Archive for October, 2010

PACIFIC RIDGE REPORTS FULL EXERCISE OF OCTOBER 21ST SHARE PURCHASE WARRANTS

Pacific Ridge Exploration Ltd. has received $359,375 from the exercise of 1,437,501 share purchase warrants with an exercise price of 25 cents and an expiry date of Oct. 21, 2010. The company now has 37,090,077 common shares issued and outstanding.

On Sept. 20, 2010, it was previously reported that 700,000 share purchase warrants were exercised at a price of 25 cents per share with the company then receiving gross proceeds in the amount of $175,000.

With respect to the Pacific Ridge Mariposa, Gold Cap and Polar/Steward properties located within the Yukon’s South Klondike-White Gold area, additional assay results from trench sampling and soil sampling surveys remain pending, and will be reported when received and compiled during the balance of this year. Plans for the Pacific Ridge 2011 exploration program are under way, additional exploration staff have been engaged and the company will soon issue a request for tenders from diamond drilling contractors.

Pacific Ridge’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by George Norman, PGeo, Pacific Ridge’s exploration manager, 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, duplicates and standards into trench sample sequence. Samples are placed in sealed bags and shipped directly to ACME Labs’ preparatory laboratory in Whitehorse prior to gold fire assay fusion by ICP-ES analysis. The Mariposa property is an early-stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

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HINTERLAND SAMPLES UP 796PPB AU IN SOILS AT BALLARAT PROPERTY IN WHITE GOLD DISTRICT OF YUKON

Hinterland Metals Inc. has released final results from the 2010 exploration program on the 200-claim (4,140 hectares) Ballarat property located approximately 100 kilometres due south of Dawson City in the White Gold district of Yukon. Approximately 15 kilometres due north of Ballarat is Kinross’s White Gold deposit with a current resource estimation at the Golden Saddle zone of 1,004,570 indicated ounces at 3.2 grams per tonne (g/t) Au and 407,413 inferred ounces at 2.5 g/t Au; and at the Arc zone of 170,470 inferred ounces at 1.2 g/t Au (Underworld press release — Jan. 19, 2010). Kaminak’s discovery hole of 15.5 metres over 17.1 g/t Au at the Supremo zone is located about 20 kilometres southwest of Ballarat.

The program comprised 30 kilometres of line cutting, 961 deep-auger-type soil samples and 750 metres of mechanical trenching. The soil sampling was completed at 25-metre stations along cut lines that average 90 metres apart. Two very strong gold-in-soil anomalies were outlined. Each anomaly appears to trend east-west for a minimum distance of 1,000 metres on the property. The southern anomaly is the best defined with maximum values up to 796 parts per billion (ppb) Au. The northern anomaly has numerous high values up to 188 ppb Au. Preliminary sampling completed in the same area by Hinterland in 2009 returned maximum values of only 68 ppb from an average sample depth of 30 centimetres. In contrast, the 2010 samples were taken from an average depth of 60 centimetres and, based on the enhanced results, appear to have sampled the deeper, less weathered, less oxidized, more representative C horizon of the soil profile.

Four trenches were dug at 50-metre intervals along a strike length of 160 metres. Fifty-nine rock samples were collected in total. At the far north end of the trenches, a mineralized structure was exposed at the contact of chlorite schist to the north and rusty muscovite schist to the south. The structure is marked by quartz-carbonate veins and breccias and massive stibnite (antimony) mineralization. Several samples returned antimony values above the upper detection limit of 2,000 ppm Sb, but no significant gold values were obtained. Clearly, the structure exposed by the trenching is not the source of the gold-in-soil anomalies. The only notable result of the trenching was 1.3 g/t Au from a one-metre-wide quartz vein exposed at the south end of the second trench. The trenching was completed before the 2010 soil geochemical results were received and did not at all test the gold-in-soil anomalies described above.

“The excellent soil sample results obtained in 2010 clearly define two very strong, untested gold anomalies and have greatly improved our ability to pick prospective drill targets,” comments Mark Fekete, president.

