Kaminak Drills 74.9 g/t Au Over 4m at Double Double: High-Grade Gold Zone Open Along Trend and Depth

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 9, 2011) - Kaminak Gold Corporation (TSX VENTURE:KAM)today announced assay results from 11 diamond drill holes from theDouble Double zone, located on the Company's 150,000 acre Coffee Goldproperty, Yukon Territory. The Double Double zone represents one of ninegold targets to be drilled in 2011 by Kaminak as part of its ongoing40,000m drill program. Each of these zones begin at surface and remainopen along trend and at depth.

Key Point Summary

• CFD-90 yields 74.9 grams per tonne gold (g/t Au) over 4m starting at 105m core length. Re-assay checks and duplicate screen-method fire assay sampling of this ultra high-grade interval yielded repeatable results.
• CFD-88 yields 25.4 g/t Au over 2m (from 43m); CFD-81 yields 8.37 g/t Au over 5m (from 73m); CFD-93 yields 12.15 g/t Au over 3m (from 57m); CFD-101 yields 14.35 g/t Au over 2m (from 29m) and CFD-104 yields 56.4 g/t Au over 1m (from 71m)
• Near-surface and high-grade gold intercepts encountered within vertical structural corridor traceable over 200m along trend; remains open in all directions.
• New structural interpretation suggest the Double Double zone represents the easterly high-grade extension of the Latte gold zone located 800m west

Drill Results

The Double Double gold zone was discovered in 2010 bydrilling beneath a linear gold-in-soil trend that extends for at least1km along a west to northwest trend which is also co-incident with amagnetic lineament traceable for several more kilometers, suggesting thegold-bearing structures at Double Double extend for several kilometersand possibly link with the Latte gold zones located 800m west. A totalof 11 diamond drill holes were completed along a 200m long portion ofthe gold-in-soil anomaly in order to follow-up drill results from 2010that included: 6.35 g/t Au over 35m (starting at 139m core depth) from hole CFD-27 and 15.9 g/t Au over 5m (starting at 213m core length) from hole CFD-28 (see Kaminak news releases dated August 11th, 2010 and August 24th, 2010). Complete assay sheets, plan maps and cross-sections of the 2011 drilling are now available on the Kaminak website.

Drill hole CFD-90 yielded an ultra-high-grade interceptbetween 105m and 109m down-hole (refer to table 1 below). An original30g fire assay of ½ cut core yielded a weighted average of 69.6 g/t Au over 4m with individual assays yielding 105.5 g/t Au (105-106m), 106 g/t Au (106-107m), 62.7 g/t Au (107-108m) and 4.14 g/t Au (108-109m).In order to validate these results, an additional 1kg sample of thismaterial was taken and screened through a 100 micron mesh and analyzedby fire assay. A third fire assay was completed by screening a 1kgsample obtained by re-cutting the remaining drill core stored on site (¼core sampling). Results of both screen assays yielded consistent andrepeatable results averaging 74.9 g/t Au over 4m with assays averaging 120.25 g/t Au (105-106m), 98.7 g/t Au (106-107m), 76.4 g/t Au (107-108m) and 4.24 g/t Au (108-109m). Coarse gold (> 100 micron) accounted for only 4-7% in all samples suggesting minimal nugget effect.

Ultra-high-grade samples in drill hole CFD090 arecharacterized by increased breccia and intensely silicified materialwith no recognizable host rock. Silicified host material is overprintedby (micro) breccia as well as chalcedonic silica vein networks. Sericiteis low in the samples, as the overwhelming alteration is silica; minorscorodite, fuchsite and leucoxene. The sulphide content is not unusuallyhigh for Coffee gold environments, thus the addition of silica appearsto be more important to the increased gold tenor. A representative photomontage of mineralized samples is available on the Kaminak website.

Results suggest gold is hosted in a number of near-verticalto steep north-dipping zones traceable within the broader regionalmagnetic lineament and gold-in-soil anomaly. These high-grade gold zonesare typically meter-scale in width and are recognized mainly byincreased levels of hydrothermal alteration. The most consistent andtraceable structure defined to date is informally known as the "NorthTrend" and is noted on all cross-sections drilled. For example, drillingon section 5125E intercepted the North Trend in holes CFD-88 (25.4 g/t Au over 2m) and CFD-90 (74.9 g/t Au over 4m). Moreover, section 5275E cut the North Trend in hole CFD-93 (8.23 g/t Au over 3m) and hole CFD-98 (4.32 g/t Au over 4m) and section 5075E drilled through the North Trend in hole CFD-101 (14.35 g/t Au over 2m) and hole CFD-104 (56.4 g/t Au over 1m).Deeper drilling at Double Double uncovered several parallel zones tothe North Trend, including the "Central Trend"; however, since the focusof the drilling was on defining the North Trend, little is known aboutthese deeper zones. Collectively, these observations re-affirm thehigh-grade and continuous nature of gold within the Double Double zoneand also illustrate the importance of tracing high-angle structuralcorridors.

Drill Update

Over 28,000m of drilling has now been completed on the Coffeeproperty during the 2011 season and the Company is on schedule tocomplete the 40,000m program as initially outlined in the spring of2011. Three diamond drills and one reverse circulation drill (RC) arecurrently active on the property. Assays from Latte (50 diamond holes),Supremo (31 RC holes), and Kona (28 RC holes) are currently pending andinitial results from Supremo and Latte are expected in the coming weeks.Two drills are currently operating on the Kona zone (1 diamond drilland 1 RC drill) and one diamond drill is located on Latte and Connectorzones respectively.

Kaminak is also pleased to report it has begun constructionof a 15km long gravel road that will connect the Coffee Camp andairstrip to the main drill areas of Latte, Connector, Double Double andSupremo. The road is expected to be completed by the end of Q3 of 2011and will allow the Company to extend future drill seasons and reduceaircraft costs. Summer barge season is in full-swing and heavy equipment(bulldozer, loader and dump truck) have been mobilized to site in orderto facilitate road construction. Three bulk fuel tanks (75,000 litercapacity each) are also on site and are currently being installed.

QA / QC

Kaminak's disclosure of a technical or scientific nature inthis press release has been reviewed and approved by Dr. Rob Carpenter,Ph.D., P.Geo., Kaminak's President and CEO, who serves as a QualifiedPerson under the definition of National Instrument 43-101. Qualityassurance and quality control procedures include the systematicinsertion of blanks and standards into the drill core sample string.Samples are placed in sealed bags and shipped directly by charter planeto the ALS CHEMEX preparatory laboratory in Whitehorse prior to goldfire assay and ICP-MS analysis. The Coffee property is an early stageexploration property and does not contain any mineral resources asdefined by National Instrument 43-101.

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'sassessment of plans and projects and intentions with respect to listingsof securities, use of proceeds and future exploration programs,constitute forward-looking statements that are subject to numerousrisks, uncertainties and other factors relating to Kaminak's operationsas a mineral exploration company that may cause future results to differmaterially from those expressed or implied in such forward-lookingstatements, including risks as to the completion of the plans andprojects. Readers are cautioned not to place undue reliance onforward-looking statements. Kaminak expressly disclaims any intention orobligation to update or revise any forward-looking statements whetheras a result of new information, future events, or otherwise.