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To: Goose94 who wrote (14703)	5/4/2016 8:34:45 AM
From: Goose94	Read Replies (1) \| Respond to of 203020

Kapuskasing Gold (KAP-V) May 4th 2016 is pleased to announce the signing of a memorandum of understanding with Flying Post and Mattagami First Nations with respect to KAP’s recently acquired West Keefer Property located in Northern Ontario, near the town of Timmins. The MOU establishes the desire for First Nations and KAP to work together, creating a long-term, mutually beneficial, cooperative and respectful relationship with the spirit of social, ecological, cultural and economic well-being. The MOU also signals a commitment by KAP to identify opportunities for businesses and citizens of the First Nations communities to participate in KAP's exploration activities through business, employment and training opportunities. In addition, the Company has granted 50,000 common shares (the “Shares”) and 50,000 share purchase warrants (the “Warrants”) of the Company to Mattagami First Nation. Each Warrant will be exercisable into one Share at $0.055 for a period of 5 years. The Warrants will vest 25% on the approval of the TSX Venture Exchange and 25% after six months, 12 months and 18 months respectively from the effective date of the MOU. Flying Post First Nation is not receiving shares and warrants for the signing of this MOU, as it received 50,000 shares and 50,000 warrants as signatory to a Memorandum of Understanding with KAP for the Borden North, Borden South, Golden Route, Rollo, Schewabik, and West Chapleau Projects. New Director & Officer Appointment The Company also announces the resignation of Andrew Davidson as Chief Financial Officer (“CFO”) and the appointment of Mr. James (Jim) Fairbairn as a director and as Chief Financial Officer of the Company. Mr. Fairbairn is a finance professional with over 25 years of experience in corporate governance, leadership, mergers and acquisitions, corporate finance, financial management and financial and management reporting. He is a Chartered Accountant who brings strong financial skills and who has served as a senior officer and/or a director in both public and privately - held companies. Mr. Davidson will continue to serve as a director for Kapuskasing Gold Corp. About the Company Kapuskasing Gold has 7 gold properties located along extensions of the Destor-Porcupine or Borden Gold project. All of the properties, with the exception of Rollo and West Keefer, are situated within the Kapuskasing structural zones and have potential similarities to Goldcorp's Borden Gold project. A detailed map and property descriptions can be viewed on the Company's website: www.kapgold.com. On behalf of the Board of Directors Kapuskasing Gold Corp. Jonathan Armes President & CEO Phone 1 (416) 708-0243 kapuskasinggold.com