Kaminak Gold Corporation

Kaminak Gold Corporation

October 08, 2009 09:00 ET

Kaminak Reports New High-Grade Gold Occurrences From the Coffee Property: Chip Sample Results Yield 11.45 g/t Au Over 5m

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 8, 2009) - Kaminak Gold Corporation (TSX VENTURE:KAM) is pleased to announce trenching results from the Supremo gold-in-soil anomaly on the Company's 100% owned Coffee property, located in the newly recognized White Gold District of the Yukon. Several drill-ready targets have now been identified within the 2km by 2km Supremo anomaly and these new assays are in addition to a 2.3 g/t Au over 21m trench result previously announced by Kaminak on August 13th 2009. Further trench results are expected in the coming weeks from the nearby Kona, Espresso and Latte anomalies.

Key Results:

- Chip sampling of sub-cropping trench material yielded 11.45 g/t Au over 5.0m.

- A second separate zone returned 1.37 g/t Au over 30m, including an interval of 7.54 g/t Au over 5m.

- A third zone yielded 0.53 g/t Au over 45m, including 1.40 g/t Au over 5m.

- Overall style and setting of gold mineralization resembles nearby discoveries made by Underworld Resources Inc.

Information regarding the orientation, true width or extent of these new gold zones is not currently known but they likely represent separate occurrences. The Company believes large-scale structural trends are important factors controlling the distribution of gold occurrences on the property. For example, each of these new gold showings occurs within, or is nearby separate east-west or northeast tending lineaments cross-cutting felsic granitic gneiss. These lineaments are traceable across the property and were defined by ground magnetic surveys completed in 2009. Maps and images are currently being updated and will be posted on the Company's website at www.kaminak.com when completed.

These trenching results have further validated the effectiveness of soil sampling as an exploration tool on the Coffee property. To date, only about one third of the property has been soil sampled resulting in the identification of nine separate gold-in-soil trends occurring over a total length of 10km. Trenching has been completed on four of these targets (Supremo, Espresso, Kona and Latte) and results have been released from the Supremo trend only, as results from the other targets are expected in the coming weeks. The 2009 field season is now complete and once all of the results have been received the Company will begin planning for the 2010 program which is expected to include additional soil sampling, trenching and diamond drilling.

Anomalous gold values in the Supremo region are associated with heavily bleached and weathered rock comprised primarily of sericite and quartz. This host rock is heavily altered; however, a progression from fresh felsic gneiss can be observed within the trenches. There also seems to be a correlation between high gold values and several pathfinder elements, including arsenic (As) and antimony (Sb). Overall, gold values for 486 total samples reported here ranged from below detection level to a high of 11.45 g/t Au. Sixty samples are considered anomalous (greater than 0.05 g/t Au) including thirty two samples that are considered significantly anomalous (greater than 0.1 g/t Au). Sampling consisted of continuous chip samples over 5m intervals of oxidized and weathered rubble sub-crop that is interpreted as being near in-place. Individual trench lines were oriented in a north-south direction overlapping soil sample lines and were spaced from 100m to 500m apart covering approximately half of the total area of the Supremo anomaly.


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. Rock samples were shipped to Acme Laboratories of Vancouver, B.C. for analyses. Samples were crushed and pulverized using a mild steel ring and puck mill. 30 gram aliquots were then weighed into fire assay crucibles and the samples are placed in a cupel and fired at 950 degrees Celsius. After cooling, 10 ml of HCl is added in order to dissolve gold particles. Solutions are analysed for Au on a Varian 735 ICP-ES. Certified reference materials are inserted into the batch and results were verified by a British Columbia Certified assayer. The Coffee property represents an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

About Kaminak

Kaminak Gold Corporation is an opportunity focused, prospect generator whose technical strength and entrepreneurial drive is complemented by a proven, successful business model designed to create shareholder value. The company has an extensive portfolio of discovery-stage projects that offer world-class exploration potential and present exposure to strategic commodities with an emphasis on gold.

Kaminak's financial discipline has enabled the company to acquire a healthy treasury, remain debt-free and maintain a very low corporate burn-rate. Well positioned to take advantage of the current market, Kaminak is actively engaged in seeking out market-friendly opportunities that are value-driven with high-potential for discovery.

On behalf of the Board of Directors of Kaminak,

Rob Carpenter, Ph.D., P.Geo., President and CEO,

Kaminak Gold Corporation

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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