Ms. Eira Thomas reports

KAMINAK ANNOUNCES ACCELERATION OF EXPIRY DATE OF OUTSTANDING WARRANTS FOR PROCEEDS UP TO C$14.4M

Kaminak Gold Corp. has elected to accelerate the expiry date of 13,719,512 warrants issued as part of the Oct. 30, 2015, private placement from Oct. 30, 2017, to Wednesday, May 4, 2016. Each warrant may be exercised to acquire one common share of Kaminak at $1.05 for gross proceeds to Kaminak of up to $14.4-million if all warrants are exercised.

Under the terms of the warrants, Kaminak is permitted to accelerate the expiry date of the warrants if the volume-weighted average trading price of the company's common shares listed on the TSX Venture Exchange is at or above $1.35 for any 10 preceding trading days. Kaminak is pleased to confirm that an acceleration event occurred as of March 30, 2016. Accordingly, Kaminak has chosen to accelerate the expiry date of the warrants to 5 p.m. (Vancouver time) on Wednesday, May 4, 2016.