June 4, 2007
Vancouver, B.C. - Kaminak Gold Corporation (KAM: TSX-V)
and project partner, BCGold Corp. (BCG:TSX-V), have commissioned Fugro Airborne Surveys Corp. to conduct an airborne geophysical survey on Kaminak's 100% owned Voigtberg Property, located 40 km east of the high-profile Galore Creek Cu-Au-Ag project in northwest British Columbia. The airborne survey results will help establish priority targets for the upcoming summer exploration program, which will have a significant diamond drilling component.
The survey will consist of a total of 412 line-kilometres using Fugro's frequency domain electromagnetic "DIGHEM" and standard magnetometer systems. The frequency domain system is very well configured for creating resistivity maps used to delineate alteration patterns indicative of mineralization. The survey is to commence as soon as weather permits.
To date, the most significant target at Voigtberg is the "Gold Zone" which was drilled in 2006 and returned a near-surface intercept of 51.15 metres grading 1.03 g/t Au (see Kaminak news release dated October 25th
, 2006). The geological target at Voigtberg is a bulk tonnage "porphyry" system which can carry gold, copper and other base metals. Exploration results to date suggest the Gold Zone represents a gold-rich halo located on the periphery of a porphyry copper-molybdenum system.
Significant molybdenum mineralization was also discovered while prospecting on the property in 2006. Fifty rock samples, including 35 channel samples collected from an area measuring 100 x 200 metres, referred to as the "Moly Zone," averaged 680 ppm molybdenum. Follow-up of these results is a priority of the 2007 exploration program.
Equity Engineering Ltd. of Vancouver, British Columbia has been contracted to oversee the technical aspects of the Voigtberg Project. Murray Jones, P.Geo. is the Qualified Person for the purposes of National Instrument 43-101 and has reviewed the technical content of this news release.
About the Project
The Voigtberg Property is located 20 kilometres west of the Stewart-Cassier Highway, and 4 kilometres from the proposed access road to the high-profile Galore Creek Cu-Au-Ag Project in northwest British Columbia. A detailed geological compilation of the Voigtberg area was initiated after an encouraging diamond drill program was completed in the fall of 2006 resulting in new discoveries of gold and zinc on the Voigtberg Property. This work uncovered additional targets that were subsequently staked.
About the Joint Venture Agreement
Kaminak has granted BCGold the option to acquire up to a 60% interest in the Voigtberg Property by making $2,000,000 in exploration expenditures over four years and by issuing 400,000 units of BCGold to Kaminak. BCGold can earn an additional 10% interest in the Property by completing a bankable feasibility study, for a total earn-in of 70%.
About Kaminak Gold Corporation
Kaminak Gold Corporation is a project generator employing a joint venture strategy that maximizes opportunities for discovery while minimizing exploration and shareholder risk. A critical component of Kaminak's business model is working with strong project partners to advance the Company's exploration projects. Covering several million acres, Kaminak holds one of the largest land positions in Canada devoted to metallic mineral exploration. Kaminak's projects offer world-class exploration potential and present exposure to strategic commodities including, gold, uranium and nickel.
On behalf of the Board of Directors
"Rob Carpenter"
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
or call us at 604.646.4534.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain disclosures in this release, including management's assessment of Kaminak's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. 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.
|