Ms. Eira Thomas reports

KAMINAK GOLD CORPORATION ANNOUNCES C$21 MILLION BOUGHT-DEAL PRIVATE PLACEMENT

Kaminak Gold Corp. has entered into an agreement with a syndicate of underwriters co-led by Cormark Securities Inc. and Raymond James Ltd., pursuant to which the underwriters have agreed to purchase 12,223,000 common shares at a price of 90 cents per common share and 8,696,000 flow-through common shares at a price of $1.15 per flow-through share of the company, on a bought-deal private placement basis, for aggregate gross proceeds to the company of approximately $21-million.

The company has also granted the underwriters an option to purchase up to 15 per cent of the number of common shares sold pursuant to the offering, exercisable at any time prior to the closing date.

The net proceeds from the sale of the common shares will be used to finance the exploration and development of the company's 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 company's properties in the Yukon, which will be renounced to the subscribers with an effective date no later than Dec. 31, 2015, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of flow-through shares. The CEE shall be incurred no later than Dec. 31, 2016.

The offering is scheduled to close on or about March 11, 2015, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange and the securities regulatory authorities.

We seek Safe Harbor.