News

Kivalliq Commences Drilling at Lac Cinquante Uranium Project

print pagePrint Page | Email


August 5, 2009

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the “Corporation” or “Kivalliq”) today announced that Phase One of a planned 10,000 metre diamond drill program has commenced on its Lac Cinquante uranium project located in Nunavut, Canada.

This first phase of drilling will consist of up to 2,000 metres and is designed to confirm high-grade intercepts, verify dimensions and test the potential to expand this historic uranium deposit. Reports by previous operators indicate that Lac Cinquante remains untested at depth and along strike. The summer program will include step-out drilling on the EM (Electro-Magnetic) conductor directly associated with the Lac Cinquante deposit and on parallel conductors that make up the nine kilometre long "Lac Cinquante trend". The balance of the drill program is anticipated to be carried out in 2010. Additional prospecting and sampling will also be conducted along "the Lac Cinquante trend" (see Press release dated June 1/2009).

QA/QC 

Disclosure of a technical nature contained in this release has been reviewed and approved by Jeff Ward, P.Geo (Vice President Exploration of Kivalliq) and Rob Carpenter, Ph.D., P.Geo (Chairman of Kivalliq) who are Qualified Persons for the purposes of National Instrument 43-101.

About Kivalliq Energy Corporation

Kivalliq Energy Corporation is a new uranium exploration and development company, and the first company in Canada to sign a comprehensive agreement with the Inuit of Nunavut to explore for uranium on Inuit Owned Lands in Nunavut .

This landmark partnership with the Inuit gives Kivalliq a unique opportunity to explore and develop the Lac Cinquante Deposit, northern Canada ’s highest grade uranium deposit.  Reported to contain 20.4 million pounds of uranium oxide with grades in excess of 1% U3O8 (not National Instrument 43-101 compliant), the historic Lac Cinquante uranium deposit and over 150 other uranium occurrences on the property comprise Kivalliq’s core asset, the 270,000 acre Angilak Project.

Kivalliq Energy Corporation is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

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.

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.