Kaminak Gold Corporation Receives Securityholder Approval of Acquisition by Goldcorp Inc.

VANCOUVER, Jul 12, 2016 - Kaminak Gold Corporation ("Kaminak" or the "Company") (TSX VENTURE:KAM) is pleased to announce that the previously announced acquisition of all of the issued and outstanding common shares of Kaminak ("Kaminak Shares") by Goldcorp Inc. ("Goldcorp") by way of plan of arrangement (the "Arrangement") has been approved by the holders of Kaminak Shares and options. At the special meeting of Kaminak shareholders and optionholders held on July 12, 2016 (the "Meeting"), a special resolution approving the Arrangement was approved by 99% of the votes cast at the Meeting in person or by proxy by holders of Kaminak Shares and options, voting together as a single class and approved by 99% of the votes cast at the Meeting in person or by proxy by holders of Kaminak Shares, excluding the votes cast in respect of Kaminak Shares held by interested parties required to be excluded pursuant to applicable securities law.

On closing of the Arrangement, Kaminak shareholders will receive, subject to the terms and conditions of the Agreement, 0.10896 common shares of Goldcorp for each Kaminak Share held.

The Arrangement is subject to final approval by the TSX Venture Exchange and the Supreme Court of British Columbia (the "Court"). The Court hearing for the final order to approve the Arrangement is scheduled to take place on July 14, 2016, and the completion of the Arrangement is expected to occur on July 19, 2016.

Additional information regarding the terms of the Arrangement are set out in Kaminak's management information circular dated June 7, 2016, which is available under Kaminak's profile at www.sedar.com.


On behalf of the Board of Directors of Kaminak

Eira Thomas
President and CEO



For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Concerning Forward-Looking Statements: Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation concerning the completion of the Arrangement. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to".

Forward looking statements contained in this press release may include statements regarding our ability to complete the Arrangement, which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.

Among those factors which could cause actual results to differ materially are the following: uncertainties as to the timing of the Arrangement and satisfaction of the conditions thereto, market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.



Contact

Kaminak Gold Corporation
Tony Reda, Vice-President of Corporate Development
604.646.4534 or Toll Free: 1.844.646.4520
info@kaminak.com
www.kaminak.com