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Financing & Capital Markets

Kivalliq Energy Corporation (TSX-V: KIV) ("Kivalliq" or the "Company") today announced that shareholders have approved the sale of an additional CDN$1,200,000 (4.8 million Units) to Lumina Capital Limited Partnership ("Lumina Capital"). 

If Lumina Capital chooses to exercise its right to participate in the full amount, it will own approximately 18.3% of the shares of the Company on an undiluted basis, and approximately 24.2% assuming exercise of all warrants held by Lumina Capital. As this would constitute a “change of control” pursuant to the policies of the TSX Venture Exchange, Kivalliq was required to obtain shareholder consent to the issuance of securities to Lumina Capital in excess of 20% of the shares of the Company (on a partially diluted basis).

The financing, first announced July 15, 2010, consisted of 24.8 million units (“Units”), at a price of $0.25 per Unit for proceeds of CDN$6,200,000.  Each Unit consists of one common share and one-half of one whole warrant.  Each whole warrant will allow the holder to acquire an additional common share of Kivalliq at a price of $0.35 per share for a period of two years following the date of issuance of the Unit.  The Company closed on the sale of an initial tranche of approximately CDN$5,000,000 of units on July 28 and has now received shareholder approval to close on the sale of an additional CDN$1,200,000 of units to Lumina Capital. 

Proceeds of the placement will be used to explore and develop Kivalliq’s high-grade Lac Cinquante uranium deposit, located within the Angilak Project in Nunavut, Canada, and for general working capital purposes.  A commission will be payable on a portion of the Placement.  The financing is subject to regulatory approval and the securities will be subject to a four month resale restriction.
 
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 Territory, Canada.

Kivalliq’s core asset, the 225,000 acre Angilak Project, is comprised of the historic Lac Cinquante uranium deposit (not National Instrument 43-101 compliant)** and over 150 other uranium occurrences. Since acquiring the project in 2008, the Company has spent approximately $6.7 million on the property conducting systematic exploration which has included ground and airborne geophysics, geological mapping and drilling.

On behalf of the Board of Directors

“John Robins”

John Robins, P.Geo
President and CEO
Kivalliq Energy Corporation

For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at [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.

** The quoted disclosure of historical resource estimates for the Lac Cinquante Uranium Deposit was prepared by Aberford Resources Ltd in 1982, Abermin Corporation in 1986, and referenced by other subsequent sources.  It was prepared prior to the implementation of National Instrument 43-101 (NI 43-101) and should not be relied upon since it does not comply with NI 43-101 Standards of Disclosure for Mineral Projects. A Qualified Person has not classified the historical estimates as current mineral resources or reserves, and therefore, Kivalliq is not treating them as such. Kivalliq has not completed any work to verify these estimates, but ongoing exploration programs are designed to evaluate the economic potential of the deposit and environs. It is uncertain if further exploration will result in the deposit being classified a mineral resource or reserve. However, the historical uranium resource estimate is relevant because: it is indicative of a mineralized zone worthy of follow-up exploration as it is based on drilling and surface exploration  carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. Historic estimates were originally classified as “indicated” and “inferred” reserves, plus a third “possible” category; however, the equivalent categories acceptable under NI 43-101 are not known at this time.  

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

 

Kivalliq Energy Corporation (TSX-V: KIV) ("Kivalliq" or the "Company") today announced that it has closed the initial CDN$5 million tranche in a non brokered private placement with Lumina Capital Limited Partnership ("Lumina Capital") and other strategic investors. 

The proceeds from this financing will be used to explore and develop Kivalliq’s high-grade Lac Cinquante uranium deposit, located within the Angilak Project within Nunavut, Canada, and for general working capital purposes.  See Kivalliq news release of July 15, 2010 for more details on the financing.  Commissions totalling $187,500 will be payable on portions of the Placement.  The financing is subject to regulatory approval and the securities issued as part of this portion of the Placement will be subject to a four month resale restriction ending on November 29, 2010.

