Newmont Terminates Matrix Option

Vancouver, B.C. - Kaminak Gold Corporation (KAM: TSXV) today announced that Newmont Canada Limited has given notice of termination of the option agreement on Kaminak's 100% owned Matrix Gold Project.

Newmont spent approximately $2.2 million (USD) on the property since 2004, and had planned a 1,200m drill program on the property in July of 2006.  However, logistical problems prevented the drill program from being completed, resulting in priority targets remaining untested.

Newmont did complete geological mapping and prospecting during the 2006 season uncovering new surface gold showings yielding assays up to 10.56 g/t Au.  In July 2006, Newmont also staked an additional 30,000 acres in order to cover gold-bearing conglomerates in the nearby Montgomery Lake Group.

"We thank Newmont for their participation in exploration of the Matrix project" stated Rob Carpenter, President and CEO of Kaminak. "Newmont's work over the last three years has advanced this project from the conceptual stage and has led to the generation of numerous targets across the property. All of the excellent data generated to date can be used to formulate exploration programs going forward as we believe the geological potential at Matrix remains very high."

The Matrix project represents a unique geological analogue to the prolific goldfields of the Wittwatersrand Basin of South Africa. Similarities between Matrix and other paleoplacer districts include:

• Highly anomalous nature of the host quartz pebble conglomerate horizons
• Continuity of major lithologic units across the property
• Gold values correlated with conglomerates located at pronounced breaks within the section
• Broad association of gold with cobalt, nickel, arsenic like other paleoplacer districts

Newmont will provide Kaminak with a final report on the property as well as file appropriate work reports required to keep all claims and prospecting permits in good standing.  

Kaminak Gold Corporation holds one of the largest land positions, covering several million acres, 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.

Kaminak's disclosure of a technical or scientific nature are prepared under the supervision of 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.

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 call us at 604.646.4521

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 management's assessment of Kaminak's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operation as a mineral exploration company 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.

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