Kivalliq Chairman Rob Carpenter to Receive Award at British Columbia’s Mineral Exploration Roundup Conference
January 22, 2009
Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) today announced that Rob Carpenter, Chairman of Kivalliq and President and CEO of Kaminak Gold Corporation (KAM: TSX-V), is the recipient of the 2008 Robert R. Hedley Award which is given out by the Association for Mineral Exploration British Columbia (AME BC). The award honours individuals or companies based in British Columbia that have made significant contributions or advances in the realm of social or environmental responsibility.
“Dr. Carpenter has shown tremendous leadership by developing a partnership with the Inuit to explore for uranium on their land,” stated Brian Butterworth, chair of the AME BC Awards Committee.
Mr. Carpenter was selected for this award because he fostered Canada’s first Inuit uranium partnership between Nunavut Tunngavik Inc. (NTI), which manages Inuit Owned Lands (IOL) on behalf and for the benefit of the Inuit of Nunavut, and Kaminak Gold Corporation. In the transaction, Kaminak acquired the Angilak property and through a corporate spin-out formed Kivalliq Energy. Angilak is host to the historic Lac Cinquante Uranium Deposit, which is reported to contain 11.6 million pounds of uranium oxide at an average grade of 1.03% U3O8**. The deal is also the first of its kind to extend royalty and a participation interest to the Inuit on Crown administered land.
About Kivalliq Energy
Kivalliq Energy Corporation is a new uranium exploration and development company with a unique opportunity. Kivalliq is the first company in Canada to sign a comprehensive agreement to explore on Inuit Owned Lands for uranium. Through this landmark partnership with the Inuit of Nunavut, Kivalliq is now exploring and developing the historic Lac Cinquante Uranium Deposit, one of Canada’s most attractive, high-grade, historical uranium deposits. Reported to contain 11.6 million pounds of uranium oxide with grades averaging 1.03% U3O8 (non compliant with National Instrument 43-101) **, the historic Lac Cinquante Deposit and 75 other uranium occurrences on the property comprise Kivalliq’s core asset, the 270,000 acre Angilak Project.
On behalf of the Board of Directors
“John Robins”
John Robins, P.Geo
President and CEO
Kivalliq Energy Corporation
For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at [email protected].
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** The quoted disclosure for the Lac Cinquante Uranium Deposit was prepared by Aberford Resources Ltd and referenced by subsequent sources. It is a historical estimate as defined in National Instrument 43-101, but should not be relied upon since it does comply with standards of disclosure required for reserves and resources stated therein. However, it is relevant because: it is indicative of a mineralized zone worthy of follow-up exploration as it is based on drilling and surface exploration carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. A Qualified Person has not classified historical estimates as current mineral resources/reserves, and Kivalliq is not treating them as current mineral resources/reserves since work to date has not verified the historical estimates. Kivalliq has not done any work to confirm these estimates but will be planning exploration programs aimed at evaluating the economic potential of the deposit and environs. It is uncertain if further exploration will result in the deposit being delineated as a mineral resource.
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 Kivalliq's operations as a mineral exploration company 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. Kivalliq 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.