Kiska Drills 106.9 Metres of 1.22 g/t Gold at Island Mountain Area, Whistler, Alaska

VANCOUVER, BRITISH COLUMBIA, Nov 02 (MARKET WIRE) --
Kiska Metals Corporation (TSX VENTURE: KSK) ("Kiska") is pleased to
announce the discovery of a new mineralized zone at the Island Mountain
target, located approximately 23 kilometres south of the Whistler deposit
resource area. The first of five holes completed in the 2009 drilling
program returned 0.68 g/t gold over 382.9 metres. The hole returned an
upper interval, 150.0 metres in drilled length that averaged 0.72 g/t
gold and a lower 106.9 metre intersection from 280.0 metres to the end of
the hole that averaged 1.22 g/t gold. Copper results are pending and will
be announced when received. Island Mountain represents a porphyry target
distinct from the Whistler deposit which hosts a NI43-101 compliant
indicated resource of 1.31 million ounces gold-equivalent and an inferred
resource of 4.44 million ounces gold-equivalent (see Appendix 1 for
details).

"This discovery at Island Mountain on our first hole of the program is
extremely encouraging," stated Jason Weber, President and CEO of Kiska.
"Gold grades appear to be getting stronger at depth, with the hole ending
in some the strongest gold mineralization encountered. This suggests that
there is excellent potential to expand upon these results both at depth
and laterally. The 2009-2010 program at the Whistler project is designed
to test targets distal to the existing Whistler resource to assess the
overall potential of the greater Whistler project area."

Island Mountain consists of Whistler-equivalent intrusive rocks,
anomalous copper and gold rock and soil geochemistry and associated
gossans covering a 2.5 by 4.0 kilometre area. The discovery hole targeted
a 150 metre diameter exposure of hydrothermal breccia at the southern end
of Island Mountain where surface rock samples have returned values up to
1.19 g/t gold, 5.2 g/t silver and 0.2% copper. Similar gold and copper
bearing breccias are noted 600 metres northeast and 500 metres southeast
of the discovery hole, and reconnaissance soil sampling extending 1.6
kilometres to the northeast from this hole are strongly anomalous in
copper and gold. Hole IM09-001 intersected two gold bearing zones. The
upper zone (150.0 metres averaging 0.72 g/t gold), corresponding to the
breccia targeted on surface, consists of an actinolite-magnetite
hydrothermal breccia with pyrrhotite (greater than) pyrite (greater than)
chalcopyrite. The lower gold-bearing zone (106.9 metres averaging 1.22
g/t gold), from 280.0 to the 386.9 metres (end of hole) consists of
pyrrhotite veins and vein halos of net textured pyrrhotite surrounding
veins. A second Island Mountain hole (IM09-002) was completed 1.7
kilometres to the north of the first hole, returning 0.13 g/t gold over
202.3. Although anomalous in gold over its entire length, the hole was
lost due to technical reasons prior to reaching target depth.

Island Mountain Diamond Drilling
------------------------------------------------------------
IM09-001: Azimuth 085, Dip -50, Total Depth 386.9 m
------------------------------------------------------------
From (m) To (m) Length (m) Gold (g/t)
------------------------------------------------------------
4.0 386.9(i) 382.9 0.68
Including 44.0 194.0 150.0 0.72
and 280.0 386.9(i) 106.9 1.22
------------------------------------------------------------
IM09-002: Azimuth 135, Dip -60, Total Depth 214.3 m
------------------------------------------------------------
11.9 214.3 202.4(i) 0.13
------------------------------------------------------------
(i) End of Hole

A total of five holes were completed in the current program. The three
remaining holes, for which any assay results have yet to be received,
targeted the Lightning, Digger and Raintree West targets, all of which
are in the Whistler Corridor (see Kiska website for a plan map outlining
the location of these holes). A 2008 hole at Raintree West, located 1.5
kilometres east of the Whistler Deposit, returned 160 metres averaging
0.59g/t gold, 6.02g/t silver, 0.10% copper. Results from the remaining
three holes will be released when results are received.

