Ms. Eira Thomas reports

KAMINAK REPORTS HIGH-GRADE INFILL DRILL RESULTS FROM THE DOUBLE DOUBLE DEPOSIT, COFFEE GOLD PROJECT

Kaminak Gold Corp. has released results for infill drilling at Double Double, the highest grade of four gold deposits being evaluated as part of a continuing feasibility study at Coffee, the company's flagship, development-track gold project located 130 kilometres south of Dawson City, Yukon. A National Instrument 43-101-compliant preliminary economic analysis completed for the project in 2014 included approximately 117,000 recoverable ounces from Double Double in years one and two of the mine plan, at an average diluted grade of 3.32 grams per tonne gold, contributing to a rapid two-year after-tax payback period for the project. At a gold-price of $1,250 (U.S.) per ounce and using an exchange rate of $1.00 equals 95 U.S. cents, Coffee is expected to generate a pretax net present value at a 5-per-cent discount rate of more than $500-million and an internal rate of return of 33 per cent. Further, Coffee could become a significant Yukon gold producer, yielding close to 450,000 ounces in the first two years and producing an average of 167,000 ounces annually over the life of mine at an all-in sustaining cash cost of $688 (U.S.) per ounce of gold.

A total of 6,850 metres of infill drilling from 47 holes was completed at Double Double in 2014 with the objective of verifying and upgrading the open-pit resources defined in the 2014 PEA from inferred to the higher-confidence category of indicated for inclusion in the Coffee mining feasibility study.

Infill drilling confirmed the existing Double Double geological interpretation, providing additional confidence in the location, geometry and continuity of the mineralized lodes. Drilling completed over the 2013 and 2014 field programs also delineated a previously unknown parallel mineralized structure -- Double Double North -- culminating in a standout 2014 intercept of 32.8 grams per tonne gold over 6.1 metres from 39.6-metre depth (CFR0731). This high-grade drill intercept is located just outside the PEA pit shell, thereby demonstrating potential for resource expansion beyond the limits of the current open-pit resource.

The location and spacing of infill drilling were determined in consultation with independent qualified person Robert Sim, PGeo, of Sim Geological Inc., who completed the Coffee gold project mineral resource estimates (announced Dec. 13, 2012, and updated Jan. 28, 2014). The company plans to update the mineral resource estimates for inclusion in the final feasibility study once all of the drill results from all 2014 to 2015 infill drill programs have been received.

                  INFILL DRILLING RESULTS
                                                 Weighted
Drill                                Width  average grade
hole           From (m)   To (m)   (m) (i)       (g/t Au)

CFD0387             154      155         1          12.30
CFD0387             167      178        11           2.70
CFD0387             192      197         5           1.18
CFD0387             204      215        11           0.61
CFD0393             176      181         5          37.60
CFD0398                                               NSV
CFD0401             146      148         2           2.71
CFD0401             157      159         2           8.36
CFD0401             203      206         3           3.33
CFD0405             170      176         6           3.32
CFR0685           48.77    54.86      6.09           2.30
CFR0687           47.24    48.77      1.53           2.81
CFR0689           39.62    41.15      1.53           9.06
CFR0689           57.91    65.53      7.62           2.60
CFR0691           57.91    59.44      1.53           2.23
CFR0692           47.24    50.29      3.05          10.73
CFR0694           39.62    41.15      1.53           1.15
CFR0696           79.25     82.3      3.05           3.08
CFR0696           88.39    91.44      3.05           1.73
CFR0698                                               NSV
CFR0699           42.67    48.77       6.1           5.86
CFR0701                                               NSV
CFR0702                                               NSV
CFR0704               0     3.05      3.05           5.03
CFR0704           12.19    13.72      1.53          12.70
CFR0706                                               NSV
CFR0707           53.34    54.86      1.52           4.24
CFR0708          102.11   103.63      1.52           1.01
CFR0710           30.48    42.67     12.19           4.08
CFR0710           65.53    73.15      7.62           0.98
CFR0710           97.54   105.16      7.62           2.88
CFR0711           56.39    57.91      1.52           4.98
CFR0713            9.14    42.67     33.53           5.07
CFR0714           74.68     76.2      1.52           2.77
CFR0714          102.11   112.78     10.67           1.42
CFR0716          121.92   129.54      7.62           1.93
CFR0717          140.21   141.73      1.52           6.20
CFR0719           97.54   100.58      3.04           5.95
CFR0720          121.92   126.49      4.57           3.86
CFR0722          105.16   111.25      6.09           2.10
CFR0723           21.34    24.38      3.04           6.43
CFR0725                                               NSV
CFR0726           73.15    82.30      9.15           8.72
CFR0730                                               NSV
CFR0735          117.35   121.92      4.57           1.17
CFR0700                                               NSV
CFR0703          100.58   102.11      1.53           1.31
CFR0705            9.14    12.19      3.05           1.0
CFR0709           45.72    60.96     15.24           1.99
CFR0709           70.10    73.15      3.05           1.84
CFR0712           76.20    80.77      4.57           1.93
CFR0715                                               NSV
CFR0718           47.24    48.77      1.53           1.19
CFR0721                                               NSV
CFR0724           68.58    73.15      4.57           1.80
CFR0724           79.25    82.30      3.05           2.38
CFR0728          126.49   128.02      1.53           2.07
CFR0731           39.62    45.72      6.10          32.78
CFR0732                                               NSV
CFR0734                                               NSV

(i) True width estimated at approximately two-thirds 
downhole length.              
Drill hole prefixes CFD are diamond core holes; 
CFR are RC drill holes.

All maps, sections and assay sheets associated with this news release can be viewed at the company's website.

Feasibility and environment baseline program updates

As announced July 28, 2014, the company initiated a mining feasibility study on the Coffee gold project with a targeted completion date of end 2015 or early 2016. Drilling and related field programs ended in the last week of November, 2014, and will resume in February, 2015. Drilling in 2015 will comprise continuing resource delineation infill, condemnation drilling of areas containing proposed mine infrastructure, and geotechnical and hydrological drilling. Environmental and heritage baseline studies, and engineering studies into the optimal route and design of the access road, are also advancing as planned. All metallurgical sampling was completed in 2014, and composites are now at the Kappes Cassiday and Associates Laboratory undergoing leaching and other test work.

Quality assurance/quality control

Kaminak's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Tim Smith, PGeo, vice-president, exploration, of Kaminak Gold, who serves as a qualified person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill sample string. Samples are placed in sealed bags and shipped directly to the ALS Minerals preparatory laboratory in Whitehorse prior to gold fire assay.

We seek Safe Harbor.