October 1, 2008
Vancouver, B.C. � Kaminak Gold Corporation (KAM: TSX-V) announces that it has filed a Form 5G with the TSX Venture Exchange (�TSXV�) to purchase at market price up to 1,823,376 common shares being approximately 5% of Kaminak�s common shares, by way of a normal course issuer bid (the �Bid�) through the facilities of the TSXV. The Bid is subject to regulatory approval. The Bid will commence three clear trading days after TSXV acceptance and will stay open for 12 months. The reason for the Bid is that, in the opinion of the Board of Directors, the value of Kaminak is greater than the present aggregate market price of the common shares and accordingly the acquisition of the common shares under the Bid represent a worthwhile investment and appropriate use of funds. Purchases connected with this Bid will conducted through Blackmont Capital Inc.�s offices in Vancouver, BC.
Kaminak�s cash position of approximately CDN $5,000,000 enables the company to complete the bid without affecting the company�s business plan as a prospect generator.
A copy of the Notice of Intention to make a Normal Course Issuer Bid is available to shareholders by contacting Kaminak at 604-646-4527 or info@kaminak.com
About Kaminak
Kaminak Gold Corporation is an opportunity focused prospect generator. Kaminak's technical strength and entrepreneurial drive is complemented by a proven, successful business model designed to create shareholder value. Kaminak's business model employs a joint venture strategy that exposes Kaminak shareholders to multiple opportunities for discovery. Kaminak projects offer world-class exploration potential and present exposure to strategic commodities with an emphasis on gold.
On behalf of the Board of Directors KAMINAK GOLD CORPORATION /s/�Rob Carpenter� Rob Carpenter, Ph.D., P. Geo. President and CEO
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 toll free 1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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 plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak�s operations as mineral exploration companies that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. 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. |