The Company expects to hold an extraordinary general meeting of its shareholders in the near future to consider approval of the additional CDN$1.2 million of units to Lumina Capital.  However the Company is also taking steps to obtain majority shareholder approval prior to the Extraordinary meeting.

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 Territory, Canada.

Kivalliq’s core asset, the 225,000 acre Angilak Project, is comprised of the historic Lac Cinquante uranium deposit (not National Instrument 43-101 compliant)** and over 150 other uranium occurrences. Since acquiring the project in 2008, the Company has spent approximately $6.7 million on the property conducting systematic exploration which has included ground and airborne geophysics, geological mapping and drilling.

On behalf of the Board of Directors
“John Robins”
John Robins, P.Geo
President and CEO
Kivalliq Energy Corporation

For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at [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.

** The quoted disclosure of historical resource estimates for the Lac Cinquante Uranium Deposit was prepared by Aberford Resources Ltd in 1982, Abermin Corporation in 1986, and referenced by other subsequent sources.  It was prepared prior to the implementation of National Instrument 43-101 (NI 43-101) and should not be relied upon since it does not comply with NI 43-101 Standards of Disclosure for Mineral Projects. A Qualified Person has not classified the historical estimates as current mineral resources or reserves, and therefore, Kivalliq is not treating them as such. Kivalliq has not completed any work to verify these estimates, but ongoing exploration programs are designed to evaluate the economic potential of the deposit and environs. It is uncertain if further exploration will result in the deposit being classified a mineral resource or reserve. However, the historical uranium resource estimate is relevant because: it is indicative of a mineralized zone worthy of follow-up exploration as it is based on drilling and surface exploration  carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. Historic estimates were originally classified as “indicated” and “inferred” reserves, plus a third “possible” category; however, the equivalent categories acceptable under NI 43-101 are not known at this time.  

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

 

Kivalliq Energy Corporation (TSX-V: KIV) ("Kivalliq" or the "Company") today announced that Lumina Capital Limited Partnership ("Lumina Capital") together with certain other strategic investors, will subscribe for a total of CDN$6,200,000 in a non brokered private placement in Kivalliq.  The proceeds from this financing will be used to explore and develop Kivalliq’s high-grade Lac Cinquante uranium deposit, located within the Angilak Project in Nunavut, Canada, and for general working capital purposes.

The financing will consist of 24.8 million units (“Units”), at a price of $0.25 per Unit.  Each Unit consists of one common share and one-half of one whole warrant.  Each whole warrant will allow the holder to acquire an additional common share of Kivalliq at a price of $0.35 per share for a period of two years following the date of issuance of the Unit.  A commission will be payable on a portion of the Placement.  The financing is subject to regulatory approval and the securities will be subject to a four month resale restriction.

Upon the closing of the financing, Lumina Capital will own approximately 19.6% of the shares of the Company on an undiluted basis, and approximately 25.8% assuming exercise of all warrants held by Lumina Capital. As this would constitute a “change of control” pursuant to the policies of the TSX Venture Exchange, Kivalliq will be required to obtain shareholder consent to the issuance of securities to Lumina Capital in excess of 20% of the shares of the Company (on a partially diluted basis).  The Company therefore plans to close on the sale of an initial tranche of approximately CDN$5,000,000 of units and then seek shareholder approval to close on the sale of an additional CDN$1,200,000 of units to Lumina Capital.  Lumina Capital will participate in the initial tranche of the placement but will not hold more than 19.9% of the shares of the Company (on a partially diluted basis) after closing of the initial tranche.  The Company expects to hold an extraordinary general meeting of its shareholders in the near future to consider approval of the additional CDN$1,200,000 of units to Lumina Capital.
 
"We are very pleased to have Lumina Capital’s continued support as a major shareholder while we move toward establishing a compliant resource at Lac Cinquante,” said Kivalliq’s President & CEO, John Robins.  

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 Territory, Canada.

