Supremo T4-5 CFR0864 59.44 60.96 1.52 7.34
Supremo T4-5 CFR0864 120.4 132.59 12.19 2.96
Supremo T4-5 CFR0865 147.83 155.45 7.62 2.17
Supremo T4-5 CFR0865 166.12 193.55 27.43 1.31
Supremo T4-5 CFR0866 24.38 38.1 13.72 2.38
Supremo T4-5 CFR0866 79.25 85.34 6.09 1.67
Supremo T7 CFR0867 4.57 7.62 3.05 2.52
Supremo T4-5 CFR0868 28.96 32 3.04 1.07
Supremo T4-5 CFR0869 86.87 92.96 6.09 2.84
Supremo T4-5 CFR0870 48.77 50.29 1.52 0.93
Supremo T1-2 CFR0871 65.53 71.63 6.1 1.01
Supremo T1-2 CFR0872 100.58 102.11 1.53 31.3
Supremo T1-2 CFR0872 111.25 146.3 35.05 1.6
Supremo T1-2 CFR0872 173.74 179.83 6.09 2.56
Supremo T7 CFR0873 NSV or did not reach target depth
Supremo T1-2 CFR0874 124.97 131.06 6.09 2.18
Supremo T7 CFR0875 97.54 99.06 1.52 3.23
Supremo T1-2 CFR0876 111.25 120.4 9.15 3.26
Supremo T1-2 CFR0877 62.48 65.53 3.05 4.76
Supremo T1-2 CFR0877 106.68 112.78 6.1 2.47
Supremo T7 CFR0878 44.2 47.24 3.04 3.45
Supremo T1-2 CFR0879 111.25 129.54 18.29 1.98
Supremo T7 CFR0880 118.87 126.49 7.62 1.26
Supremo T1-2 CFR0881 NSV or did not reach target depth
Supremo T1-2 CFR0882 137.16 146.3 9.14 4.07
Supremo T1-2 CFR0883 86.87 92.96 6.09 1.96
Supremo T1-2 CFR0883 114.3 121.92 7.62 1.69
Supremo T1-2 CFR0884 NSV or did not reach target depth
Supremo T1-2 CFR0885 74.68 82.3 7.62 3.22
Supremo T1-2 CFR0886 0 9.14 9.14 1
Supremo T1-2 CFR0887 57.91 62.48 4.57 1.35
Supremo T1-2 CFR0888 32 33.53 1.53 6.93
Supremo T1-2 CFR0889 12.19 15.24 3.05 0.91
Supremo T1-2 CFR0890 7.62 33.53 25.91 2.86
Supremo T1-2 CFR0890 59.44 60.96 1.52 7.55
Supremo T1-2 CFR0891 39.62 77.72 38.1 1.19
Supremo T1-2 CFR0892 80.77 82.3 1.53 5.02
Supremo T1-2 CFR0893 83.82 94.49 10.67 2.55
Supremo T1-2 CFR0893 160.02 164.59 4.57 4.17
Supremo T1-2 CFR0894 1.52 7.62 6.1 3.03
Supremo T1-2 CFR0895 18.29 19.81 1.52 4.24
Supremo T1-2 CFR0896 89.92 91.44 1.52 1.56
Supremo T1-2 CFR0897 117.35 118.87 1.52 3.02
Supremo T1-2 CFR0898 1.52 13.72 12.2 1.54
Supremo T1-2 CFR0899 48.77 50.29 1.52 2.71
Supremo T1-2 CFR0900 89.92 91.44 1.52 1.42
Supremo T1-2 CFR0901 24.38 25.91 1.53 2.16
Supremo T1-2 CFR0902 35.05 42.67 7.62 2.67
Supremo T1-2 CFR0903 92.96 96.01 3.05 2.79
Supremo T1-2 CFR0904 102.11 112.78 10.67 2.55
Supremo T1-2 CFR0905 59.44 60.96 1.52 5.01
Supremo T1-2 CFR0906 15.24 16.76 1.52 0.96
Supremo T1-2 CFR0907 59.44 64.01 4.57 1.85
Supremo T1-2 CFR0908 137.16 143.26 6.1 1.53
Supremo T1-2 CFR0909 114.3 118.87 4.57 1.91
Supremo T1-2 CFR0910 80.77 85.34 4.57 1.45
Supremo T1-2 CFR0911 97.54 103.63 6.09 1.64
Supremo T1-2 CFR0912 51.82 56.39 4.57 1.77
Supremo T1-2 CFR0913 NSV or did not reach target depth
Supremo T1-2 CFR0914 21.34 22.86 1.52 1.88
Supremo T1-2 CFR0915 42.67 51.82 9.15 3.65
Supremo T1-2 CFR0915 80.77 89.92 9.15 2.99
Supremo T3 CFR0916 30.48 32 1.52 1.33
Supremo T1-2 CFR0917 36.58 39.62 3.04 3.66
Supremo T3 CFR0918 NSV or did not reach target depth
Supremo T1-2 CFR0919 24.38 28.96 4.58 10.1
Supremo T3 CFR0920 24.38 27.43 3.05 1.41
Supremo T1-2 CFR0921 60.96 70.1 9.14 1.92
Supremo T3 CFR0922 99.06 103.63 4.57 14.26
