Kiska Metals Corporation

First Option Taken on the Kliyul Project, BC

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 9, 2014) - Kiska Metals Corporation (TSX VENTURE:KSK) ("Kiska" or the "Company") reports that, further to the news release dated October 1, 2013, Teck Resources Limited ("Teck") has elected to take up an option to earn a 51% interest in the Kliyul Project (the "Property") in north-central British Columbia (the "First Option"). Teck had until January 31, 2014 to make such an election.

Under the First Option, Teck can earn a 51% interest in the Property by incurring a cumulative aggregate of $5.5 million in exploration expenditures on the Property on or before January 31, 2018. Should Teck exercise the First Option, Teck may elect to acquire an additional 14% interest in the Property, for a total interest of 65%, by incurring an additional $6.5 million in exploration expenditures (for a total of $12.0 million) on the Property on or before the third anniversary of the exercise of Teck's First Option.

Kliyul is a gold-copper porphyry project located 67 kilometres southeast of the shuttered Kemess Mine and lies adjacent to the Kemess Mine access road and power line. The Company owns a 100% interest in the 6,537 hectare property subject to a 1.5% NSR. The main area of interest on the property is the "Kliyul Zone", an 800 by 800 m magnetic high anomaly tested by 21, mostly shallow (less than 125m below surface) drill holes completed prior to 1995. This shallow drilling returned significant copper-gold intercepts in a magnetite breccia, including 76.4 metres of 1.16 g/t Au and 0.33% Cu from 55.95 metres (KL-8). It should be noted that this intercept is from a historical drill hole (pre-1995) for which the original assay certificates and sampling protocols cannot be confirmed. The most recent drilling at Kliyul, in 2006, yielded encouraging copper and gold intersections from two deeper holes. In KL06-30, a 217.8 metre intersection averaged 0.23% copper and 0.52 g/t gold. KL06-31 returned a number of intervals of similar tenor highlighted by 24 metres of 0.20% copper and 0.44 g/t gold, 32 metres of 0.21% copper and 0.62 g/t gold and 20 metres of 0.14% copper and 1.21 g/t gold. These were the first deep drill holes drilled on the property and both ended in mineralization. To view figures of Kliyul please click on the following link: http://www.kiskametals.com/i/maps/kliyul/2014-01-06_Kliyul_Maps.pdf.