KAMINAK EXPANDS NEAR-SURFACE GOLD ZONES AT KONA; NEW RESULTS INCLUDE: 5.2 G/T AU OVER 10.7M, 2.3 G/T AU OVER 12.8M, 2.5 G/T AU OVER 16.7M AND 4.5 G/T AU OVER 9.1M


Kaminak Gold Corp. has released results from reverse circulation (RC) drilling (46 holes) and diamond drilling (six holes) from the Kona zone, located on the company’s 150,000-acre Coffee gold property, Yukon Territory. Kona represents an early-stage prospect that occurs 5km west of the Latte-Supremo gold zones. The 2011 drilling at Kona focused on evaluating a 400m long portion of the greater than 3000m gold-in-soil trend. Gold was intersected across the entire 400m portion of the soil anomaly, including a near-surface high-grade plunging zone.

Kona Drill Results

CFR-56 - 5.2 g/t Au over 11m (from 66m)                                     
CFR-59 - 1.4 g/t Au over 11m (from 17m)                                     
CFR-60 - 4.5 g/t Au over 9m (from 40m)                                      
CFR-61 - 2.1 g/t Au over 20m (from 66m)                                     
CFR-63 - 2.3 g/t Au over 13m (from 4m)                                      
CFR-64 - 1.3 g/t Au over 23m (from 30m)                                     
CFR-67 - 1.7 g/t Au over 17m (from 29m)                                     
CFR-74 - 2.5 g/t Au over 17m (from 140m)

Summary

--  Kona drilling defines near-surface gold mineralization over 400m strike,
    co-incident with an extensive gold-in-soil anomaly. The mineralized zone
    remains open in all directions. Results include 5.2 grams per tonne gold
    (g/t Au) over 11m (from 66m) and 2.5 g/t Au over 17m (from 140m). 

--  Reconnaissance drilling identifies new bedrock gold zone at Kona North,
    including 2.0 g/t Au over 14m (from 51m) and 1.0 g/t over 26m (from
    53m). A significant portion of the extensive gold-in-soil anomaly
    remains untested. 

--  Mineralized zones occur as plunging high-grade lodes hosted within
    steeply-dipping fault zones. Mineralogy and geochemistry suggest a link
    with the Latte-Supremo gold zones located greater than 5km to the east. 

--  Granite-hosted gold targets such as Kona, Espresso and Americano remain
    largely untested despite extensive gold-in-soil trends. Width and grade
    of near-surface Kona gold zones is consistent with Coffee-style
    mineralized trends discovered elsewhere on the property.

Drill Results

The principal objective of the 2011 Kona drilling program was to follow-up on the initial drill discovery made in 2010 comprising intercepts of 2.2g/t Au over 57m and 1.9 g/t Au over 23m in diamond core hole CFD-53 (see news release October 12, 2010). Prior to commencement of drilling in 2011, a horizontal loop EM survey was undertaken over the main Kona gold-in-soil anomaly with results indicating an east-northeast trending bedrock structure coincident with the gold-in-soil trend. Subsequently, the 2011 drill program was designed to step-out along strike to the east and west of the initial 2010 drill discovery on north-south oriented traverses. Drilling successfully intersected steeply dipping east-northeast striking fracture/shear zones, which are co-incident with overlying gold-in-soil anomalies. Gold mineralization was intersected on every drill section over a 400m strike length and to greater than 200m below surface. Multiple close-spaced parallel mineralized structures are present over the majority of the Kona zone tested to date. High-grade gold mineralization is interpreted as forming a near-surface high-grade plunging lode, which includes intercepts of up to 4.51g/t over 20m (CFD-53) and 5.16 g/t Au over 10.67m (CFR-56).

In addition, a previously un-drilled section of the Kona North zone consisting of a +100ppb Au north-south trending gold-in-soil zone over a total length of greater than 500m was tested by reconnaissance RC drilling resulting in the discovery of a new zone of bedrock gold mineralization. Three east-west oriented sections were drilled over the southern portion of the gold-in-soil trend. Two gold mineralized structures were intersected on section 3400N interpreted as steeply-west dipping zones. Drill intercepts include 1.03g/t over 25.91m (CFR-95) and 2.03g/t over 13.71m (CFR-94). Additional drilling is required along strike to north and south to confirm strike orientation.