Kivalliq’s core asset, the 225,000 acre Angilak Project, is comprised of the historic Lac Cinquante uranium deposit (not National Instrument 43-101 compliant)** and over 150 other uranium occurrences. Since acquiring the project in 2008, the Company has spent approximately $6.7 million on the property conducting systematic exploration which has included ground and airborne geophysics, geological mapping and drilling.

On behalf of the Board of Directors
“John Robins”
John Robins, P.Geo
President and CEO
Kivalliq Energy Corporation

For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at [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.

** The quoted disclosure of historical resource estimates for the Lac Cinquante Uranium Deposit was prepared by Aberford Resources Ltd in 1982, Abermin Corporation in 1986, and referenced by other subsequent sources.  It was prepared prior to the implementation of National Instrument 43-101 (NI 43-101) and should not be relied upon since it does not comply with NI 43-101 Standards of Disclosure for Mineral Projects. A Qualified Person has not classified the historical estimates as current mineral resources or reserves, and therefore, Kivalliq is not treating them as such. Kivalliq has not completed any work to verify these estimates, but ongoing exploration programs are designed to evaluate the economic potential of the deposit and environs. It is uncertain if further exploration will result in the deposit being classified a mineral resource or reserve. However, the historical uranium resource estimate is relevant because: it is indicative of a mineralized zone worthy of follow-up exploration as it is based on drilling and surface exploration  carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. Historic estimates were originally classified as “indicated” and “inferred” reserves, plus a third “possible” category; however, the equivalent categories acceptable under NI 43-101 are not known at this time.  

Certain disclosures in this release, including management’s assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Kivalliq Energy Corporation (TSX-V: KIV) ("Kivalliq" or the "Company") today announced that Lumina Capital Limited Partnership ("Lumina Capital"), an investment partnership held principally by Vancouver mining entrepreneur Ross Beaty, has exercised 2,500,000 warrants early as part of an incentive program to encourage the exercise of outstanding warrants (the "Original Warrant(s)"). Lumina Capital now owns 5,000,000 common shares of the Company equal to 8.7% of outstanding shares of Kivalliq.  Proceeds from the incentive program will be used for general working capital and to further exploration at the historic Lac Cinquante uranium deposit, located in Nunavut, Canada.

"We are very pleased that Lumina Capital has demonstrated strong support by exercising warrants early and significantly increasing its shareholding in Kivalliq,” said Kivalliq’s President & CEO, John Robins. “The program to accelerate warrants minimizes share dilution while providing the Company with the capital it needs to advance this exciting project toward a NI 43-101 compliant uranium resource.”

Early Warrant Exercise

The Original Warrants were issued as part of a 10,000,000 unit financing that closed on February 24, 2010, that gave holders the right to acquire one common share at a price of $0.35 until the expiry date of February 24, 2012.

The TSX Venture Exchange has approved the incentive program and the resulting amendment to the Original Warrants, whereby each holder of an Original Warrant who elects to exercise their Original Warrant prior to the expiry date of the incentive program, July 9, 2010 (the "Expiry Date") will receive a unit ("Unit") comprised of one common share and one-half of one whole warrant (a "New Warrant"). Each whole New Warrant will allow the holder to acquire an additional one common share of KIV at a price of $0.45 per share for 18 months following the date of issuance of the Unit. The Warrants will be subject to a four-month hold period. If a warrant holder does not exercise their Original Warrants by the Expiry Date, the Original Warrants will continue to be exercisable for common shares on the same terms that previously existed. None of the Original Warrants were issued as finders fees or agents warrants and thus no New Warrants will be issued as finders fees or agents warrants as part of this amendment.

About Kivalliq Energy Corporation

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

This landmark partnership with the Inuit gives Kivalliq a unique opportunity to explore and develop the Lac Cinquante Deposit, northern Canada’s highest grade historic uranium deposit.

On behalf of the Board of Directors

“John Robins”

John Robins, P.Geo
President and CEO
Kivalliq Energy Corporation

For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at [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.