All analytical work was completed at Acme Analytical Laboratories Ltd. in Vancouver, B.C. Acme is accredited under ISO 9001. Soil samples were prepared by drying and sieving 100 grams to minus 80 mesh. Rock samples were prepared by crushing one kilogram to 80 per cent passing minus 10 mesh and then pulverizing a 250-gram subsample to 85 per cent passing minus 200 mesh. Both soils and rocks were analyzed for 36 elements (including gold) by 15-gram aqua regia digestion, ICP-MS finish. The rocks were also analyzed for gold by 30-gram fire assay, ICP-ES finish. Mr. Fekete, PGeo, is the designated qualified person as defined in Section 1.2 in and for the purposes of National Instrument 43-101 responsible for the technical content of this release.

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NORTHERN TIGER RESOURCES MAKES TWO SEPARATE PRECIOUS METAL DISCOVERIES AT SONORA GULCH, YUKON

Northern Tiger Resources Inc. has received all assays from drill programs at the Sonora Gulch and DAD properties. Highlights include two drill hole discoveries of gold mineralization in areas not previously drilled by the company. In addition, long intercepts of anomalous copper and molybdenum were intersected in porphyry-style alteration that further demonstrates the property’s porphyry potential.

 

                                     Width  Gold  Silver  Copper Molybdenum 
             Hole No.   Interval (m)    (m) (g/t)   (g/t)   (ppm)      (ppm)
Gold                                                                        
intercepts   SG-10-53 194.5 - 210.5   16.0   1.9     6.1     255         13 
             SG-10-55 115.0 - 121.0    6.0   7.6   155.5     548          4 
Copper/moly                                                                 
intercepts   SG-10-51   0.0 - 288.0  288.0     -     0.8     245         19 
             SG-10-53 146.5 - 176.5   30.0     -     1.6     802         88 
             SG-10-54    7.0 - 95.0   88.0     -     0.9     313         13 
             SG-10-56 205.0 - 283.0   78.0     -     0.9     403         24

 

“We are very pleased that Northern Tiger’s exploration team has discovered significant gold mineralization in two separate areas that were not previously drilled. These new drill hole discoveries demonstrate the significant potential for discovery of gold mineralization within the nine-square-kilometre gold-in-soil anomaly NTR has outlined on the property,” says Greg Hayes, president of Northern Tiger. “The identification of characteristic porphyry alteration assemblages combined with sizeable intercepts of anomalous copper and molybdenum has also met the primary objective of the 2010 drill program and demonstrates that a porphyry copper-gold-molybdenum system is at the heart of Sonora Gulch’s mineralization. Our very first and modest drill program to look at the project’s porphyry potential is encouraging. We have demonstrated potential for two separate but related exploration targets and we are analyzing results to define potential ore-grade base metal and precious metal targets.”

Northern Tiger owns 100 per cent of the Sonora Gulch project, which is located in the central Yukon’s Dawson range. Twelve diamond drill holes totalling 2,875 metres were collared in 2010. Two of the 12 holes were abandoned at shallow depths due to difficult drilling conditions. The program was primarily designed to test for the presence of a porphyry copper-gold-molybdenum system as suggested by surface geochemical exploration results. Two of the 12 holes also intersected significant gold mineralization.

Previous work by Northern Tiger has outlined an east-to-west nine-square-kilometre (six km by 1.5 km)-striking soil anomaly defined by anomalous gold and silver plus/minus arsenic, antimony, bismuth and tellurium located around a central zone of anomalous copper and molybdenum (2 km by one km). Within this area a characteristic progression of increasing alteration was noted. Propylitic alteration (epidote, chlorite, calcite) and argillic alteration (illite, muscovite, kaolinite) is associated with the gold anomalies. Phyllic (quartz, sericite, pyrite) alteration is progressively stronger toward the inner copper and molybdenum soil anomalies. The majority of the holes drilled in 2010 cored well-developed alteration and some mineralization (5 to 25 per cent pyrite plus/minus base and precious metals) hosted by Wolverine Creek meta-volcanic and meta-sedimentary rocks. Deeper holes within the porphyry target area intersected patches of moderate to strong potassic alteration (feldspar, biotite/phlogopite, chlorite, gypsum) and skarn mineralization. Variable amounts of quartz veining and fracture controlled chalcopyrite and molybdenite mineralization, typical of porphyry copper mineralization, were also noted in many holes.

