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Kiska Signs Definitive Agreement to Sell Thorn Property to Brixton for $1.5 Million in Cash and 7 Million Shares
Published : February 01, 2013
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Keywords :   Brixton Metals | Copper | Gold | Metals X | Silver |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 1, 2013) - Kiska Metals Corporation (News - Market indicators) ("Kiska" or "the Company") reports that, further to the news release dated January 8, 2013, the Company has entered into a binding Definitive Agreement dated January 31, 2013 to sell the Thorn Property to Brixton Metals Corporation for $1.5 million in cash (including $50,000 received upon execution of the Letter of Intent) and seven million shares of Brixton.

The completion of the transaction is subject to a number of conditions, including completion by Brixton of an equity financing to raise sufficient cash to finance the cash component of the consideration for the transaction, and receipt of all required TSX Venture Exchange approvals. The transaction is scheduled to close by February 28, 2013 or such other date as mutually agreed to by the parties. There can be no assurance that the transaction will be completed as proposed or at all.

The 189 square kilometre Thorn Property is located 120 kilometres northwest of Telegraph Creek, BC. Brixton signed an option agreement to earn a 51% interest in the Thorn by funding $5 million in exploration by the end of 2014 ($4.1 million spent to date). At Kiska's election, Brixton could fund an additional $10 million in exploration to earn an additional 14% interest (totaling 65%) in the property. Exploration is targeting high sulphidation epithermal vein-hosted high-grade copper-gold-silver mineralization and breccia-hosted high-grade silver and gold mineralization.

About Kiska Metals Corporation

Kiska Metals Corporation is a mineral exploration company focused on advancing the Whistler property, Alaska, a district-scale project with excellent exploration potential which includes the Whistler Deposit (a 2.25 M oz gold-equivalent indicated resource of 79.2 million tonnes averaging 0.51 g/t gold, 1.97 g/t silver and 0.17% copper and a 3.35 M oz. gold equivalent inferred resource of 145.8 million tonnes averaging 0.40 g/t gold, 1.75 g/t silver and 0.15% copper). Kiska has renowned technical expertise and a quality exploration portfolio with numerous early stage exploration opportunities around the world, some held in partnership with a selection of the world's largest and most successful gold and base metal producers.

