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Kestrel Gold Inc. Completes Summer-Fall Drilling At King Solomon’s Dome Property, Yukon

October 7, 2013: Mr. Kevin Nephin, the President of Kestrel Gold Inc. ("Kestrel" or the "Corporation") is pleased to announce that the Corporation, in conjunction with Rackla Metals Inc. (“Rackla”) has completed the summer-fall diamond drilling program on the King Solomon’s Dome (“KSD”) property announced on September 10, 2013.  The road accessible property, jointly being explored by the Corporation and Rackla, is located in the heart of the Klondike goldfields, roughly 30 km southeast of Dawson City in the Yukon Territory.

Three diamond drill holes were completed (1,191m), spaced approximately 250 to 300m metres apart, to test known quartz veins, surface rock and soil geochemical anomalies and resistivity and induced polarization (IP) geophysical anomalies.  The holes were drilled on a westerly to south westerly azimuth and inclined between 52 and 55 degrees.  The drill core is currently being logged and sampled and results will be announced as they become available.  A map of the drill collars is shown on Rackla’s website at www.racklametals.com.

Holes DDH 13-01 and DDH 13-03 tested an IP anomaly east of the main Sheba vein.  Hole DDH 13-02 drilled through the Sheba vein and part of the IP anomaly on the west side of the Sheba vein.

The holes successfully intersected the target IP chargeability anomalies.  The target anomalies appear to correlate with zones of increased sulphide content which appear to be up to tens of metres in width.  The sulphides consist mainly of pyrite cubes in the host wall rock schist but also include trace amounts of disseminated and quartz veinlet controlled galena and sphalerite associated with silicification.  The results of previous trench sampling at the KSD property indicate that elevated sulphide levels of this nature often correlate with increased values of gold and silver (See Kestrel news release dated December 16th 2011.)

Drilling intersected cross cutting quartz veins, including limonitic and sulphide bearing quartz veins, from near surface to depths greater than 200m downhole.  The quartz veins are often proximal to intermittent zones of altered, siliceous, locally brecciated and fractured chlorite schist with elevated levels of disseminated pyrite and pyrite along foliaform fractures.

The reader is referred to Kestrel’s website at www.kestrelgold.com for background information on the KSD property.

Technical aspects of this news release have been reviewed and approved by W. A. Taylor, P. Geo, hereby designated as a qualified person under National Instrument 43-101.

About Kestrel Gold Inc.

Kestrel Gold Inc. is a gold exploration corporation headquartered in Canada.  Kestrel Gold (Trading Symbol: TSXV:KGC) is listed on the TSX Venture Exchange Inc.  Kestrel, in conjunction with Rackla is the first to diamond drill at the KSD property which is the high point of a prominent topographical feature from which some of the richest producing placer gold creeks of the great Klondike gold rush (to the present day), find their headwaters.  Kestrel’s principal properties include King Solomon’s Dome, Gold Run Creek and Dominion Mountain, located in the Dawson Mining District, Yukon Territory, Canada.

For further information, please visit our website at www.kestrelgold.com or contact:

Kevin Nephin, President & CEO
Office (604) 824-6056
[email protected]

Cautionary Statements

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to certain explorations activities, including the contemplated future exploration and potential mineralization of the King Solomon Dome group of properties. Readers are cautioned to not place undue reliance on forward-looking statements. Forward-looking statements are based on certain key assumptions made by the Corporation, including assumptions based on the Corporation's current exploration results, and assumptions related to obtaining sufficient financing and other resources to carry out any future exploration. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting exploration results and other geological data and the ability of the Corporation to obtain the funds and resources required to carry out further exploration. The forward-looking statements in this press release are made as of the date of this release and the Corporation undertakes no obligation to update publicly or revise any forward looking statements whether as a result of new information or otherwise, except as required by applicable securities laws. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation or its financial or operating results or (as applicable) their securities.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.