KAI Kenai Resources Ltd.

Mr. Greg Starr, President of Kenai Resources Ltd. (TSX VENTURE:KAI) ("Kenai")
announces that due to strong demand, Kenai has increased the private placement
announced on January 17, 2011 from $5,000,000 to $6,000,000. These funds will be
raised by Kenai issuing up to 24,000,000 units at a price of $0.25 per unit,
each unit consisting of one common share and one-half of one share purchase
warrant. Each whole warrant will entitle the holder, on exercise, to purchase
one common share at a price of $0.35 for a period of two years from the date of
issue. 


Finder's fees may be payable on a portion of the private placement, in
accordance with the policies of the TSX Venture Exchange. 


A substantial portion of the net proceeds of the private placement will be used
to fund Kenai's acquisition costs and initial exploration and development
commitments under its option to purchase up to a 100% interest in the Sao Chico
gold project located in Northern Brazil. The balance of the funds will be used
for working capital purposes. Details of Kenai's investment in the Sao Chico
project can be found in its news release dated September 21, 2010. 


About Kenai Resources:

Kenai is a Canadian company focused on precious mineral project exploration and
development, towards early significant gold production. In addition to the Sao
Chico gold project in Brazil, Kenai is also involved in exploration of the
wholly-owned Quartz Mountain and Hope Butte gold epithermal gold projects in
South-Eastern Oregon, both located in Malheur County, close to the Oregon border
with Idaho. 


On behalf of the Board of Directors of Kenai Resources Ltd.

Greg Starr, President and CEO

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. Specifically, completion of the private
placement of up to $6,000,000 is subject to a number of conditions, including
but not limited to, TSX Venture Exchange acceptance. There can be no assurance
that the private placement will be completed as proposed or at all. 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: 35,906,734

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