Eira Thomas, CEO commented, “The Coffee Project continues to gather momentum with each successive milestone, and we remain optimistic that the PEA will support the potential for a low-cost, high margin mining opportunity at Coffee. As we await the results of the PEA, we are launching a very focused Phase I 2014 program designed to evaluate new prospective targets that emerged from our work in 2013 that have the potential to yield additional near surface, oxide gold discoveries in the immediate vicinity of the resource. In addition, we will be following up on previous drill discoveries that remain largely untested that also have the potential to contribute near surface, oxide ounces, which could impact the next stages of mine planning and possibly enhance the economics further.”
Priority 2014 Drill Targets Include:
In addition to drilling, approximately $1.5 million of the Phase I budget will be dedicated towards environmental baseline and studies with local First Nations in support of ongoing permitting activities.
Kaminak’s disclosure of technical or scientific information in this press release has been reviewed and approved by Tim Smith, MSc, P.Geo., Vice President Exploration of Kaminak Gold Corporation, who serves as a Qualified Person under the definition of National Instrument 43-101.
On behalf of the Board of Directors of Kaminak
“Eira Thomas”
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 contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com.
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.
Caution Concerning Forward-Looking Statements
Certain disclosures in this release, including management’s assessment of the future potential of the Coffee Project and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak’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. Except as required by law, 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.
The Company has not made a production decision and the Company’s strategic plan to develop a stand-alone heap leach operation is subject to the results of its Feasibility Study. Further, if and when the Company makes any production decision, it will disclose the basis of such decision in accordance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).
Cautionary Note concerning estimatesof Inferred Resources:
This news release uses the term “inferred resources”. Inferred resources have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. Kaminak advises U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission do not recognize it. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.
NT2