Exploration & Drilling

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the “Company” or “Kivalliq”) today announced the successful completion of the field component of the 2011 exploration program at the 225,000 acre Angilak Property in Nunavut, Canada.

2011 Exploration Program: Field component summary

• 23,849 metres of diamond drilling in 153 holes focused on expanding the Lac Cinquante resource and testing new mineralized target areas
• 6,411 metres in reverse circulation (“RC”) drilling in 88 holes, testing 25 target areas and identifying new areas for follow-up in 2012
• 5,470 line kilometres of airborne  magnetic, electromagnetic and radiometric surveying
• 1,640 line kilometres of ground magnetic, VLF electromagnetic and gravity  surveys
• Prospecting, mapping and soil geochemical surveys to advance known and new target areas
• Ongoing modelling, geological and environmental studies

“Kivalliq was able to conduct a significant and material exploration program in 2011. We commend our technical team for their dedication and execution, and thank our shareholders for their support during a volatile year in our sector,” stated CEO Jim Paterson. “Our belief in the exploration potential of the Angilak Property, including our ability to expand the Lac Cinquante uranium deposit, remains unwavering. We are confident that the pending results from drilling, prospecting and geophysical targeting will add significant value to this project.”

To view all cross sections, figures and maps from the 2011 exploration program please visit http://kivalliqenergy.com/projects/angilak/program_images/   

A Highly Productive Season

On February 15, 2011, Kivalliq announced a comprehensive $17 million exploration program. The program was a great success, exceeding all targets for proposed activities with the exception of the number of RC metres drilled.

The 2011 diamond drilling program, utilizing two core rigs from mid-April to October, totalled 23,849 metres in 153 holes. Drilling in 2011 increased the known extent of mineralization along the Lac Cinquante Trend from 1.3 kilometres to an aggregate of 2.3 kilometres through the discovery of the Western Extension and Eastern Extension zones. At the Western Extension, mineralization was intercepted at a vertical depth of 327 metres; the deepest intercept on the Angilak Property to-date. (See 2011 news releases of August 17 and October 5)

To date, Kivalliq has released assay results from 58 holes with assay results from 95 additional holes to be released, pending receipt and review, prior to the end of the year. The Company expects to incorporate results from new drilling along trend of Lac Cinquante into an updated 43-101 resource estimate by the end of Q1 2012.

The 2011 RC drill program at Angilak totalled 6,411 metres in 88 exploratory holes. Of the 88 RC holes drilled this year, 45 holes generated anomalous radioactivity greater than 500 counts per second (“cps”). Three discoveries made with the RC rig, i.e. Eastern Extension, Pulse, and Spark, were corroborated by diamond drill core holes, with additional targets set for diamond drilling as part of the 2012 drilling campaign. (See news release October 3, 2011)

The Company also undertook an aggressive targeting campaign this season, with results and interpretation pending from: 5,470 line kilometres of DIGHEM airborne magnetic, electromagnetic and radiometric surveying; 1,640 line kilometres of ground magnetic, VLF electromagnetic and gravity surveys; and a prospecting program which entailed the collection of 274 rock grab samples and 342 soil geochemical samples.

The fourth quarter of 2011 will be dedicated to technical analysis and resource modeling with the goal of identifying new target areas and updating a NI 43-101 mineral resource by the end of Q1, 2012.

QA/QC 

Split drill core samples have been sent to Saskatchewan Research Council Geoanalytical Laboratories (SRC) for analysis. SRC 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 and RC chips was measured in counts per second (CPS) using a hand-held Radiation Solutions Inc. RS-121 gamma ray scintillometer. Readings are considered anomalous above the 250 cps background recorded in adjacent rocks. The Company cautions that scintillometer readings are not directly related to uranium grade and are only used to indicate zones of radioactive material.

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, 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

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].

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.

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 an update on diamond drilling at the Western Extension zone, located 450 metres along strike and  west of the high grade Lac Cinquante uranium deposit.  Six of seven holes, recently drilled from two set ups designed for deep intercepts, have intersected highly radioactive intervals at vertical depths ranging from 193 to 327 metres.