A number of the drill holes targeted anomalies identified by a deep-penetrating geophysical survey done by Quantec Geosciences Ltd. and also tested radiometric and magnetic targets identified from a 2009 airborne geophysical survey. Quantec recommended a total of 29 drill holes (including 14 high-priority holes) to test chargeability anomalies identified by the Titan 24 survey. Due to the relatively modest size of drill program versus the large number of promising targets, and logistical limitations of using a skid-mounted drill, only five of the recommended Titan 24 chargeability targets were drill tested in the 2010 drill program. The balance will be considered for drilling in 2011. The two new gold discoveries are also obvious targets for further follow-up.

A location map and table of the drill results are available at the company’s website.

DAD project

A two-hole (404-metre) diamond drilling program was completed on the DAD property to test an induced polarization anomaly coincident with a copper-in-soil geochemical anomaly. The holes cored short lengths of the target Granite Mountain batholith (host to the Minto copper-gold deposits) before intersecting an underlying sequence of pyrite-rich meta-sedimentary rocks. This unit — which is interpreted to be the source of the chargeability anomaly — is not mapped on the surface in the area, either locally or regionally. Copper values up to 363 parts per million and gold up to 103 parts per billion were returned over short intervals. The company is reassessing this target.

3Ace project

The diamond drill program planned for the 3Ace project has been completed with three holes collared into the Main zone and six holes into the Sleeping Giant zone for a total 1,240 metres. All nine holes intercepted the target quartz vein structures and also revealed additional smaller but discrete quartz veins filling the intensely fractured, quartz-flooded host rocks. This is a feature not noted in surface mapping, probably due to the poor bedrock exposure. All drill core has been shipped to Whitehorse where it is being logged and split for assay. Initial assay results are expected soon and it is the company’s intention to release them in two separate batches, one for the Main zone and one for the Sleeping Giant zone.

This news release has been reviewed and approved by Dennis Ouellette, BSc, PGeol, a qualified person as defined by National Instrument 43-101. Samples from Sonora Gulch were analyzed by ALS Chemex of North Vancouver, B.C., Canada, using 50-gram fire assay and 35-element ICP analysis. Samples from 3Ace were analyzed by Inspectorate America Corporation of Richmond, B.C., using 50-gram fire assay and 50-element, four-acid ICP analysis. Samples returning in excess of 30 grams per tonne gold are also sent for metallic screen fire assay testing.

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Central Resources Announces Additional Results from Phase 1 Soil Sampling Program at Selwyn Creek Gold Project, Yukon

Central Resources is pleased to announce additional results from the initial program of soil sampling at the Company’s 522-claim (10,917 hectares) Selwyn Creek Gold project in the White Gold Area of central Yukon. The latest results for the East Zone of the “L” Block extend the existing gold anomaly by approximately 400m, defining a roughly linear, greater than 20 ppb gold anomaly, at least 1,000 metres in strike length.

As previously reported, results of up to 470 ppb gold and 1,045 ppm arsenic were obtained from soil samples collected over a 900 metre by 1,700 metre grid in the East Zone of the “L” claim block, and a roughly 500 metre by 500 metre greater than 20 ppb gold anomaly was outlined which extended off the grid to northeast.

The grid was subsequently expanded by 300 metres to the north and east, and an additional 74 samples collected. These results now define a roughly linear northeast trending, greater than 20 ppb gold anomaly, at least 1,000 metres long and up to 500 metres wide, which remains open to the northeast and southwest. Within this anomaly, 16 samples ran greater than 50 ppb gold and 6 samples ran better than 100 ppb gold. A map showing the latest results will be available on the Company’s website shortly.

“Geochemical sampling on the “L” Block has identified a kilometre scale, coincident gold/arsenic soil anomaly similar to those observed on Kaminak’s Coffee project, where subsequent trenching and drilling led to the discovery of several zones of bedrock mineralization” said Paul Reynolds, President and CEO of Central Resources. “It is important to note that our Selwyn Creek properties are located in the same belt of highly prospective host rocks as the Coffee Project and that only a small portion our properties have been soil sampled to date. Obviously, this area warrants further work and we look forward to getting back on the ground for more detailed work as soon as possible next year.”

