Kivalliq Energy Corporation: Highly Radioactive J4 Zone Discovered; Ray Zone Strike Length Extended to 310 Metres

Kivalliq Energy Corporation ("Kivalliq") (TSX VENTURE:KIV) today reports both
the discovery of a highly-radioactive new zone, "J4", located 2.3 kilometres
southeast of its high-grade Lac Cinquante uranium deposit, and the extension of
the strike length of the recently-discovered Ray Zone to 310 metres. These
results are from the on-going, $20 million exploration program at Kivalliq's
252,830 acre Angilak Property in Nunavut Territory, Canada. Exploration has
focussed on evaluating linear electromagnetic ("EM") conductors occurring within
2.5 kilometres of the Lac Cinquante deposit by exploratory diamond drilling in
2012. Assay results will be released when available.


Key Point Summary



--  The newly discovered J4 Zone is 300 metres to the north of, and runs
    parallel to the recently discovered Ray Zone. J4 Zone is associated with
    a one kilometre long EM conductor located 2.3 kilometres east of the Lac
    Cinquante resource area. 
    
--  J4 Zone diamond drilling has intersected significant radioactivity in
    six of six holes over a strike length of 50 metres, with the deepest
    intercept at 183 vertical metres. The J4 Zone remains open along strike
    and to depth. 
    
--  Five of six new core holes at the Ray Zone have intersected
    radioactivity associated with a subtle EM conductor; eight of nine holes
    at Ray have intersected radioactivity over 310 metres strike length. Ray
    is situated two kilometres along strike and southeast of the Lac
    Cinquante resource area. 



"This marks the fourth new zone discovered within 2.5 kilometres of the Lac
Cinquante deposit so far this season," stated Jeff Ward, President. "Our
targeting techniques continue to demonstrate the tremendous mineral potential of
the Angilak Property, and specifically the area surrounding the high-grade Lac
Cinquante resource."


Ongoing exploration drilling in 2012 will continue to investigate multiple
uranium targets generated on previous programs. Kivalliq expects to drill 26,000
metres of NQ core on advanced targets using three diamond drill rigs and 9,000
metres of reverse circulation drilling ("RC") designed to prioritise exploration
targets. Extensive ground based geophysical surveying, prospecting, and soil
sampling campaigns are also planned for 2012.


Exploration progress in 2012 to date includes:



--  92 diamond drill holes totalling 17,043 metres focussed on linear
    geophysical targets, radioactive zones identified by RC drilling, and
    deep drilling at Lac Cinquante 
    
--  24 RC holes totalling 3,807 metres prioritising areas for follow-up
    diamond drilling 
    
--  445 line kilometres of ground geophysical surveying 



J4 Zone Discovery

Highly radioactive mineralization has been intersected in six holes drilled from
two drill sites along 50 metres of strike length at the J4 Zone. J4 is a one
kilometre long EM conductor located roughly 2.3 kilometres east of Lac Cinquante
mineralization and about 300 metres north of the Ray Zone (see June 25, 2012
news release). 


J4 hosts two sub-parallel mineralized horizons, 20 metres to 25 metres apart,
referred to as the J4 Upper Zone and the J4 Lower Zone. The J4 Upper Zone has
been intersected at depths between 49 and 123 vertical metres. The J4 Lower Zone
has been intersected between 63 metres and 183 metres vertical depth.
Radioactivity at J4 is hosted in narrow carbonate veins in sheared sulphidic
graphitic tuff within a larger sequence of basalt and gabbro. Radioactive
readings between 170 and a peak of 31,500 counts per second ("cps") were
measured over down hole intervals up to 1.5 metres in the J4 Upper Zone.
Radioactive readings between 170 and a peak of 27,000 cps were measured over 0.3
metre intervals in the J4 Lower Zone.


Ray Zone 

Five additional radioactive intervals have been drilled at Ray since the news
release of June 25, 2012. The Ray Zone is a subtle EM conductor two kilometres
along strike and southeast of Lac Cinquante's Eastern Extension. Radioactive
mineralization has been intersected in eight of nine holes from three drill
sites along 310 metres of strike length. One hole was lost while collaring.
Anomalous radioactivity has been intersected between vertical depths of 41
metres and 146 metres. Radioactivity ranges from 200 to 8460 cps in down hole
core intervals of up to 1.5 metres. Mineralization at Ray Zone occurs in a
narrow sulphidic, graphitic tuff horizon, similar to mineralization at Lac
Cinquante. 


All holes in target areas were drilled northeast with azimuths of 26 degrees at
inclinations between -45 and -90 degrees. For maps and drill plan images, please
visit www.kivalliqenergy.com/projects/angilak/program_images.


QA/QC

Half-spilt core samples from holes drilled at the Angilak Property, with
anomalous radioactivity levels between 170 and 31,500 cps measured to date, have
been sent to Saskatchewan Research Council Geoanalytical Laboratories ("SRC")
for analysis. The SRC facility operates in accordance with ISO/IEC 17025:2005
(CAN-P-4E), General Requirements for the Competence of Mineral Testing and
Calibration laboratories and is accredited by the Standards Council of Canada.
Kivalliq's quality assurance and quality control procedures include the
systematic insertion of blanks and standards into the drill core sample string.
Chemical assay results from this drill program will be reported by Kivalliq upon
receipt.


Natural gamma radiation in drill core was measured in cps using a hand-held
Radiation Solutions Inc. RS-121 scintillometer or RS-230 spectrometer. Kivalliq
cautions that scintillometer readings are not directly related to uranium grade
and are only used to indicate zones of radioactive material.


Jeff Ward, P.Geo. and President of Kivalliq has reviewed and approved the
scientific and technical information contained in this news release and is the
Qualified Person as defined under National Instrument 43-101 for this news
release.


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 to explore for
uranium on Inuit Owned Lands in Nunavut.


Kivalliq's 252,830 acre Angilak Property hosts the high-grade Lac Cinquante
deposit, along with multiple highly-mineralized target areas. With a NI 43-101
Inferred Mineral Resource of 1,779,000 tonnes grading 0.69% U3O8, totalling
27.13 million pounds U3O8, (15.2 pounds U3O8/tonne) at a 0.2% U3O8 cut-off
grade, the Lac Cinquante Deposit is Canada's highest grade uranium deposit
outside of the Athabasca Basin. 


Since acquiring the Angilak Property in 2008, Kivalliq has invested
approximately $30 million conducting systematic exploration, including ground
and airborne geophysics, geological mapping, prospecting and approximately
48,000 metres of RC and diamond drilling. 


On behalf of the Board of Directors

James R. Paterson, CEO 

Kivalliq Energy Corporation 

For further information about Kivalliq Energy Corporation or this news release,
please visit our website at www.kivalliqenergy.com.


Kivalliq Energy Corporation is a member of the Aurora Resource Group of
companies. For more information please visit www.auroraresource.com.


Certain disclosures in this release, including management's, intentions with
respect to use of proceeds, the 2012 Angilak exploration program 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 market price of the Company's securities and
the market for securities of resource exploration companies in general;
commodity prices and, in particular, the price of uranium and the completion of
the Company's plans and projects. Readers are cautioned not to place undue
reliance on forward-looking statements. Other than as required by applicable
securities legislation, 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.
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