A further 15 holes are planned to test regional targets in the Whistler
corridor as part of a spring 2010 program. These holes will be targeted
on the basis of an Induced Polarization ("IP") geophysical survey (in
progress) as well as geological mapping, geochemistry and previously
collected airborne magnetic data. Follow up holes at Island Mountain will
be completed as soon as weather permits in the spring of 2010.

Induced Polarization Survey Update

Kiska is currently completing a large 3D and 2D IP survey of up to 340
line kilometers. The 2D portion of the survey was finished in September
whereas the 3D survey is approximately 70% complete with the finish date
estimated to be in the first week of December. IP geophysics is an
electrical geophysical technique well suited in detecting sub-surface
sulphide minerals such as copper-bearing chalcopyrite - a mineral closely
associated with gold on the property.

About Kiska Metals Corp.

Kiska Metals Corporation is a mineral exploration company with renowned
technical expertise and sizable exploration portfolio containing the
multi-million ounce Whistler gold deposit, numerous exciting early stage
exploration opportunities around the world and partnerships with some of
the world's largest and most successful gold and base metal producers.
Kiska resulted from the merger of Rimfire Minerals Corporation and
Geoinformatics Exploration in August 2009.

Qualified Person Statement

The content of this release has been reviewed and approved by Mark Baknes
P. Geo., Vice President of Exploration of Kiska Metals Corporation. Mr.
Baknes is a Qualified Person as defined under the terms of National
Instrument 43-101. All drill core samples are analysed at Alaska Assay
Laboratories in Fairbanks, Alaska.

On behalf of Kiska Metals Corporation

Jason Weber, P.Geo., President & CEO

CAUTIONARY STATEMENT: 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.

APPENDIX 1.
Mineral Resource Statement for the Whistler Gold Deposit, Alaska
Prepared by SRK Consulting (Canada) Inc. February 2008.
--------------------------------------------------------------------------
Tonnes and Grades Total Contained Metal
------------------------------- --------------------------
Tonn- Sil- Cop- Gold Sil- Cop- Gold
Resource age Gold ver per Eq(3) Gold ver per Eq(3)
Category (Mt) (g/t) (g/t) (%) g/t (Moz) (Moz) (Mlb) (Moz)
--------------------------------------------------------------------------
Indicated
(open-pit(1)) 30 0.87 2.46 0.24 1.35 0.84 2.37 159 1.31
--------------------------------------------------------------------------
Total
Indicated 30 0.87 2.46 0.24 1.35 0.84 2.37 159 1.31
--------------------------------------------------------------------------
Inferred
(open-pit(1)) 123 0.59 2.07 0.19 0.98 2.33 8.19 515 3.86
--------------------------------------------------------------------------
Inferred
(under-
ground(2)) 11 1.16 3.55 0.24 1.66 0.41 1.26 58 0.59
--------------------------------------------------------------------------
Total
Inferred(4) 134 0.64 2.18 0.20 1.05 2.74 9.44 573 4.44
--------------------------------------------------------------------------
1. Reported within a conceptual pit shell and based at a cut-off grade of
0.3 g/t gold equivalent adjusted for metallurgical recovery.
2. Reported based on an underground bulk mining method using a cut-off
grade of 1.1 g/t gold equivalent adjusted for metallurgical recovery;
3. Total grade and Total Contained Metal gold equivalent grade and ounces
estimated based on equal full recoveries, $550 per ounce gold, $8 per
ounce silver and $1.50 per pound of copper;
4. Totals may vary due to rounding.

KSKPR09-06

No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
contained herein.

Contacts:
Kiska Metals Corporation
Patrick Moodie
604.669.6660

Kiska Metals Corporation
Jason Weber
604.669.6660
604.669.0898 (FAX)
www.kiskametals.com

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