** The quoted disclosure of historical resource estimates for the Lac Cinquante Uranium Deposit was prepared by Aberford Resources Ltd in 1982, Abermin Corporation in 1986, and referenced by other subsequent sources.  It was prepared prior to the implementation of National Instrument 43-101 (NI 43-101) and should not be relied upon since it does not comply with NI 43-101 Standards of Disclosure for Mineral Projects. A Qualified Person has not classified the historical estimates as current mineral resources or reserves, and therefore, Kivalliq is not treating them as such. Kivalliq has not completed any work to verify these estimates, but ongoing exploration programs are designed to evaluate the economic potential of the deposit and environs. It is uncertain if further exploration will result in the deposit being classified a mineral resource or reserve. However, the historical uranium resource estimate is relevant because: it is indicative of a mineralized zone worthy of follow-up exploration as it is based on drilling and surface exploration  carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. Historic estimates were originally classified as “indicated” and “inferred” reserves, plus a third “possible” category; however, the equivalent categories acceptable under NI 43-101 are not known at this time.

Certain disclosures in this release, including management’s assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise

Kivalliq Energy Corporation (TSX-V: KIV) ("Kivalliq" or the "Company") today announced that it is applying to the TSX Venture Exchange for approval of an incentive program to encourage the early exercise of outstanding warrants (the "Original Warrant(s)").

The Original Warrants were issued as part of a financing that closed on February 24, 2010, which gave holders the right to acquire one common share at a price of $0.35 until the expiry date of February 24, 2012.

In order to encourage the early exercise of such warrants, Kivalliq will be seeking an amendment to the terms of the Original Warrants to enable the holders to receive a Unit (as defined and described below) for each Original Warrant exercised.

The proceeds of the financing would be used to further the Company’s exploration projects, fund possible new acquisitions and for general working capital. The incentive program is subject to Exchange approval and Kivalliq will give notice to the Original Warrant holders as soon as the approval is received.

Early Warrant Exercise

After approval of the incentive program and the resulting amendment to the Original Warrants, each holder of an Original Warrant who elects to exercise their Original Warrant prior to the expiry date of the incentive program (the "Expiry Date") will receive a unit ("Unit") comprised of one common share and one-half of one whole warrant (a "New Warrant"). Each whole New Warrant will allow the holder to acquire an additional one common share of KIV at a price of $0.45 per share for 18 months following the date of issuance of the Unit. The Warrants will be subject to a four-month hold period. If a warrant holder does not exercise their Original Warrants by the Expiry Date, the Original Warrants will continue to be exercisable for common shares on the same terms that previously existed. None of the Original Warrants were issued as finders fees or agents warrants and thus no New Warrants will be issued as finders fees or agents warrants as part of this amendment.

About Kivalliq Energy Corporation

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

This landmark partnership with the Inuit gives Kivalliq a unique opportunity to explore and develop the Lac Cinquante Deposit, northern Canada’s highest grade uranium deposit.

On behalf of the Board of Directors

“John Robins”

John Robins, P.Geo
President and CEO
Kivalliq Energy Corporation

For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at [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.

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the “Company” or “Kivalliq”) today announced that the Company has received proceeds of CDN $1,785,700 from the exercise of 5,819,000 common share purchase warrants (the "Warrants") at C$0.30 per Warrant and 200,000 common share purchase warrants (the "Warrants") at C$0.20 per Warrant. The accelerated Warrants expired on April 7th, 2010 and were issued in connection with the Company’s financings completed in May 2009.

Currently, Kivalliq has approximately CDN $3,950,000 in working capital with no debt. The Company’s current issued and outstanding share capital is 57,411,369 common shares.

“We appreciate the support our warrant holders and shareholders have demonstrated over the past month,” stated John Robins, President & CEO, Kivalliq Energy Corp. “The proceeds from the exercise of these warrants will be applied towards Kivalliq’s 2010 exploration program.”

Stock Options Granted

The Board of Directors has granted 1,315,000 stock options, under the Company’s stock option plan, to insiders and consultants of the Company, subject to regulatory approval. The options are exercisable at a price of $0.45 per common share, subject to a four-month hold period, and expire on April 22, 2015.

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.

