December 5, 2008

Vancouver, B.C. � Kaminak Gold Corporation (KAM: TSX-V) today announced that the Board of Directors has granted an aggregate of 650,000 stock options under the Company�s Stock Option Plan, subject to regulatory approval.

The options are exercisable at a price of $0.12 per common share, subject to a four month hold period, expire on December 5th, 2013 and vest every three months over the next year. Insiders of the Corporation were allocated 440,000 of these options.

About Kaminak
Kaminak Gold Corporation is an opportunity focused prospect generator.  Kaminak's technical strength and entrepreneurial drive is complemented by a proven, successful business model designed to create shareholder value.  Kaminak's business model employs a joint venture strategy that exposes Kaminak shareholders to multiple opportunities for discovery.  Kaminak projects offer world-class exploration potential and present exposure to strategic commodities with an emphasis on gold.

On behalf of the Board of Directors of Kaminak
Kaminak Gold Corporation
�Rob Carpenter�
Rob Carpenter, Ph.D., P.Geo.
President and CEO

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.