Kiska Completes Purchase of 100% Interest in Prospective Copper-Gold Project in BC (Chuchi Project)

VANCOUVER, BC--(Marketwired - January 18, 2016) - Kiska Metals Corporation ("Kiska" or the "Company") (TSX VENTURE: KSK) is pleased to announce that it has completed the purchase of a 100% interest in the Chuchi Property, subject to an underlying royalty agreement.

Kiska elected to accelerate the delivery of the payment to complete the purchase, and has issued the remaining 800,000 Kiska shares due to PUF Ventures (formerly Chlormet Technologies Inc.) (refer to news releases dated September 8^th, 2014 and January 16^th, 2015).

Project Highlights:

The road-accessible Chuchi Property hosts a copper-gold porphyry system in a prospective region of the Quesnel porphyry belt in north-central British Columbia, and is located 32 km to the northwest of the Mt. Milligan copper-gold mine. The core of the property overlies a 12 km² alteration zone centered on a cluster of porphyritic monzonite stocks hosted by volcanic and sedimentary rocks. Drilling campaigns from 1989 to 1991 targeted coincident Cu-Au soil geochemical anomalies and Induced Polarization ("IP") chargeability high anomalies within this alteration zone, for a total of 13,030 metres from 79 drillholes. Drilling returned significant intervals of copper-gold mineralization and higher grade, gold-only mineralization over a 1.5 km by 1.5 km area referred to as the BP Zone, including:

• 100.0 metres grading 0.27% Cu and 0.37 g/t Au (from 38.0 m downhole), including 16.0 metres grading 0.71% Cu and 1.32 g/t Au (from 82.0 m downhole), in hole 89-07
• 194.0 metres grading 0.21% Cu and 0.21 g/t Au (from 32.0 m downhole), including 70.0 metres grading 0.31% Cu and 0.34 g/t Au (from 156.0 m downhole), in hole 90-27
• 54.6 metres grading 2.03 g/t Au and 0.09% Cu (from 91.4 m downhole), including 32.6 metres grading 3.38 g/t Au and 0.07% Cu (from 91.4 metres), in hole 91-42

Recent geological and geophysical work by Kiska indicates that: 1) there remains considerable room for expansion of known zones of mineralization at surface and to depth, 2) the potentially higher grade core of the BP Zone has yet to be drilled, and 3) potentially new zones of mineralization have been identified under shallow post-mineral cover (see news release dated December 3^rd, 2015). This work has identified compelling new drill targets, and Kiska is currently seeking a partner to further advance the project.