VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 6, 2014) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Kiska Metals Corporation (TSX VENTURE:KSK) ("Kiska" or the "Company") is pleased to announce that it intends to raise up to $1.5 million by way of a private placement financing.

Kiska intends to use the new funds raised to pursue a number of business opportunities that have been identified, as well as for general corporate purposes.

Private Placement Financing

Kiska intends to raise new capital through a non-brokered private placement of 15,000,000 units at a price of $0.10 per unit, for gross proceeds of $1,500,000. Each unit will consist of one common share (a "Common Share") and one transferable share purchase warrant (the "Warrant"). Each Warrant will entitle the holder to purchase one additional Common Share for a period of three years, for $0.15. If, after expiry of the four month restricted resale period, the closing price of the common shares of the Corporation on the TSX Venture Exchange is higher than $0.30 for 20 consecutive trading days then on the date that is the 20th consecutive trading day (the "Acceleration Trigger Date") the expiry date of the Warrants will be accelerated to the date that is 20 business days after the Acceleration Trigger Date and the Company will issue a news release giving written notice of the accelerated Warrant expiry date.

A finder's fee may be paid on a portion of the placement. The finder's fee will consist of cash or units equal to 7% of the units sold to investors introduced by finders, and non-transferable share purchase warrants equal to 7% of such units sold to investors ("Broker Warrants"). The finder's fee unit warrants will have the same terms as the Warrants. The Broker Warrants issued will permit the purchase of one Common Share for two years at a price of $0.10.

The Common Shares, and any Common Shares issued on the exercise of the Warrants and Broker Warrants, will be subject to a four month restricted resale period and applicable securities legislation hold periods outside of Canada. There can be no assurance that the private placement will be completed as proposed or at all.

Affiliates of Sprott Inc. will act as finders in the proposed placement and subscribe for all or part of the offering, as determined by mutual agreement between the Company and the finders.

The Company has granted 1,700,000 incentive stock options to directors, officers, employees and consultants of the Company at a price of $0.10. Options are granted in accordance with the Company's Incentive Stock Option plan approved at the Annual General Meeting held September 19, 2013.

About Kiska Metals Corporation

Kiska Metals Corporation is a mineral exploration company with a diverse portfolio of gold and copper projects available for option/joint venture throughout North America and Australia. One of the more advanced assets is the Whistler property, Alaska, a district-scale gold-copper porphyry project with excellent exploration potential that contains a 2.25 M oz gold-equivalent indicated resource. Kiska has numerous gold and copper projects available for option-joint venture as well as an extensive royalty portfolio available for purchase.

On behalf of Kiska Metals Corporation

David Caulfield, P.Geo., Interim President & CEO

THIS PRESS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.

CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Kiska Metals Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Kiska's expectations are the risks detailed herein and from time to time in the filings made by Kiska Metals Corporation with securities regulators. Those filings can be found on the Internet at http://www.sedar.com and http://www.sec.gov.

Kiska Metals Corporation
Candice Ridyard
Investor Relations
604.669.6660

Kiska Metals Corporation
David Caulfield
604.669.0898
604.669.6660
www.kiskametals.com