Exploration & Drilling Archives - Page 15 of 19

Kivalliq Energy Corporation (“Kivalliq”; TSX-V: KIV) today reports both the discovery of a highly-radioactive new zone, “J4”, located 2.3 kilometres southeast of its high-grade Lac Cinquante uranium deposit, and the extension of the strike length of the recently-discovered Ray Zone to 310 metres. These results are from the on-going, $20 million exploration program at Kivalliq’s 252,830 acre Angilak Property in Nunavut Territory, Canada. Exploration has focussed on evaluating linear electromagnetic (“EM”) conductors occurring within 2.5 kilometres of the Lac Cinquante deposit by exploratory diamond drilling in 2012. Assay results will be released when available.

Key Point Summary

The newly discovered J4 Zone is 300 metres to the north of, and runs parallel to the recently discovered Ray Zone. J4 Zone is associated with a one kilometre long EM conductor located 2.3 kilometres east of the Lac Cinquante resource area.
J4 Zone diamond drilling has intersected significant radioactivity in six of six holes over a strike length of 50 metres, with the deepest intercept at 183 vertical metres. The J4 Zone remains open along strike and to depth.
Five of six new core holes at the Ray Zone have intersected radioactivity associated with a subtle EM conductor; eight of nine holes at Ray have intersected radioactivity over 310 metres strike length. Ray is situated two kilometres along strike and southeast of the Lac Cinquante resource area.

“This marks the fourth new zone discovered within 2.5 kilometres of the Lac Cinquante deposit so far this season,” stated Jeff Ward, President. “Our targeting techniques continue to demonstrate the tremendous mineral potential of the Angilak Property, and specifically the area surrounding the high-grade Lac Cinquante resource.”

Ongoing exploration drilling in 2012 will continue to investigate multiple uranium targets generated on previous programs. Kivalliq expects to drill 26,000 metres of NQ core on advanced targets using three diamond drill rigs and 9,000 metres of reverse circulation drilling (“RC”) designed to prioritise exploration targets. Extensive ground based geophysical surveying, prospecting and soil sampling campaigns are also planned for 2012.

Exploration progress in 2012 to date includes:

92 diamond drill holes totalling 17,043 metres focussed on linear geophysical targets, radioactive zones identified by RC drilling, and deep drilling at Lac Cinquante
24 RC holes totalling 3,807 metres prioritising areas for follow-up diamond drilling
445 line kilometres of ground geophysical surveying

J4 Zone Discovery

Highly radioactive mineralization has been intersected in six holes drilled from two drill sites along 50 metres of strike length at the J4 Zone. J4 is a one kilometre long EM conductor located roughly 2.3 kilometres east of Lac Cinquante mineralization and about 300 metres north of the Ray Zone (see June 25, 2012 news release).

J4 hosts two sub-parallel mineralized horizons, 20 metres to 25 metres apart, referred to as the J4 Upper Zone and the J4 Lower Zone. The J4 Upper Zone has been intersected at depths between 49 and 123 vertical metres. The J4 Lower Zone has been intersected between 63 metres and 183 metres vertical depth. Radioactivity at J4 is hosted in narrow carbonate veins in sheared sulphidic graphitic tuff within a larger sequence of basalt and gabbro. Radioactive readings between 170 and a peak of 31,500 counts per second (“cps”) were measured over down hole intervals up to 1.5 metres in the J4 Upper Zone. Radioactive readings between 170 and a peak of 27,000 cps were measured over 0.3 metre intervals in the J4 Lower Zone

Ray Zone

Five additional radioactive intervals have been drilled at Ray since the news release of June 25, 2012. The Ray Zone is a subtle EM conductor two kilometres along strike and southeast of Lac Cinquante’s Eastern Extension. Radioactive mineralization has been intersected in eight of nine holes from three drill sites along 310 metres of strike length. One hole was lost while collaring. Anomalous radioactivity has been intersected between vertical depths of 41 metres and 146 metres. Radioactivity ranges from 200 to 8460 cps in down hole core intervals of up to 1.5 metres. Mineralization at Ray Zone occurs in a narrow sulphidic, graphitic tuff horizon, similar to mineralization at Lac Cinquante.

All holes in target areas were drilled northeast with azimuths of 26 degrees at inclinations between -45 and -90 degrees. For maps and drill plan images, please visit www.kivalliqenergy.com/projects/angilak/program_images.

QA/QC

Half-spilt core samples from holes drilled at the Angilak Property, with anomalous radioactivity levels between 170 and 31,500 cps measured to date, have been sent to Saskatchewan Research Council Geoanalytical Laboratories (“SRC”) for analysis. The SRC facility operates in accordance with ISO/IEC 17025:2005 (CAN-P-4E), General Requirements for the Competence of Mineral Testing and Calibration laboratories and is accredited by the Standards Council of Canada. Kivalliq’s quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Chemical assay results from this drill program will be reported by Kivalliq upon receipt.

Natural gamma radiation in drill core was measured in cps using a hand-held Radiation Solutions Inc. RS-121 scintillometer or RS-230 spectrometer. Kivalliq cautions that scintillometer readings are not directly related to uranium grade and are only used to indicate zones of radioactive material.

Jeff Ward, P.Geo. and President of Kivalliq has reviewed and approved the scientific and technical information contained in this news release and is the Qualified Person as defined under National Instrument 43-101 for this news 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 to explore for uranium on Inuit Owned Lands in Nunavut.

Kivalliq’s 252,830 acre Angilak Property hosts the high-grade Lac Cinquante deposit, along with multiple highly-mineralized target areas. With a NI 43-101 Inferred Mineral Resource of 1,779,000 tonnes grading 0.69% U3O8, totalling 27.13 million pounds U3O8, (15.2 pounds 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.

Since acquiring the Angilak Property in 2008, Kivalliq has invested approximately $30 million conducting systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and approximately 48,000 metres of RC and diamond drilling.

On behalf of the Board of Directors

James R. Paterson, CEO
Kivalliq Energy Corporation

For further information about Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com.

Kivalliq Energy Corporation is a member of the Aurora Resource Group of companies. For more information please visit www.auroraresource.com.

Certain disclosures in this release, including management’s, intentions with respect to use of proceeds, the 2012 Angilak exploration program 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 market price of the Company’s securities and the market for securities of resource exploration companies in general; commodity prices and, in particular, the price of uranium and the completion of the Company’s plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Other than as required by applicable securities legislation, 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Kivalliq Energy Corporation James R. Paterson CEO 604.646.4527 or Toll Free:

1.888.331.2269 [email protected] www.kivalliqenergy.com

Vancouver, British Columbia

Kivalliq Energy Corporation (“Kivalliq”) (TSX-V: KIV) today provided an update on the $20 million exploration program at the 252,830 acre Angilak Property in Nunavut Territory, Canada. Kivalliq reports anomalous radioactivity from additional drilling at the Western Extension, Pulse, and three new zones identified this season. Thus far, diamond drilling in 2012 has focused on evaluating linear electromagnetic (“EM”) conductors occurring within 2.5 kilometres of the high grade Lac Cinquante uranium deposit. Assay results will be released when available.

Key Point Summary

Western Extension Zone at Lac Cinquante was extended to 365 vertical metres by hole 12-LC-007. This is the deepest known radioactive intercept reported on the Angilak Property to date.
The new Southwest Zone has been discovered 300 metres to the southwest of, and running parallel to, the Western Extension.
Pulse Zone diamond drilling intersected radioactivity in 14 of 27 holes that tested the Pulse geophysical anomaly over 1.3 kilometres of strike length.
A second new radioactive zone, Flare, is associated with a 1.5 kilometre long EM conductor located 1.7 kilometres west of the Lac Cinquante resource area.
Three core holes at the new Ray Zone have intersected radioactivity associated with a subtle EM conductor. Ray is situated two kilometres along strike and southeast of the Lac Cinquante resource area.

“Initial results from diamond drilling at numerous conductors close to Lac Cinquante are very encouraging” stated Jeff Ward, President. “This first round of drilling confirmed that targeting geological and geophysical analogues to Lac Cinquante can discover similar radioactive zones nearby with appreciable strike length.”

