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Kivalliq Files NI 43-101 Technical Report on the Lac Cinquante Deposit, Nunavut

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March 24, 2011

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSXV) today announced the completion and filing of a National Instrument 43-101 independent technical report on the Company’s Lac Cinquante Uranium Deposit at the Angilak Project, Nunavut, Canada. 

 The independent Technical Report was prepared by Apex Geoscience Ltd. with the Mineral Resource estimate for the Lac Cinquante Deposit contained therein prepared under the direction of SIM Geological Inc., following the guidelines of the Canadian Securities Administrators National Instrument 43-101 and Form 43-101F1. 

The report titled “Technical Report on the Angilak Project, Kivalliq Region, Nunavut” will be filed on SEDAR and can be viewed on the SEDAR website, www.sedar.com, the Kivalliq website, www.kivalliqenergy.com, or by following this link:

http://kivalliqenergy.com/_resources/LacCinquante_NI-43101.pdf

The information in this release related to the independent  Technical Report and the Mineral Resource estimate has been approved by Michael Dufresne, P.Geol and Robert Sim, P.Geo. of SIM Geological Inc., who are independent Qualified Persons as defined under National Instrument 43‐101. Jeff Ward, P.Geo, President of Kivalliq and a Qualified Person for the Company, has reviewed and approved the information contained in this release.

About Kivalliq Energy Corporation

Kivalliq Energy Corporation is a 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.

With an NI 43-101 compliant Inferred Mineral Resource of 810,000 tonnes grading 0.79% U3O8, totaling 14.15 million lbs U3O8 (17.5 lbs U3O8/tonne) at a 0.2% U3O8 cut-off grade, the Lac Cinquante Deposit is Canada’s highest grade uranium deposit, outside of the Athabasca Basin. Kivalliq’s flagship project, the 225,000 acre Angilak Property in Nunavut, hosts the high-grade Lac Cinquante deposit, along with nine additional high priority target areas. Since acquiring the Angilak Property in 2008, the Company has invested approximately $12 million conducting systematic exploration.

 On behalf of the Board of Directors

“James Paterson”
James Paterson, 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 Investor Relations at 1.888.331.2269 toll free, directly at 604.646.4527 or by email at info@kivalliqenergy.com.  

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