Yukon Territory

GOLD – Kaminak Gold Corp. Sept. 1 reported results for 27 drill holes from the recently completed, C$3.5 million, 2014 phase 1 drill campaign at the Coffee gold project, Yukon Territory. The objective of the program was to test priority gold-in-soil anomalies situated proximal to the current resource that have the potential to contribute high-value, open-pit oxide resources to the existing mine plan. Kaminak recently announced the results from a preliminary economic assessment at Coffee demonstrating a robust, high-margin, rapid pay-back, 11-year open pit mining project using a US$1,250 per ounce gold price. Kaminak said the phase-1 drilling identified near-surface predominately oxidized gold mineralization at the Kona North zone; added 900 meters to the Supremo T3 trend; and intersected high-grade gold mineralization at Cappuccino. “Ongoing exploration of the numerous high-tenor geochemical anomalies remaining at Coffee continues to demonstrate the resource upside of the project and has the potential to enhance the already positive, high-margin economics at Coffee as demonstrated in the recently completed PEA,” said Kaminak President and CEO Eira Thomas. Results from phase-1 drilling at Kona North include: 28 meters of 3.55 g/t gold from a depth of 14 meters and nine meters of 2.66 g/t gold from a depth of 53 meter in hole CFD376; and eight meters of 4.05 g/t gold from a depth of 38 meters and eight meters of 3.79 g/t gold from 51 meters in hole CFD379. Additional drilling is underway to determine the structural orientation and geometry of the zone and to delineate near-surface oxide ounces that may be incorporated into the feasibility study. The phase-1 drilling also extended the Supremo T3 zone some 1,000 meters to the north, increasing the strike of this gold-rich zone to at least 3,500 meters. The best intercepts occurred at the intersection of T3 and the Macchiato trends, including: 14 meters of 1.95 g/t gold from a depth of 81 meters and nine meters of 2.21 g/t gold from a depth of 128 meters in hole CFD356. Kaminak said the magnetic and geochemical signature for T3 extends a further 1,000 meters north, warranting systematic step-out drilling in that direction. A Phase II exploration program is now underway at Coffee. With the goal of augmenting the resource inventory, which will be incorporated into the final feasibility study, the C$2 million will target Kona North primarily and other additional priority gold-in-soil anomalies proximal to the current resource. “Delineation drilling at Kona North is underway with the goal of defining a near-surface, oxide resource that may be incorporated into the Coffee Feasibility Study,” said Kaminak President and CEO Eira Thomas. “Ongoing exploration of the numerous high-tenor geochemical anomalies remaining at Coffee continues to demonstrate the resource upside of the project and has the potential to enhance the already positive, high-margin economics at Coffee as demonstrated in the recently completed PEA. Delineation drilling at Kona North is underway with the goal of defining a near surface, oxide resource that may be incorporated into the Coffee Feasibility Study.” Feasibility activities, which began in the third quarter, include infill drilling, additional metallurgical test-work, continued environmental baseline activities and a condemnation program. Kaminak anticipates completing the feasibility study by early 2016.