Kaminak Reports New High-Grade Surface Occurrences from the Needle Gold Property, Nunavut

Vancouver, B.C. - Kaminak Gold Corporation (KAM: TSX-V) today announced final results from the 2007 exploration program on the Needle Gold Property, Nunavut, located approximately 450 km northeast of the city of Yellowknife, Northwest Territories. The program was operated and funded by Kaminak's project partner TerraX Resource Corp.

Key Point Summary:

• Newly discovered surface zone yields 24 g/t Au, 70 g/t Ag, 1.7% Zn and 0.5% Pb
• Additional drill targets identified along strike and down-dip of previous high-grade drill intercepts
• Visible gold observed from 486 g/t Au grab sample

Exploration Results

TerraX assembled a complete GIS database on the property, reprocessed available geophysical data and conducted a field program that consisted of prospecting, geological mapping, examination of known gold showings, and soil surveys over the most prospective portion of the property.  Fifty-nine grab samples were collected, of which fourteen assayed greater than 5 g/t Au, and the highest was 486 g/t Au.  Several geochemical anomalies were obtained from the soil survey, which the parties intend to follow up in 2008. 

A new style of mineralization was discovered on the property and consists of zinc and lead-rich precious metal occurrences. An outcropping surface grab sample from one such discovery yielded 24 g/t Au, 70 g/t Ag, 1.7% Zn and 0.5% Pb. This occurrence is coincident with a strong geophysical conductor which has yet to be fully defined. No previous drilling has been completed over this target.
TerraX identified additional drill targets from the main Needle Gold Zone which was drilled by previous workers in 1990. Data examination revealed evidence that the three mineralized intercepts from the 1990 drill program occur on the same structure, which remains untested along strike or down dip.  Drill results from 1990 at the Needle Zone include 9.46 g/t Au over 3.43m of core length and 11.58 g/t Au over 2.02m core length.  The 486 g/t Au assay obtained by TerraX in 2007 was from a large (> 1 cubic m), angular boulder/subcrop, located within 100 metres of the mineralized structure described above. The rock contains visible gold associated with vein quartz and abundant arsenopyrite and chlorite.

Quality Control

Samples were shipped to Activation Laboratories in Ancaster, Ontario and were analyzed for gold plus 48 elements. Gold was analyzed by fire assay and the other elements were variably analyzed by INAA or ICP-OES. Kaminak's disclosure of a technical or scientific nature contained in this press release has been reviewed and approved by Rob Carpenter, Ph.D., P.Geo., Kaminak's President and CEO, who serves as the Qualified Person under the definition of National Instrument 43-101.  Historical gold assays from previous surface sampling and drilling were obtained from reports written and supervised by Professional Geologists.  Although this data cannot be confirmed, it is considered reliable.  Certified laboratory assay sheets accompanied these reports.

About Kaminak

Kaminak Gold Corporation is a prospect generator employing a joint venture strategy that maximizes opportunities for discovery while attempting to minimize exploration risk to the company.  A critical component of Kaminak's business model is working with strong project partners to advance Kaminak's exploration projects. Covering several million acres, Kaminak holds one of the largest land positions in Canada devoted to metallic mineral exploration. Kaminak's projects offer world-class exploration potential and present exposure to strategic commodities, including gold, uranium and nickel.

On behalf of the Board of Directors

"Rob Carpenter"

Rob Carpenter, Ph.D., P. Geo.
President and CEO
Kaminak Gold Corporation

For further information about Kaminak Gold Corporation, or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Investor Relations, at 604.646.4534.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Certain disclosures in this release, including without limitation future intended exploration programs and management's assessment of Kaminak's plans and projects, constitute forward-looking statements. Such forward-looking statements are subject to numerous risks, uncertainties and other factors relating to Kaminak's operation as a mineral exploration company, including without limitation the timing and success of intended exploration programs that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements.  Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.