Ongoing aggressive exploration in 2012 will investigate multiple uranium targets discovered or advanced by the 2010 and 2011 prospecting and geophysical programs. In addition, the company intends to build on the current inferred resource of 27.13 million pounds U3O8 at Lac Cinquante. Kivalliq expects to drill 26,000 metres of NQ core on advanced targets using three diamond drill rigs and 9,000 metres of reverse circulation drilling (“RC”) designed to prioritise exploration targets. Extensive ground based geophysical surveying, prospecting and soil sampling campaigns are also planned for 2012.

Exploration progress in 2012 to date includes:

64 diamond drill holes totalling 11,650 metres focussed on linear geophysical targets and radioactive zones from RC drilling
17 RC holes totalling 3,048 metres designed to prioritise areas for follow up diamond drilling
445 line kilometres of ground geophysical surveying

Western Extension
New drilling at the Western Extension has started testing below the current Lac Cinquante resource area. Thirteen diamond drill holes from seven sites intersected the host shear zone using 100 metre hole spacing. Of these, seven intersected anomalous radioactivity, outlining southwest plunging mineralization, including the deepest radioactive intercept on the property to date at 365 metres (hole 12-LC-007). Anomalous gamma values range from 200 to a peak of 17,000 counts per second (cps), with down hole intercepts of 0.3 to 2.6 metres wide. Continued deep drilling is warranted at the Western Extension.

Southwest Zone
Radioactive mineralization was identified along 200 metres of an EM conductor located roughly 300 metres southwest of, and parallel to, the Western Extension. Eight of 11 holes drilled from four sites intersected anomalous radioactivity between 65 to 148 metres vertical depth, in host geology similar to Lac Cinquante. Radioactive readings between 200 and a peak of 28,350 cps were measured over 0.3 to 2.8 metres width down hole.

Pulse Zone
Diamond drilling along 1.3 kilometres of the three kilometre long Pulse EM conductor encountered anomalous radioactivity in 14 of 27 holes drilled in 2012 to date. Pulse is located roughly 700 metres north and parallel to Lac Cinquante; and was confirmed to host uranium through RC and diamond drilling last year (see January 10, 2012 news release). Intermittent radioactivity at Pulse is hosted in narrow carbonate-quartz-hematite veins in steeply dipping sheared basalt or sulphidic tuff. Drilling was from nine sites with varying spacing along strike and to a maximum depth of 170 metres. Radioactivity ranged from 200 to a high of 10,000 cps with down hole intercepts up to 1.1 metres wide.

Flare Zone
The Flare Zone is characterized by a 1.5 kilometre long northwest trending EM conductor located 1.7 kilometres southwest of the Lac Cinquante Western Extension. Six holes drilled from three sites tested the target at 50 metre centres, along 100 metres of a strike length and down to 112 metres. Three holes encountered weak radioactivity ranging from 200 to 7510 cps in down hole widths up to 1.0 metre wide.

Ray Zone
The Ray Zone is a subtle EM conductor two kilometres along strike and southeast of Lac Cinquante’s Eastern Extension. Three holes from a single site have intersected anomalous radioactivity with values ranging from 200 to 6450 cps in down hole widths up to 1.0 metre wide. Mineralization at Ray occurs in a narrow sulphidic, graphitic tuff horizon, similar to the same unit hosting mineralization at Lac Cinquante.

All holes in target areas were drilled northeast with azimuths between 26 and 35 degrees at inclinations between -45 and -90 degrees. For maps and drill plan images, please visit:
www.kivalliqenergy.com/projects/angilak/program_image

QA/QC

Half-spilt core samples from holes drilled at the Angilak Property, with anomalous radioactivity levels between 200 and 28,350 CPS measured to date, have been sent to Saskatchewan Research Council Geoanalytical Laboratories (“SRC”) for analysis. The SRC facility operates in accordance with ISO/IEC 17025:2005 (CAN-P-4E), General Requirements for the Competence of Mineral Testing and Calibration laboratories and is accredited by the Standards Council of Canada. Kivalliq’s quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Chemical assay results from this drill program will be reported by Kivalliq upon receipt.

Natural gamma radiation in drill core was measured in counts per second (cps) using a hand-held Radiation Solutions Inc. RS-121 scintillometer or RS-230 spectrometer. Kivalliq cautions that scintillometer readings are not directly related to uranium grade and are only used to indicate zones of radioactive material.

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 to explore for uranium on Inuit Owned Lands in Nunavut.

Kivalliq’s 252,830 acre Angilak Property hosts the high-grade Lac Cinquante deposit, along with multiple highly-mineralized target areas. With an NI 43-101 Inferred Mineral Resource of 1,779,000 tonnes grading 0.69% U3O8, totalling 27.13 million pounds U3O8, (15.2 pounds 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.

On behalf of the Board of Directors

James R. Paterson, CEO

Kivalliq Energy Corporation

For further information about Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com.

Kivalliq Energy Corporation is a member of the Aurora Resource Group of companies. For more information please visit www.auroraresource.com.

Certain disclosures in this release, including management’s intentions with respect to the 2012 Angilak exploration program 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 market price of the Company’s securities and the market for securities of resource exploration companies in general; commodity prices and, in particular, the price of uranium, the completion of the Company’s plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Other than as required by applicable securities legislation, 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Kivalliq Energy Corporation James R. Paterson CEO 604.646.4527 or Toll Free:
1.888.331.2269 [email protected] www.kivalliqenergy.com

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (“Kivalliq”) today announced the commencement of drilling, as part of a two-phased, $20 million exploration program at the 252,830 acre Angilak Property in Nunavut Territory, Canada. The aggressive plans for 2012 will investigate multiple uranium targets discovered or advanced by the Company’s 2010 and 2011 prospecting and geophysical surveying programs, and build on the recently announced Lac Cinquante inferred resource of 27.13 million pounds U3O8.

Kivalliq intends to drill 26,000 metres of NQ core on advanced targets with three diamond drill rigs and 9,000 metres of reverse circulation (“RC”) drilling on exploration targets with a light weight RC fly rig. Extensive ground based geophysical surveying, prospecting and soil sampling campaigns are also planned.

“After nearly doubling the Lac Cinquante mineral resource in 2011, we are excited to return to Angilak to execute our 2012 exploration goals,” stated Jeff Ward, Kivalliq’s President. “Drilling is intended to expand Lac Cinquante along strike and to depth; test targets on parallel conductors; and demonstrate potential for multiple uranium deposits elsewhere on the Angilak Property.”

The first phase of 2012 exploration commenced with the mobilization of crews and equipment to the Nutaaq camp in mid-March, with one diamond drill rig now operating. Kivalliq is fully funded to drill from March to June with two diamond drill rigs and one RC rig starting in May, and to carry out ground geophysical surveys until break-up in June. The second phase of the proposed exploration program at Angilak will begin in July, pending results and market conditions, and will include a third diamond drill rig, continued RC drilling and geophysical, geological and geochemical surveys in the field.

The following summarizes both the first and second phase of the proposed 2012 exploration campaign:

26,000 metres of core drilling focused on expanding the Lac Cinquante resource and testing new zones discovered in the immediate vicinity of this deposit
9,000 metres of RC drilling to test multiple target areas property-wide and untested conductors within close proximity of the Lac Cinquante deposit
Ground geophysical surveys consisting of gravity, magnetics and electro-magnetics
Continued prospecting to advance high-priority target areas defined by the 2011 program and identify new targets on a property wide scale
Ongoing modeling, geological, metallurgical, environmental and archeological studies
Continued emphasis on community consultation
Engineering studies focused on expanding infrastructure to support future programs
Update to the current Lac Cinquante Inferred Resource by Q2 2013

Jeff Ward, P.Geo, President of Kivalliq and a Qualified Person for the Company, has reviewed and approved the information contained in this release. For disclosure related to the inferred resource for the Lac Cinquante uranium deposit, please refer to Kivalliq news release of January 17, 2012.

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 to explore for uranium on Inuit Owned Lands in Nunavut.

