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or Name

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Kapuskasing Gold Corp
Symbol KAP
Shares Issued 25,727,652
Close 2015-07-21 C$ 0.05
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ORIGINAL: Kapuskasing completes Rollo sampling, to begin drilling

2015-07-21 17:47 ET - News Release

Received by email:

File: KAP News Release July 2015 FINAL.docx


July 22, 2015 - Kapuskasing Gold Corp. (TSX-V: KAP) (the "Company" or "Kapuskasing") reports that it has completed cha
--->nnel sampling at its Rollo property in the area of the high gold grade sample (see news release June 11, 2015, "Kapusk
--->asing Gold Samples up to 11.5 g/t at Rollo - Airborne to be Flown at Borden North).  The property is located in the we
--->st end of the Swayze greenstone belt in northern Ontario.  Assay results are expected within a week and a diamond dril
--->l program is planned to commence immediately following.  Proposals from drillers operating nearby are currently being 
--->reviewed by KAP and the program will be announced when a contract and permits are finalized.

Running parallel to the program discussed above, the Company's exploration team has conducted prospecting and sampling
---> programs on the other gold bearing porphyries that were sampled late last year.  The plan is to advance these other a
--->reas to the drilling stage for later in the summer.  Running the programs in parallel allows for continual advancement
---> over a number of properties or areas in a cost efficient manner by utilizing the technical staff and drillers already
---> in the region.

The Company also announces a non-brokered financing of up to 6.25 million units (the "Units") of the company at a pric
--->e of 8 cents per Unit for gross proceeds of $500,000 (the "Offering"). Each Unit will consist of one common share in t
--->he capital of the Company and one common share purchase warrant. Each share purchase warrant will be exercisable into 
--->one common share at 12 cents for a period of 24 months from the closing of the financing.

Net proceeds will be used to complete additional exploration on the properties (see news release June 11, 2015, "Kapus
--->kasing Gold Samples up to 11.5 g/t at Rollo - Airborne to be Flown at Borden North).  The work will include the Rollo 
--->diamond drilling, airborne surveys, initiating prospecting at its other properties in the area and for general working
---> capital purposes. Plans are to complete the groundwork and geophysics, to identify summer drill targets in and around
---> the known structures and gold showings.

Completion of the Offering is subject to receipt of all regulatory approvals, including the approval of the TSX Ventur
--->e Exchange. All securities issued pursuant to the Offering will be subject to a statutory four-month hold period.

In connection with the Offering, Kapuskasing may, subject to regulatory acceptance, pay finders' fees to certain arm's
--->-length parties on the proceeds raised. Company insiders may be participating in the offering.

Kapuskasing controls six gold properties located along inferred extensions of the Destor-Porcupine structure in the Bo
--->rden Lake and Swayze areas.  The company's six properties surround Goldcorp's Borden Project that was purchased from P
--->robe Mines.  A detailed map and property descriptions can be viewed on the company's website at www.kapuskasinggold.co

On behalf of the Board of Directors:


"Dean Nawata"
Dean Nawata
President & CEO, Director
Phone 1-604-561-2821

Qualified Person

Mr. Garry Clark, the Exploration Manager and a director of the Company, a Qualified Person ("QP") as defined by Nation
--->al Instrument 43-101, has reviewed the technical content of this release.

Neither 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 and Cautionary Notes

Statements in this document which are not purely historical are forward-looking statements, including any statements r
--->egarding beliefs, plans, expectations or intentions regarding the future.  Forward-looking statements contained in thi
--->s document are based on certain key expectations and assumptions made by Kapuskasing, including, without limitation, e
--->xpectations and assumptions respecting the outlook of exploration activity on the Borden and Rollo properties and the 
--->impact on Kapuskasing's business and management assessment of future operations.  Although the forward-looking informa
--->tion contained in this press release is based upon what Kapuskasing's management believes to be reasonable assumptions
--->, the Company cannot assure investors that actual results will be consistent with such information. Forward-looking in
--->formation reflects current expectations of management regarding future events and operating performance as of the date
---> of this press release.

It is important to note that actual outcomes and the Company's actual results could differ materially from those in su
--->ch forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governm
--->ental, environmental and technological factors that may affect the Company's operations, markets, products and prices.
--->  Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its aud
--->ited financial statements filed with the British Columbia Securities Commission.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. 
--->Forward-looking information reflects management's current beliefs and is based on information currently available to t
--->he Company. The forward-looking information is made as of the date of this press release and Kapuskasing assumes no ob
--->ligation to update or revise such information to reflect new events or circumstances, except as may be required by app
--->licable law.

This news release contains information with respect to adjacent or similar mineral properties in respect of which the 
--->Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or rig
--->ht to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not
---> indicative of mineral deposits on the Company's properties.

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