Kapuskasing Gold Announces $1 Million Private Placement to Advance Its Projects In The Borden Gold District in Northern Ontario

Kapuskasing Gold Corp. (TSX VENTURE:KAP) (the "Company" or "Kapuskasing Gold")
announces that the Company intends to complete a non-brokered private placement
of up to 6,666,666 units at a price of 15 cents per unit, for gross proceeds of
up to $1,000,000. Each unit will consist of one common share and one half of one
common share purchase warrant. Each full warrant will entitle the holder thereof
to purchase one common share of the Company at an exercise price of 20 cents for
a period of two years following the closing of the offering.


Completion of the offering is subject to receipt of all regulatory approvals,
including the approval of the TSX Venture Exchange. All securities issued
pursuant to the offering will be subject to a statutory four-month hold period.


Net proceeds from the offering will be applied toward advancement of the
Company's recently announced (see news release February 28, 2014) acquired
properties, which are still subject to TSX Venture Exchange approval and for
general working capital purposes.


In connection with the private placement, Kapuskasing Gold may, subject to
regulatory acceptance, pay a finder's fee to certain arm's-length parties on the
proceeds raised. It has yet to be determined if any insiders will be
participating in the offering.




On behalf of the Board of Directors:    
                                        
KAPUSKASING GOLD CORP.                  
                                        
"Dean Nawata"                           
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Dean Nawata                             
President & CEO, Director               



Neither 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 and Cautionary Notes

Statements in this document which are not purely historical are forward-looking
statements, including any statements regarding beliefs, plans, expectations or
intentions regarding the future. Forward-looking statements contained in this
document are based on certain key expectations and assumptions made by
Kapuskasing Gold, including, without limitation, the closing of the offering,
expectations and assumptions respecting the outlook of exploration activity on
the Borden and Rollo properties and the impact on Kapuskasing Gold's business
and management assessment of future operations. Although the forward-looking
information contained in this press release is based upon what Kapuskasing
Gold's management believes to be reasonable assumptions, the Company cannot
assure investors that actual results will be consistent with such information.
Forward-looking information reflects current expectations of management
regarding future events and operating performance as of the date of this press
release.


It is important to note that actual outcomes and the Company's actual results
could differ materially from those in such forward-looking statements. Risks and
uncertainties include, but are not limited to, economic, competitive,
governmental, environmental and technological factors that may affect the
Company's operations, markets, products and prices. Readers should refer to the
risk disclosures outlined in the Company's Management Discussion and Analysis of
its audited financial statements filed with the British Columbia Securities
Commission.


The forward-looking information contained herein is expressly qualified in its
entirety by this cautionary statement. Forward-looking information reflects
management's current beliefs and is based on information currently available to
the Company. The forward-looking information is made as of the date of this
press release and Olympic assumes no obligation to update or revise such
information to reflect new events or circumstances, except as may be required by
applicable law.


This news release contains information with respect to adjacent or similar
mineral properties in respect of which the Company has no interest or rights to
explore or mine. Readers are cautioned that the Company has no interest in or
right to acquire any interest in any such properties, and that mineral deposits
on adjacent or similar properties are not indicative of mineral deposits on the
Company's properties.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Dean Nawata
President & CEO, Director
Phone [phone]