“These holes have the deepest known radioactive intervals to-date on the Angilak Property,” stated President Jeff Ward, P.Geo. “Since drilling began in 2009, we have consistently intersected uranium mineralization at relatively shallow depths over 2.3 kilometres of combined strike along the Lac Cinquante trend. These new deep intervals clearly demonstrate the potential to expand significant uranium mineralization to much greater depths.”

The Western Extension has a known 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. The two recent set-ups were spaced 100 metres apart and collared further back in order to target the Western Extension at depth below the original fences.

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.

All core holes were drilled to the northeast with azimuths bearing 26 degrees, at inclinations between minus 55 and 75 degrees. Six of seven deep holes (11-LC-109, 115 to 120) confirmed the down dip extension of a highly radioactive shear zone, with gamma values ranging from 250 to 34,000 counts per second (CPS), over intervals up to 2.2 metres estimated true width.  

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. Final assays from Western Extension are pending.

To view a drill plan map related to this news release and all cross sections and maps from the 2011 exploration program please visit http://kivalliqenergy.com/projects/angilak/program_images/   

QA/QC

Half-spilt core samples from holes drilled at the Western Extension 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. The Company cautions that scintillometer readings are not directly related to uranium grade and are only used to indicate zones of radioactive material.

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, 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 $25 million conducting systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and approximately 48,000 meters of drilling.

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].

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.

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 an update from property-wide exploratory reverse circulation ("RC") and diamond drilling proximal to and along strike of the structure hosting the high grade Lac Cinquante Uranium Deposit. The RC strategy in 2011 was designed to advance prospecting and geophysical targets, across the 225,000 acre Angilak Property in Nunavut, Canada, to a level where diamond drill testing is warranted.

• Three zones discovered by RC drilling within three kilometres of the Lac Cinquante resource area were  corroborated by diamond drilling: Eastern Extension; Pulse Zone; and Spark Zone
• Two priority targets tested warrant diamond drilling in 2012, based on similarities to the geological and geophysical signatures of "unconformity related" targets: YAT Zone and VGR Zone
• Over 22 targets were tested by RC drilling property-wide in 2011, with 45 of 88 RC holes drilled generating anomalous radioactivity greater than 500 cps
• Assays from diamond drill core samples are pending from Eastern Extension, Pulse, and Spark zones

"This year’s RC drilling exploration strategy has been very productive; enabling us to rapidly test multiple drill targets at a greatly reduced cost in advance of diamond drilling," stated CEO Jim Paterson. "The confirmation of two "Athabasca-style" targets, YAT and VGR, underscores the exploration potential of the broader Angilak Property. RC drilling has also demonstrated that multiple zones proximal to Lac Cinquante are highly prospective for growing the Company’s mineral resource base in future seasons."

To view a drill plan map related to this news release and all cross sections and maps from the 2011 exploration program please visit http://kivalliqenergy.com/projects/angilak/program_images/   

Eastern Extension, Pulse, and Spark

Three zones discovered by 2011 RC drilling, within three kilometres of Lac Cinquante resource area, have been corroborated by core drilling. Assays from this diamond drilling at the Eastern Extension, Pulse and Spark zones are pending. These results are significant as they demonstrate the very real potential of identifying multiple mineral deposits within a concentrated area around Lac Cinquante. The Company hopes to incorporate diamond drill intercepts from the Eastern Extension into an updated resource calculation for the Lac Cinquante deposit by end Q1 2012.

The initial discovery of the Eastern Extension was previously reported by Kivalliq on August 17, 2011. Six RC holes were drilled from three setups located along the Lac Cinquante structural trend. All six holes intersected anomalous radioactivity, and 44 core holes from 13 setups were subsequently drilled at the Eastern Extension. The Eastern Extension displays similar geology to the Lac Cinquante Main Zone, with uranium mineralization developed in narrow, sheared and brecciated tuff layers adjacent to a sulfide-bearing tuff horizon.

The Pulse and Spark zones were identified as linear geophysical targets, located 0.8 kilometres north and 3 kilometres west respectively from the Lac Cinquante resource area. At the Pulse zone, anomalous radioactivity was intersected in nine of ten RC holes. Two core holes drilled as subsequent follow-up intersected radioactivity at 47 and 80 metres vertical depth.  At the Spark zone, six of seven RC and a single diamond drill hole intersected anomalous radioactivity at variable depths down to 65 metres vertically. The Spark zone is located approximately 500 metres west of the high-grade Blaze zone.

