Investment of Geologic Resource Partners LLC in Kiska Metals Corporation

TORONTO, Aug. 10 /CNW/ - Geologic Resource Partners LLC ("Geologic") announced today that in connection with purchases made in September, 2009 and March, 2010, it held, for its own account and on behalf of client accounts over which it has discretionary trading authority, 26,240,951 common shares and 2,410,000 warrants to purchase common shares in the capital of Kiska Metals Corporation. Assuming the conversion of the warrants, this represented approximately 42.37% ownership in the capital of Kiska on a partially diluted basis. On July 23, 2010, Geologic, on its own behalf, and on behalf of client accounts over which it has discretionary trading authority, sold 3,650,000 common shares in the capital of Kiska, reducing its holdings to 22,590,951 common shares and 2,410,000 warrants. Assuming conversion of the warrants this represents approximately 37.54% of the issued and outstanding shares of Kiska. Since the end of March, 2010, this represents a decrease in ownership of 4.83%.

Geologic has exclusive control over all of the securities but does not have ownership.

Geologic has purchased these securities for investment purposes, and may increase or decrease its investment in the securities of Kiska depending upon future market conditions.

Geologic is an investment advisory firm specializing in precious metals, industrial metals, and energy minerals equities.

For further information: or to obtain a copy of the report contact George Ireland, Chief Investment Officer, at [phone]