The host rock at Kona and Kona North comprises granite, which is strongly sericite and clay-altered adjacent to mineralized structures. Gold mineralization is associated with disseminated pyrite and pyrite veinlets in fracture/shear zones. High gold grades correspond with sulfide-matrix fault breccias. Shear zones are oxidized near surface containing abundant limonite after sulfide with oxidation locally persisting up to 100 meters depth. Geological and geochemical similarities between Kona and the Latte-Supremo-Double Double zones greater than 5km to the east suggest all zones are related to the same mineralizing event and, as a result, are potentially connected along trend. The Latte Structure is interpreted to intersect the northern section of the Kona North zone.

Gold mineralization at Kona and Kona North commences at surface and remains open in all directions. Additional follow-up drilling is planned to be undertaken in 2012. Also, extensive gold-in-soil trends remain to be systematically tested at Kona and at the adjacent Espresso and Americano zones.

                         ASSAY TABLE
                                                              Weighted grade
Drill Hole #        From (m)      To (m)      Width (m)(i)          (g/t Au)

Kona                                                                        
Section 9550E                                                               
CFR-75                112.78      114.30              1.52              2.30
CFR-76                 33.83       46.02             12.19              1.60
             and      125.27      128.32              3.05              1.55
             and      172.52      175.56              3.04              0.69
CFR-77                 92.96      100.58              7.62              0.77
CFR-78                 56.69       58.22              1.53              1.08
CFR-79                140.51      148.13              7.62              2.87
Section 9600E                                                               
CFR-72                 49.38       53.95              4.57              1.87
             and       73.76       75.29              1.53              3.44
             and      111.86      119.48              7.62              5.52
CFR-73                 10.67       13.72              3.05              1.93
             and       89.92      106.68             16.76              1.09
             and      117.35      121.92              4.57              2.05
CFR-74                123.44      128.02              4.58              1.21
                      140.21      156.97             16.76              2.54
CFD-150                 76.0        78.0               2.0              1.15
             and       206.0       212.0               6.0              2.31
             and       217.0       220.0               3.0              3.84
             and       253.0       255.0               2.0              1.95
             and       269.0       271.0               2.0              3.30
Section 9650E                                                               
CFR-62                 40.54       42.06              1.52              2.51
CFR-63                  3.96       16.76              12.8              2.33
             and        38.1       47.24              9.14              1.22
             and       59.44       65.53              6.09              1.01
             and       74.68       79.25              4.57              1.01
CFR-64                 30.48       53.34             22.86              1.31
             and      109.73      114.30              4.57              0.89
             and      126.49      129.54              3.05              0.97
CFR-65                 85.95       90.53              4.58              2.24
             and      119.48      122.53              3.05              1.50
             and      174.35      177.39              3.04              1.73
Section 9700                                                                
----------------------------------------------------------------------------
CFR-54(ii)                 0        4.27              4.27              1.50
----------------------------------------------------------------------------
             and        7.32       17.98             10.66              0.84
----------------------------------------------------------------------------
             and       27.13       33.22              6.09              1.43
----------------------------------------------------------------------------
             and       62.18       77.42             15.24              1.39
----------------------------------------------------------------------------
             and       83.52       91.14              7.62              1.53
----------------------------------------------------------------------------
CFR-55(ii)                 0        7.92              7.92              2.51
----------------------------------------------------------------------------
             and       20.12       47.55             27.43              2.48
----------------------------------------------------------------------------
             and      152.70      184.71             32.01              1.00
----------------------------------------------------------------------------
CFR-56                 44.81       55.47             10.66              1.34
----------------------------------------------------------------------------
             and       66.14       76.81             10.67              5.16
----------------------------------------------------------------------------
             and       90.53       83.57              3.04              4.00
----------------------------------------------------------------------------
             and      142.34      145.39              3.05              1.31
----------------------------------------------------------------------------
CFR-57                 33.53       36.58              3.05              1.53
----------------------------------------------------------------------------
CFD-137                204.0       209.0               5.0              4.25
----------------------------------------------------------------------------
             and       228.0       230.0               2.0              3.73
----------------------------------------------------------------------------
CFD-141                150.0       156.0               6.0              2.20
----------------------------------------------------------------------------
             and       259.0       261.0               2.0              1.20
----------------------------------------------------------------------------
             and       273.0       280.0               7.0              1.05
----------------------------------------------------------------------------
             and       301.0       303.0               2.0              2.04
----------------------------------------------------------------------------
