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Kivalliq Announces Closing of Non-Brokered $1.5 Million Private Placement

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May 26, 2009

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (“Kivalliq” or “the Company”) today announced the closing of a non-brokered private approved by the TSX Venture Exchange totalling $1,565,000 CDN.

At closing, Kivalliq issued 5,180,000 flow-through units through two separate tranches at a price of $0.20 per unit, to raise proceeds of $1,036,000.  The warrants associated with the flow-through financing expire May 14, 2011 and May 27, 2011. 

Also at closing, Kivalliq issued 2,745,000 non-flow-through units, at a price of $0.20 per unit, to raise proceeds of $529,000.  The warrants associated with the non-flow-through financing expire May 27, 2011. 

All of the shares and any shares issued upon exercise of the units and the units comprising the compensation option are subject to a hold period and may not be traded in Canada until September 15, 2009 and September 28, 2009, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.

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 info@kivalliqenergy.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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.