Kenai Shareholders Approve Plan of Arrangement with Serabi Gold plc

Mr. Greg Starr, President & CEO of Kenai Resources Ltd. (TSX VENTURE:KAI)
("Kenai" or the "Company") announces that the holders of Kenai common shares
(collectively, the "Kenai Shareholders") have approved its plan of arrangement
(the "Arrangement") with Serabi Gold plc ("Serabi"). 


The Arrangement was approved at a special meeting of the Kenai Shareholders held
on July 5, 2013, by 99% of the votes cast. No notices of the exercise of dissent
rights respecting the Arrangement were received by the Company. The hearing in
respect of the final order of the Supreme Court of British Columbia approving
the Arrangement is scheduled for Wednesday, July 10, 2013. Assuming court
approval is obtained and that all other conditions to closing have been
satisfied or waived, the Arrangement is expected to become effective on or about
July 11, 2013.


The Arrangement will occur on the terms as outlined in the Company's news
release of May 6, 2013 and the Company's information circular dated June 5,
2013, both as filed on SEDAR. Under the Arrangement, Kenai Shareholders will
receive 0.85 of one Serabi ordinary share in exchange for each Kenai common
share held. 


Mr. Starr commented, "We are very pleased with the outcome of this transaction
which has been supported overwhelmingly by our shareholders. In the current
market it would have been difficult to continue exploring or developing the Sao
Chico project independently. The combination with Serabi will enable progress on
the project to continue with Kenai shareholders retaining a significant interest
in its potential."


On behalf of the Board of Directors,

Greg Starr, President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


Forward-Looking Statements: Statements in this news release that are
forward-looking statements are subject to various risks and uncertainties
concerning the specific factors disclosed and elsewhere in Kenai's periodic
filings with Canadian securities regulators. There is no assurance the
Arrangement will be completed on the terms described herein, or at all. Such
information contained herein represents management's best judgment as of the
date hereof based on information currently available. Kenai does not assume the
obligation to update any forward-looking statement unless required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Kenai Resources Ltd.
604-669-5753
604-688-9895 (FAX)
[e-mail]