On behalf of the Board of Directors

"Jim Paterson"

James R. Paterson, CEO
Kivalliq Energy Corporation

For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com (m.kivalliqenergy.com) or contact Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or by email at [email protected] .

Kivalliq Energy Corporation is a member of the Aurora Resource Group of companies. For more information please visit www.auroraresource.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 use of proceeds, future exploration programs and the completion of financings, 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. Other than as required by applicable securities legislation, 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.

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (“Kivalliq”) today announced a two-phased, $20 million exploration program at the 227,000 acre Angilak Property in Nunavut Territory, Canada. The aggressive plans for 2012 will advance multiple uranium discoveries made in 2011 and build on the recently announced Lac Cinquante inferred resource of 27.13 million pounds U₃O₈.

Kivalliq intends to drill 26,000 metres of NQ core with three diamond drill rigs and 9,000 metres of reverse circulation (“RC”) drilling on exploration targets with a light weight RC fly rig. Extensive ground based geophysical surveying, prospecting and soil sampling campaigns are also planned.

“Our 2012 exploration goals are clear: continue to expand the Lac Cinquante mineral resource along strike and to depth; drill targets on parallel conductors; and demonstrate potential for multiple uranium deposits elsewhere on the Angilak Property,” stated Jim Paterson, Kivalliq’s CEO.

The first phase of 2012 exploration commences with the mobilization of crews and equipment to the Nutaaq camp in March. Kivalliq is fully funded to drill from March to June with two diamond drill rigs and one RC rig starting in May, and to carry out ground geophysical surveys until break-up in June. The second phase of the proposed exploration program at Angilak will begin in July, pending results and market conditions, and may include a third diamond drill rig, continued RC drilling and geophysical, geological, geochemical and engineering surveys in the field.

The following summarizes both the first and second phase of the proposed 2012 exploration campaign:

26,000 metres of core drilling focused on expanding the Lac Cinquante resource and testing new zones discovered in the immediate vicinity of this deposit
9,000 metres of RC drilling to test multiple target areas property-wide and untested conductors within close proximity of the Lac Cinquante deposit
Ground geophysical surveys consisting of gravity, magnetics and electro-magnetics
Continued prospecting to advance high-priority target areas defined by the 2011 program and identify new targets on a property wide scale
Ongoing modeling, geological, metallurgical, environmental and archeological studies;
Continued emphasis on community consultation
Engineering studies focused on expanding infrastructure to support future programs
Update to the current Lac Cinquante Inferred Resource by Q2 2013.

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 to explore for uranium on Inuit Owned Lands in Nunavut.

Kivalliq’s 227,000 acre Angilak Property hosts the high-grade Lac Cinquante deposit, along with multiple highly-mineralized target areas. With an NI 43-101 Inferred Mineral Resource of 1,779,000 tonnes grading 0.69% U₃O₈, totalling 27.13 million pounds U₃O₈, (15.2 pounds 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.

On behalf of the Board of Directors

"Jim Paterson"

James R. Paterson, CEO

Kivalliq Energy Corporation

Kivalliq Energy Corporation is a member of the Aurora Resource Group of companies, for more information please visit www.auroraresource.com.

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the “Company” or “Kivalliq”) today announced results from the 2011 summer prospecting program at the 225,000 acre Angilak Property in Nunavut, Canada. 273 prospecting samples were collected in priority areas across the property with highlights and a summary of results disclosed herein.

“The number of new, high-grade mineral showings identified by Kivalliq’s prospecting team in 2011 highlight the polymetallic nature of mineralization on the Angilak Property,” stated Kivalliq’s President, Jeff Ward, P. Geo. “The 2011 prospecting program has increased our confidence in the district scale potential of Angilak, and has provided us with excellent drill targets for 2012.”

2011 Prospecting Program Highlights

273 rock samples collected, with 10% (27 samples) exceeding 1% U3O8, along with multiple samples containing significantly anomalous silver (Ag), copper (Cu), and (Pb) lead values
“BIF” Zone – High-grade U-Cu-Mo-Ag veins sampled along a 3 km shear zone and geophysical trend
“AG” Showing – 21,600 g/t Ag (626.4 oz/ton) assay from a native silver occurrence discovered in subcrop
“Taluaq” – New claims staked to secure a prominent 2 km by 10 km ovoid magnetic feature with initial samples showing polymetallic potential
VGR mineralized geophysical trend was extended to 4 km in strike length

Highlights from Assays

20.00% U3O8, 107.0 g/t Ag, 12.70% Cu, 5.02% Pb – (Sample 1828) Force
23.80% U3O8, 114.0 g/t Ag, 0.81% Cu, 5.90% Pb, 0.58% Mo – (Sample 1839) BIF Zone
16.00% U3O8, 321.0 g/t Ag, 5.38% Pb, 0.76% Mo – (Sample 1860) BIF Zone
30.30% U3O8, 163.0 g/t Ag, 5.16% Cu, 22.90% Pb – (Sample 1983) BIF Zone
21,600 g/t Ag; 301.0 g/t Ag, 1.16% Cu – (Samples 1801 and 1802) AG Showing

For maps of priority areas from Kivalliq’s prospecting programs and a table of key results, please visit http://kivalliqenergy.com/projects/angilak/

2011 Prospecting Program

A prospecting crew was active for 3 months between June and September, mapping and collecting grab samples from outcrop, subcrop and glacial float across the Angilak property. This work was able to advance existing high priority areas and identify several new mineralized zones on the property. Of the 273 grab samples collected, 163 are considered to represent in-situ bedrock sources, with the remaining 110 samples taken from cobbles and boulders found in glacial till. In addition, 10% (27 samples) returned assays in excess of 1% U3O8, with many having significant silver, copper, molybdenum, lead and zinc values.

BIF Zone

High-grade U-Cu-Mo-Ag assays in samples from multiple veins (1 to 3 cm wide) and boulders were identified at the new “BIF” zone, located approximately 10 km from Lac Cinquante. Results include 13 of 25 grab samples exceeding 1% U3O8 and 5 samples with over 15% U3O8 taken along the strike length of a geophysical anomaly and related mineralized structure. The BIF uranium occurrence is associated with a 3 km long reactivated shear zone on the margin of the Yathkyed Greenstone Belt, and within a package of mylonitized iron formation and tuffaceous volcano-sedimentary rock. A ground VLF and magnetic survey carried out in the area of highly anomalous samples will be the focus of future work and drilling in 2012. A map of the BIF zone is available at http://kivalliqenergy.com/projects/angilak/
Highlight samples from the BIF Zone:

30.30% U3O8, 163.0 g/t Ag, 5.16% Cu, Cu, 22.90% Pb – (Sample 1983) outcrop
23.80% U3O8, 114.0 g/t Ag, 0.81% Cu, 5.90% Pb, 0.58% Mo – (Sample 1839) outcrop
17.90% U3O8, 38.3 g/t Ag, 0.15% Cu, 6.00% Pb, 0.45% Mo – (Sample 1833) outcrop
16.60% U3O8, 51.3 g/t Ag, 0.05% Cu, 3.67% Pb, 0.95% Mo – (Sample 1836) float
16.00% U3O8, 321.0 g/t Ag, 5.38% Pb, 0.76% Mo – (Sample 1860) outcrop

AG Showing

Of note is a new native silver occurrence discovered approximately 7.5 km east of the Lac Cinquante uranium deposit. Carbonate and quartz veins in a sheared tuff unit contain significant Ag values ranging from 10 to 301 g/t in 14 of 21 grab samples, with 21,600 g/t in one grab. The veins appear to be barren of uranium, but can contain significant concentrations of Cu, Pb, and Zn. Mineralization and veins are exposed over 65 m strike length, with a width of approximately one metre. To date, only one discontinuous high-grade Ag vein has been identified, but it is situated at the end of a 1 km long VLF-EM conductor which could host additional Ag and polymetallic veins. A single 80 m long inclined drill hole (11-AG-001) tested the western end of the VLF-EM conductor with no significant results.

