Kenai Resources Ltd.

Kenai Resources Ltd.

October 01, 2010 16:11 ET

Kenai Appoints New Director and Announces Granting of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2010) - Kenai Resources Ltd. ("Kenai") (TSX VENTURE:KAI) is pleased to announce the appointment of David Paterson to Kenai's Board of Directors. Mr. Paterson is a Fellow of the Institute of Chartered Accountants in England and Wales and brings to Kenai more than thirty-five years experience in corporate finance.

Mr. Paterson founded HSBC Private Equity Management Limited ("HPEM") in 1987. HPEM became the largest private equity manager in South East Asia with over US$1,100 million under management, the majority of which came from US corporate and public pension funds. Mr. Paterson sold his shareholding in HPEM to HSBC in February 1998 and has since been retired. He has been a director of several publicly listed companies in Hong Kong, South Korea, London and Canada. He is currently a director of Chepstow Capital Advisors Limited and Interactyx Limited, a UK company involved in digital learning systems. In 2007, Mr. Paterson was appointed an Honorary Professor of The China University of Political Science and Law, Beijing.

Kenai further announces the granting of incentive stock options to its directors, officers, employees and consultants to purchase up to 1,200,000 common shares in its capital stock at a price of $0.265 per share, exercisable for a period of five years.

On behalf of the Board

Kenai Resources Ltd.

Daniel Kunz, Chairman and President

Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed and elsewhere in the company's periodic filings with Canadian securities regulators. The economic viabilities of the resources estimates discussed in the release have not been established and may not be. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The company does not assume the obligation to update any forward-looking statement.

Shares Outstanding: 31,231,734

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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