KAI Kenai Resources Ltd.

Kenai Resources Ltd. ("Kenai") (TSX VENTURE:KAI) is pleased to advise the
commencement of core drilling operations at the Sao Chico gold project in the
Tapajos gold belt region of north central Brazil, pursuant to a 3,000 metre core
drilling contract dated August 23rd, 2011 with Minexplor Servicos e Consultaria
Mineral Ltda., Rio de Janeiro State, Brazil.


The objective of the drilling is to demonstrate high grade gold mineralization
along strike, down-dip and laterally on quartz sulphide hard rock veins at Sao
Chico. Kenai has already completed a channel sampling program that identified
areas of high grade gold mineralization in an existing underground drive.


The results from underground sampling are shown in the appended plan map
prepared by Kenai's NI 43-101 Technical Report authors, Exploration Alliance
Ltd. ("EAL"). The high grade gold intercepts have since been verified by
external laboratory check assaying showing a high degree of assay repeatability.
Repeat assays for the eight highest grade samples averaged 99.93 grams per tonne
("g/t") gold, or 100.2% of the original 99.69 g/t average assays for the same
eight samples. 


The gold mineralization occurs in quartz veins hosted in granodiorite. At a
vertical depth of 18 meters below the surface, 37 assay sample results from 13
sample sections were collected over a distance of 58 meters with a sample line
approximately every 5 meters from west to east. The average grade and width is
17.7 g/t gold across 1.95 meters of the underground drive. As seen from the
attached plan, these values take in all of the sampled country rock in the drive
in addition to the high grade quartz vein and massive sulphide mineralization
breccias zones. The following table shows assay results in grams per tonne for
13 sections and up to three 1 meter samples per section:




                     One meter channel sample intervals             
                                                                    
        Channel Sample                                              
        Interval           Result grade in g/t per one meter section
        #                          g/t            g/t            g/t
        ------------------------------------------------------------
        1a                     235.900        254.500          3.518
        1b                       2.128          0.430          0.198
        2                        0.333          7.390          1.060
        3                       20.390         49.340               
        4                       20.680          0.437               
        5                        1.026         16.780               
        6                        4.223         12.760          2.811
        7                        1.132        107.600          0.377
        8                       10.790          0.313               
        9                        0.736          6.480          0.379
        10                       0.224          1.562         35.030
        11                       0.453         74.120          0.266
        12                       0.038          0.177               
        13                       0.191          0.056          0.016



Outline of Current Sao Chico Drilling Program 



--  A core drill rig is currently mobilizing to site. The drilling program
    includes NQ and HQ diameter core drilling of 25 to 30 holes with an
    average downhole depth of about 110 meters; provision for later wide
    diameter PQ core drilling for metallurgical testwork samples. 
    
    
--  Program to test east-west interpreted strike length of quartz/sulphide
    vein structures of 800 meters, and about 300 meters north-south of sub-
    parallel interpreted vein structures. 
    
    
--  3 or 4 holes to be targeted to test continuity of mineralization to a
    vertical depth of 200 meters, subject to geological interpretation from
    early drill hole data. 
    
    
--  Duration of program of about 4 months, with initial interpretations
    based on drillhole assay results likely to be possible from the second
    half of October. 
    
    
--  Overall program designed to NI 43-101 standards.  



About Kenai Resources:

Kenai is a Canadian company focused on precious mineral project exploration and
development, towards early significant gold production. In addition to the Sao
Chico gold project in Brazil, Sao Chico is located within the Tapajos region in
Brazil, the site of one of the biggest gold rushes in recent history. Despite
the gold rush, little modern exploration has been conducted over the region to
date. The Sao Chico project team has extensive experience and expertise of
operating within the region, which will provide a focussed and systematic effort
to gold production and exploration at Sao Chico.


Kenai has the wholly-owned Quartz Mountain and Hope Butte epithermal gold
projects in South-Eastern Oregon, both located in Malheur County, close to the
Oregon border with Idaho. Kenai's current indicated and historical gold
resources from the two Oregon projects: Quartz Mountain 15,050,200 tonnes at
0.80 g/t Au containing 352,667 ounces gold Indicated Resources (NI 43-101
compliant); and, Hope Butte: 5,000,000 tonnes at 0.91 g/t Au containing 146,300
ounces (Historical estimate, a qualified person has not done sufficient work to
classify the historical estimate as current mineral resources, the issuer is not
treating the historical estimate as current mineral resources and the historical
estimate should not be relied upon.)


On behalf of the Board of Directors of Kenai Resources Ltd.

Greg Starr, President and CEO

To view the map associated with this Press Release, please visit:
http://media3.marketwire.com/docs/kai-0831-map1.pdf.


Forward-Looking Statements: Statements in this release that are forward-looking
statements are subject to various risks and uncertainties concerning the
specific factors disclosed and elsewhere in the company's periodic filings with
Canadian securities regulators. The economic viabilities of the resources
estimates discussed in the release have not been established and may not be.
Such information contained herein represents management's best judgment as of
the date hereof based on information currently available. The company does not
assume the obligation to update any forward-looking statement.


The technical content of this news release has been reviewed by Kenai's Vice
President Technical Services, Neil Cole, who has sufficient experience which is
relevant to the style of mineralization under consideration and to the activity
which is being undertaken and planned to qualify as a Qualified Person under NI
43-101. EAL has consented to the references to its work contained in this News
Release.


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