Force

The Force area, located in the central part of the Angilak property, straddles a major northeast trending fault zone which cuts through Archean basement gneisses and Proterozoic ultrapotassic intrusions. Prospecting in 2010 and 2011 has identified U-Cu-Pb-Ag veins in outcrop and subcrop at two main zones 200 m apart along this fault zone. Three additional grab samples collected in 2011 confirm high grades identified in 2010, with the best assaying 20.00% U3O8, 12.70% Cu and 107.0 g/t Ag. Due to difficult ground conditions, only two of four RC test holes were completed to depth. No significant radioactivity was intersected in either hole, however favourable geophysics, geology, high grade boulders and significant Quaternary cover suggest further work is warranted.

Taluaq

In late summer, prospectors investigated a prominent 2 km by 10 km magnetic geophysical feature just north of the Angilak property boundary. Ten claims were staked over this ovoid signature which could represent a large, high-level subvolcanic intrusion with associated mineralization. Follow-up work resulted in the discovery of disseminated and stockwork base metal mineralization in syenitic boulders and outcrop, now named the “Taluaq” zone. Assay results from 4 grab samples have elevated concentrations of Cu (0.06%-0.69%), Pb (0.14%- 4.95%), Zn (0.04%-3.3%), and Ag (1.2-110 g/t). Although no uranium was encountered, only a fraction of the magnetic anomaly has been investigated and future work will focus on assessing the uranium and REE potential, as well as polymetallic mineralization in the syenitic intrusion.

VGR

Several significant showings discovered along the VGR trend in 2010 were revisited in 2011, including the highly prospective VGR fault system itself. The VGR trend hosts a 3 to 7 m wide, steeply‐dipping carbonate/hematite veins and fractures containing uranium and sulphide mineralization in trachyandesite. Prospecting to the southwest along strike of the main VGR showing identified additional areas of alteration and uranium mineralization with values up to 3.75% U3O8, extending the known mineralized trend to 4 km strike length. Four RC test holes on the main VGR showing returned promising results, with elevated radioactivity (5000 to15000 cps on a Mt. Sopris downhole radiometric probe) in the upper 65 m of one hole. The area remains very prospective for unconformity-style uranium mineralization and is a high priority drill target for 2012.

QA/QC

Samples collected as part of the 2011 prospecting program were comprised of grab samples generally less than 2.5 kilograms in size. All samples were analyzed for U3O8 and a multi-element suite by Saskatchewan Research Council (SRC) Geoanalytical Laboratories. The SRC facility operates in accordance with ISO/IEC 17025:2005 (CAN-P-4E), General Requirements for the Competence of Mineral Testing and Calibration laboratories and is accredited by the Standards Council of Canada. The samples are first analyzed by SRC’s ICP-OES multi-element Uranium exploration ICP1 method. ICP results U>1000 parts per million (ppm) are analyzed using SRC’s ISO/IEC 17025:2005-accredited U3O8 Assay method. Other metals analyzed by ICP were reported in ppm and subsequently converted to % or grams/tonne. Other metals will be verified by additional assays. Laboratory quality control (QC) includes a repeat analysis on every 20th sample. Repeat samples had good reproducibility.

Disclosure of a technical nature contained in this release has been reviewed and approved by Kivalliq’s President, Jeff Ward, P.Geo. Mr. Ward is the Qualified Person for the purposes of National Instrument 43-101.

About Kivalliq Energy Corporation

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

With a NI 43-101 Inferred Resource of 14.15 million pounds at 0.79% U3O8, 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 multiple, highly mineralized target areas.

Since acquiring the Angilak Property in 2008, the Company has invested approximately $30 million conducting systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and 48,000 meters of drilling.

Kivalliq’s team of northern exploration specialists has forged strong relationships with sophisticated resource sector investors and project partner Nunavut Tunngavik Inc. ("NTI") to advance the Angilak Property. The Company is focused on building shareholder value while adhering to a high level of environmental and safety standards and proactive local community engagement.

On behalf of the Board of Directors

“Jim 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 [email protected].

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the "Company" or "Kivalliq") today provided assay results from 1,732 metres of diamond drilling in 14 holes conducted in 2011 at the Blaze/Spark, Pulse and Joule Zones. These zones, discovered through drilling in 2010 and 2011, are all located within a 3.0 kilometre radius of the high grade Lac Cinquante uranium deposit, within the 225,000 acre Angilak Property in Nunavut, Canada. All assays have now been reported for core drilled in 2011.

Exploration Drilling Highlights*:

0.62% U3O8, 1.6 g/t Ag, 0.01% Cu, over 0.7 metres in 11-523-001 (Pulse)
0.44% U3O8, 12.8 g/t Ag, 0.59% Cu, over 2.3 metres in 11-523-002 (Pulse)
0.21% U3O8, 7.5 g/t Ag, 0.03% Cu, over 3.4 metres in 11-523-002 (Pulse)
0.43% U3O8, 16.3 g/t Ag, 0.27% Cu, over 7.6 meters in 11-BZ-020 (Blaze)
0.90% U3O8, 17.0 g/t Ag, 0.25% Cu, over 2.1 meters in 11-BZ-021 (Blaze)
0.49% U3O8, 12.3 g/t Ag, 0.03% Cu, over 1.5 meters in 11-BZ3-001 (Spark)

*Down hole intercepts

“These results demonstrate our success at identifying a growing number of mineralized targets near the resource area,” stated President Jeff Ward. “The encouraging values from exploration drilling have verified our targeting techniques on previously untested conductive trends parallel to Lac Cinquante main zone.”

Pulse
Two diamond drill holes tested the Pulse zone, part of a 3.0 kilometre long VLF EM conductive trend situated 650 metres northeast and parallel to the Lac Cinquante uranium deposit. The holes were drilled to follow up on a mineralized zone identified by anomalous radioactivity in 9 out of 10 reverse circulation (“RC”) test holes along 600 metres of strike length. Preliminary interpretations suggest that mineralization occurs within structurally controlled sheared basalt similar to that found at the Lac Cinquante Western Extension and as pitchblende bearing brecciated quartz carbonate veins. Due to its close proximity to Lac Cinquante and the geological similarities noted, Pulse represents a high priority drill target for the upcoming 2012 exploration campaign.

Blaze
Four holes at Blaze were drilled to test the down dip continuity of the mineralized cross cutting quartz carbonate vein intersected by DDH 11-BZ-010 (announced June 20, 2011) and to investigate the structural controls for mineralization at Blaze. Results suggest the 11-BZ-010 vein has an estimated true width of 1.5 metres to 3.8 metres to a vertical depth of at least 85 metres and that other similarly oriented crosscutting mineralized veins are present.

Spark
A single diamond drill hole tested the Spark zone, a northwest trending linear VLF EM conductor located approximately 500 metres west of Blaze. Mineralization is hosted in altered basalt on the upper contact of a narrow laminated tuff unit. 11-BZ3-001 was drilled to follow up on anomalous radioactivity indicated by 4 out of 8 RC test holes targeting the center of the BZ3 anomaly.

Joule (JML anomaly)
Four holes confirmed U3O8 values along 25 metres of strike length at the JML anomaly, an east-west trending VLF-EM conductor in the Joule Valley, located 7.0 kilometres southeast of Lac Cinquante. The holes tested anomalous radioactivity identified by 8 RC test holes along 250 metres of strike length.

Also in the Joule area, two core holes tested the J9 anomaly 4.5 kilometres southeast of Lac Cinquante. Drill hole 11-J9-001 intersected a narrow quartz carbonate vein in basalt with anomalous U3O8 values.