The Pulse zone is comprised of one to two metre wide carbonate-quartz-pitchblende veins in sheared and altered basalt, which correspond to a weak to moderate conductive trend identified by ground VLF-EM surveys. The Spark zone appears similar to the Blaze zone in that mineralization is hosted in one to two metre wide fracture controlled veins associated with a VLF-EM conductor. The geometry of the mineralized veining remains undetermined at this early stage.

YAT and VGR

Two priority targets that were tested by RC drilling in 2011 warrant follow up next year. The YAT zone is located 16 kilometres southwest of Lac Cinquante and central to the Angilak property. The VGR zone is situated on the west side of the property approximately 25 kilometres northwest of the resource area. Both zones are of great interest due to similarities with "unconformity related" targets.

 YAT is a zone of significant polymetallic carbonate veining on surface, containing Cu, U, Pb, Au, Ag, (See Kaminak Gold Corporation news release November 5, 2007), developed above a strong magnetic low, and interpreted basement faults. A 2011 gravity survey indicates a broad zone of weak low gravity with at least one significant "bullseye" gravity low. Two of four RC drill holes tested the bullseye gravity low, suggesting that it is caused by strong clay alteration of underlying lithologies down to at least 50 metres vertical depth.

The VGR zone is a 5 kilometre long conductive trend along a reactivated basement fault, displaying elevated radioactivity and favourable clay-silica alteration along its length. A gravity survey completed in 2011 shows the presence of at least one significant gravity low along the structure, possibly associated with clay alteration of underlying lithologies. One RC drill hole, inclined at minus 60 degrees under a historic trench across the conductor, contained elevated radioactivity (1000-4800 cps) in the upper 65 metres. Three additional holes were abandoned due to poor ground conditions related to clay alteration at down hole depths from 24 to 65 metres.

Based on the encouraging results of RC drilling, the YAT and VGR showings warrant follow-up with diamond drilling in 2012. In both areas, low gravity signatures correspond to areas of strong clay and silica alteration, possibly associated with reactivated basement structures. Mineralized surface showings at YAT and VGR are found in clastic and volcanic rocks of the Kazan and Christopher Island Formations, which overlie Archean basement in an unconformable relationship. The geology and mineral occurrences observed in these areas are comparable to high level alteration associated with unconformity-type mineralization in the Athabasca Basin of Saskatchewan. As such, both are considered highly prospective for uranium mineralization near the basement-cover interface. None of the RC holes completed in 2011 intersected the unconformity contact below these showings, thus these zones warrant further drill-testing in 2012.

Property-wide Success

The 2011 RC drill program at Angilak is now complete, totalling 6,411 metres in 88 exploratory holes. Of the 88 RC holes drilled this year, 45 holes generated anomalous radioactivity greater than 500 cps.
Three discoveries made with the RC rig were corroborated by diamond drill core holes, with additional targets set for diamond drilling as part of the 2012 drilling campaign. In all cases, RC hole locations were determined and prioritized after review of data from Kivalliq’s previous geophysical surveys and prospecting results.

QA/QC 

Split drill core samples from 47 holes at the Eastern Extension, Pulse, and Spark zones have been sent to Saskatchewan Research Council Geoanalytical Laboratories (SRC) for analysis. SRC 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 and RC chips was measured in counts per second (CPS) using a hand-held Radiation Solutions Inc. RS-121 gamma ray scintillometer. Readings are considered anomalous above the 250 cps background recorded in adjacent rocks. The Company cautions that scintillometer readings are not directly related to uranium grade and are only used to indicate zones of radioactive material.

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, 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 $25 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

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].

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.

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 mineral assay results from diamond drilling along the structure hosting the high grade Lac Cinquante Uranium Deposit, located within the 225,000 acre Angilak Property in Nunavut, Canada. Assay results disclosed herein are from diamond drilling at the Lac Cinquante Main Zone and the Lac Cinquante Western Extension Zone.

