Kiska Metals Corporation

First Option Taken on the Kliyul Project, BC - Seite 2

In the autumn of 2013, Kiska completed an exploration program totaling approximately $500,000, funded under a loan arrangement with Teck, comprising surface geophysics, property scale geological mapping, and core re-logging in the Kliyul Zone. With Teck electing to take up the First Option, these expenditures under the loan are now considered expenditures under the First Option and the loan is forgiven. The 2013 geophysics survey consisted of 25.4 line kilometres of pole-dipole induced polarization ("IP") and ground magnetics surveys extending 2.5 by 2.2 kilometres west of a previous survey conducted in 2011 over the main Kliyul Zone. This survey merged with previous data provides a 5 by 3 kilometre area of induced polarization and magnetics coverage over the Kliyul Zone and peripheral target areas. Property-scale geological mapping was conducted in the survey area to provide geological context to the geophysical results and historical surface geochemical anomalies. This work identified a 2.8 kilometre long IP chargeability high anomaly which is centred on the Kliyul Zone and coincident with mapped phyllic alteration. Mapped phyllic alteration continues a further 3 km to the southeast, in the Bap Ridge target area, but the IP survey planned for this area was curtailed due to inclement weather. The geophysical survey and surface work also identified new targets, the Ginger and Shadow zones, located 1.5 kilometres to the northwest and west, respectively, of the Kliyul Zone. These new, untested prospects are defined by surficial copper geochemical anomalies coincident with moderate magnetic high anomalies within the larger IP chargeability high anomaly, features similar to the Kliyul Zone.

The re-logging of drill core from the Kliyul Zone helped to develop a better understanding of the timing relationships between intrusive suites, alteration, veining, and copper-gold mineralization. Gold and copper mineralization in the Kliyul Zone appears to be associated with multiple phases of magnetite breccia and quartz-chalcopyrite veining within and adjacent to diorite porphyry intrusive rocks. This work will form the basis for future drilling.

"The drill core re-logging completed in the autumn program at the Kliyul Zone finally allowed us to merge the historical and 2006 drill results into a set of geologically consistent cross-sections. These observations and sections show an intensity and continuity in alteration and mineralization that is characteristic of a porphyry system," states Mike Roberts, P.Geo., Vice President, Exploration, "and show that the system is wide-open for future drill testing. In addition, the definition of new targets at the Ginger and Shadow zones, and the presence of a large area of mapped phyllic alteration at Bap Ridge is encouraging for future exploration elsewhere on the property."