Kaminak Announces Closing of $21 Million Bought Deal Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 11, 2015) - Kaminak Gold Corp. (TSX VENTURE:KAM) ("Kaminak" or the "Company") is pleased to announce that the Company has closed the bought deal private placement financing (the "Offering") announced on February 18, 2015, which was co-led by Cormark Securities Inc. and Raymond James Ltd. and included BMO Nesbitt Burns Inc., Canaccord Genuity Corp., National Bank Financial Inc., Beacon Securities Limited, Euro Pacific Canada Inc., Paradigm Capital Inc. and Mackie Research Capital Corporation (collectively the "Underwriters").

The Company issued 12,223,000 common shares ("Common Shares") at a price of $0.90 per Common Share and 8,696,000 common shares, which qualify as "flow-through" shares for purposes of the Income Tax Act (Canada) ("Flow-Through Shares") at a price of $1.15 per Flow-Through Share, for aggregate gross proceeds to the Company of $21,001,100.

The Company intends to use the net proceeds from the sale of the Common Shares primarily to fund the exploration and development of the Company's Coffee Gold Project (the "Coffee Gold Project") located in Yukon, Canada and for general corporate and working capital purposes. The gross proceeds received by the Company from the sale of the Flow-Through Shares will be used to incur Canadian Exploration Expenses that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the Coffee Gold Project.

In connection with the Offering, the Underwriters received a cash commission on the sale of the Common Shares and the Flow-Through Shares, of up to 4.5% of the aggregate gross proceeds raised. 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 July 12, 2015.

On behalf of the Board of Directors of Kaminak

Eira Thomas, President and CEO

Kaminak Gold Corp.

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.

Forward-Looking Statements

This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include, but are not limited to, statements with respect to the use of proceeds. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

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.