Kaminak Receives CDN $2.2 Million From Warrant Exercises

VANCOUVER, BRITISH COLUMBIA, Feb 08, 2010 (MARKETWIRE via COMTEX News Network) --

Kaminak Gold Corporation (TSX VENTURE: KAM) today announced that the Company has received proceeds of CDN $2,268,353 from the exercise of 4,124,279 common share purchase warrants (the "Warrants") at C$0.55 per Warrant. The Warrants expired on February 5th, 2010 and were issued in connection with the Company's financings completed in June and July 2009.

To date, Kaminak has approximately CDN $10,000,000 in Working Capital (cash and marketable securities) including CDN $7,700,000 in cash, no debt and no warrants outstanding. The Company's current issued and outstanding share capital is 47,382,556 common shares.

On behalf of the Board of Directors of Kaminak

Rob Carpenter, Ph.D., P.Geo., President and CEO

Kaminak Gold Corporation

Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

Contacts: Kaminak Gold Corporation Tony Reda Investor Relations Toll Free: 1.888.331.2269 or direct: 604.646.4534 info@kaminak.com www.kaminak.com

SOURCE: Kaminak Gold Corporation

mailto:info@kaminak.com http://www.kaminak.com

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