VANCOUVER, BC–(Marketwired – June 21, 2016) –


Kivalliq Energy Corporation (TSX VENTURE: KIV) (“Kivalliq”) today announced plans for summer exploration at the Company’s Angilak Property in Nunavut Territory and a non-brokered private placement financing to raise gross proceeds of CDN$400,000, to fund mineral exploration at Kivalliq’s wholly-owned properties in Canada.

“We are excited to kick-off the first program designed to determine the scope and setting of exceptional gold, silver and PGM results reported from the Yat area since 2007,” stated Jeff Ward, Kivalliq’s President. “Prospecting at Yat in 2015 included one grab sample of 211 g/t gold, 80,900 g/t silver, 1.82% U3O8, 6.8% copper, 3.1 g/t platinum and 6.7 g/t palladium, which are very compelling results to follow up this season.”

Yat Target, Angilak Property (Nunavut Territory, Canada)

A $500,000 summer exploration program is planned at the Angilak Property in Nunavut Territory. The 2016 program will begin in early July by mobilizing staff and supplies to the existing Nutaaq camp. Kivalliq plans to carry out trenching, geological mapping, sampling and geochemical surveying at the Yat target, in addition to geochemical surveying along geophysical conductors in the vicinity of the Dipole uranium discovery (see Kivalliq news release October 19, 2015).

The Yat occurrence is located 16 km southwest of the Lac 50 uranium resource and 10 km northeast of the new Dipole discovery, near the northern margin of the Angikuni Basin. Kivalliq staff visited the area in 2015 to investigate high-grade polymetallic mineralization and visible gold (VG) periodically noted during previous Kivalliq prospecting programs. One of three boulder grab samples collected in 2015 returned the highest precious metal assays ever reported from the Angilak Property: 211 g/t Au, 80,900 g/t Ag, 1.82% U3O8, 6.8% Cu, 3.1 g/t Pt and 6.7 g/t Pd. A grab sample in 2007 returned 31.9 g/t Au, 1170 g/t Ag, 1.18% Cu and 0.25% U3O8 from historic trenches. Follow-up samples in 2010 confirmed these results with 12.90 g/t Au, 1140 g/t Ag and 1.44% U3O8 (See news release November 10, 2015).

Locally, the Yat area comprises a 100 m long group of sulphide-bearing radioactive subcrops and historic pits in conglomerate and sandstone. It is characterized by a discreet 250 m wide magnetic low having coincident high-grade Au-Ag-U-Cu-(Pt-Pd) mineralization, occurring with quartz-carbonate breccia and veins in hydrothermally altered host rock. Historic work in the late 1970’s and early 1980’s included U-Cu-Mo-Ag-Pb soil surveys, trenching and four drill holes. There is no record of historic rock analysis for Au, Ag, or platinum group metals (PGM). Uranium work by Kivalliq since 2007 has included airborne geophysics, prospecting, ground gravity, Mag-VLF surveys, and four shallow reverse circulation holes in 2011. To view compilation images for the Yat Target area please visit:

Flow-Through Financing

Kivalliq also today announced a non-brokered private placement financing to raise gross proceeds of CDN$400,000, to fund mineral exploration at Kivalliq’s wholly-owned Angilak and Hatchet Lake Properties in Canada. Kivalliq intends to raise the funds by issuing up to 4,000,000 units (“Units”), at the price of CDN$0.10 per Unit (the “Offering”). Each Unit consists of one common share issued on a “flow-through basis” (a “FT Share”) pursuant to the Income Tax Act (Canada) and one-half of one non-flow-through comm