• High grade assays from Lac Cinquante deposit, include
  • 1.19% U3O8, 3.39% Cu, 0.56% Mo, 46.5 g/t Ag over 1.3 metres in hole 11-LC-001
  • 5.69% U3O8 over 0.2 metres at 241.6 metres down hole in 11-LC-008
• 10 of initial 17 holes at Western Extension Zone intersected grades >0.25%, including
  • 2.25% U3O8 over 2.3 metres in hole 11-LC-036
  • 0.73% U3O8 over 1.7 metres in hole 11-LC-033
• Western Extension strike length is 550 metres; zone remains open to depth
• Assays are pending from both Western Extension and Eastern Extension

 "We continue to concentrate our efforts on resource expansion drilling along the Lac Cinquante structural trend," stated CEO Jim Paterson. "Continued high grade assays, from deep holes and new zones along strike, bolster our confidence in being able to expand the deposit."

2011 Angilak Property Exploration Program

The ongoing 2011 drill program at Angilak now totals 17,425 metres in 115 diamond drill holes and an additional 5,146 metres in 70 exploratory holes using a reverse circulation (RC) drill rig. Diamond drilling to date has largely focused on resource expansion east and west of the high grade Lac Cinquante deposit and exploratory drilling at the Blaze Zone. The Kivalliq team considers both the Western Extension and Eastern Extension zones to be part of the same northwest-southeast trending geological structure which hosts the high grade Lac Cinquante uranium resource.

Airborne and ground geophysical crews, as well as a prospecting crew, are currently working on the project to advance target areas defined by the 2010 program and generate new targets across the Angilak Property.

For cross sections and drill plan maps, please visit http://www.corebox.net/properties/angilak/

Lac Cinquante Main Zone

20 holes drilled to date during 2011 at the Lac Cinquante Main Zone are disclosed in this news release, with follow up drilling at depth deemed a priority. All holes reported herein were inclined to the northeast with an azimuth of 26 degrees, at inclinations between minus 45 and 90 degrees, intersecting the Lac Cinquante Main Zone between 82.9 and 261.7 metres depth. For full disclosure regarding the Lac Cinquante Main Zone, please see Kivalliq’s NI 43-101 Technical Report on the Lac Cinquante Deposit from March 24, 2011. Please see assay results in table below.

Western Extension

The first 17 of 45 holes drilled to date at the Western Extension Zone are disclosed in this news release. 6,705 metres in 45 diamond drill holes have now tested this zone, along 15 fences spaced at 50 metres and to depths of up to 250 metres. The known strike of the Western Extension is 550 metres, starting 450 metres to the west and along strike of the Lac Cinquante Main Zone.

All holes were drilled to the northeast with azimuths bearing 26 degrees, at inclinations between minus 45 and 90 degrees. This work has identified a mineralized shear zone between 0.3 and 2.7 metres estimated true width, and dipping roughly 65 degrees to the southwest. 37 of 45 holes have intersected anomalous radioactivity between 30 and 250 metres vertical depth. Further assays from Western Extension are pending.

Lac Cinquante Assay Results

At the Lac Cinquante Main Zone, nine (9) drill holes; 11-LC-006, 011, 015, 016, 017, 018, 027, 028, 050 intersected no significant mineralization. These holes helped delineate high-grade ore shoots at depth and the margins of the Lac Cinquante Main Zone. 11-LC-004 was lost in overburden due to ground conditions.

Western Extension Assay Results

At the Western Extension Zone, two (2) holes; 11-LC-022 and 024 intersected no mineralization but helped delineate high-grade ore shoots within the 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 Ag, Mo and Cu, 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%.

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 into the sample inventory at the project site prior to shipment in sealed containers. All blank results were within expectations.

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, 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 $20 million conducting systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and 35,000 meters of drilling.

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].

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.

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 an update on diamond drilling near the high grade Lac Cinquante Uranium Deposit, located within the Angilak Property in Nunavut, Canada. Recent drilling successfully discovered a mineralized zone, the “Western Extension”, located to the west and along strike from the 1.35 kilometre long Lac Cinquante deposit. In addition, two diamond drills are now delineating a new zone, the “Eastern Extension,” discovered 450 metres east of the inferred resource area. Highly radioactive readings from diamond drilling along the Lac Cinquante structure have now extended the known strike extent of uranium mineralization to at least 2.3 kilometres.

