VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 11, 2012) - Kaminak Gold Corporation (TSX VENTURE:KAM) today announced final drill results from 2011 reverse circulation (RC) and diamond drilling (DD) from the closely-spaced Supremo T2 and T3 gold zones, located on the Company's Coffee Gold property, Yukon Territory. The Supremo soil anomaly comprises at least 8 structural zones (T1 to T8) occurring over an area approximately 2km long and 2km wide. The T2 and T3 zones have been traced along strike in drilling for 350m and 700m respectively and are open in all directions. Moreover, surface soil geochemistry and newly acquired geophysical data suggest the Supremo structures link with the Latte zone located 1km south. This 'gap' between Supremo and Latte, referred to as the 'Connector Zone', represents a high priority exploration target for 2012.

Key Point Summary

• Supremo T3 high-grade oxidized gold zone extended an additional 100m south along strike. Results include: 19.6 grams per tonne gold (g/t Au) over 10.7m (from 120.7m hole depth); 45.9 g/t Au over 3.1m (from 25.0m hole depth); 5.7 g/t Au over 15m (from 77m hole depth) and 6.5 g/t Au over 12.2m (from 6.4m hole depth). Gold mineralization on T3 now extends at least 700m along trend and remains open in all directions.
• Surface soil geochemistry and newly acquired aeromagnetic data suggest the Supremo 'T' structures link with the Latte zone located 1km south, and also extends northwards for up to 800m, for a total inferred strike length of 2.5km.
• Newly Defined Supremo T2 oxidized zone identified approximately 150m west of and parallel to T3. Results include: 2.6 g/t Au over 24.4m (from 12.5m hole depth); 2.9 g/t Au over 21.3m (from 53.6m hole depth) and 6.5 g/t Au over 9.2m (from 152.7m hole depth). Mineralization can be traced at least 350m along strike and remains open in all directions.
• Latte West deep drilling further extended mineralization down-dip. Results include: 3.8 g/t Au over 8m (from 237m hole depth); 1.1 g/t Au over 48m (from 281m hole depth); 1.1 g/t Au over 26m (from 337m hole depth) and 1.9 g/t Au over 10m (from 334m hole depth).
• Regional drilling yields new gold discovery at Macchiato soil anomaly. Four holes spaced over 300m all intersected significant gold mineralization. Results include: 5.4 g/t Au over 5m (from 10m hole depth); 4.2 g/t Au over 6m (from 45m hole depth); 3.6 g/t Au over 6m (from 56m hole depth) and 5.8g/t over 3m (from 121m).

Drill Results

All assay results from the 2011 drill program have now been released. Approximately 48,000m were drilled continuously from April to October, comprising 101 diamond drill holes and 134 reverse circulation drill holes. Planning of an aggressive 2012 drill program is ongoing with drilling expected to recommence in late March. Program details will be released in the coming weeks.

Supremo Drill Results (T3 and T2 Zones)

New drilling successfully extended the high-grade Supremo T3 gold zone an additional 100m south along strike and mineralization now totals 700m in length and remains open in all directions. Late in the 2011 field season a total of 13 holes were completed from Section 4225N to Section 4325N comprising 8 RC holes and 5 diamond holes. Results include: 19.6 grams per tonne gold (g/t Au) over 10.7m (from 120.7m hole depth), which includes 33.4 g/t Au over 6.1m; 45.9 g/t Au over 3.1m (from 25.0m hole depth); 5.7 g/t Au over 15m (from 77m hole depth) and 6.5 g/t Au over 12.2m (from 6.4m hole depth). Systematic drilling in 2011 focused on expanding the near-surface oxidized gold mineralization on the T3 structure, which extends up to 200m depth, and has outlined a significant high-grade steeply-dipping mineralized zone that remains open in all directions.

CFR124 intersected the highest gold grade from Supremo T3 drilling to date, comprising a fire assay result of 86.8 g/t Au over 1.5 metres from 126.8m to 128.3m down hole. As part of Kaminak's standard QA / QC procedures, screen fire assaying was conducted to verify the initial high grade fire assays, returning a closely comparable result of 91.3 g/t Au. In addition, a field duplicate sample collected over the same interval returned 93.1 g/t Au from fire assay and 97.0 g/t Au from screen fire assay. The duplicates and screen fire assays (which are used in the calculation of the drill intercept reported in the table below) further support the consistency, repeatability and overall reliability of drill assaying results at the Coffee Gold Project.