For a summary of the 2011 exploration program at Angilak, please see the news release from October 18, 2011. To view updated drill plan maps and tables please visit: http://kivalliqenergy.com/projects/angilak/program_images/

2011 Exploration Diamond Drill Hole Weighted Assay Results*
DDH	From (m)	To (m)	Interval (m)	U3O8 (%)	Cu (%)	Ag (g/t)	Mo (%)	Prospect
11-BZ-020	45.5	53.1	7.6	0.43	0.27	16.3	0.07	Blaze
	61.2	61.8	0.6	0.17	0.03	1.4	0.00	Blaze
	91.7	95.0	3.3	0.08	0.01	1.4	0.01	Blaze
	140.8	141.2	0.4	0.21	0.02	1.8	0.00	Blaze
11-BZ-021	34.1	36.1	2.1	0.90	0.25	17.0	0.06	Blaze
	68.4	75.6	7.2	0.15	0.22	7.0	0.05	Blaze
11-BZ-022	18.1	18.5	0.4	2.75	0.24	24.7	0.08	Blaze
	21.4	22.6	1.2	0.09	1.69	16.9	0.09	Blaze
	72.6	73.2	0.6	0.30	0.44	30.4	0.19	Blaze
	79.6	86.7	7.1	0.14	0.10	19.0	0.09	Blaze
11-BZ-023	31.3	34.6	3.4	0.15	0.64	8.4	0.05	Blaze
	86.1	86.5	0.4	0.13	0.01	1.1	0.09	Blaze
11-523-001	53.5	53.8	0.4	0.12	0.01	0.4	0.01	Pulse
	66.3	67.0	0.7	0.62	0.01	1.6	0.04	Pulse
11-523-002	68.0	70.3	2.3	0.44	0.59	12.8	0.02	Pulse
	86.7	90.1	3.4	0.21	0.03	7.5	0.06	Pulse
11-BZ3-001	54.1	55.6	1.5	0.49	0.03	12.3	0.07	Spark
11-J9-001	30.3	31.1	0.8	0.23	0.04	1.5	0.00	J9
11-JML-001	22.1	25.8	3.7	0.05	0.00	0.1	0.00	JML
11-JML-002	39.2	40.3	1.1	0.13	0.05	3.5	0.00	JML
11-JML-003	51.5	53.0	1.5	0.11	0.05	0.5	0.00	JML
11-JML-004	50.3	50.6	0.3	0.11	0.03	17.0	0.00	JML

*All samples subject to ICP 1 Analysis by SRC in Saskatoon, SK. ICP1 results >1000 ppm U are subject to SRC U3O8 Assay; ICP1 results for Cu, Mo and Ag are reported by SRC in parts per million (ppm). 1 ppm = 1gm/t, 10000 ppm = 1%; Intervals include ICP U analysis in ppm converted to U3O8%. Conversion to U3O8% = ppm x 0.01179%. Intervals reported are down-hole and true widths are not known at this time. Two exploratory diamond drill holes 11-J9-002 and 11-AG-001 did not intersect mineralization.

QA/QC

Samples from the 2011 drilling program comprised half split NQ drill core, assayed in 0.25 to 1.5 metre intervals and weighted for results in table. All samples were analyzed for U3O8 and a multi-element suite by Saskatchewan Research Council (SRC) Geoanalytical Laboratories. The SRC facility operates in accordance with ISO/IEC 17025:2005 (CAN-P-4E), General Requirements for the Competence of Mineral Testing and Calibration laboratories and is accredited by the Standards Council of Canada. The samples are first analyzed by SRC's ICP-OES multi-element Uranium exploration ICP1 method. The method analyzes for multi-elements including Ag, Mo, Cu, Pb, Zn and a suite of rare earth elements. ICP results U>1000 parts per million (ppm) are analyzed using SRC's ISO/IEC 17025:2005-accredited U3O8 Assay method. Laboratory quality control (QC) includes a repeat analysis on every 20th sample. Repeat samples had good reproducibility. Kivalliq's QC included the insertion of blanks and standards into the sample inventory at the project site prior to shipment in sealed containers. All QC results were within expectations.

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 $30 million conducting systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and approximately 48,000 meters of RC and diamond drilling.

On behalf of the Board of Directors

“Jim Paterson”

James Paterson, CEO
Kivalliq Energy Corporation

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to 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. Other than as required by applicable securities legislation, 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.

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the "Company" or "Kivalliq") today provided assay results from diamond drilling at the Eastern Extension, located 400 metres along strike and east of the high grade Lac Cinquante uranium deposit, located within the 225,000 acre Angilak Property in Nunavut, Canada. Assay results disclosed in this release are from the final 20 of 44 core holes drilled in total at the Eastern Extension.

Highlights disclosed herein include:

6.01% U3O8, 8.2 g/t Ag, 0.22% Cu, 0.14% Mo over 0.3 metres in 11-LC-099
2.69% U3O8, 34.8 g/t Ag, 2.04% Cu, 0.27% Mo over 0.6 metres in 11-LC-102
1.39% U3O8, 10.8 g/t Ag, 0.03% Cu, 0.18% Mo over 0.9 metres in 11-LC-078
All 44 holes drilled at Eastern Extension have now been reported
Eastern Extension results to be incorporated in updated resource estimate for Lac Cinquante; expected Q1, 2012
(Estimated true widths – see assay results table below)

“Including the Eastern Extension could add considerable value as we move towards revising the resource estimate for Lac Cinquante by the end of Q1, 2012,” stated President Jeff Ward.

Eastern Extension

The discovery of the Eastern Extension was initially made by testing a northwest trending linear VLF EM conductor similar to Lac Cinquante, using six reverse circulation (RC) holes drilled from three set-ups. Two diamond drills were then deployed to delineate the Eastern Extension, with 6,143 metres in 44 holes drilled from 13 set-ups spaced on 50 metre drill sections.

The results reported herein comprise the second set of assay results from 20 core holes drilled at the Eastern Extension. The Eastern Extension has a drilled strike length of 550 metres and starts approximately 400 metres to the east, and along strike, of the Lac Cinquante main zone resource area.

All holes were drilled to the northeast with azimuths bearing 26 degrees, at inclinations between minus 45 and 90 degrees. 37 of 44 holes intersected uranium mineralization between 34 and 257 metres vertical depth. Both RC and diamond drilling have confirmed the continuation of the Lac Cinquante structure eastward with uranium mineralization occurring in a zone dipping roughly 72 degrees to the southwest. All assays from the Eastern Extension have now been released.

Mineralization is very similar to that found at Lac Cinquante, primarily hosted in the same hematite-carbonate-chlorite-graphite altered tuff unit. Uranium is associated with quartz-carbonate veining, breccia and sulphides within the sheared host rock.

For a summary of the 2011 exploration program at Angilak, please see news release from October 18, 2011. To view related cross sections and drill plan maps, please visit http://kivalliqenergy.com/projects/angilak/program_images/

Eastern Extension Assay Results

2011 Lac Cinquante Eastern Extension Drilling Program – Weighted Assay Results*
Hole	From (m)	To (m)	Interval (m)	Est. True Width (m)	U3O8 (%)	Cu (%)	Mo (%)	Ag (g/t)	Description
11-LC-075	78.6	80.3	1.7	1.5	0.04	0.07	0.04	3.3	Main Zone
11-LC-076	119.0	119.4	0.4	0.2	1.87	0.07	0.46	28.8	Main Zone
11-LC-077	208.0	208.3	0.3	0.1	0.05	0.04	0.01	1.7	Main Zone
11-LC-078	70.6	71.7	1.0	0.9	1.39	0.03	0.18	10.8	Main Zone
11-LC-079	75.0	75.6	0.6	N/A	1.29	0.02	0.05	15.7	Qtz Carb Vein
11-LC-079	96.3	97.5	1.2	N/A	0.59	0.03	0.08	4.4	Qtz Carb Vein
11-LC-079	100.2	100.9	0.7	0.5	0.21	0.01	0.02	1.6	Main Zone
11-LC-099	114.6	115.0	0.4	0.3	6.01	0.22	0.14	8.2	Main Zone
11-LC-101	66.2	67.1	0.9	0.9	0.01	0.25	0.00	5.0	Main Zone
11-LC-102	91.9	92.7	0.9	0.6	2.69	2.04	0.27	34.8	Main Zone
11-LC-102	99.5	100.3	0.9	N/A	1.47	0.04	0.14	1.7	Qtz Carb Vein
11-LC-103	96.8	98.3	1.5	N/A	1.33	0.36	0.18	104.4	Qtz Carb Vein
11-LC-103	130.9	131.4	0.5	0.3	0.04	0.28	0.06	9.6	Main Zone
11-LC-104	63.3	64.0	0.7	0.6	0.29	0.18	0.14	30.6	Main Zone
11-LC-105	90.8	91.8	1.0	N/A	1.16	0.02	0.12	5.7	Qtz Carb Vein
11-LC-105	105.0	105.3	0.3	0.2	0.89	0.38	0.17	22.3	Main Zone
11-LC-106	142.9	144.5	1.6	0.7	0.18	0.01	0.07	6.5	Main Zone
11-LC-107	70.8	71.1	0.3	0.3	0.06	0.02	0.04	4.0	Main Zone
11-LC-110	121.0	122.8	1.8	1.1	0.10	0.09	0.02	6.0	Main Zone
11-LC-111	75.5	76.1	0.6	0.5	0.00	0.18	0.00	2.0	Main Zone
11-LC-112	12.3	13.5	1.2	N/A	0.17	0.21	0.11	19.8	Qtz Carb Vein
11-LC-113	26.3	28.1	1.8	N/A	0.25	0.03	0.17	0.9	Qtz Carb Vein