Section 9750E                                                               
----------------------------------------------------------------------------
CFR-59                 16.76       27.43             10.67              1.39
----------------------------------------------------------------------------
             and       50.29       59.44              9.15              1.35
----------------------------------------------------------------------------
             and      106.68      109.73              3.05              2.33
----------------------------------------------------------------------------
CFR-60                 39.62       48.77              9.15              4.50
----------------------------------------------------------------------------
CFR-61                 65.53       85.34             19.81              2.07
----------------------------------------------------------------------------
             and      109.73      117.35              7.62              0.93
----------------------------------------------------------------------------
             and      138.68      141.73              3.05              1.45
----------------------------------------------------------------------------
Section 9800E                                                               
----------------------------------------------------------------------------
CFR-66                  2.74        5.79              3.05              0.88
----------------------------------------------------------------------------
             and       85.95       90.53              4.58              1.20
----------------------------------------------------------------------------
CFR-67                 29.26       46.02             16.76              1.66
----------------------------------------------------------------------------
       including       29.26       35.36              6.10              1.31
----------------------------------------------------------------------------
             and       41.45       46.02              4.57              4.23
----------------------------------------------------------------------------
            also       58.22       59.74              1.52              2.38
----------------------------------------------------------------------------
CFR-68                 76.20       79.25              3.05              3.39
----------------------------------------------------------------------------
CFR-69                 98.15      102.72              4.57              2.80
----------------------------------------------------------------------------
CFD-143                169.0       171.0               2.0              1.07
----------------------------------------------------------------------------
             and       233.0       239.0               6.0              1.01
----------------------------------------------------------------------------
Section 9850E                                                               
----------------------------------------------------------------------------
CFR-70A                17.07       18.59              1.52              1.18
----------------------------------------------------------------------------
CFR-71                 46.33       50.90              4.57              1.38
----------------------------------------------------------------------------
CFD-147                135.0       140.0               5.0              2.28
----------------------------------------------------------------------------
                       149.0       152.0               3.0              1.39
----------------------------------------------------------------------------
Section 9950E                                                               
----------------------------------------------------------------------------
CFR-83                 35.05       38.10              3.05              1.35
----------------------------------------------------------------------------
CFR-84                 89.31       92.35              3.04              5.32
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Kona North                                                                  
----------------------------------------------------------------------------
Section 3300N                                                               
----------------------------------------------------------------------------
CFR-89A                56.39       59.44              3.05              1.77
----------------------------------------------------------------------------
Section 3400N                                                               
----------------------------------------------------------------------------
CFR-93                141.73      150.88              9.15              2.05
----------------------------------------------------------------------------
CFR-94                 50.60       64.31             13.71              2.03
----------------------------------------------------------------------------
             and       78.03       81.08              3.05              1.36
----------------------------------------------------------------------------
CFR-95                 52.73       78.64             25.91              1.03
----------------------------------------------------------------------------
CFR-96                 15.85       21.95              6.10              2.89
----------------------------------------------------------------------------
CFR-97                 20.42       23.47              3.05              0.78
----------------------------------------------------------------------------
CFR-98                 48.46       51.51              3.05              2.49
----------------------------------------------------------------------------
             and       62.18       66.75              4.57              0.93
----------------------------------------------------------------------------
             and       75.90       78.94              3.04              1.53
----------------------------------------------------------------------------
             and       85.04       91.14              6.10              2.16
----------------------------------------------------------------------------
CFR-99                 72.54       74.07              1.53              1.84
----------------------------------------------------------------------------

Drill holes CFR-58, 80-82, 85-88, 90-92 and 97 returned no significant      
values.                                                                     
Drillholes prefixed CFD: diamond core holes. Drillholes prefixed CFR:       
reverse circulation holes.                                                  
(i) True width estimated at approximately 2/3 down-hole length.             
(ii) RC holes 'twin' 2010 diamond core holes.

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 or barge 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.

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