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"Currently, Kiska has a 5.8 Moz. gold-equivalent resource at the Whistler Project. A resource update at Whistler is expected in November; we estimate that it will grow to 7.9 Moz. gold equivalent in the short term. Given the recent discoveries on the property, we believe there is a strong potential opportunity for Kiska to significantly increase its resource inventory at Whistler over the next 12-24 months.

We are initiating coverage of Kiska Metals Corporation with a target price of $2.30 and a Speculative Buy rating. Our target price is based on a 1x multiple of our NAV estimate for Kiska, which is largely driven by the estimated resource inventory. With Kiska now in full control of Whistler we are confident in managements ability to advance the project through the addition of significant resources to this new porphyry district in Alaska."

- Brian Mok, Union Securities

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About Kiska Metals Corporation

Kiska Metals Corporation is a mineral exploration company focused on advancing the Whistler Project, Alaska, which includes a multi-million ounce gold-copper resource and excellent exploration potential. Kiska has renowned technical expertise and a quality exploration portfolio with numerous early stage exploration opportunities around the world, some held in partnership with a selection of the worlds largest and most successful gold and base metal producers. Kiska resulted from the merger of Rimfire Minerals Corporation and Geoinformatics Exploration in August 2009.

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