Kapuskasing Drills 4.68 g/t Gold over 1.6 Metres at Rollo Property

Vancouver, British Columbia (FSCwire) - Kapuskasing Gold Corp. (TSX-V:KAP) (the “Company” or “KAP”) today announces results from the recent drill programs carried out at the Rollo Property and West Keefer Property.

The Rollo property is located approximately 50 km’s east of Chapleau in Northern Ontario. Geologically the property lies along the projected extension of the Destor-Porcupine fault zone, between IAMGOLD's Cote Lake gold deposit and Goldcorp's Borden Gold project.

Three diamond drill holes totaling approximately 150 metres were recently completed on the Rollo Property and the results confirmed the presence of significant gold mineralization.  The program was designed to test the continuity of the surface gold mineralization of the Racicot Gold Showing (as reported in news releases dated July 25, 2016 and August 6, 2015).  Interpretations suggest that gold mineralization is associated with a red syenite dike (possibly Timiskaming aged) that strikes approximately 100 degrees. 

Results from the drill program are summarized in the following table.

* all intercepts drill length, true widths not determined

A quality assurance/quality control program was employed consisting of inserting laboratory-prepared standards and blanks, and duplicates into the core sample stream. Samples were submitted to Activation Laboratories of Ancaster, Ont. for gold analysis using fire assay with atomic adsorption or gravimetric finish.

These results confirm the presence of gold mineralization associated with the contacts of the red syenite dike at depth.  Further work is being planned that includes additional drilling, and ground geophysics.  The Company congratulates Richmond Minerals Inc. (TSXV – “RMD”) on their recent drill program on the Ridley Lake Property where they intersected 33 metres of 1.26 g/t gold, including 7 metres of 4.11 g/t gold (refer to their press release).  The Ridley Lake Property is located approximately 3 km’s southwest of KAP’s Rollo Property. Both projects are located approximately 40 km’s due east of Goldcorp's Borden Gold Project.

“We are very encouraged with the drill results reported today, and the significant gold discovery made by Richmond Minerals nearby our Rollo property” stated Jon Armes, President and CEO of Kapuskasing Gold Corp. “The Company will continue to advance the Rollo property with additional exploration this fall.”

A diamond drill program consisting of 10 holes totalling approximately 1,000 metres was also recently completed on the West Keefer Property.  The Project is underlain by mafic and felsic metavolcanics, metasediments and intruded by granitic porphyries in a similar geological setting to Lakeshore Gold’s Timmins West Mine, located approximately 15 kilometers to the east along the Destor-Porcupine Fault Zone (“DPFZ”).

Although no significant gold mineralization was encountered in the drilling, lithologies favourable for hosting economic gold mineralization were identified. These favourable lithologies include Tisdale group volcanics and Porcupine group metasediments (which have been intruded by felsic intrusive rocks including quartz and syenite porphyries). Furthermore, these rocks were found to be variably altered (quartz, carbonate, sericite) and mineralized with pyrite, pyrrhotite, and arsenopyrite.

About the Company

Kapuskasing Gold has 7 gold properties located along extensions of the Destor-Porcupine or Borden Gold project. All of the properties, with the exception of Rollo and West Keefer, are situated within the Kapuskasing structural zones and have potential similarities to Goldcorp's Borden Gold project. A detailed map and property descriptions can be viewed on the Company's website: www.kapgold.com.

Mr. Robert Middleton, a Qualified Person ("QP") as defined by National Instrument 43-101, has reviewed the technical content of this release.

On behalf of the Board of Directors

Kapuskasing Gold Corp.

Jonathan Armes
President & CEO
Phone 1 (416) 708-0243

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 press release. 

This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company.  Forward looking statements reflect the current beliefs and expectations of management and are identified by the use of words including “will”, “anticipates”, “expected to”, “plans”, “planned” and other similar words.  Actual results may differ significantly.  The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company’s management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com.  Investors are cautioned not to place undue reliance upon forward-looking statements. 

This news release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The common shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

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