Kaminak Drilling Continues to Extend the Latte Zone Along Trend with Higher Grades: New Intercepts Include 2.35 g/t Au over 51m and 1.27 g/t Au over 78m


Vancouver, B.C.  – Kaminak Gold Corporation (KAM: TSX-V) is pleased to announce assay results from four new step-out holes drilled on the newly discovered Latte Zone, located on the Company’s 100% owned Coffee property, Yukon Territory. A total of seven holes have now been completed at Latte over a 400m length and every hole has intercepted wide intervals of oxidized gold mineralization and the zone remains open in all directions. The Latte Zone was discovered by drilling below a strong ~1km linear gold-in-soil anomaly. Ground magnetic surveys suggest mineralization continues beyond the 1km soil anomaly below deeper soil cover which may be masking the extensions of the main anomaly. Moreover, this structure is co-incident with strong gold-in-soil anomalies at the Kona zone located 6km west of Latte. Additional in-fill soil sampling between Kona and Latte is currently underway.

Kaminak will host a news release presentation in Vancouver, British Columbia on Tuesday, July 6th at 1:00pm Pacific Time (4:00pm Eastern Time) to outline the significance of the drill results announced today.  For those who cannot attend the event, the presentation will be aired live on the Kaminak website.  Details regarding the event and live video webcast are located at the end of this release and on the Kaminak website, www.kaminak.com.

 Drill Results

  • CFD-009 – 1.12 grams per tonne gold (g/t Au) over 40m with hole beginning in mineralization
  • CFD-010 – 3.71 g/t Au over 16m starting at 119m depth
  • CFD-011 –  2.35 g/t Au over 51m starting at 38m depth
  • CFD-012 – 1.27 g/t Au over 78m starting at 24m depth plus a newly recognized high-grade deep zone yielding 17.4 g/t Au over 1m starting from 176m depth

Key Point Summary

  • Latte step-out holes extend strike length of strongly oxidized mineralization for a total of 400m and mineralization remains open in all directions
  • Gold at Latte is associated with an untested 10km long structure known as the “Latte shear zone”
  • The drill is currently located on the Supremo Zone and is  focused on extending the strike length of high-grade and shallow gold mineralization
  • A total of 21 drill holes have been completed on the Coffee property. Additional assay results are pending from the Double Double zone and Supremo zone.
  • Second drill planned to mobilize to the Coffee property in mid-July

The Latte Zone is associated with a regionally-significant, east-west trending structural corridor co-incident with a 1 km long by 100m wide gold-in-soil anomaly. Gold mineralization is preferentially concentrated in the structural corridor and consists of silicification and oxidized sulphides hosted in brittle fractures and breccia zones that appear to overprint older fabrics.

Drill hole CFD-009 to CFD-012 were drilled facing north and were designed to test the strike extent of gold mineralization discovered by Kaminak earlier this spring. A detailed plan map, cross-section, assay sheet and photo montage of select core samples from these holes are available on the Kaminak website at www.kaminak.com.  Gold mineralization at Latte is hosted in ribbon-quartz mylonite, quartz-feldspar-muscovite schist and breccia. Drill hole data suggests the Latte zone is east-west trending and moderately south dipping. Continued drilling at Latte will continue to focus on extending the strike length and depth extent.

Alteration minerals consist of dominantly silica, clay and limonite (after pyrite). Rock fabrics within mineralized zones are variable and range from schistose and mylonitic to local silicified clast breccia. Overall, the alteration mineralogy and chemistry is consistent with other significant discoveries in the White District, including Kaminak’s nearby Supremo gold zone.

Drill Hole # From (m) To (m) Length (m)* Weighted Grade (g/t)
CFD-009 6 46 40 1.12
  84 111 27 0.72
         
CFD-010 119 135 16 3.71
incl 119 124 5 7.17
         
CFD-011 19 89 70 1.86
incl 38 89 51 2.35
         
CFD-012 24 102 78 1.27
  176 177 1 17.4

*true width is estimated at 70-100% of core length

News Release Presentation and Live Video Webcast Information

Kaminak will host a presentation and live video webcast to explain the significance of the drill results announced today.  The presentation will be followed by a question and answer period.  Presentation and webcast details are below.

Vancouver Presentation Details

  • Date:  Tuesday, July 6th, 2010
    Time:  1:00pm Pacific Time (4:00pm Eastern Time)
  • Because the Vancouver presentation will be aired live, we request that all interested parties attend the presentation promptly at 1:00pm.
     
  • Location:  Four Seasons Hotel Vancouver
    Aspen Room – located on the 3rd floor
    791 West Georgia Street

Live Video Webcast Details:

Video Webcast Playback:

  • The video webcast will be archived on Kaminak’s website within 48 hours of the presentation.

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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