Telkwa Gold Corporation
TSX VENTURE : TKW

Telkwa Gold Corporation

November 14, 2006 14:08 ET

Telkwa Continues Drilling at Buckskin North - Advances Iron Cap - Appoints New Advisor

CALGARY, ALBERTA--(CCNMatthews - Nov. 14, 2006) -

This news release is not for dissemination in the United States or to any United States news service.

Telkwa Gold Corporation (TSX VENTURE:TKW) announces that it has completed diamond drill hole B-1 at its "Buckskin North" property, Nevada to a depth of 1100 feet with excellent recovery of the HQ core. Selected samples of the core sections that were split have been sent for analysis. Results will be announced after they are received and interpreted. Hole B-2 has commenced at an angle of -60 degrees to the West in order to test the same zones of interest at a shallower depth that were identified in the historical drilling and Hole B-1. Telkwa has expanded the property by an additional four claims.

Telkwa's 100% controlled "Buckskin North" property is located approximately 10 miles Northwest of Yerington, Nevada and 45 miles Southeast of Reno, Nevada. The gold occurrence at "Buckskin North" was first recognized visually in 1974 during logging of the hole (D-314) and the three foot interval assayed 540 ppm gold (15.75 oz/t). This high grade interval was within an interval of 16 ft of 2.76 oz/t gold. During that time, the Anaconda Copper Company drilled a total of five widely spaced holes and three deflections to confirm gold mineralization over 2500 feet along the apparent strike of the trend.

On the "Iron Cap" property, which lies about 2 miles east of the "Buckskin North" property, an additional 13 claims were added to cover additional prospective ground identified from the summer program of soil geochemistry and prospecting. New gold and copper anomalies were identified. A multi-station gold in soil anomaly up to 240 ppb was identified along the edge of the survey which will now be extended. A multi-station anomalous copper zone was identified with values up to 5600 ppm. A short program of prospecting, mapping and extending the soil grid will be immediately undertaken in order to define potential drill targets. A short review of the property will be posted on the website in the near future.

Telkwa is pleased to announce that Dr. William Mercer has agreed to join our Advisory Board. Bill Mercer, P. Geo. (Ont.), is a geological consultant based in Oakville, Ontario. He obtained a BSc in geology (Edinburgh University, 1968) and a PhD (McMaster University, 1975). Since graduating, he has been employed continuously with Mattagami Lake Mines, Noranda and then Falconbridge. He worked for Mattagami and then Noranda in exploration managerial positions in western Canada. Later, for Noranda, he was Director - Latin America Exploration, Director - International Exploration then Chief Geologist. After the merger of Noranda and Falconbridge he became Director, Geology and Geochemistry for Falconbridge where he supervised the Geological Services Group. His work has taken him to almost every continent, to over 30 countries and involvement in exploration and assessment of deposit types including porphyry Cu, Cu-Au and Mo, VMS and sedex base metal deposits, epithermal gold, bauxite and lateritic nickel. Bill retired from the company in 2006.

He was President of the Prospectors and Developers Association in 2002-2004 and honoured with the Distinguished Service Award in 2006. He is a member of the Natural Resources Canada, Minister's National Advisory Board for Earth Sciences.

Michael Marchand, Ph.D. P. Geol., President of Telkwa Gold was the qualified person who reviewed the the information in this press release.

Telkwa Gold Corporation's current exploration focus is Nevada where it has four properties and it also has two exploration properties located in British Columbia. Telkwa maintains its website www.telkwagold.com with corporate information, reports and images of our exploration projects.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

This news release is not for dissemination in the United States or to any United States news service, and does not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction. The common shares of Telkwa Gold Corp will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom.



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