Kiska Sells Mexican Projects

October 7, 2010

VANCOUVER, Oct 7 /PRNewswire-FirstCall/ – Kiska Metals Corporation (“Kiska” or the
“Company”) re ports that the Company has agreed to sell its Mexican
subsidiary, M inera Geoinformatica, to Evrim Metals Corporation
(“Evrim”). Minera Geoinformatica (“Minera”) holds all nine of Kiska’s
Mexican properties and a geological database for Mexico and parts of the
southern United States. Evrim will assume Kiska’s Mexican offices and
staff. In consideration, Evrim will issue two million shares to Kiska
plus ongoing performance-based share payments. Evrim has agreed to an
appointment of a Kiska representative to its Board of Directors.

“In keeping with our mandate of advancing the Whistler project, we are
selling our Mexican assets to Evrim,” stated Jason Weber, President and
CEO of Kiska. “The Evrim team has a solid exploration background and is
backed by an accomplished Board of Directors. We wish them every success
in their endeavours and the advancement of the Minera projects.”

In addition to the initial two million share payment, Kiska will receive
on a yearly basis, share payments of 10,000 or 50,000 shares per
property, depending on the status of the property, for a period of five
years. Kiska is also entitled to additional share and cash payments for
certain milestones relating to each of the nine properties Minera
currently holds. Similar payments are also required if Evrim acquires
any property out of the database included in the Minera sale. Kiska will
also receive a 1,000,000 share payment for every property that is
advanced to a positive production decision.

About Evrim Metals Corp.
Evrim Metals Corp. is a private
exploration company that is in the process of applying for a public
listing on the TSX Venture Exchange. The company’s business plan is to
create shareholder value by generating exploration projects that it will
advance through option and joint venture agreements with industry
partners. The properties acquired from Kiska will form a solid
foundation for Evrim’s execution of the joint venture business model,
which will be augmented by a pipeline of internally generated projects.

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 world’s largest and most successful gold and
base metal producers.

On behalf of Kiska Metals Corporation

“Jason Weber”

Jason Weber, P.Geo., President & CEO

CAUTIONARY STATEMENT: No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
contained herein. This News Release includes certain “forward-looking
statements”. Other than statements of historical fact, all statements
included in this release, including, without limitation, statements
regarding future plans and objectives of Kiska Metals Corporation, are
forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially
from those anticipated in such statements. Important factors that could
cause actual results to differ materially from Kiska’s expectations are
the risks detailed herein and from time to time in the filings made by
Kiska Metals Corporation with securities regulators. Those filings can
be found on the Internet at http://www.sedar.com
and http://www.sec.gov/edgar.

SOURCE Kiska Metals Corporation

Source: newswire

comments powered by Disqus