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Kiska Metals Corp
Symbol KSK
Shares Issued 99,242,448
Close 2011-08-23 C$ 0.68
Market Cap C$ 67,484,865
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Kiska Metals drills 218 m of 0.55 g/t Au at Whistler

2011-08-24 08:17 ET - News Release

Mr. Jason Weber reports

KISKA CUTS LONG GOLD AND COPPER INTERSECTIONS, WHISTLER PROJECT, ALASKA

Kiska Metals Corp. has released results from the first two drill holes from the phase II program at the Whistler project, 160 kilometres northwest of Anchorage, Alaska. Both holes returned long gold, copper and silver intersections from the Raintree area. WH11-033 returned 218 metres averaging 0.55 gram per tonne (g/t) gold, 3.87 g/t silver and 0.11 per cent copper (0.83 g/t gold equivalent (AuEq)) from the Raintree West target while WH11-034 returned 77.3 metres averaging 0.58 g/t gold, 1.6 g/t silver and 0.19 per cent copper (0.99 g/t AuEq) from the Raintree North target.

Raintree West

WH11-033 was collared 100 metres west of WH11-030 (453.2 metres of 0.72 g/t gold, 3.2 g/t silver, 0.12 per cent copper), which intersected strong potassic alteration and copper-gold mineralization. WH11-033, drilled toward the west at an inclination of minus 65 degrees, intersected moderate potassic alteration in association with gold-copper mineralization which averaged 0.55 g/t gold, 3.87 g/t silver and 0.11 per cent copper over 218 metres within a 347.8-metre interval that averaged 0.53 g/t gold, 2.78 g/t silver and 0.08 per cent copper. As was the case in hole WH11-030, mineralization in WH11-33 is strongest within the diorite porphyry stock. The stock's steeply dipping western contact is thought to lie west of the bottom of hole WH11-33. Potential for expansion of the Raintree West porphyry zone remains in all directions.

                             RAINTREE WEST -- WH11-33

From (m)        To (m)    Width (m)     Au (g/t)     Ag (g/t)       Cu (%)   AuEq (g/t)

480.1          827.8**        347.8         0.53         2.78         0.08         0.73
480.1            698.0        218.0         0.55         3.87         0.11         0.83

Notes
* Gold equivalent calculations do not take into account metallurgical
recoveries and are based on in-ground metal using metal prices of $990
per ounce gold, $15.40 per ounce silver and $2.91 per pound copper.
** Hole ended in mineralization.
*** Both intersections averaged approximately 0.05 per cent lead and 
0.30 per cent zinc.

Raintree North

Hole WH11-034 was drilled to follow up hole WH11-032 (82.6 metres averaging 0.31 g/t gold, 1.1 g/t silver and 0.13 per cent copper), which was the first hole Kiska drilled at the new, near-surface, Raintree North prospect. The hole was collared on the same pad as WH11-032 with a dip of minus 70 degrees and an azimuth of 225 degrees. This hole returned 77.3 metres averaging 0.58 g/t gold, 1.6 g/t silver and 0.19 per cent copper (0.99 g/t AuEq) within a larger interval averaging 0.40 g/t gold, 1.53 g/t silver and 0.14 per cent copper over 148.5 metres. Mineralization is hosted by a diorite porphyry with moderate to strong potassic alteration with chalcopyrite disseminations and stockwork-style quartz plus magnetite plus chalcopyrite veins. This zone has a weak to moderate chlorite-sericite overprint.

                          RAINTREE NORTH -- WH11-034

From (m)       To (m)   Width (m)    Au (g/t)    Ag (g/t)      Cu (%)  AuEq (g/t)

152.0           300.5       148.5        0.40        1.53        0.14        0.71
181.7           261.0        79.3        0.57        1.55        0.19        0.99

Note
* Gold equivalent calculations do not take into account metallurgical
recoveries and are based on in-ground metal using metal prices of $990
per ounce gold, $15.40 per ounce silver and $2.91 per pound copper.

Results are pending from additional holes at both the Raintree West and Raintree North targets.

Kiska has completed 61 holes (15,050 metres) of drilling at Whistler since the summer program started in June. Seventeen conventional holes (8,157 metres) and 32 shallow scout holes (2,219 metres) have been completed in the Whistler Orbit area. Nine holes (3,716 metres) have been completed at Island Mountain and three holes (959 metres) at Muddy Creek.

The timing of lab results has lagged behind expectations; however, with this first batch of results a more steady flow of news is anticipated. These earliest results show Kiska's continuing success in expanding known prospects as well as identifying new ones such as Raintree North. Current emphasis is on shallow scout drilling and identifying new porphyry centres in the Whistler Orbit, Island Mountain and Muddy Creek. As fall progresses into winter conditions, focus will return to core areas such as the Raintree West for more methodical grid-based drilling and potentially, resource definition.

Qualified person statement

The content of this release has been reviewed by Mark Baknes, MSc, PGeo, vice-president, exploration, of Kiska Metals. Mr. Baknes is a qualified person as defined under the terms of National Instrument 43-101.

We seek Safe Harbor.

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