 
The Selwyn Creek Gold project consists of 6 separate claim blocks (J, K, L, M, N, O) located in the Dawson Range, south of the Yukon River and centred on Selwyn Creek. The properties were staked on the basis of historic anomalous soil and sediment sampling conducted by Archer Cathro & Associates Ltd. in the mid 1980’s. Central has the right to earn a 100% interest in the properties from Strategic Metals Ltd., by making payments of $300,000 cash and 3,000,000 shares by February 15, 2012.

Recent soil and rock sample analyses were conducted at ALS Chemex in North Vancouver, BC. Samples were initially analyzed for gold by fire assay followed by inductively coupled plasma-atomic emission spectroscopy (Au-ICP21) and for 35 other elements by inductively coupled plasma-atomic emission spectroscopy (ME-ICP41). Field work was supervised by Heather Smith, P.Geo., of Archer, Cathro, who is a Qualified Person under the definition of National Instrument 43-101. Ms. Smith is responsible for all aspects of the work including the quality control/quality assurance program, which includes the use of international and in-house standards. Peter Thiersch, M.Sc., P.Geo., the Qualified Person and Vice President of Corporate Development for Central Resources, has reviewed and approved the technical disclosure made in this press release.

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KAMINAK DRILLS FOURTH GOLD DISCOVERY ON THE COFFEE PROPERTY: KONA DRILLING YIELDS SEPARATE ZONES OF 2.2 G/T AU OVER 57M AND 1.9 G/T AU OVER 23M

Kaminak Gold Corp. has released results from the fourth significant drill discovery on the company’s 100-per-cent-owned Coffee property, located in the White Gold district, Yukon Territory. The Kona zone occurs three kilometres west of the Latte zone and is defined by a strong, linear gold-in-soil anomaly traceable for at least two kilometres through granite. Three holes were drilled into the Kona target and each intersected gold mineralization. All zones begin at surface and remain open along trend and at depth.

Key point summary:

 

  • New gold zone discovered on the Coffee property known as Kona, where drilling intersected two separate gold zones grading 2.2 grams per tonne gold over 57 metres and 1.9 g/t Au over 23 metres, respectively;
  • Gold grades as high as 28 g/t Au over two metres;
  • Total strike length of untested Kona gold-in-soil trend exceeds two kilometres;
  • Mineralization at Kona is associated with a regional-scale east-northeast-trending structural corridor which also trends through the nearby Espresso anomaly;
  • Alteration and sulphide/oxide characteristics at Kona are similar to those at other known gold occurrences at Coffee, suggesting a common mineralizing event;
  • Assays are pending for drilling on the nearby Americano and Espresso targets, as well as additional holes from the Supremo-Latte area;
  • On Wednesday, Oct. 13 at 12:45 p.m. Pacific Time, Rob Carpenter, Kaminak’s president and chief executive officer, will be presenting the Coffee gold project discoveries to the Vancouver Mineral Exploration Group (MEG). For those who cannot attend this industry event, the presentation will be aired live through a webcast. To view the event, please visit the Kaminak website on the designated date and time and click on the link on the home page.

 

“We have now successfully intersected four major gold zones on the Coffee property over a total distance exceeding five kilometres. These results clearly establish potential for Coffee to become a significant gold camp,” stated Mr. Carpenter. “Kaminak has started to plan a much larger exploration program for 2011 and details will be announced once all results from 2010 are processed.”

Kona zone

Drill testing the extensive gold-in-soil anomalies at Kona has yielded a new gold mineralizing environment in the Coffee exploration camp (that is, granite hosted). Gold mineralization is hosted in near-vertical brittle structural zones that are co-incident with overlying gold-in-soil anomalies. Drill holes CFD-51 and CFD-53 were drilled from the same set-up at minus 50 and minus 70 degree angles, respectively, and both holes intersected two separate gold zones which are interpreted as steeply dipping zones within the host structure.

The granite that underlies the Kona area is equigranular, non-magnetic and composed of plagioclase, K-feldspar, quartz, biotite and hornblende. Alteration typically consists of clay, sericite and limonite. The limonite yields downhole to coarsely banded sporadic limonite-pyrite transition material to deeper pyrite-dominant rocks at approximately 110 metres. Thus the depth of oxidation is approximately 110 metres (downhole). Sulphides are dominated by pyrite, which commonly replaces mafic minerals, and also occurs as veins/veinlets or fracture fill, and in sulphidic-matrix fault breccias.