Holes 11-LC-0100, 108 and 114 did not intersect mineralization.

*All samples subject to ICP 1 Analysis by SRC in Saskatoon, SK. ICP1 results >1000 ppm U are subject to SRC U3O8 Assay; ICP1 results for Cu, Mo and Ag are reported by SRC in parts per million (ppm). 1 ppm = 1gm/t, 10000 ppm = 1%; Intervals include ICP U analysis in ppm converted to U3O8%. Conversion to U3O8% = ppm x 0.01179%. Estimate for true width of mineralization is based on the angle of surveyed drill hole and the apparent orientation of the zone at the intercept.

QA/QC

Samples from the 2011 drilling program comprised half split NQ drill core. All samples were analyzed for U3O8 and a multi-element suite by Saskatchewan Research Council (SRC) Geoanalytical Laboratories. The SRC facility operates in accordance with ISO/IEC 17025:2005 (CAN-P-4E), General Requirements for the Competence of Mineral Testing and Calibration laboratories and is accredited by the Standards Council of Canada. The samples are first analyzed by SRC’s ICP-OES multi-element Uranium exploration ICP1 method. The method analyzes for multi-elements including Ag, Mo, Cu, Pb, Zn and a suite of rare earth elements. ICP results U>1000 parts per million (ppm) are analyzed using SRC’s ISO/IEC 17025:2005-accredited U3O8 Assay method. Laboratory quality control (QC) includes a repeat analysis on every 20th sample. Repeat samples had good reproducibility. Kivalliq’s QC included the insertion of blanks and standards into the sample inventory at the project site prior to shipment in sealed containers. All QC results were within expectations.

About Kivalliq Energy Corporation

With an NI 43-101 compliant Inferred Mineral Resource of 810,000 tonnes grading 0.79% U3O8, totalling 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 $30 million conducting systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and approximately 48,000 metres of RC and diamond drilling.

On behalf of the Board of Directors

“Jim Paterson”

James Paterson, CEO
Kivalliq Energy Corporation

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

Certain disclosures in this release, including management’s assessment of plans and projects and intentions with respect to 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. Other than as required by applicable securities legislation, 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.

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the "Company" or "Kivalliq") today provided assay results from diamond drilling at the Western Extension, located 450 metres along strike and west of the high grade Lac Cinquante uranium deposit. Six of seven holes reported high-grade uranium mineralization at vertical depths ranging from 193 to 327 metres.

Highlights disclosed herein include:

2.02% U3O8, 19.7 g/t Ag, 1.42% Cu, over 0.8 meters in 11-LC-109
1.21% U3O8, 190.4 g/t Ag, 0.87% Cu, over 0.8 metres in 11-LC-120
0.98% U3O8, 14.3 g/t Ag, 0.29% Cu, over 1.1 meters in 11-LC-115
0.83% U3O8, 37.3 g/t Ag, 0.44% Cu, over 1.5 meters in 11-LC-119
Western Extension zone strike length is 550 metres
All assays now reported from drill holes at Western Extension
(Estimated true widths – see assay results table below)

“The high grade values from these intervals, including the deepest intersected on the property to date, clearly demonstrate the growth potential at depth,” stated President Jeff Ward, P.Geo. “The assays will be incorporated into future resource estimates.”

Western Extension

This third, and final, set of results is comprised of 7 core holes drilled at the Western Extension. The Western Extension has a drilled strike length of 550 metres and starts 450 metres to the west, and along strike, of the Lac Cinquante main zone resource area.

9,468 metres in 54 diamond drill holes tested a northwest trending VLF EM conductor which exhibited a response similar to that of the Lac Cinquante deposit. Drilling from 17 set-ups spaced on 50 metre drill sections intersected radioactive intervals down to depths of 250 metres vertically. Two additional set-ups, spaced 100 metres apart, targeted below the original fences and intersected mineralization down to 327 metres. Final assays from these two drill hole set-ups are disclosed in this news release.

Mineralization is similar to that found at Lac Cinquante, but is structurally hosted in altered basalt rather than a tuffaceous unit. Radioactive intervals are associated with sheared, chlorite-carbonate altered basalt with minor brecciation and sulphides. Hematized quartz-carbonate veining is common in this zone.

For a summary of the 2011 exploration program at Angilak, please see the news release from October 18, 2011. To view related cross sections and drill plan maps, please visit http://kivalliqenergy.com/projects/angilak/program_images/

Western Extension Assay Results

2011 Lac Cinquante Western Extension Drilling Program – Assay Results
Hole	From (m)	To (m)	Interval (m)	Est. True Width (m)	U3O8 (%)	Cu (%)	Mo (%)	Ag (g/t)	Description
11-LC-109	116.2	116.7	0.5	N/A	0.47	0.38	0.03	40.2	Qtz Carb Vein
11-LC-109	280.0	281.0	1.0	0.8	2.02	1.42	0.01	19.7	Main Zone
11-LC-115	228.0	229.3	1.3	N/A	0.61	0.05	0.09	37.7	Qtz Carb Vein
11-LC-115	245.7	247.3	1.6	1.4	0.36	1.09	0.13	45.7	Main Zone
11-LC-115	256.2	256.6	0.4	N/A	0.60	0.05	0.10	16.8	Qtz Carb Vein
11-LC-116	297.0	298.5	1.6	1.1	0.98	0.29	0.03	14.3	Main Zone
11-LC-117	314.9	315.5	0.6	0.4	0.36	0.02	0.01	1.2	Main Zone
11-LC-117	374.3	374.9	0.6	N/A	0.65	0.07	0.05	7.0	Qtz Carb Vein
11-LC-118	359.1	359.6	0.6	N/A	0.40	0.03	0.16	7.2	Qtz Carb Vein
11-LC-119	303.6	305.5	1.9	1.5	0.83	0.44	0.11	37.7	Main Zone
11-LC-120	340.8	344.2	3.4	2.3	0.45	0.35	0.26	69.9	Main Zone
includes	341.1	342.3	1.2	0.8	1.21	0.87	0.71	190.4	Main Zone

*All samples subject to ICP 1 Analysis by SRC in Saskatoon, SK. ICP1 results >1000 ppm U are subject to SRC U3O8 Assay; ICP1 results for Cu, Mo and Ag are reported by SRC in parts per million (ppm). 1 ppm = 1gm/t, 10000 ppm = 1%; Intervals include ICP U analysis in ppm converted to U3O8%. Conversion to U3O8% = ppm x 0.01179%. Estimate for true width of mineralization is based on the angle of surveyed drill hole and the apparent orientation of the zone at the intercept.

QA/QC

About Kivalliq Energy Corporation

On behalf of the Board of Directors

“Jim Paterson”

James Paterson, CEO
Kivalliq Energy Corporation

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

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the "Company" or "Kivalliq") today provided assay results from diamond drilling at the Eastern Extension, located 400 metres along strike and east of the high grade Lac Cinquante uranium deposit, located within the 225,000 acre Angilak Property in Nunavut, Canada. Assay results disclosed in this release are from the first 24 of 44 holes drilled in total at the Eastern Extension.

