VANCOUVER, BC --(Marketwired - July 25, 2017) - Kivalliq Energy Corporation
(TSX VENTURE: KIV) ("Kivalliq") today announced the start of a summer exploration program at the
Baffin Gold Property in Nunavut Territory, Canada. Kivalliq will also be visiting the Qikiqtani Region to update the communities
of Clyde River and Qikiqtarjuaq, located 260 kilometres and 360 kilometres from the Baffin Gold Property respectively, between
July 26 and July 28.
2017 Baffin Gold Exploration Program Summary
- Kivalliq is fully funded to execute the proposed exploration program of $775,000;
- Camp and supply mobilization and placement of field crews commenced on July 23;
- Through the month of August, crews will focus on ground-truthing and corroborating historic results through geological
mapping, prospecting, geochemical rock and till sampling;
- This summer's efforts will focus on multiple geological and structural settings hosting significant gold mineralization
primarily on Inuit Owned Land (IOL) parcels, and more specifically, the Kanosak and Central Belt areas;
- Excellent potential exists to make new discoveries and demonstrate continuity of mineralization at unexplained gold
occurrences along strike of favorable geology and structural settings.
2017 Exploration Activities:
- Explore areas of anomalous gold geochemistry (rock and till) at numerous locations along at least 100 kilometres of strike
which were not followed up by resampling or drilling by previous exploration groups;
- Prospect, infill and characterize broad till and geochemical gold anomalies focussing on ice movement indicators, till
composition, and local dispersion patterns;
- Test geochemical sampling methods in areas of cover where existing geophysical data suggests extensions to known gold zones
and favourable host geology;
- Review and resample historic drill core;
- Fly drone surveys over Kanosak and Central Belt areas to produce high resolution air photos and digital elevation
models;
- Collect a combination of approximately 1,000 rock and till samples to evaluate known occurrences and evaluate areas of
anomalous geochemistry.
Baffin Gold Property Highlights:
- Large land position with exclusive control of one of the last remaining undeveloped greenstone belts in Canada;
- Covers a highly mineralized gold system hosting known high-grade gold occurrences in multiple geological settings: iron
formation, shear zones, quartz veins, metasediments and metavolcanics;
- Over $25 million* of exploration data and extensive geoscience databases from BHP-Billiton, Falconbridge, Commander
Resources and AngloGold Ashanti exploration programs performed between 2001 and 2011 (*based on publicly disclosed
reports);
- An existing camp, tidewater access and two 1,200 m airstrips will help to accelerate future work programs and potential
development
To view tables, text, and maps with further information on Kivalliq's Baffin Gold Property, please visit www.kivalliqenergy.com.
The Baffin Gold Property is a district-scale land package covering an entire Proterozoic-age gold belt having geological and
structural similarities to multi-million ounce gold mines in the north (i.e. Meadowbank, Lupin) as well as the prolific Homestake
Mine in South Dakota. Previous exploration has identified numerous prospects along 140 kilometres of strike length, with
high-grade gold occurring in multiple settings: silicate and sulphide iron formation; shear zones and quartz veins hosted in
granodiorite, metavolcanics and metasediments.
The 408,981.6 hectare Baffin Gold Property covers 160 kilometres of the Foxe Fold Belt on central Baffin Island and is
comprised of consolidated mineral tenure located approximately 260 kilometres southwest of the community of Clyde River on Baffin
Island, in the Qikiqtani region of Nunavut. This property comprises fifteen prospecting permits, six crown mineral claims and
three Inuit Owned Land parcels subject to MEA's with NTI.
Kivalliq Exploration Priorities
The Kanosak, Ridge-Malrok (Central), and Durette zones are the most advanced gold prospects within the Proterozoic Bravo Lake
Formation ("BLF") and represent the range of mineralization and structural analogues within the BLF. These will help guide future
exploration programs covering the rest of the property.
Kivalliq's exploration efforts will target near surface gold in BLF banded iron formations and greenstone-metasediment hosted
quartz veins, similar to other gold deposits in the Nunavut and Northwest Territories, and particularly the prolific Proterozoic
aged Homestake Mine in South Dakota. Exploration priorities include ongoing review, compilation and reinterpretation of all
geological and exploration data, to develop integrated structural, geophysical and geochemical models targeting the untapped
potential of this extremely prospective gold belt.
Initial field work planned for the summer of 2017 will systematically explore the BLF gold belt and ground truth newly
developed exploration models. The program will infill earlier datasets and prioritize un-sourced gold anomalies occurring in
till, soil and boulders. Drilling in future exploration campaigns will further assess known prospects, new structural targets,
untested areas of outcropping mineralization and blind targets in covered areas based on till geochemistry and geophysics.
QA/QC
Kivalliq has not performed any exploration on the Baffin Gold Property to date. Jeff Ward, P.Geo., President of Kivalliq and a
Qualified Person for Kivalliq, has reviewed and approved the scientific and technical information contained in this release.
About Kivalliq Energy Corporation
Kivalliq Energy Corporation (TSX VENTURE: KIV) is a Vancouver-based company with a portfolio of
high-quality uranium and precious metal exploration projects in Canada. In addition to the new Baffin Gold Property, Kivalliq
holds Canada's highest-grade uranium resource outside of Saskatchewan. The Company's flagship project, the 89,852 hectare Angilak
Property in Nunavut Territory, hosts the Lac 50 Trend with a NI 43-101 Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8,
totaling 43.3 million pounds U3O8. Kivalliq's comprehensive exploration programs continue to demonstrate the "District Scale"
potential of the Angilak Property. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please
refer to Kivalliq's news release of March 1, 2013.
In Saskatchewan, Kivalliq holds a 100% interest in the 13,711 hectare Hatchet Lake Property adjacent to the north-eastern
margin of the highly prolific uranium-producing Athabasca Basin. Compilation of results from previous exploration by Hathor
Exploration Limited and Rio Tinto have identified multiple, priority unconformity-related basement targets at Hatchet Lake that
were followed up in 2015.
Kivalliq also holds a 100% interest in the 131,412 hectare Genesis Property located northeast of Saskatchewan's Athabasca
Basin, with Roughrider Exploration Limited funding the current exploration program pursuant to an option to acquire up to an 85%
interest in the property. This highly prospective project is located along the Wollaston-Mudjatik trend and extends 90 kilometres
northeast from Wollaston Lake to the Manitoba border.
Kivalliq's team of northern exploration specialists has forged strong relationships with sophisticated resource sector
investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. Kivalliq was the first company
to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory, Canada and is committed to
building shareholder value while adhering to high levels of environmental and safety standards and proactive local community
engagement.
On behalf of the Board of Directors
"Jim Paterson"
James R. Paterson, Chairman & CEO
Kivalliq Energy Corporation
Kivalliq Energy Corporation is a member of the Discovery Group of Companies, for more information please visit:
www.discoverygroup.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain disclosures in this release constitute forward-looking statements that are subject to numerous risks, uncertainties
and other factors relating to Kivalliq'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. Other than as required by
applicable securities legislation, Kivalliq 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.