 

                    KONA DRILL RESULTS

                                                    Weighted
                                           Length      grade
Drill hole No.  Zone   From (m)   To (m)      (m)      (g/t)

CFD-46          Kona         56       59        3       1.21
                            113      118        5       1.87
CFD-51          Kona          9       34       25       0.47
and                          67       85       18       1.05
CFD-53          Kona       3.25       60    56.75       2.21
incl                         40       60       20       4.51
incl                         41       43        2      28.45
and                         156      179       23       1.92

Note: True widths are estimated at 50 per cent to 70 per
      cent of core length.

 

A total of six holes were also completed on regional targets located north and east of Kona. This drilling targeted a regional-scale, northwest-trending shear zone interpreted as a possible extension of the Latte shear zone located three kilometres to the southeast. Drilling successfully intersected highly deformed and altered shear zone rocks that separate granite to the south from schist/gneiss to the north. Gold values (one to three g/t Au) were obtained in four of the six holes thereby confirming the gold potential of the Latte structure well beyond the previously known limits.

Detailed plan maps, cross-sections and assay sheets of Kona and the regional holes as well as a photo montage of select core samples are available on the Kaminak website at www.kaminak.com.

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.

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ARCUS DEVELOPMENT GROUP INC.: DAWSON GOLD TRENCHING PROGRAM REMAINS UNFINISHED

Arcus Development Group Inc. has received all of the results from the 2010 trenching work at its Dawson gold project. The Dawson gold project consists of the Touleary, Dan Man, Green Gulch and Shamrock properties, all located in the White gold area, Yukon.

Mechanical trenching programs were initiated at each of the Touleary, Dan Man and Green Gulch properties during the summer of 2010. No work was undertaken on the Shamrock property during 2010.

Arcus management considers the 2010 excavator trenching program at the Dawson gold project a qualified success. Gold zones requiring additional work were identified in trenches at each of the Touleary and Green Gulch properties. However, as a result of frozen ground conditions, the majority of the gold-in-soil anomalies could not be tested to target depth or extension. All unfinished trenches will be completed and sampled as part of the 2011 work program. Over the course of the winter, Arcus and its geological consultants will investigate alternative methods to excavator trenching for testing gold-in-soil geochemical anomalies in frozen ground.

The results of the 2010 trenching programs follow.

Touleary property

Four trenches totalling 562 metres were completed and 138 samples were collected. As reported in Stockwatch on Aug. 25, 2010, 42 samples from trench 4 (TL-10-04) were collected over a trench length of 204 metres. A 34-metre section of that trench yielded a weighted-average grade of 0.82 gram per tonne (g/t) gold and 14.3 g/t silver. Within the 34-metre section were two five-metre sample intervals that assayed 2.59 g/t gold with 20.0 g/t silver as well as 1.025 g/t gold with 28.8 g/t silver.

An additional 86 samples were collected from trenches TL-10-03, TL-10-05 and TL-10-06 over a combined length of 358 metres. None of these samples returned any significant assay values as the trenches were not completed to the intended target depths or areas. Trenches TL-10-01 and TL-10-02, totalling 550 metres in length, were not sampled as these trenches were not completed to bedrock due to frozen ground conditions.

Green Gulch property

The company collected 128 samples from four trenches at the Green Gulch claim block. The combined length of the four trenches was 628 metres. Assay results from a 20-metre section of trench 2 (GG-10-02) yielded a weighted-average grade of 0.294 g/t gold. No significant assay results were returned from any of the other three trenches at Green Gulch.

Dan Man property

Three trenches totalling 598 metres in length were sampled at the Dan Man property. No significant assay results were returned from any of the 120 trench samples collected. Due to frozen ground conditions, none of the Dan Man trenches were completed to the intended target depth or areas.

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STINA COMPLETES CORE DRILL PROGRAM ON DIME PROPERTY

Stina Resources Ltd reports that exploration drilling on the Dime property located in the White Gold District has been completed The drill program was conducted from September 8 to September 16, 2010, and included five core drill holes totaling 657 meters from three separate drill pads.

