Kaminak Gold* (KAM : TSX-V : $2.19), Net Change: 0.03, % Change: 1.39%, Volume: 91,135

Higher Grounds. Kaminak Gold perked investors' attention after announcing encouraging results from an initial column heapleach test completed on oxide material at the Coffee Gold Project, Yukon Territory. A single composite 30 kg sample of oxidized drill core from the Supremo and Latte zones was crushed to 0.5 inches and subjected to an 80-day column cyanideleaching test. Measured head grade of this sample was 3.75 g/t Au. Results show 90.4% gold recoveries obtained over 80 days,including 83.2% recoveries over the first 15 days. A Bay Street analyst notes that while early, this positive initial column leach test could open processing options for KAM moving forward. Notably, this marks the beginning of what could be an exciting summer for Kaminak, which has already commenced drilling on its Coffee Gold Project in the Yukon. A fully-funded program consisting of a minimum of 50,000 m from four drills is intended to lead to a maiden NI 43-101 compliant inferred resource on the Coffee property. Management stated that drilling will focus on defining gold resources within high-grade and well oxidized mineralized zones within the Supremo-Latte-Double Double area. New gold-in-soil targets including the Sugar trend will also receive significant drill testing. Recently, Bay Street's largest brokerage initiated bullish coverage on the Yukon-focused goldexplorer. Kaminak is one of the leaders of the Yukon Gold Rush II. The analyst highlighted the presence of “multiplemineralized zones, with a combination of low (1-2 g/t gold), medium (2-5 g/t), and high (5-10 g/t) grades that could allow for both a larger operation (to gain economies of scale), and a blending of ore sources to achieve a reasonable average grade during operations.” Despite the company having an excellent summer 2011 drill program, shares are down significantly from their previous highs. Given the seasonal nature of Yukon gold explorers the analyst recommended accumulating Kaminak shares infront of the company’s summer 2012 drill plan