BWR+ Kaminak News

Kaminak Commences Airborne Geophysical Surveys on Quebec Nickel Properties

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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2008) - Kaminak Gold Corporation (TSX VENTURE:KAM) has commenced high-definition airborne geophysical surveys over priority nickel-copper-platinum group element (PGE) targets in Quebec, Canada. Kaminak intends to survey a total of 4,050 line kilometres over five separate properties. This program is being funded solely by Kaminak's joint venture partner Breakwater Resources Ltd. (TSX:BWR).


Aeroquest International Limited will complete the surveys using their AeroTem II electromagnetic helicopter-borne system. This high-definition time-domain system is designed to identify conductive bodies, including nickel sulphide deposits to a depth of 250 metres in electrically resistive environments. All interesting anomalies will be followed-up by detailed ground geophysical surveys in the spring of 2008 in order to prioritize diamond drill targets.


Initial field work on the properties by Kaminak's technical team in 2007 identified mafic ultramafic rocks exhibiting magmatic sulphide segregation. A total of 12 grab samples were collected for geochemical analyses and the program's most significant assay result came from a surface outcrop sample that yielded anomalous values of nickel, copper, cobalt as well as PGE's and gold (Sample# CFP-605; 0.53% Ni, 2.84% Cu, 0.12% Co as well as 0.75 g/t Au, 0.35 g/t Pt and 0.55 g/t Pd). Additionally, nine of the eleven remaining grab samples each assayed greater than 0.1% Ni and greater than 0.1% Cu. Collectively, these are important indicators of process and suggest a favourable environment for the formation of nickel-copper-PGE deposits.


Kaminak - Breakwater Agreement


In the spring of 2007, Kaminak and Breakwater entered into a strategic alliance targeting primarily nickel-copper-PGE deposits over parts of southern Quebec. Kaminak's in-house technical team generated several priority targets which resulted in the staking of five separate properties which became subject to a joint venture agreement between Kaminak and Breakwater. As part of this joint venture agreement, Breakwater is funding the first $1 million of exploration costs in exchange for a 51% interest in the project. Breakwater can increase its interest to 60% by funding the next $2 million in exploration across all joint venture blocks (see Kaminak news release dated September 10th, 2007 for further details of the joint venture agreement).


ALS Chemex Analytical Technique


A total of 12 grab samples were collected and shipped to ALS Chemex for geochemical analyses. Rock samples are weighed, dried and finely crushed with a split of up to 250 g pulverized. The prepared sample is subjected to four acid digestion (0.4g is digested with nitric, perchloric, and hydrofluoric acids with hydrochloric acid subsequently added for further digestion. This solution is analyzed by inductively coupled plasma - atomic emission spectrometry. Results are corrected for spectral inter element interferences. QA/QC consists of the insertion of one method blank, two standards and one duplicate sample. Gold and PGE's were analysed by fire assay with an ICP-MS finish.


Kaminak's disclosure of a technical or scientific nature is prepared under the supervision of Rob Carpenter, Ph. D., P.Geo., Kaminak's President and CEO. Craig Finnigan, Ph. D., P.Geo. is Kaminak's Chief Geologist and is the Qualified Person under the definition of National Instrument 43-101.


About Kaminak


Kaminak Gold Corporation is a prospect generator employing a joint venture strategy that maximizes opportunities for discovery while attempting to minimize exploration risk to Kaminak. A critical component of Kaminak's business model is working with strong project partners to advance Kaminak's exploration projects. Covering several million acres, Kaminak holds one of the largest land positions in Canada devoted to metallic mineral exploration. Kaminak's projects offer world-class exploration potential and present exposure to strategic commodities including, gold, uranium and nickel.


On behalf of the Board of Directors


Rob Carpenter, Ph. D., P. Geo., President and CEO


Kaminak Gold Corporation

Petrolifera confirms activation of Puesto Morales North waterflood

Petrolifera confirms activation of Puesto Morales North waterflood; Provides salient details

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CALGARY, Jan. 15 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) confirmed today that its waterflood pressure maintenance project at Puesto Morales North in the Neuquen Basin, Rio Negro Province, onshore Argentina commenced continuous operations on January 11, 2008, following a period of commissioning and line testing which started in late December, 2007.


The purpose of the project is to enhance reservoir pressure in the prolific and high quality Jurassic Sierras Blancas oil-bearing reservoir at Puesto Morales. It is anticipated that there will be a period of approximately six months of water injection before meaningful response will be discernible in overall crude oil production levels and that it will take approximately eighteen months from startup of injection to achieve optimum production response, based on initial simulation studies of the reservoir. The high quality reservoir, characterized by excellent porosities and significant measured permeability, should facilitate excellent transmissibility of fluid and the project is expected to have a material and favorable impact on the ultimate recovery factor for the field.


The first injection stage in the Sierras Blancas formation will occur in 2008 and is expected to reach a total water injection rate of 18,000 barrels of water per day with approximately thirteen injector wells, including new wells and conversions. Future waterflood developments and optimizations will increase the injection rate to the capacity of 25,000 barrels of water per day.


The water injection plant is now operating with initial injection of approximately 5,000 barrels of water per day in four wells, PMN-1025, PMN-1011 and PMN-1037 in the northern part of the field and PMN-1035 in the central portion of the field. Over time, additional injectors will be tied back to the plant to realize the final injection rate of approximately 25,000 barrels of water per day. Fresh water is supplied to Petrolifera's water treatment plant, situated in the northern portion of the field, through a six kilometer ten-inch pipeline from facilities situated near the Casa de Piedra dam on the Rio Colorado River, resulting in the reservoir or embalse in the region.


Petrolifera's Puesto Morales water treatment plant filters the water with a targeted efficiency exceeding 90 percent on particle sizes exceeding five microns. Also, a target of 90 percent efficiency in oxygen removal is anticipated.


The activation of the water injection plant is a significant milestone for Petrolifera. It was constructed against a backdrop of energy and equipment shortages in Argentina and its completion is a credit to the company's operational staff and external advisors and consultants. More importantly, it is anticipated the waterflood will consequentially impact on Petrolifera's light crude oil production in Argentina during 2008 and beyond.