• Western Extension strike length extended to 550 metres; zone remains open to depth
• Two diamond drill rigs currently testing newly discovered Eastern Extension
• Assays are pending from Lac Cinquante, Western Extension and Eastern Extension zones

“The discovery of both the Western and Eastern Extension zones underscores the growing significance of the Lac Cinquante structural trend,” stated CEO Jim Paterson. “We are also very pleased that recent targeting by the RC rig led to the discovery of the Eastern Extension zone, demonstrating that a combined RC and diamond drilling program is highly effective when exploring the Angilak Property.”

2011 Angilak Property Exploration Program

The ongoing 2011 drill program at Angilak now totals 15,820 metres in 106 diamond drill holes and an additional 4,775 metres in 65 exploratory holes using the reverse circulation (RC) drill rig. Diamond drilling to date has largely focused on resource expansion east and west of the high grade Lac Cinquante deposit and exploratory drilling at the Blaze Zone. The Kivalliq team considers both the Western Extension and Eastern Extension zones to be part of the same northwest–southeast trending geological structure which hosts the high grade Lac Cinquante uranium resource.

Airborne and ground geophysical crews, as well as a prospecting crew, are currently working on the project to advance target areas defined by the 2010 program and generate new targets across the Angilak Property.

For maps and drill plan images, please visit www.kivalliqenergy.com

Western Extension

Drilling at the Western Extension targeted a northwest trending VLF EM conductor which exhibited a response similar to that of the Lac Cinquante deposit. 6,705 metres in 45 diamond drill holes have now tested this zone, along 15 fences spaced at 50 metres and to depths of up to 250 metres. Recent drilling has significantly increased the known strike of the Western Extension to 550 metres, so that it now encompasses anomalous hole 10 LC-013 drilled last year (See June 24, 2010 news release). Based on recent drilling, the zone of radioactivity that makes up the Western Extension now starts 450 metres to the west and along strike of the Lac Cinquante main zone.

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.

All holes were drilled to the northeast with azimuths bearing 26 degrees, at inclinations between minus 45 and 90 degrees. This work has identified a highly radioactive shear zone between 0.3 and  2.7 metres estimated true width, and dipping roughly 65 degrees to the southwest. 37 of 46 holes have intersected anomalous radioactivity between 30 and 250 metres vertical depth. Radiation in excess of 10,000 counts per second (CPS) was measured in the deepest intervals on 6 drill set-ups, demonstrating the zone is open at depth and warrants further drilling. Assays from Western Extension are pending.

Eastern Extension

The discovery of the Eastern Extension zone 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. Currently, two diamond drills are delineating the Eastern Extension, which starts approximately 450 metres east of the Lac Cinquante inferred resource area. 

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

1,525 metres in 11 diamond drill holes have now tested the Eastern Extension zone from three set-ups spaced 50 and 350 metres apart respectively. All holes were drilled to the northeast with azimuths bearing 26 degrees, at inclinations between minus 45 and 89 degrees.  Eight holes have intersected anomalous radioactivity along 400 metres strike length, and between 35 and 255 metres vertical depth. The RC and core holes have confirmed the continuation of the Lac Cinquante structure eastward with highly radioactive intercepts up to 2.0 metres wide in a zone dipping 70 degrees to the southwest. Drilling will continue at the Eastern Extension and assays will be released upon receipt and review.

QA/QC

Half-spilt core samples from holes drilled at the Western Extension and Eastern Extension zones, with anomalous radioactivity levels between 250 and  56,000 CPS measured to date, will be 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. 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. The Company cautions that scintillometer readings are not directly related to uranium grade and are only used to indicate zones of radioactive material.

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, 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 $17 million conducting systematic exploration.

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].

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.

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 an update on exploratory diamond drilling at the Blaze Zone, located approximately two kilometres west of the high grade Lac Cinquante uranium deposit, within Kivalliq’s 225,000 acre Angilak Property in Nunavut, Canada.