Two pads were located on the Western anomaly to test coincident soil and trench sample anomalies. Drill holes DDH-10-01 and DDH10-02 were located over anomalous zones defined through soil and trench sampling.

Holes DDH-10-03 and DDH-10-04 were drilled approximately 185 meters to the east of the first two holes again targeting anomalous soil and trench samples. All holes on the western anomaly intersected a strongly silicified and brecciated quartz serecite schist zone containing up to 3% disseminated pyrite. The silicified and brecciated zone is up to 20 meters in width and is steeply south dipping.

One hole DDH-10-05 was collared on the Eastern Anomaly 2.5 km east of the Western anomaly and intersected strongly clay and serecite altered granite porphyry with rafts of silicified meta-sedimentary rocks.

Core samples were collected over 1.5 meter intervals and are being processed and analyzed by Acme Analytical Laboratories Ltd. Results are expected in approximately three to four weeks and will be reported when they are received.

Drill hole locations can be viewed at www.stinaresources.com/drillmap2010.jpg

On the Kodiak property located directly south of the Underworld (Kinross) Golden Saddle Zone, and directly north of the Kaminak Coffee Gold Property, soil sampling and trenching have been completed and results are pending.

There has been insufficient exploration to define a Mineral Resource on the Dime Property, and it is uncertain as to whether, or not, further exploration will result in the discovery of a Mineral Resource on the property. Al Doherty of Dawson, YT. is a designated Qualified Person acting for the Company and assisted in the preparation of this news release.

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HINTERLAND STAKES ADDITIONAL CLAIMS AT BALLARAT PROJECT IN WHITE GOLD DISTRICT OF YUKON

Hinterland Metals Inc. has staked an additional 106 claims adjacent to its Ballarat gold property located approximately 100km due south of Dawson City in the White Gold District of Yukon. Included in this staking are several key fractional claims located at the northwest corner of the property. Hinterland has effectively doubled the size of Ballarat to 200 claims enclosing an approximate area of 4140 hectares. Ballarat covers the southeastern slopes of Thistle Mountain. Historical cumulative placer gold production from creeks draining Thistle Mountain including Ballarat, Thistle, Kirkman, Sparkling and Barker is reported to be 104,604 ounces in the period 1913 to 2006 (Compiled from Yukon Placer Mining Industry volumes published by Indian and Northern Affairs Canada).
Hinterland has also staked two new properties in the White Gold Area. The 38 (787ha) “Divide” claims cover a ridge that divides Thistle and Barker creeks approximately 7km north of Ballarat. Both creeks currently have active placer mines in operation and have seen significant past production of placer gold. The 38 (787ha) “Erin” claims are located just north of the Stewart River approximately 10km northeast of the Golden Saddle deposit held by Kinross. Hinterland also holds 10 claims (207ha) located on Coffee Creek. These are enclosed by Kaminak’s Coffee property and are located approximately 5km east of Kaminak’s new Supremo discovery.
Mark Fekete, P.Geo is the designated “qualified person” as defined in Section 1.2 in and for the purposes of National Instrument 43-101 responsible for the preparation of this release.

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Trenching Defining Gold Zones at Mariposa GOLD

Pacific Ridge Exploration Ltd. (TSX Venture: PEX) reports gold assays received for the first two of five trenches recently excavated on its Mariposa property  located in the White Gold area of Yukon’s South Klondike.

Assays from backhoe trenching are reporting broad intervals of gold mineralization  within  the open-ended, 1100 by 600 metre, Skookum Jim geochemical  anomaly which contains  gold-in-soil values reaching 1,500 ppb (parts per billion) gold.

Trench SJ-2 was excavated 590 metres in length within which the following gold zones have been identified:

                                   Interval (metres)          Length (metres)      Gold (grams/tonne; fire assay)  
                                            150 -255                         105                                  0.67
Includes                             150- 200                          50                                   0.91
Including                            150- 180                          30                                   1.25
                                             225- 255                          30                                   0.76
Includes                             225- 235                          10                                   1.17

Trench SJ-2 was excavated to an approximate one metre depth with composite rock samples collected over 5-metre intervals. Sections of subcrop and rubble indicate near bedrock sources. Rock type within zones hosting gold values consists of altered and oxidized gneiss, schist and quartzite which host quartz veining, stockwork fractures and breccia with minor sulphide mineralization and hematite. The presence of widespread limonite as disseminations and fracture fills, as well as quartz stockworks and both hydrothermal and tectonic breccias provide clear evidence that brittle deformation and hydrothermal activity has affected this area.