This landmark partnership with the Inuit gives Kivalliq a unique opportunity to explore and develop the Lac Cinquante Deposit, Canada’s highest grade uranium deposit outside of the Athabasca Basin.  Reported to contain 20.4 million pounds of uranium oxide with grades in excess of 1% U3O8 (not National Instrument 43-101 compliant)**, the historic Lac Cinquante uranium deposit and over 150 other uranium occurrences on the property comprise Kivalliq’s core asset, the 225,000 acre Angilak Project.

On behalf of the Board of Directors

“John Robins”

John Robins, P.Geo
President and CEO
Kivalliq Energy Corporation

For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at [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.

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

** The quoted disclosure of historical resource estimates for the Lac Cinquante Uranium Deposit was prepared by Aberford Resources Ltd in 1982, Abermin Corporation in 1986, and referenced by other subsequent sources.  It was prepared prior to the implementation of National Instrument 43-101 (NI 43-101) and should not be relied upon since it does not comply with NI 43-101 Standards of Disclosure for Mineral Projects. A Qualified Person has not classified the historical estimates as current mineral resources or reserves, and therefore, Kivalliq is not treating them as such. Kivalliq has not completed any work to verify these estimates, but ongoing exploration programs are designed to evaluate the economic potential of the deposit and environs. It is uncertain if further exploration will result in the deposit being classified a mineral resource or reserve. However, the historical uranium resource estimate is relevant because: it is indicative of a mineralized zone worthy of follow-up exploration as it is based on drilling and surface exploration  carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. Historic estimates were originally classified as “indicated” and “inferred” reserves, plus a third “possible” category; however, the equivalent categories acceptable under NI 43-101 are not known at this time.

Certain disclosures in this release, including management’s assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (the “Company” or “Kivalliq”) today announced its 2010 exploration plans for the Angilak Project in Nunavut, with a focus on the historic Lac Cinquante Uranium Deposit located in Nunavut, Canada.

 “We are planning an aggressive drill program for 2010,” stated John Robins, President & CEO, Kivalliq Energy Corp. “Our main goal for this year’s program will be to establish a 43-101 compliant resource at Lac Cinquante and to conduct additional exploratory drilling to demonstrate the deposit’s expansion potential.”

Exploration Plan 2010

Timeframe

Construction of a fully winterized field camp to support expanded operations will be completed during the months of March and April, 2010. Fuel is currently being mobilized to site and the six month drill program will commence in early April. The fourth quarter of 2010 will be dedicated to technical and engineering analysis, with a goal of establishing a 43-101 compliant mineral resource by early 2011.

Drilling

Up to 10,000 metres drilling is planned at Lac Cinquante, starting with one on-site rig in early April 2010. Drilling will target historic resource dimensions and the known mineralized envelope using information from historic core on-site and results from Kivalliq’s highly successful 2009 drill campaign. Exploration drilling will focus on demonstrating the expansion potential at Lac Cinquante where mineralization is open along strike and to depth. In addition, drilling will test high-priority targets along the 9 km long Lac Cinquante geophysical trend.

Property-wide Exploration

The Company plans to continue an aggressive program of surface exploration on the remainder of the 225,000 acre Angilak property, which has over 150 known uranium occurrences, representing several different model types. This summer program will consist of prospecting, sampling and drill target identification.

Technical Work and Baseline Studies

To aid in the planning of the project’s future exploration and development, the Company is undertaking a series of technical and baseline studies. Preliminary metallurgical work is underway and environmental baseline studies will begin this year. JDS Energy and Mining has also been engaged to perform a conceptual economic and access study for the project. Resource modeling will commence in Q4 2010.

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

Acceleration of Warrants

Kivalliq also announced that pursuant to the terms of the warrants (the “Warrants”) issued as part of Kivalliq’s private placement offerings (“Private Placements”), which closed on May 26, 2009, Kivalliq has elected to exercise its right (the “Acceleration Right”) to reduce the period within which the Warrants may be exercised. The Company will provide written notice of the acceleration to each of the Warrantholders.

