Kaminak Gold Corporation (TSX VENTURE:KAM) is pleased to announce assay results from the first two holes drilled on its 100% owned Coffee Project, located in the White District, Yukon Territory. These two holes were drilled from the same set-up at the Supremo Zone, which is one of eight top priority targets identified on the 43km long property. Kaminak will host a conference call and live audio webcast on Thursday, May 27th at 8am Pacific Time (11am Eastern Time) to explain the significance of the drill results announced today. Conference call and live audio webcast details are located at the end of this release and on the Kaminak website, www.kaminak.com.

Drill Highlights

--  CFD-001 intersected 17.07 grams per tonne gold (g/t Au) over 15.5m (from
    15m core depth)
--  CFD-002 ended in mineralization and yielded 5 significant gold-bearing
    intersections:
    --  3.95 g/t Au over 11.95m (starting at 18.7m)
    --  4.89 g/t Au over 5m (starting at 72m)
    --  2.11 g/t Au over 14.0m (starting at 124m)
    --  4.31 g/t Au over 2.75m (starting at 145.25m)
    --  2.96 g/t Au over 4.1m (starting at 169.65m to end of hole)
--  Gold zones are associated with linear structures characterized by
    extensive silicification, quartz veining and brecciation. Host augen
    gneiss has undergone As-Ag-Sb-Ba enrichment (akin to Underworld
    Resources Inc.'s Golden Saddle Deposit)
--  New geological mapping and structural measurements from oriented drill
    core indicate that the mineralized zones at Supremo are north-south
    trending, steeply dipping and open along trend and at depth
--  Drilling continues with samples being processed at the assay laboratory
    from Supremo step-out holes and initial holes from the Latte Zone
    located 1km south of Supremo

"These first holes show intense alteration and mineralization over wide intervals indicative of a large gold-rich hydrothermal system," stated Rob Carpenter, President & CEO of Kaminak. "These results confirm the potential of the Coffee property to host large gold deposits, and our drill strategy will continue to focus on discovering near-surface gold mineralization."

Drill Results

Drill holes #1 and #2 were drilled to the east from the same set-up and were designed to test the depth extent of high-grade gold-in-rock results obtained by Kaminak in 2009 along the Trench 3 (T3) trend. Hole #1 was drilled at a -50 degree angle and hole #2 was drilled at a -70 degree angle. A detailed plan map, cross-section and photo montage of select core samples are available on the Kaminak website at www.kaminak.com.

Both holes intersected extensively oxidized, limonitic, clay- and silica-altered augen gneiss host rocks displaying complex multi-phase hydrothermal breccia (fragmental) textures in addition to quartz vein stockworks, minor pyrite and rare arsenopyrite. Hole #1 intercepted a single, thick interval of 17.07 g/t Au over 15.5m (starting at 15m downhole), hosted primarily in silicified breccia units and minor non-brecciated silica-altered gneiss.

Hole #2 ended in mineralization and intersected several zones over a greater length than the hole #1 intercept including: 3.95 g/t Au over 11.95m (starting at 18.7m); 4.89 g/t Au over 5m (starting at 72m); 2.11 g/t Au over 14m (starting at 124m); 4.31 g/t Au over 2.75m (starting at 145.25m) and 2.96 g/t Au over 4.1m (starting at 169.65m to end of hole). Unlike the single, wide gold-bearing hydrothermal breccia zone in hole #1, mineralization in hole #2 is mainly hosted in broad zones of quartz veining and silica-flooding with restricted breccia zones. The mineralized intervals from hole #2 were calculated using a 1/g/t Au grade envelope, that are separated by weakly anomalous intervals. If these intervening low-grade segments are included in the grade / interval calculations, then the hole #2 intercept can also be considered to grade 1.26 g/t Au over 60.32m (starting at 18m) with a second zone of 1.15 g/t Au over 51.32m (starting at 122.43m).

New geological mapping and trenching completed at Supremo in 2010 indicate that mineralization at Trench 3 is hosted in a north-south trending linear structure/alteration zone that extends for at least 200m and is open in both directions along trend, as well as to depth. Measurements from oriented core from both holes #1 and #2 also indicate that gneissic banding is shallowly dipping to the west and that mineralized veins occur at high angle to the gneissic fabric, suggesting "near-vertical" dipping gold zones. More drilling on this section will be required in order to correlate rock units and mineralized zones from hole #1 and #2 and also to determine the true width of these zones.

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Drill Hole #     From (m)  To (m)  Length (m)  Weighted Grade (g/t)
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CFD-001               15    30.5        15.5                  17.07
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including          23.05    28.6        5.55                  31.63
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CFD-002               18   78.32       60.32                   1.26
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including           18.7   30.65       11.95                   3.95
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and                   72      77           5                   4.89
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                  122.43  173.75       51.32                   1.15
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including            124     137          14                   2.11
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and               145.25     148        2.75                   4.31
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and               169.65  173.75         4.1                   2.96
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Conference Call and Webcast Information

Kaminak will host a conference call and live audio webcast to explain the significance of the drill results announced today. Conference call and live audio webcast details are below and on the Kaminak website, www.kaminak.com.

Date: Thursday, May 27th, 2010

Time: 8am Pacific Time (11am Eastern Time)

Dial-In Numbers:

- North American toll-free number: 1-800-396-7098

- International toll number: 416-695-6616

Audio Webcast:

- A live audio webcast can be accessed at: http://www.investorcalendar.com/IC/CEPage.asp?ID=159228

Playback Available for One Week Following the Call:

- North American toll-free number: 1-800-396-7098

- International toll number: 416-695-6616

- Pass code: 2506763

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.

About Kaminak

Kaminak Gold Corporation is an opportunity-focused prospect generator whose technical strength and entrepreneurial drive is complemented by a proven, successful business model designed to create shareholder value. The company has an extensive portfolio of discovery-stage projects that offer world-class exploration potential and present exposure to strategic commodities with an emphasis on gold.

On behalf of the Board of Directors of Kaminak

Rob Carpenter, Ph.D., P.Geo., President and CEO

Kaminak Gold Corporation

Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

SOURCE: Kaminak Gold Corporation

Kaminak Gold Corporation Tony Reda Vice-President of Corporate Development Toll Free: 1.888.331.2269 or direct: 604.646.4534 info@kaminak.com www.kaminak.com