On behalf of Kiska Metals Corporation

Jason Weber, P.Geo., President & CEO

CAUTIONARY STATEMENT: 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

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Kiska Metals Corporation
Candice Ridyard (Investor Relations) or Jason Weber
604.669.6660
604.669.0898 (FAX)
www.kiskametals.com
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In the News and Medias of Kiska Metals Corp.
2/16/2010Excellent Discovery Potential
Financings of Kiska Metals Corp.
3/3/2011New Issue
11/10/2010Adds $2.3 million to Treasury through Clancy Sale
9/17/2009Kiska Metals Closes Private Placement
Option Grants of Kiska Metals Corp.
2/21/2011Incentive 1.735.000 Stock Options Granted
Nominations of Kiska Metals Corp.
12/24/2013Henry Awmack, P. Eng. Joins Kiska's Board of Directors
6/27/2011Jack Miller, P.Eng. Joins Kiska's Board of Directors, Key Pe...
Financials of Kiska Metals Corp.
11/25/2010Revises Financial Statements
Project news of Kiska Metals Corp.
10/1/2013Kiska Enters Option Agreement on Kliyul Project, BC
2/27/2013Kiska Adds $1.5 million to Treasury through sale of Thorn Pr...
2/27/2013(Thorn)Adds $1.5 Million to Treasury Through Sale of Thorn Property
2/1/2013Kiska signs Definitive Agreement to sell Thorn Property to B...
2/1/2013(Thorn)Signs Definitive Agreement to Sell Thorn Property to Brixton...
1/8/2013Kiska to sell Thorn Property to Brixton for $1.5 million in ...
1/8/2013(Thorn)to Sell Thorn Property to Brixton for $1.5 Million in Cash a...
10/3/2012(Thorn)Brixton Commences Second Phase of Thorn Drilling
9/6/2012Kiska focuses on Whistler Deposit
9/4/2012Kiska receives Thorn Results from Brixton Results include 83...
12/15/2011Kiska Reports Results From the First 3 holes Drilled on the ...
12/1/2011Kiska Continues to Expand Gold Zones at Island Mountain Pros...
9/14/2011Kiska Expands Island Mountain Prospect, Whistler Project, Al...
3/3/2011Kiska Targetting 37,000 Metres of Drilling in 2011
3/3/2011(Whistler Alaska)Targetting 37,000 Metres of Drilling in 2011
12/1/2010(Whistler Alaska)Provides Whistler Project, Alaska Update; Drills 83.0 metres...
11/2/2010(Whistler Alaska)Kiska Drills 114.9 metres of 1.251 g/t gold and 0.23% copper...
10/25/2010(Whistler Alaska)Island Mountain Gold - Copper Deposit Continues To Grow At K...
9/28/2010(Whistler Alaska)Drilling Continues to Expand Kiska's Whistler Deposit
9/1/2010(Whistler Alaska)Secures 100% Control of Whistler Project
6/15/2010(Whistler Alaska)Drilling Resumes at Island Mountain Gold Discovery
5/19/2010(Whistler Alaska)Discovers New Porphyry Systems
2/9/2010(Whistler Alaska)Drilling to Begin in March on Kiska's Whistler Project, Alas...
12/8/2009(Whistler Alaska) Intersects 471.6 metres of 0.93 g/t Gold-Equivalent at Rain...
11/2/2009(Whistler Alaska) drills 106.9 metres of 1.22 g/t gold at Island Mountain are...
9/14/2009(Whistler Alaska)Drilling Commences at Whistler, Alaska
Corporate news of Kiska Metals Corp.
10/31/2013Announces Management Change
10/1/2013Enters Option Agreement on Kliyul Project, BC
8/7/2013Additional High Grade Gold Assays Reported from Midlothian C...
7/23/2013Midlothian Property Grab Samples Assay 12,700 g/t and 296 g/...
7/23/2013Midlothian Property Grab Samples Assay 12,700 g/t and 296 g/...
7/23/2013Midlothian Property Grab Samples Assay 12,700 g/t and 296 g/...
12/18/2012Whistler Deposit Metallurgy Shows Excellent Copper and Gold ...
11/26/2012(Thorn)Drilling Extends Mineralization to Depth at Thorn Property, ...
11/1/2012Kerr Appointed CFO, Project Update
7/18/2012Kiska Adds $1.5 million to Treasury through non-core asset s...
12/22/2011Kiska adds Henderson as Manager of Investor Relations, Optio...
11/29/2011Kiska Releases 2011 Drilling Results from the Whistler Orbit...
11/8/2011Kiska Intersects 100 metres of 1.37 g/t gold and 54.2 g/t si...
10/6/2011Kiska Intersects 161 metres of 1.28 g/t gold-equivalent at I...
10/6/2011Kiska Intersects 161 metres of 1.28 g/t gold-equivalent at I...
6/27/2011Jack Miller, P.Eng. Joins Kiska's Board of Directors, Key Pe...
3/3/2011The Gold Report: Experts are Talking About Kiska Metals
10/7/2010Sells Mexican Projects
9/7/2010Consolidates Ownership of Kliyul Project, BC
8/23/2010Delivers Whistler Trigger Program Report to Kennecott
6/28/2010Two New Directors Elected to Kiska Board
6/21/2010Letter to the Shareholders
5/28/2010To Acquire Kennecott's Copper Joe Prospect Near Whistler Pro...
3/17/2010Consolidates Ownership of Mexican Assets
11/30/2009Kiska Reports Additional Results from Island Mountain Gold D...
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