The Acceleration Right was triggered when the weighted average trading price of Kivalliq’s common shares on the TSX Venture Exchange (“Exchange”) was at a price equal to, or greater than, $0.40 CDN, being $0.10 CDN above the current exercise price of the Warrants, for a period of 10 consecutive trading days, commencing February 22, 2010 through to Mar 5, 2009. On March 5, 2010 the closing price of the common shares on the Exchange was $0.425 CDN.

Warrantholders will be entitled to exercise the Warrants for a period of 30 days commencing March 9th, 2010 and ending April 7th, 2010. All Warrants not exercised on or before 12:00 p.m. (Pacific time) on April 7th, 2010 will expire and be void and of no further force and effect. 

Proceeds from the exercise of warrants will be applied towards Kivalliq’s 2010 exploration program.

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.

This landmark partnership with the Inuit gives Kivalliq a unique opportunity to explore and develop the Lac Cinquante Deposit, Canada’s highest grade uranium deposit outside of the Athabasca Basin.  Reported to contain 20.4 million pounds of uranium oxide with grades in excess of 1% U3O8 (not National Instrument 43-101 compliant)**, the historic Lac Cinquante uranium deposit and over 160 other uranium occurrences on the property comprise Kivalliq’s core asset, the 270,000 acre Angilak Project.

On behalf of the Board of Directors

“John Robins”

John Robins, P.Geo
President and CEO
Kivalliq Energy Corporation

For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at [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.

** The quoted disclosure of historical resource estimates for the Lac Cinquante Uranium Deposit was prepared by Aberford Resources Ltd in 1982, Abermin Corporation in 1986, and referenced by other subsequent sources.  It was prepared prior to the implementation of National Instrument 43-101 (NI 43-101) and should not be relied upon since it does not comply with NI 43-101 Standards of Disclosure for Mineral Projects. A Qualified Person has not classified the historical estimates as current mineral resources or reserves, and therefore, Kivalliq is not treating them as such. Kivalliq has not completed any work to verify these estimates, but ongoing exploration programs are designed to evaluate the economic potential of the deposit and environs. It is uncertain if further exploration will result in the deposit being classified a mineral resource or reserve. However, the historical uranium resource estimate is relevant because: it is indicative of a mineralized zone worthy of follow-up exploration as it is based on drilling and surface exploration  carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. Historic estimates were originally classified as “indicated” and “inferred” reserves, plus a third “possible” category; however, the equivalent categories acceptable under NI 43-101 are not known at this time. 

Certain disclosures in this release, including management’s assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Vancouver, BC – Kivalliq Energy Corporation (TSX-V: KIV) (“Kivalliq” or the “Company”) today announced the closing of a non-brokered, private placement offering (“Offering”) of 10,000,000 units at a price of $0.20 per unit, for total gross proceeds of CDN$2,000,000. Lumina Capital Limited Partnership (“Lumina Capital”), an investment partnership held principally by Vancouver mining entrepreneur Ross Beaty, purchased $500,000 of the total Offering. The proceeds from this financing will be used to explore and develop Kivalliq’s high-grade Lac Cinquante uranium deposit, located within the Angilak Project in Nunavut, Canada, and for general working capital purposes.

“This financing allows for a planned commencement date of early April for the first phase of the 2010 drill program at Lac Cinquante,” said Kivalliq’s President & CEO, John Robins. “Lumina Capital’s financial support and involvement has increased the Company’s profile and greatly accelerated the project exploration timeline.”

As announced by Kivalliq on January 28, 2010, the Offering consists of 10 million units (“Units”), at a price of $0.20 cents per Unit. Each Unit consists of one common share and one common share purchase warrant. Each share purchase warrant will entitle the holder to purchase one common share at a price of $0.35 for a period of two years. Upon the closing of the financing and if it were to exercise its warrants, Lumina Capital will own approximately 9.9% of the shares of the Company on a fully diluted basis. Directors and Officers of Kivalliq purchased 135,000 units of the financing. Finder’s fees totaling $57,000 have been paid in connection with the financing. The Units will be subject to a four month resale restriction expiring June 23, 2010.