Trench SJ-2  comprises a significant target for diamond drill testing  early in the 2011 field season.

Trench SJ-1, located 200 metres west of trench  SJ-2 was excavated over a 240 metre length reporting  anomalous gold, averaging 3210 ppb  over 5 metres from 20 to 25 metres and 492 ppb Au over 5 metres from 155 to 160 metres within altered zones exhibiting quartz veining.

Assays are pending for trenches S-J  3, 4, and 5 .

One trench was completed within the Maisy May gold-in-soils anomaly, for which assays are pending.

Pacific Ridge will report trench assays and additional soil sampling results as will be received during the balance of the year.  With the onset of winter conditions on-going exploration in the field will see resumption during the spring of 2011.                                                                                                                                                                                                  

“John S. Brock”
John S. Brock
President

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Kaminak Continues to Intersect Wide Intervals of Gold Mineralization at Latte

Upper Latte:
CFD-35: 1.4 g/t Au over 81m, including 2.0 g/t Au over 21m
CFD-44: 1.8 g/t Au over 58m, including 2.3 g/t Au over 37m
CFD-45: 1.1 g/t Au over 93m, including 1.3 g/t Au over 49m

Lower Latte:
CFD-40: 8.1 g/t Au over 2m and 10.5 g/t Au over 1m
CFD-48: 5.5 g/t Au over 9m, including 15.4 g/t Au over 2m
CFD-50: 8.2 g/t Au over 5m, including 18.5 g/t Au over 1m

Kaminak Gold Corporation (KAM: TSXV) is pleased to report assays from step-out drilling on the Latte trend, located on the Company’s 100% owned Coffee property (White Gold District, Yukon Territory). The Latte trend is one of three significant gold discoveries made to date by Kaminak in 2010 on the Coffee property. The other two discoveries are the Supremo and Double Double trends, which are located approximately 1.5km north and east of the Latte trend, respectively. To date, 17 drill holes have been completed at the Latte Zone over 600m strike length and all holes have intersected gold mineralization.

Key Point Summary

Mineralized areas are assigned to an Upper Latte bulk-tonnage gold zone and a Lower Latte high-grade gold zone.
The Latte gold zones begin at surface, dip steeply to the south and are open in all directions for at least 600m along trend.
Latte is located along a regionally-significant >8 km structure, of which several hundred meters have been tested.
The 2010 drill season is now complete and a total of 76 holes were drilled. Additional assays from Kona, Americano, Espresso and the Supremo-Latte Areas are pending.
“Drilling has confirmed a high-grade zone is present at Latte,” stated Rob Carpenter, Kaminak’s President & CEO. “Both the upper and lower zones begin at surface and can be traced for at least 600m along trend while remaining open at depth. Furthermore, the most westerly holes of the upper zone appear to have the widest mineralized intervals to date suggesting the system may be larger than currently known.”

The Latte Zone is associated with a regionally-significant, east-west trending structural corridor co-incident with a 1km long by 100m wide gold-in-soil anomaly. Gold mineralization is preferentially concentrated in the structural corridor, associated with silicification and (oxidized) sulphides hosted in brittle fractures and breccia zones that overprint older strain fabrics. Two gold environments are described as follows:

Upper Latte: Wide gold intervals are hosted in high-strain feldspar-muscovite-quartz rocks associated with silicification, brecciation and extensive limonite microfracture networks (after pyrite).
Lower Latte: Narrow, high-grade gold intervals are hosted in structurally-lower intervals of biotite-feldspar schist associated with brecciation, clay alteration and abundant fine-grained sulphide (dominated by pyrite).

The high-grade zones (Lower Latte) are interpreted as possible feeder structures below bulk-tonnage-style mineralized zones (Upper Latte). Contrasting mineralization styles may be related to host rock composition and/or rock competency differences.

QA/QC

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. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly by charter plane to the ALS CHEMEX preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

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