Kiska Metals Corporation New Issue

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES.


Kiska Metals Corporation ("Kiska" or the "Company") (TSX VENTURE:KSK) has today
entered into an agreement with a syndicate of underwriters led by Raymond James
Ltd. and including: National Bank Financial Inc., Mackie Research Capital
Corporation, Scotia Capital Inc., and Union Securities Ltd., under which the
underwriters have agreed to buy from Kiska, on a bought deal basis, 13,100,000
units (the "Units") of the Company at a price of $1.15 per Unit, for gross
proceeds of $15,065,000 (the "Offering"). The Units are to comprise of one
common share and one half of a common share purchase warrant, with each whole
warrant exercisable for 1 common share at a price of $1.60 for a period of 24
months from Closing. 


The underwriters will have an over-allotment option, exercisable at any time
prior to 30 days after the closing date, to acquire up to an additional number
of Units equal to 15% of the number of Units sold pursuant to the Offering, at
the issue price per Unit. The Company expects to file a short form prospectus
with the securities regulatory authorities to qualify the Units for
distribution.


The net proceeds are intended to be used further advance exploration on targets
within the Whistler Project in Alaska, and for general corporate purposes.
Closing of the Offering is expected to occur on or about March 23, 2011.


The Offering is being made in all provinces of Canada other than Quebec, and is
subject to the approval of regulatory authorities. The securities offered have
not been registered under the U.S. Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.

Kiska Metals Corporation (TSXV:KSK)
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