Angilak Project, Nunavut, Canada

Covering 225,000 acres, the Angilak Project is Kivalliq’s core asset. A consolidation of multiple land positions in the 1970s and 1980s, and unexplored for over 25 years, the Angilak Project offers Kivalliq a unique opportunity to apply modern day exploration techniques and technology in a highly prospective terrain.

The Angilak Project is host to the historic, high-grade Lac Cinquante uranium deposit which is reported to contain 20.4 million pounds of uranium oxide with grades in excess of 1% U3O8 (not National Instrument 43-101 compliant)**.  Open at depth and along trend, the Lac Cinquante uranium deposit is near-surface and has been drilled to a depth of 265 metres.  The Angilak Project also boasts other high-grade uranium surface showings near the deposit and many geophysical signatures analogous to Lac Cinquante, suggesting high potential for the discovery of look-alike deposits on the property.

The technical information contained in this release has been prepared by Jeff Ward, Vice-President, Exploration, Kivalliq Energy Corporation and a Qualified Person as defined by National Instrument 43-101.

About Kivalliq Energy Corporation

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

This landmark partnership with the Inuit gives Kivalliq a unique opportunity to explore and develop the Lac Cinquante Deposit, northern Canada’s highest grade uranium deposit.

On behalf of the Board of Directors

“John Robins”

John Robins, P.Geo

President and CEO
Kivalliq Energy Corporation

For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at [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.

** The quoted disclosure of historical resource estimates for the Lac Cinquante Uranium Deposit was prepared by Aberford Resources Ltd in 1982, Abermin Corporation in 1986, and referenced by other subsequent sources.  It was prepared prior to the implementation of National Instrument 43-101 (NI 43-101) and should not be relied upon since it does not comply with NI 43-101 Standards of Disclosure for Mineral Projects. A Qualified Person has not classified the historical estimates as current mineral resources or reserves, and therefore, Kivalliq is not treating them as such. Kivalliq has not completed any work to verify these estimates, but ongoing exploration programs are designed to evaluate the economic potential of the deposit and environs. It is uncertain if further exploration will result in the deposit being classified a mineral resource or reserve. However, the historical uranium resource estimate is relevant because: it is indicative of a mineralized zone worthy of follow-up exploration as it is based on drilling and surface exploration  carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. Historic estimates were originally classified as “indicated” and “inferred” reserves, plus a third “possible” category; however, the equivalent categories acceptable under NI 43-101 are not known at this time.

Certain disclosures in this release, including management’s assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Kivalliq Energy Corporation (TSX-V: KIV) ("Kivalliq" or the "Company") today announced that Lumina Capital Limited Partnership ("Lumina Capital"), an investment partnership held principally by Vancouver mining entrepreneur Ross Beaty, will subscribe for approximately $500,000 of a total $2,000,000 non brokered private placement in Kivalliq. The proceeds from this financing will be used to explore and develop Kivalliq’s high-grade Lac Cinquante uranium deposit, located within the Angilak Project in Nunavut, Canada, and for general working capital purposes.

The financing will consist of 10 million units (“Units”), at a price of $0.20 cents per Unit. Each Unit consists of one common share and one common share purchase warrant. Each share purchase warrant will entitle the holder to purchase one common share at a price of $0.35 for a period of two years. Upon the closing of the financing and if it were to exercise its warrants, Lumina Capital will own approximately 9.9% of the shares of the Company on a fully diluted basis. Directors and Officers of Kivalliq may participate in a portion of the financing. A finder’s fee may be paid on a portion of the financing. The financing is subject to regulatory approval and the shares will be subject to a four month resale restriction.

"We are very pleased to have Lumina Capital as a strategic investor as we strive to rapidly advance the Lac Cinquante uranium deposit,” said Kivalliq’s President & CEO, John Robins. “Lumina Capital’s team has consistently demonstrated an ability to identify resource projects with unrealized, yet significant, value at an early stage in the development cycle. We are excited that Lumina has recognized the unique opportunity offered by Kivalliq.”

