Kaminak NewsKaminak Significantly Increases Coffee Gold Land Position; Acquires Two MoreWhite Gold District Projects and a Proprietary Database From RyanwoodExploration
VANCOUVER, BRITISH COLUMBIA, Mar 29, 2010 (MARKETWIRE viaCOMTEX) -- Kaminak Gold Corporation (KAM) is pleased to announce the Company hasacquired through staking 750 mineral claims (37,500 acres) in the White GoldDistrict, Yukon Territory. These new claims adjoin Kaminak's Coffee propertywhich is located 20km south of Underworld Resources Ltd.'s Golden Saddledeposit. Exploration by Kaminak on the Coffee property in 2009 successfullyidentified numerous high-grade surface gold discoveries that are planned toundergo drill testing this spring.
The Coffee property now totals 1803 claims (90,150 acres or360 square kilometers) and measures 43km long by up to 13km wide. These newclaims were staked in order to cover new high-priority targets that wereidentified by Kaminak's and Ryanwood's in-house technical team. These areas haveseen minimal past exploration and Kaminak intends to undertake an aggressivesoil and trenching program on these new claims in 2010. Soil sampling is themost effective regional exploration tool in the White Gold District and hasproven successful at identifying drill targets for both Kaminak and Underworld.
Kaminak has also acquired a proprietary database along withthe LION and SUGAR properties from Ryanwood Exploration Ltd. The databasecontains results for over 800 historical rock and soil samples collected byRyanwood in the White Gold District. The LION and SUGAR properties are locatedalong the southern and eastern margin of the Coffee property respectively andare host to numerous gold targets. Rock sampling in 2009 by Ryanwood on the LIONproperty yielded results up to 2.9 g/t Au from white quartz veins carryinggalena, tetrahedrite, stibnite and sphalerite. The host granite is heavilyaltered, silicified and brecciated. Kaminak and Ryanwood have agreed to amendthe original Coffee property agreement whereby upon TSX Venture Exchangeapproval, Ryanwood will receive 300,000 Kaminak shares and $30,000.