New surface channel samples from “KZ Zone” yield 0.38% U3O8 over 5.4m and 0.14% U3O8 over 2.8m

August 31, 2006 Vancouver, B.C. - Kaminak Gold Corporation (KAM:TSXV), and partner Pacific Ridge Exploration Ltd. (PEX:TSXV), today announced all regulatory permits have been approved and drilling has commenced on Kaminak’s 100% owned Baker Lake uranium property located in central Nunavut. Three initial priority drill targets have now been defined (694, KZ and Lucky-7) within the 510,000 acre property with the first drill holes planned to target the “KZ Zone”.

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