VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 27, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Kaminak Gold Corporation (TSX VENTURE:KAM) ("Kaminak" or the "Company") is pleased to announce that the Company has closed the bought deal private placement financing (the "Offering") announced on March 10th, 2014. The Company issued 14,025,400 units (the "Units") at a price of $0.82 per Unit, for gross proceeds of $11,500,828. Each Unit consists of one common share (a "Common Share") of the Company and one-half of one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $1.20 for a period of 12 months following closing.

The Company intends to use the net proceeds of the Offering primarily for continued exploration and development of the Company's Coffee Gold Project in Yukon, Canada and for general working capital purposes.

The Offering syndicate was led by Cormark Securities Inc. and included BMO Capital Markets, Raymond James Ltd., RBC Capital Markets, and Canaccord Genuity Corp. (collectively the "Underwriters"). In connection with the Offering, the Underwriters received a cash commission on the sale of the Units, representing 6% of the aggregate gross proceeds raised. The securities issued under the Offering are subject to a hold period which will expire four months and one day from the date of closing, being July 28, 2014.

On behalf of the Board of Directors of Kaminak

Eira Thomas, President and CEO

Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain forward-looking statements including with respect to use of proceeds by the Company and exploration activities on its properties, and such statements involve risks and uncertainties. These forward-looking statements involve risks and uncertainties relating to, among other things, global economic conditions, changes in commodity prices and, particularly, gold prices, changes in exchange rates, access to skilled personnel, costs of labour, results of exploration and development activities, changes in exploration focus, uninsured risks, defects in title, availability and costs of materials and equipment, changes in applicable legislation or application thereof, and unanticipated environmental impacts on exploration. The results or events predicted may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release. Except as may be required by applicable securities laws, the Company disclaims any intention or obligation to update any forward-looking statement, whether as a result of new information, future events or results, or any other occurrence. Readers are cautioned not to place undue reliance on forward-looking statements.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.