Highlights include:

2.65% U₃O₈, 134.63 g/t Ag, 0.06% Cu,1.67% Mo over 0.5 metres in 11-LC-094
2.33% U₃O₈, 61.40 g/t Ag, 0.16% Cu, 0.57% Mo over 0.4 metres in 11-LC-092
1.84% U₃O₈, 16.63 g/t Ag, 0.55% Cu, 0.07% Mo over 1.0 metres in 11-LC-096
1.00% U₃O₈, 27.75 g/t Ag, 0.09% Cu, 0.39% Mo over 1.0 metres in 11-LC-093
0.75% U₃O₈, 31.23 g/t Ag, 0.07% Cu, 0.46% Mo over 1.4 metres in 11-LC-084
Eastern Extension strike length is 550 metres; future drilling will test along strike and to depth
Assays pending from an additional 20 drill holes at Eastern Extension
(Estimated true widths – see assay results table below)

"The discovery of the Eastern Extension was the direct result of our RC drilling strategy,” stated President Jeff Ward. "These assays underpin the growing importance of the Lac Cinquante trend, and like the Western Extension, will go towards revising the resource estimate for Lac Cinquante by the end of Q1, 2012.”

Eastern Extension

The results reported herein comprise the first set of assay results from 24 holes drilled at the Eastern Extension. The Eastern Extension has a drilled strike length of 550 metres and starts approximately 400 metres to the east, and along strike, of the Lac Cinquante main zone resource area.

All holes were drilled to the northeast with azimuths bearing 26 degrees, at inclinations between minus 45 and 90 degrees. 39 of 44 holes intersected anomalous radioactivity between 34 and 257 metres vertical depth. Both RC and diamond drilling have confirmed the continuation of the Lac Cinquante structure eastward with uranium mineralization occurring in a zone dipping roughly 72 degrees to the southwest. Additional assays from the Eastern Extension will be released upon receipt and review.

For a summary of the 2011 exploration program at Angilak, please see news release from October 18, 2011. To view related cross sections and drill plan maps, please visit:
http://kivalliqenergy.com/projects/angilak/program_images/

Eastern Extension Assay Results

2011 Lac Cinquante Eastern Extension Drilling Program – Weighted Assay Results*
Hole	From	To	Interval (m)	Est. True Width (m)	U₃O₈	% Cu	% Mo	Ag (g/t)	Note
11-LC-066	87.6	94.8	7.2	N/A	0.46	0.09	0.05	11.9	Qtz Carb Vein
includes	91.9	94.0	2.1	N/A	1.49	0.15	0.05	25.6	Qtz Carb Vein
11-LC-067	65.7	67.2	1.5	1.2	0.57	3.08	0.18	55.2	Main Zone
11-LC-068	85.1	87.6	2.5	1.6	0.37	0.92	0.07	11.8	Main Zone
11-LC-068	80.3	80.6	0.3	N/A	0.43	0.04	0.11	6.2	Qtz Carb Vein
11-LC-069	130.0	130.4	0.4	0.2	0.22	0.03	0.07	10.4	Main Zone
11-LC-069	114.7	115.3	0.6	N/A	0.13	0.03	0.04	3.2	Qtz Carb Vein
11-LC-070	183.7	186.3	2.6	0.5	0.02	0.02	0.01	0.1	Main Zone
11-LC-071	69.7	73.0	3.3	2.7	0.03	0.88	0.02	40.2	Main Zone
11-LC-072	114.3	117.4	3.1	1.9	0.34	0.18	0.26	28.0	Main Zone
includes	114.6	115.2	0.6	0.4	1.62	0.49	0.63	69.3	Main Zone
11-LC-073	138.9	139.2	0.4	0.2	0.07	0.08	0.03	3.3	Main Zone
11-LC-074	82.9	84.2	1.3	1.3	0.28	0.71	0.32	59.0	Main Zone
11-LC-084	49.0	50.7	1.7	1.4	0.75	0.07	0.46	31.2	Main Zone
11-LC-085	79.5	79.9	0.4	0.2	0.29	0.02	0.17	10.3	Main Zone
11-LC-086	143.0	143.6	0.6	0.1	0.24	0.06	0.23	12.2	Main Zone
11-LC-087	60.2	61.4	1.2	1.0	0.01	0.06	0.01	4.1	Main Zone
11-LC-088	40.7	41.1	0.3	N/A	0.34	0.03	0.02	1.4	Qtz Carb Vein
11-LC-088	97.7	98.7	1.0	0.6	0.41	0.02	0.13	6.5	Main Zone
11-LC-089	136.6	138.5	1.9	0.7	0.76	0.18	0.59	47.4	Main Zone
11-LC-090	256.1	258.6	2.5	0.4	0.60	0.12	0.47	24.6	Main Zone
11-LC-091	70.6	71.0	0.4	0.4	0.74	0.21	0.10	11.8	Main Zone
11-LC-091	98.6	99.7	1.1	N/A	0.09	0.02	0.04	5.8	Qtz Carb Vein
11-LC-092	98.5	99.1	0.6	0.4	2.33	0.16	0.57	61.4	Main Zone
11-LC-093	127.2	129.1	1.9	1.0	1.00	0.09	0.39	27.8	Main Zone
11-LC-094	190.6	192.4	1.8	0.5	2.65	0.06	1.67	134.6	Main Zone
11-LC-095	61.9	62.3	0.4	0.3	0.34	0.04	0.02	3.4	Main Zone
11-LC-096	88.8	90.5	1.7	1.0	1.84	0.55	0.07	16.6	Main Zone
11-LC-097	106.6	107.5	0.9	N/A	1.26	0.18	0.09	7.2	Qtz Carb Vein
11-LC-097	110.5	114.0	3.5	N/A	0.59	0.04	0.03	2.0	Qtz Carb Vein
11-LC-097	133.3	134.0	0.6	0.3	0.47	0.46	0.52	47.6	Main Zone
11-LC-098	147.4	147.7	0.3	N/A	0.53	0.02	0.01	1.4	Qtz Carb Vein
11-LC-098	154.4	155.4	1.0	0.5	0.62	0.45	0.09	12.3	Main Zone

*All samples subject to ICP 1 Analysis by SRC in Saskatoon, SK. ICP1 results >1000 ppm U are subject to SRC U₃O₈ Assay; ICP1 results for Cu, Mo and Ag are reported by SRC in parts per million (ppm). 1 ppm = 1gm/t, 10000 ppm = 1%; Intervals include ICP U analysis in ppm converted to U₃O₈%. Conversion to U₃O₈% = ppm x 0.01179%. Estimate for true width of mineralization is based on the angle of surveyed drill hole and the apparent orientation of the zone at the intercept.

QA/QC

Samples from the 2011 drilling program comprised half split NQ drill core. All samples were analyzed for U₃O₈ and a multi-element suite by Saskatchewan Research Council (SRC) Geoanalytical Laboratories. The SRC facility operates in accordance with ISO/IEC 17025:2005 (CAN-P-4E), General Requirements for the Competence of Mineral Testing and Calibration laboratories and is accredited by the Standards Council of Canada. The samples are first analyzed by SRC’s ICP-OES multi-element Uranium exploration ICP1 method. The method analyzes for multi-elements including Ag, Mo, Cu, Pb, Zn and a suite of rare earth elements. ICP results U>1000 parts per million (ppm) are analyzed using SRC’s ISO/IEC 17025:2005-accredited U₃O₈ Assay method. Laboratory quality control (QC) includes a repeat analysis on every 20th sample. Repeat samples had good reproducibility. Kivalliq’s QC included the insertion of blanks and standards into the sample inventory at the project site prior to shipment in sealed containers. All QC results were within expectations.

About Kivalliq Energy Corporation

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 $30 million conducting systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and approximately 48,000 meters of RC and diamond drilling.

