Website: www.kivalliqenergy.com

KIVALLIQ ENERGY CORPORATION (KIV: TSX-V) is a uranium exploration and development company based in Vancouver, Canada and the first company in Canada to sign a comprehensive agreement with the Inuit of Nunavut to explore for uranium on Inuit Owned Lands in Nunavut Territory, Canada. Kivalliq’s flagship project, the 225,000 acre Angilak Property in Nunavut, hosts the Lac Cinquante Deposit, Canada’s highest grade uranium deposit outside of the Athabasca Basin with a NI 43-101 Inferred Resource of 14.15 million pounds at 0.79% U3O8.

From the acquisition in 2008 up until 2010, Kivalliq invested approximately $12 million conducting exploration activities, including 18,350 meters of drilling. The company is currently conducting the 2011 exploration program – a $17 million dollar campaign with 30,000 m of drilling planned. Kivalliq’s management team has forged strong relationships with sophisticated resource sector investors and project partner Nunavut Tunngavik Inc. (“NTI”). The Company is focused on building shareholder value while adhering to a high level of environmental and safety standards and proactive local community engagement.

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Kivalliq Updates on Lac Cinquante Phase 2 Drilling

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Projects

Angilak Project, Nunavut

With an NI 43-101 compliant Inferred Mineral Resource of 810,000 tonnes grading 0.79% U3O8 , totalling 14.15 million lbs U3O8 (17.5 lbs U3O8/tonne) at a 0.2% U3O8 cut-off grade, the Lac Cinquante Deposit is Canada's highest grade compliant uranium deposit, outside of the Athabasca Basin. Kivalliq's flagship project, the 225,000 acre Angilak Property in Nunavut, hosts the high-grade Lac Cinquante deposit, along with nine additional high priority target areas. Since acquiring the Angilak Property in 2008, the Company has invested approximately $12 million conducting systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and 18,350 meters of drilling.

** The quoted disclosure for the Lac Cinquante Uranium Deposit was prepared by Aberford Resources Ltd, Abermin Corporation and referenced by subsequent sources. It is a historical estimate as defined in National Instrument 43-101, but should not be relied upon since it does not comply with standards of disclosure required for reserves and resources stated therein. However, it is relevant because: it is indicative of a mineralized zone worthy of follow-up exploration as it is based on drilling and surface exploration carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. A Qualified Person has not classified historical estimates as current mineral resources/reserves, and Kivalliq is not treating them as current mineral resources/reserves since work to date has not verified the historical estimates. Kivalliq has not done any work to confirm these estimates but will be planning exploration programs aimed at evaluating the economic potential of the deposit and environs. It is uncertain if further exploration will result in the deposit being delineated as a mineral resource.

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