KAI Kenai Resources Ltd.

Kenai Resources Ltd. (TSX VENTURE: KAI) ("Kenai"): Kenai is pleased to announce the signing of a Letter of Intent ("LOI") for the acquisition of 100% of GoldOrigin Limited ("GoldOrigin"), a private British Virgin Island ("BVI") corporation, through the issuance of 1,600,000 units in the capital of Kenai to shareholders of GoldOrigin at a deemed price of $0.15 per unit. Each unit will consist of one common share and one share purchase warrant entitling the holder to purchase one additional common share of Kenai for a period of two years at a price of $0.20. The acquisition is an arm's length transaction and is subject to the approval of the TSX Venture Exchange.

GoldOrigin was established to explore the low grade Caldera Gold project of Puerto Areva, some 100km north of Hemosillo, Sonora, Mexico, in partnership with the existing owners where it has invested in excess of US$1,500,000. It is also in the early stage negotiations of acquiring a low grade surface gold producing operation in Brazil.

The acquisition of GoldOrigin will result in Kenai appointing key GoldOrigin Executives, Greg Starr and Neil Cole to senior Management positions with Kenai, with Greg Starr to be appointed a director and President/Chief Executive Officer and Neil Cole as Vice President Technical Services. Shareholders of GoldOrigin also represent some of the venture industry's most active fund raisers and investors.

Greg Starr has over twenty years experience in corporate financial management, with the last seventeen years focused on the resources and mining sector. Mr Starr is Executive Chairman of Australian Securities Exchange ("ASX") listed Gold Anomaly Limited. Mr Starr's previous roles include, Chief Executive Officer and President of Golden China Resources Corporation (TSX), and Chief Executive Officer of Michelago Limited (ASX), and Chief Executive Officer of Emperor Mines Limited (ASX). Mr Starr is a member of the Australian Society of Certified Practicing Accountants and a member of the Australian Institute of Company Directors.

Neil Cole is a Fellow and past Councillor of The Australasian Institute of Mining and Metallurgy and is subject to the Codes of Ethics of that body, with experience of more than 30 years in the assessment, financial analysis, valuation, and investment appraisal of mining and related projects.

The New Management appointments and the acquisition of GoldOrigin are aimed at accelerating the growth of Kenai into a strategic gold exploration company, focusing on opportunities in Western Oregon and Northern Nevada. Kenai will also review production opportunities in the near term, identified through GoldOrigin relationships.

While the opportunities within GoldOrigin are in addition to Kenai's Hope Butte, Quartz Mountain and recently announced Albisu projects, they are at an early stage and difficult to value. For this reason GoldOrigin Shareholders have agreed to accept shares and warrants in Kenai to provide long term upside potential. The LOI includes standard terms for an acquisition including approval of GoldOrigin shareholders and appropriate mutual due diligence.

About Kenai Resources

Kenai is a Canadian company engaged in precious mineral exploration. Kenai's assets include the Quartz Mountain and Hope Butte gold projects in Southeastern Oregon. In November 2006, MineFill Services, Inc. of Vancouver, BC, completed a NI 43-101 compliant Quartz Mountain resource estimate that was prepared in compliance with Canadian Institute of Mining and Metallurgy standards on reporting of mineral resources (CIMM 2000). A copy of the Quartz Mountain Technical Report was posted on SEDAR in 2006.

Kenai has recently signed an Earn in Agreement for the Albisu project in Northern Nevada. Drilling on the project has intercepted geochemically anomalous and intensely altered volcanic rocks over a widespread area with continuity of gold mineralization suggesting a large mineralized system has been active in the area with the potential of more prospective areas of the system to be identified.

Kenai's current gold resources from the two Oregon projects are summarized as follows:

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Project               Tonnes        Grade     Oz Au Status/Classification
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Quartz Mountain   15,050,200  0.80 g/t Au   352,667 Indicated resources NI
                                                    43-101 compliant
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Hope Butte         5,000,000  0.91 g/t Au   146,300 Historical - not NI 43-
                                                    101 compliant
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Footnotes:

1. Resources above a 0.34 g/t cutoff with silver converted to gold equivalent using a ratio of 49.5:1 silver to gold. Metallurgical recoveries were not considered.

2. These resources shown for Hope Butte are from 1990 estimates prior to the implementation of NI 43-101 standards, have not been verified by the Company and therefore should not be relied upon. It is uncertain if further exploration will result in the discovery of an economic mineral resource.

Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed and elsewhere in the company's periodic filings with Canadian securities regulators. The economic viabilities of the resources estimates discussed in the release have not been established and may not be. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The company does not assume the obligation to update any forward-looking statement.

Shares Outstanding: 21,119,036

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.

Contacts: Kenai Resources Ltd. Paul Larkin CFO 604-669-5753 604-688-9895 (FAX) info@kenairesources.net