Surface soil geochemistry and newly acquired aeromagnetic data suggest the Supremo 'T' structures link with the Latte zone located 1km south, and also extends northwards for up to 800m, for a total inferred strike length of 2.5km. South of the currently drilled T3 zone, the Connector zone lies at the southern-most extent of the interpreted 'T' structures where they intersect or merge with the Latte structure. Recently, the discovery of a new zone at Connector was announced (news release November 21, 2011) comprising drill intercepts up to 11.1 g/t Au over 4m. The 'gap' in drilling on the Supremo 'T' structures between Supremo and Latte/Connector represents a top priority exploration target for 2012. Approximately 800m of inferred strike on the T structures in this 'gap' zone will be systematically tested by step-out drilling in 2012.

North of the Supremo T3 zone, four additional diamond holes were drilled on aggressive step-outs of up to 800m along strike of the previous T3 drilling, and all of these new holes successfully intersected alteration and mineralization consistent with the T3 structure. Results include: 4.2 g/t Au over 2m (from 149m hole depth) and 5.2 g/t Au over 3m (from 302m hole depth).

A new oxidized gold trend is emerging on the Supremo T2 structure located approximately 150m west of the well-defined T3 gold zone. Gold mineralization within the T2 and T3 structures are geologically and geochemically similar and are interpreted to be related. Results from T2 include: 2.6 g/t Au over 24.4m (from 12.5m hole depth); 2.9 g/t Au over 21.3m (from 53.6m hole depth) and 6.5 g/t Au over 9.1m (from 152.7m hole depth), in addition to 3.7 g/t Au over 16m from CFD29 drilled in 2010. Mineralization can be traced at least 350m along strike and remains open in all directions. To date, the T2 structure has received fewer drill holes than the neighboring T3 zone; however, results to date at T2 are consistent with multiple plunging gold zones hosted in steeply-dipping deeply oxidized structures.

Two additional diamond core drill holes tested other structures in the Supremo area east of T3: holes CFD168 and 173 tested the inferred T6 and T8 structures respectively. Both drill holes returned multiple encouraging intercepts including from CFD168: 5.2 g/t Au over 2m (from 101m hole depth) and 8.6 g/t Au over 1m (from 254m hole depth); and from CFD173: 1.2 g/t Au over 7m (from 144m hole depth).

Overall, the Supremo drill results from 2011 built strongly upon the initial discoveries made in 2010 with the key targets achieved, including proving continuity of structure, consistency of high grade plunging zones, and significant strike length. Furthermore, the results indicate potential for additional significant mineralization to be delineated, both on the high grade T3 structure and in multiple sub-parallel 'stacked' structures over an area of at least 2km x 2km. All zones discovered to date remain open along strike and to depth.

Latte

Three additional diamond core holes were drilled late in the 2011 field season targeting down-dip extensions of the broad gold mineralized zones intersected throughout the 2011 Latte drill program. The three drill holes comprised step-outs along strike of the significant deep drill intercepts in CFD164 which were announced in late 2011 (news release 21 November 2011) including 5.5 g/t Au over 11m and 20.5 g/t Au over 3m at vertical depths of up to 450m below surface. The follow-up drilling on 50m spaced sections returned intercepts including; 1.1 g/t Au over 48m (from 281m hole depth) and 1.1 g/t Au over 26m (from 337m hole depth).

Regional Drill Results

Three previously undrilled gold-in-soil anomalies were drilled in 2011 including the Macchiato, Cappuccino and Americano West areas.

The best results were returned from Macchiato located approximately 1.5km NNW of Supremo T3, which comprises an ENE striking gold-in-soil zone over 800m strike to a maximum of 237ppb Au. Significant gold mineralization was intersected in every drill hole over +400m strike length, thereby confirming a new bedrock gold discovery. Drill assay results included: 4.2 g/t Au over 6m (from 45m hole depth), 5.4 g/t Au over 5m (from 10m hole depth), and 3.6 g/t Au over 6m (from 56m hole depth). Follow-up drilling is planned in 2012.

Gold mineralization at Macchiato is hosted within brittle fractures and brecciated gneisses and schists accompanied by silica flooding and pyrite/limonite alteration. High‐grade intervals are associated with intense quartz-sericite alteration and high sulphide content. Geological similarities between Macchiato and other gold zones at Coffee suggest these zones are related to the same mineralizing event, and, as a result, are potentially connected along trend and at depth.

All maps, sections and assay sheets are currently available on the Kaminak website, www.kaminak.com.

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 to the ALS Minerals 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.

On behalf of the Board of Directors of Kaminak,

Rob Carpenter, Ph.D., P.Geo., 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.

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.