KAMINAK INTERSECTS MULTIPLE HIGH-GRADE GOLD ZONES IN DEEP DRILLING AT LATTE AND NEW GOLD ZONE DISCOVERED AT CONNECTOR


Kaminak Gold Corp. has provided diamond drill results from the Latte (eight holes) and Connector (four holes) zones, located on the company’s 150,000-acre Coffee gold property, Yukon Territory. The deepest hole ever drilled on the property successfully intersected high-grade gold zones to a depth of 450 metres vertical at the Latte zone. Additional drilling at the Connector zone has extended known mineralization 100 m toward the Supremo zone, supporting the concept that Latte and Supremo are related. A new gold zone at Connector has also been discovered occurring parallel to the original Connector mineralization.

Latte Deep results

CFD-164

  • 5.5 grams per tonne gold Au over 14 m (from 353 m);
  • 1.3 g/t Au over 10 m (from 375 m);
  • 5.5 g/t Au over 11 m (from 433 m);
  • 20.5 g/t Au over three m (from 454 m);
  • 2.8 g/t Au over 13 m (from 464 m).

Connector results

CFD-149

  • 1.8 g/t Au over seven m (from 70 m);
  • 1.5 g/t Au over 17 m (from 139 m);
  • 10.1 g/t Au over two m (from 166 m).

CFD-152

  • 11.1 g/t Au over four m (from 103 m);
  • 1.9 g/t Au over eight m (from 153 m).

Summary

  • Deepest hole ever drilled on the Coffee property successfully intersects multiple high-grade zones including 5.5 grams per tonne gold (g/t Au) over 14 m (from 353 m core length); 5.5 g/t Au over 11 m (from 433 m); 20.5 g/t Au over three m (from 454 m) and 2.8 g/t Au over 13 m (from 464 m).
  • Drilling extends Connector zone 100 m along trend toward Supremo gold zones. A new gold zone at Connector has also been discovered occurring parallel to the original Connector mineralization, results include CFD-149: 1.5 g/t Au over 17 m (from 139 m), 10.1 g/t Au over two m (from 166 m) and CFD-152: 11.1 g/t Au over four m (from 103 m) and 1.9 g/t Au over eight m (from 153 m).
  • Latte structure extended an additional 200 m east along strike toward Double Double zone and now extends at least 1,550 m long and is open in every direction and at depth. Assays for three additional deep holes at Latte are pending.
  • Latte is one of several closely spaced gold prospects, which also includes the Supremo zone (900 m north) and the Double Double zone (950 m east). Geological similarities on all scales suggest these zones are related to the same mineralizing event and, as a result, are potentially connected along trend and at depth.

Drill results

Two thousand eleven drilling programs were conducted with the objective of extending mineralization along strike and to depth and proving continuity of mineralized structures. In previous news releases, the company announced the extension of the Latte zone over 1,350 m strike length and to 275 metres depth below surface (Sept. 14, 2011) and the discovery of the Connector zone (Nov. 16, 2010) which returned an initial intercept of 5.5 g/t over 11 m on a north-south trend along strike of the Supremo zone.

The drilling covered within this news release extends the east-west-trending Latte mineralized structure to at least 1,550 m along strike and 450 m vertical below surface, and highlights the potential for further extensions to the west and eastward toward the Double Double zone (950 m east). A deep step-back hole at Latte West, CFD-164, drilled to 542.5 m down hole depth, intersected a total of over 250 gram-metres (total grade by width) down hole to a maximum vertical depth below surface of 450 m indicating that the Latte mineralized system persists strongly to depth. Three additional holes to test the depth potential beneath Latte West were drilled along strike of CFD-164 with results currently pending.

In addition, the initial Connector discovery is extended 100 m northward (from CFD-69: 5.5 g/t over 11 m from 133 m depth) thereby confirming the north-south orientation and further highlighting the potential to link this zone with Supremo 900 m to the north along strike. Significantly, a new parallel trending mineralized zone was intersected in drill holes CFD-149 (1.5 g/t over 17 m and 10.1 g/t over two m) and CFD-152 (11.1 g/t over four m), which suggests the potential for the Connector system to host multiple stacked lenses of mineralization akin to the Supremo zones T1 to T7.

Gold mineralization in all zones at Coffee is hosted within brittle fractures and brecciated gneisses and schists accompanied by silica flooding and pyrite/limonite alteration. High-grade intervals are associated with polyphase breccia, microbreccia, quartz vein breccia, coarse sericite and high sulphide content. Geological similarities between all zones and at all scales suggest these zones are related to the same mineralizing event and, as a result, are potentially connected along trend and at depth.

Latte/Connector is one of several closely spaced gold prospects, which also includes the Supremo zone (900 m north) and the Double Double zone (950 m east). The 2011 drilling has extended mineralization at Latte West 400 m beyond the western limit of the gold-in-soil anomaly, and interpretation of geophysical data supported by gold-in-soil anomalies has reinforced the potential for linkages between the known gold zones. All zones are interpreted to come to surface and remain open along strike and at depth. Drilling in 2012 will continue to test for strike and depth extensions and across strike for multiple stacked lenses of mineralization.

All maps, sections and assay sheets are currently available on the Kaminak website.

                               ASSAY TABLE
                                                                    Weighted
                           From             To          Width          grade
Drill hole No.               (m)            (m)         (m)(i)       (g/t Au)

Latte West
CFD-164                     320            324              4           1.16
and                         344            348              4           1.54
and                         353            367             14           5.47
and                         375            385             10           1.31
and                         433            444             11           5.49
and                         454            457              3          20.52
and                         464            477             13           2.81
CFD-133                     169            170              1           0.63
CFD-138                      14             15              1           0.61
CFD-145                     239            248              9           2.38
and                         307            311              4           1.05
Latte East
CFD-135                      79             82              3           1.50
and                         126            131              5           3.23
CFD-136                     273            274              1           7.46
CFD-139                     217            219              2           2.51
CFD-142                      92             93              1           1.62
Connector
CFD-144                     130            135              5           3.52
and                         199            202              3           1.58
and                         207            211              4           3.99
CFD-146                      62             65              3           1.03
and                          99            105              6           1.00
and                         158            160              2           1.22
and                         302            305              3           0.98
CFD-149                      70             77              7           1.84
and                         127            133              6           2.10
and                         139            156             17           1.51
and                         166            168              2          10.12
and                         195            196              1           9.39
and                         311            313              2           1.26
and                         324            325              1           2.90
and                         362            370              8           1.99
CFD-152                      88             92              4           1.91
and                         103            107              4          11.09
and                         153            161              8           1.90
and                         173            175              2           6.50
and                         230            234              4           0.86

(i) True width estimated at approximately two-thirds core length.

Quality assurance/quality control

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, PhD, PGeo, Kaminak’s president and chief executive officer, 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 to the ALS Minerals 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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