On behalf of the Board of Directors

"Jim Paterson”

James Paterson, CEO
Kivalliq Energy Corporation

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

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the "Company" or "Kivalliq") today provided assay results from diamond drilling at the Western Extension, located 450 metres along strike and west of the high grade Lac Cinquante uranium deposit. Assay results disclosed in this release are from 30 of the 54 holes drilled in total at the Western Extension, located within the 225,000 acre Angilak Property in Nunavut, Canada.

Highlights disclosed herein include:

2.02% U3O8, 26.9 g/t Ag, 0.65% Cu, over 2.0 metres in 11-LC-060
1.89% U3O8, 19.5 g/t Ag, 0.35% Cu, over 1.7 metres in 11-LC-057
1.87% U3O8, 39.9 g/t Ag, 0.80% Cu, over 1.2 metres in 11-LC-043
1.53% U3O8, 70.3 g/t Ag, 1.62% Cu, 0.17% Mo over 1.2 metres in 11-LC-083
1.10% U3O8, 72.0 g/t Ag, 1.22% Cu, 0.30% Mo over 1.2 metres in 11-LC-054
Western Extension strike length is 550 metres; future drilling will test along strike and to depth
Assays pending from an additional 7 deep drill holes at Western Extension
(Estimated true widths – see assay results table below)

"High grade uranium and polymetallic assay results from the Western Extension continue to add significant value to the Lac Cinquante trend," stated Kivalliq President Jeff Ward. "It is exciting to have moved the Western Extension from initial discovery to resource drilling in such a short time frame.”

Western Extension

This second set of results is comprised of 30 holes drilled at the Western Extension, with a total of 47 holes reported to date from this zone. The Western Extension has a drilled strike length of 550 metres and starts 450 metres to the west, and along strike, of the Lac Cinquante main zone resource area.

9,468 metres in 54 diamond drill holes tested a northwest trending VLF EM conductor which exhibited a response similar to that of the Lac Cinquante deposit. Drilling from 17 set-ups spaced on 50 metre drill sections intersected radioactive intervals down to depths of 250 metres vertically. Two additional set-ups, spaced 100 metres apart, targeted below the original fences and intersected mineralization down to 327 metres (See Kivalliq news release October 5, 2011). Final assays from deep drill holes at the Western Extension are pending.

All core holes were drilled to the northeast with azimuths bearing 26 degrees, at inclinations between minus 45 and 90 degrees. 43 of 54 holes drilled at the Western Extension have now intersected anomalous radioactivity between 30 and 327 metres vertical depth, in a zone dipping roughly 65 degrees to the southwest. Kivalliq announced initial assays from 17 diamond drill holes at the Western Extension on August 25, 2011.

For a summary of the 2011 exploration program at Angilak, please see the news release from October 18, 2011. To view related cross sections and drill plan maps, please visit http://kivalliqenergy.com/projects/angilak/program_images/

Western Extension Assay Results

2011 Lac Cinquante Western Extension Drilling Program – Assay Results 11-LC-039 to 11-LC-083
Hole	From	To	Interval (m)	% U3O8	% Cu	% Mo	Ag (g/t)	Est. True Width (m)	Note
11-LC-039	166.0	167.8	1.8	0.40	0.45	0.00	9.8	1.7	Main Zone
11-LC-040	215.2	218.2	3.0	0.14	0.02	0.00	0.6	2.1	Main Zone
11-LC-041	240.72	241.8	1.1	0.26	0.01	0.00	1.1	N/A	Qtz Carb Vein
11-LC-041	255.9	259.0	3.1	0.58	0.05	0.00	15.0	1.7	Main Zone
11-LC-042	83.0	87.2	4.2	0.11	1.98	0.00	34.4	4.0	Main Zone
11-LC-043	111.5	113.2	1.7	1.87	0.80	0.00	39.9	1.2	Main Zone
11-LC-044	157.0	159.2	2.2	0.28	0.58	0.00	22.5	1.1	Main Zone
11-LC-045	82.6	83.7	1.1	0.10	0.96	0.00	8.5	1.1	Main Zone
11-LC-046	119.2	123.4	4.2	0.24	0.24	0.07	3.5	2.9	Main Zone
11-LC-047	159.2	161.2	2.0	0.26	0.44	0.00	14.9	1.0	Main Zone
11-LC-048	94.7	96.0	1.3	0.36	0.71	0.01	9.6	1.3	Main Zone
11-LC-049	113.6	117.6	4.0	0.21	0.69	0.06	28.0	3.2	Main Zone
11-LC-051	95.2	98.2	3.0	0.38	0.21	0.00	1.9	3.0	Main Zone
11-LC-052	86.9	87.8	0.9	0.25	0.07	0.02	4.6	N/A	Qtz Carb Vein
11-LC-052	114.5	117.2	2.7	0.12	0.18	0.01	2.6	2.5	Main Zone
11-LC-053	156.3	158.5	2.2	0.25	0.84	0.00	56.0	1.5	Main Zone
11-LC-053	167.9	168.2	0.3	0.52	0.01	0.10	36.8	N/A	Qtz Carb Vein
11-LC-054	193.5	195.5	2.0	1.10	1.22	0.30	72.0	1.2	Main Zone
11-LC-055	73.5	74.9	1.4	0.07	1.09	0.00	15.3	1.3	Main Zone
11-LC-056	99.6	102.2	2.6	0.78	0.47	0.00	10.1	1.7	Main Zone
11-LC-056	106.1	106.7	0.6	0.64	0.02	0.32	32.5	N/A	Qtz Carb Vein
11-LC-057	118.8	119.8	1.0	2.41	0.20	0.05	16.6	N/A	Qtz Carb Vein
11-LC-057	142.2	145.5	3.3	1.89	0.35	0.01	19.5	1.7	Main Zone
11-LC-058	101.9	102.7	0.8	0.03	0.13	0.00	0.2	0.8	Main Zone
11-LC-059	134.4	136.2	1.8	0.05	0.11	0.00	76.4	1.3	Main Zone
11-LC-060	163.3	166.2	2.9	2.02	0.65	0.02	26.9	2.0	Main Zone
11-LC-061	112.7	113.3	0.6	0.05	0.10	0.00	0.0	0.6	Main Zone
11-LC-062	194.7	195.6	0.9	0.01	0.37	0.00	5.6	0.5	Main Zone
11-LC-063	66.0	66.4	0.4	0.13	0.01	0.00	1.4	0.3	Main Zone
11-LC-064	103.7	104.0	0.3	0.07	0.16	0.00	2.7	0.2	Main Zone
11-LC-080	175.0	177.0	2.0	0.16	0.78	0.03	18.6	0.9	Main Zone
11-LC-081	93.2	94.2	1.0	0.01	0.31	0.01	9.1	1.0	Main Zone
11-LC-081	112.2	112.6	0.4	0.27	0.01	0.04	4.9	N/A	Qtz Carb Vein
11-LC-082	105.4	106.0	0.6	2.21	1.46	0.39	90.2	0.6	Main Zone
11-LC-082	131.2	134.0	2.8	0.15	0.03	0.05	3.5	N/A	Qtz Cb Bx Vein
11-LC-083	126.3	127.9	1.6	1.53	1.62	0.17	70.3	1.2	Main Zone
11-LC-083	154.5	155.1	0.7	0.62	0.05	0.05	1.7	N/A	Qtz Carb Vein

Hole 11-LC-065 intersected the Western Extension shear zone but was not mineralized.

*All samples subject to ICP 1 Analysis by SRC in Saskatoon, SK. ICP1 results >1000 ppm U are subject to SRC U3O8 Assay; ICP1 results for Cu, Mo and Ag are reported by SRC in parts per million (ppm). 1 ppm = 1gm/t, 10000 ppm = 1%; Intervals include ICP U analysis in ppm converted to U3O8%. Conversion to U3O8% = ppm x 0.01179%. Estimate for true width of mineralization is based on the angle of surveyed drill hole and the apparent orientation of the zone at the intercept.

QA/QC

About Kivalliq Energy Corporation

On behalf of the Board of Directors

“Jim Paterson”

James Paterson, CEO
Kivalliq Energy Corporation

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