• Early exploratory drilling at Blaze has outlined a mineralized system that warrants further drilling, demonstrating the potential for additional uranium discoveries on Kivalliq’s 225,000 acre Angilak Property
• Assays from the first ten of 19 holes drilled at Blaze have identified significant U-Cu-Ag-Mo mineralization over 100 metres strike length and down to a depth 160 metres, remaining open along strike and to depth
• Hole 11 BZ-010, with 1.01% U3O8 over 25.4 metres, is a significant interval that includes impressive Cu, Ag and Mo values. Subsequent holes (assays pending) suggest true width of this interval to be roughly 4 metres
• Blaze is defined by several fracture zones with veining, breccia and associated hematite alteration that crosscuts metavolcanic host rock
• Assays are pending from the nine remaining holes drilled at Blaze Zone

"The initial results from our exploratory drilling at the Blaze Zone have been highly encouraging," stated CEO Jim Paterson. "We are fully funded to continue with our planned 35,000 metres of resource building at Lac Cinquante and discovery drilling at targets like Blaze."

Assay results reported in Table 1 of this release are from the first ten of 19 diamond drill holes that have tested the Blaze Zone in 2011. The intervals reported herein build on the success of hole 10-NE-001 drilled at the Blaze Zone at the end of the 2010 season. Updated 2011 drill plans, sections and tables can be found on the Company’s website at www.kivalliqenergy.com .

Table 1: 2011 Phase 1 Assay Results from Blaze 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 Ag, Mo and Cu, 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 down-hole and true width of zones or intervals are not known at this time

*Hole 10-NE-011 was drilled as part of the 2010 exploration program and previously reported on December 13, 2010

Blaze Zone Summary

"Multiple intervals of anomalous uranium in a number of holes at the Blaze Zone have already added considerable excitement to this year’s program," Jeff Ward, Kivalliq’s President, stated. "We will return to drill the Blaze Zone upon receipt of further assay results."

The Blaze Zone is located approximately 2.0 kilometers west of the Lac Cinquante uranium deposit. Mineralization occurs as pitchblende rich, quartz-carbonate veins and breccia, occasionally with disseminated and patches of sulphide. It is commonly two separate zones (upper and lower), occurring as clusters of veins or fracturing, crosscutting the southwest dipping sequence of host metabasalt, metagabbro and metatuff units. In holes 11-BZ-001 through 010, upper and lower zones of varying widths are separated by 24 to 64 metres of unaltered metavolcanics. Mineralization is also associated with moderate to strong, hematite alteration within the host units, primarily around fractures and breccia.

Most notable is hole 11-BZ-010, which intersected 1.01% U3O8, 1.48% Cu, 83 grams/tonne Ag and 0.28% Mo over 25.4 metres. The intercept is a series of semi-stockworked quartz-carbonate stringers and veinlets in brecciated carbonate-hematite altered host basalt. Based on subsequent drilling, this particular intercept has an estimated true width of 4.0 meters, although the actual geometry is still unclear at this time.

The Blaze Zone has been drilled across a strike length of 100 meters to a depth of 160 meters below surface. A total of 2,692 meters of NQ drill core from 19 drill holes have investigated mineralization at Blaze, with assays from the first ten reported herein. Holes 11-BZ-001 through to 11-BZ-015 were drilled at azimuth 035 degrees from five locations at 25 meter drill section intervals across the 100 meter strike length targeted. Core logging suggests initial setups may have drilled sub-parallel to some of the mineralized trends. Therefore, two additional setups drilling azimuth 180 degrees for holes 11-BZ-016 and 11-BZ-017, and at azimuth 130 degrees for holes 11-BZ-018 and 11-BZ-019 respectively were drilled oblique and perpendicular to earlier holes in order to determine structural controls and estimate true widths of mineralization. Results for holes 11-BZ-011 through 11-BZ-019 are pending.

QA/QC 

Samples from the 2011 Phase 1 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 into the sample inventory at the project site prior to shipment in sealed containers. All blank results were within expectations.

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, 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"

Jim Paterson, CEO
Kivalliq Energy Corporation

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

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.