Supremo T1-2 CFR0923 NSV or did not reach target depth
Supremo T3 CFR0924 45.72 47.24 1.52 5.08
Supremo T1-2 CFR0926 36.58 39.62 3.04 5.47
Supremo T1-2 CFR0927 36.58 42.67 6.09 0.83
Supremo T1-2 CFR0928 82.3 85.34 3.04 4.9
Supremo T1-2 CFR0929 25.91 32 6.09 0.83
Supremo T7 CFR0930 22.86 25.91 3.05 1.51
Supremo T1-2 CFR0931 15.24 35.05 19.81 2.12
Supremo T1-2 CFR0932 6.1 10.67 4.57 1.06
Supremo T7 CFR0933 21.34 32 10.66 1.66
Supremo T7 CFR0933 44.2 54.86 10.66 1.49
Supremo T1-2 CFR0935 89.92 91.44 1.52 9.38
Supremo T3 CFR0940 36.58 39.62 3.04 1.48
Supremo T3 CFR0942 105.16 106.68 1.52 7.35
Supremo T1-2 CFR0943 NSV or did not reach target depth
Supremo T3 CFR0944 68.58 73.15 4.57 6.97
Supremo T3 CFR0945 33.53 45.72 12.19 1.29
Supremo T3 CFR0946 NSV or did not reach target depth
Latte CFR0947 22.86 65.53 42.67 1.99
Latte CFR0949 85.34 102.11 16.77 1.88
Latte CFR0950 22.86 28.96 6.1 2.09
Latte CFR0950 35.05 48.77 13.72 1.07
Supremo T3 CFR0951 NSV or did not reach target depth
Latte CFR0952 12.19 28.96 16.77 6.16
Latte CFR0952 53.34 82.3 28.96 1.15
Latte CFR0952 89.92 94.49 4.57 2.65
Supremo T3 CFR0953 38.1 42.67 4.57 2.41
Latte CFR0954 103.63 109.73 6.1 0.65
Supremo T3 CFR0955 126.49 132.59 6.1 7.35
Latte CFR0956 51.82 53.34 1.52 8.15
Supremo T3 CFR0957 NSV or did not reach target depth
Supremo T7 CFR0959 47.24 57.91 10.67 3.19
Supremo T7 CFR0959 74.68 91.44 16.76 0.83
Supremo T7 CFR0961 97.54 100.58 3.04 2.72
2015 Kona North Exploration Drilling
Kona North CFD0601 57 58 1 1.75
Kona North CFD0602 85 104 19 2.41
Kona North CFD0602 112 119 7 1.88
* True width estimated at approximately 2/3 down-hole length.
Additional notes: 'CFD' drill hole prefixes equate to diamond core holes, 'CFR' equate to RC drill holes. RC drill holes are sampled on 5' drill rod lengths then converted to metric for input into the drill database. NSV equals 'No Significant Value'.

QA / QC

Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Tim Smith, P.Geo., Vice President Exploration of Kaminak Gold Corporation, 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.

On behalf of the Board of Directors of Kaminak

Eira Thomas, 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.

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.

Caution Concerning Forward-Looking Statements

Certain disclosures in this release, including management's assessment of the future potential of the Coffee Project, costs and timings for completion of the Coffee Project feasibliity study 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. Except as required by law, Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise.

The Company has not made a production decision, and the Company's strategic plan to develop a stand-alone heap leach operation is subject to the results of its Feasibility Study. Further, if and when the Company makes any production decision, it will disclose the basis of such decision in accordance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

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