Angilak Project, Nunavut, Canada

Covering 270,000 acres, the Angilak Project is Kivalliq’s core asset. A consolidation of multiple land positions in the 1970s and 1980s, and unexplored for over 25 years, the Angilak Project offers Kivalliq a unique opportunity to apply modern day exploration techniques and technology in a highly prospective terrain.

The Angilak Project is host to the historic, high-grade Lac Cinquante uranium deposit which is reported to contain 20.4 million pounds of uranium oxide with grades in excess of 1% U3O8 (not National Instrument 43-101 compliant)**.  Open at depth and along trend, the Lac Cinquante uranium deposit is near-surface and has been drilled to a depth of 265 metres.  The Angilak Project also boasts other high-grade uranium surface showings near the deposit and many geophysical signatures analogous to Lac Cinquante, suggesting high potential for the discovery of look-alike deposits on the property.

The technical information contained in this release has been prepared by Jeff Ward, Vice-President, Exploration, Kivalliq Energy Corporation and a Qualified Person as defined by National Instrument 43-101.

About Kivalliq Energy Corporation

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

This landmark partnership with the Inuit gives Kivalliq a unique opportunity to explore and develop the Lac Cinquante Deposit, northern Canada’s highest grade uranium deposit.

On behalf of the Board of Directors

“John Robins”

John Robins, P.Geo
President and CEO
Kivalliq Energy Corporation

For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at [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.

** The quoted disclosure of historical resource estimates for the Lac Cinquante Uranium Deposit was prepared by Aberford Resources Ltd in 1982, Abermin Corporation in 1986, and referenced by other subsequent sources.  It was prepared prior to the implementation of National Instrument 43-101 (NI 43-101) and should not be relied upon since it does not comply with NI 43-101 Standards of Disclosure for Mineral Projects. A Qualified Person has not classified the historical estimates as current mineral resources or reserves, and therefore, Kivalliq is not treating them as such. Kivalliq has not completed any work to verify these estimates, but ongoing exploration programs are designed to evaluate the economic potential of the deposit and environs. It is uncertain if further exploration will result in the deposit being classified a mineral resource or reserve. However, the historical uranium resource estimate is relevant because: it is indicative of a mineralized zone worthy of follow-up exploration as it is based on drilling and surface exploration  carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. Historic estimates were originally classified as “indicated” and “inferred” reserves, plus a third “possible” category; however, the equivalent categories acceptable under NI 43-101 are not known at this time.

Certain disclosures in this release, including management’s assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSX-V) (“Kivalliq” or “the Company”) today announced that, further to the Company's news release issued on August 7th, 2009, it has closed a non-brokered private placement (“Offering”) and has received approval by the TSX Venture Exchange.  Kivalliq issued 2,000,000 flow-through units, at a price of $0.25 per unit, to raise proceeds of $500,000 CDN.  Each unit consists of one flow-through common share and one-half of one transferable, non-flow-through common share purchase warrant.  Each full warrant entitles the holder to purchase one additional share of the Company, for a period of two years, at a price of $0.35 per share during the first year and $0.65 per share during the second year, expiring August 20, 2011, subject to acceleration clause whereby if the Company shares trade at $0.10 above the appropriate exercise price the Company may accelerate the expiry time to thirty calendar days from the date express written notice is provided by the Company to the holder.  Finder fees including compensation options were paid on the Offering.  Proceeds will be used to fund the first phase of the 2009 Exploration Program on the Angilak Project. 

All of the shares and any shares issued upon exercise of the units and the units comprising the compensation option are subject to a hold period and may not be traded in Canada until December 21, 2009, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com.  First Canadian Securities ® is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies.  MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.

About Kivalliq

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

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

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

 

On behalf of the Board of Directors

“John Robins”

John Robins, P.Geo
President and CEO
Kivalliq Energy Corporation

For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com or contact Tony Reda, Investor Relations, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at [email protected].

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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