Certain disclosures in this release, including management’s assessment of plans and projects and intentions with respect to listings of securities, use of proceeds, future exploration programs and the completion of the 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) (the “Company” or “Kivalliq”) today announced commencement  of Phase 1 of the 2011 exploration program at Kivalliq’s 225,000 acre Angilak Property in Nunavut Territory, Canada. The program consists of a 20,000 metre diamond drill program on the high-grade Lac Cinquante Uranium Deposit and Blaze zone, plus 15,000 metres of reverse circulation (RC) drilling on exploration targets property-wide. The Company has also initiated a ground geophysical surveying program in order to generate and delineate additional drill targets.

“Drilling during the 2009 and 2010 exploration seasons led to Kivalliq’s recently announced inferred resource of 810,000 tonnes grading 0.79% U3O8, totalling 14.15 million pounds at Lac Cinquante, as well as identifying the Blaze zone as an exciting new target area at which to build additional uranium resources,” stated Kivalliq’s CEO Jim Paterson. “Kivalliq is fully funded to execute the exploration program at Angilak as announced on February 15, 2011 and we are excited that the 2011 campaign is now underway.”

The following points summarize the proposed 2011 exploration program:

Disclosure of a technical nature contained in this release has been reviewed and approved by Jeff Ward, P.Geo. (President, Kivalliq) who is the Qualified Person for the purposes of National Instrument 43-101. For disclosure related to the inferred resource for the Lac Cinquante uranium deposit, please refer to Kivalliq news release of February 7, 2011.

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 [email protected].

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.

Certain disclosures in this release, including management’s assessment of plans and projects and intentions with respect to listings of securities, use of proceeds, future exploration programs and the completion of the 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) (the “Company” or “Kivalliq”) today announced a two phase exploration program at the 225,000 acre Angilak Property in Nunavut Territory, Canada. Kivalliq plans to drill 20,000 metres of NQ core with two diamond drill rigs and 15,000 metres of  reverse circulation (“RC”) drilling on exploration targets with a light weight RC fly rig. The Company also plans to conduct extensive airborne and ground geophysical surveying programs and an aggressive prospecting campaign. 

“Building on the recently announced inferred resource of 810,000 tonnes grading 0.79% U3O8, totalling 14.15 million pounds at Lac Cinquante, Kivalliq’s board of directors has approved an aggressive exploration program at the Angilak Property in 2011,” stated Jim Paterson, Kivalliq’s CEO. “Our 2011 exploration goals are clearly defined as follows: 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.”

Kivalliq’s board of directors has approved a two-phased, $17 million exploration program at Angilak for the 2011 season. The first phase commences in March 2011 with the mobilization of crews and equipment to the existing Nutaaq camp. The Company is fully funded to drill from April to June, with two diamond drill rigs and one RC rig, and conduct ground geophysical surveys until break-up sometime in June. The Company will commence the second phase of the proposed exploration program at Angilak in July.

The following points summarize both the first and second phase of the proposed 2011 exploration campaign:

• 20,000 metres of diamond drill core, with up to 100 holes focused on expanding and potentially upgrading the Lac Cinquante resource
• 15,000 metres of RC drilling to test in excess of 30 target areas with up to 150 holes
• Combination of airborne (4,000 line kilometres) and ground geophysical surveys (1250 line kilometres)
• Continued prospecting to advance target areas defined by the 2010 program and investigate new targets identified by 2011 geophysical surveying.
• Ongoing modelling, geological and environmental studies; continued emphasis on community consultation
• Infrastructure expansion for improved logistics and to handle additional staff and equipment
• Revision and upgrade of current inferred NI 43-101 resource by Q2 2012

Disclosure of a technical nature contained in this release has been reviewed and approved by Jeff Ward, P.Geo. (President, Kivalliq) who is the Qualified Person for the purposes of National Instrument 43-101. For disclosure related to the inferred resource for the Lac Cinquante uranium deposit, please refer to Kivalliq news release of February 7, 2011.

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 , 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 $12 million conducting systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and 18,350 meters of drilling.

On behalf of the Board of Directors

“Jim Paterson”

Jim 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 Discovery Group of companies, for more information on the group visit www.discoveryexp.com (m.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.