Kaminak Gold Corp. Announces Closing of $13.52 Million Private Placement

VANCOUVER, BRITISH COLUMBIA -- (Marketwired - July 22, 2014) - Kaminak Gold Corporation (TSX VENTURE:KAM) ("Kaminak" or the "Company") is pleased to announce that the Company has closed the private placement financing (the "Offering") with Ross Beaty and Zebra Holdings and Investments S.à.r.l., Luxembourg (a company owned by a Trust whose settlor was the late Adolf H. Lundin) announced on July 14, 2014. The Company issued 16,900,000 units (the "Units") at a price of $0.80 per Unit, for gross proceeds of $13,520,000. Each Unit consists of one common share (a "Common Share") of the Company and one-half of one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share at a price equal to $1.20 for a period of 12 months following closing.

Each purchaser received the right to nominate one person to the Company's board of directors and a pre-emptive right to participate in any future proposed equity offering of the Company in order to maintain its pro rata shareholding, subject to certain exceptions. These rights can only be exercised by a purchaser if it owns more than a 5% interest in the Company.

The Company intends to use the net proceeds of the Offering for continued exploration and development of the Company's Coffee Gold Project in Yukon, Canada.

The securities issued under the Offering are subject to a hold period which will expire four months and one day from the date of closing, being November 17, 2014.


On behalf of the Board of Directors of Kaminak

Eira Thomas, President and CEO
Kaminak Gold Corporation



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.

This news release contains certain forward-looking statements including with respect to use of proceeds by the Company and exploration activities on its properties, and such statements involve risks and uncertainties. These forward-looking statements involve risks and uncertainties relating to, among other things, global economic conditions, changes in commodity prices and, particularly, gold prices, changes in exchange rates, access to skilled personnel, costs of labour, results of exploration and development activities, changes in exploration focus, uninsured risks, defects in title, availability and costs of materials and equipment, changes in applicable legislation or application thereof, and unanticipated environmental impacts on exploration. The results or events predicted may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release. Except as may be required by applicable securities laws, the Company disclaims any intention or obligation to update any forward-looking statement, whether as a result of new information, future events or results, or any other occurrence. Readers are cautioned not to place undue reliance on forward-looking statements.

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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES



Contact

Kaminak Gold Corporation
Tony Reda, Vice-President of Corporate Development
Toll Free: 1.888.331.2269 or Direct: 604.646.4534
info@kaminak.com
www.kaminak.com