Uranium

Kivalliq Energy Corp. (TSXV:KIV) has entered into an agreement with Dundee Securities Ltd. on behalf of a consolidation of Underwriters including Versant Partners Inc., Canaccord Genuity Corp. and National Bank Financial Inc., under which the Underwriters have agreed to purchase, on a bought deal private placement basis, 13,000,000 flow-through common shares at a price per Flow-Through Share of $0.50 and 7,780,000 common shares at a price per Common Share of $0.45 for total gross proceeds of $10,001,000.

Kivalliq Energy Corporation (TSXV:KIV) closed the non-brokered private placement financing previously announced on January 30, 2012.

Results from the Angilak Property 2011 summer prospecting program, as announced by Kivalliq Energy Corporation (TSXV:KIV), demonstrated polymetallic potential.

Assay results from 1,732 metres of diamond drilling in 14 holes conducted in 2011 at the Blaze/Spark, Pulse and Joule Zones were announced by Kivalliq Energy Corporation (TSXV:KIV). These zones are all located within a 3.0 kilometre radius of the high grade Lac Cinquante uranium deposit, within the 225,000 acre Angilak Property in Nunavut, Canada.