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Kestrel Provides Further Exploration Update

August 18, 2011

VANCOUVER, BRITISH COLUMBIA-- Kestrel Gold Inc. ("Kestrel" or the "Corporation") (TSX VENTURE:KGC) is pleased to provide an update related to exploration activities on its one hundred (100%) percent owned Huachi Property, in San Juan Province, north western Argentina and on its gold exploration properties in the Yukon, Canada, that Kestrel holds an option to acquire a 100% interest.

At Huachi, the first two drill holes (with HQ core) have been completed at the North Ridge Road Cut Zone and the NE Agua Amarga Headwaters Zone, respectively. The North Ridge Road Cut Zone is a gold-mineralized area (that has returned surface rock sample values of up to 12.93 g/t Au – see May 13, 2011 news release) on the northeast side of the East Peak Stock. At the North Ridge Road Cut Zone, gold mineralization occurs in several limonitic shear zones (with variable attitudes) that intersect highly argillically altered diorite host rock. Diamond drilling in this zone is intended to cut north-south and north-east trending near-vertical precious-metal bearing structures. The Agua Amarga Zone also has epithermal textures, alteration and gold mineralization hosted in breccias similar in nature to the North Ridge Road Cut Zone.

On the King Solomon Dome group of properties in the Yukon, field crews have completed soil and silt geochemical surveys on grids on the KSD, Dominion, Gold Run and Gulf properties that include close-spaced soil geochemical survey grids surrounding existing gold soil geochemical anomalies proximal to localities where previously collected grab and rock chip samples have returned values of up to 51.2 g/t Au - (See Feb. 3, 2011 news release).

At the KSD property, Kestrel geologists have also completed the first phase of a 1000 linear metre trenching, rock sampling and mapping program that was designed using existing geochemical, geological and geophysical data centred on and also along strike and adjacent to known gold-silver mineralization occurrences, including the Sheba and Mitchell veins.

Results from all the above-mentioned ongoing exploration programs will be released as they are received by the Corporation once compiled and interpreted and subjected to the necessary QA/QC procedures.